Landlord Question

[Superorb]

If you're in the build a home price range, you can afford something with character, AND a shop.

I'd love this even more than building a home in cookie cutter-ville. I work on cars all the time so a pole barn would be perfect.

I don't know anything about this though. Do I buy a plot of land and then get a home builder to build the house I want on it? Can I do any of the work myself to save some cash and ensure quality? I've been reading nothing but horror stories from the tract home builders all over CO.

[flyingcouch]

It's an insured/bonded crew that's doing the work.....

this does not really mean much or mean what you think it might. Insured - They probably have insurance that covers liability. the deductable is probably high and getting anything from the insurance company for the small issues you are talking about is not really reasonable. The insurance will help the contractor for big liability issues - burning the building down, having an employee hurt or killed on the job .... Bonded - They "might" be ABLE to get a bond, there is most likely not a bond on this particular project. If they did have a bond it would cover 1. The owner in case they did not perform their work per the contract and 2. Their employees and suppliers in case they did not pay for labor or materials on the project. A bond does not help you in this situation.

[Great-Kazoo]

I'd love this even more than building a home in cookie cutter-ville. I work on cars all the time so a pole barn would be perfect.

I don't know anything about this though. Do I buy a plot of land and then get a home builder to build the house I want on it? Can I do any of the work myself to save some cash and ensure quality? I've been reading nothing but horror stories from the tract home builders all over CO.

You must have skimmed over the first part of my reply. BUY an Older Home in a settled NO HOA / COVENANT CONTROLLED AREA. We scored on this house on 1/4 ac~ with non-potable well and a 1/2 ass loafing shed. 10 yrs later a 3 car garage sits where the loafing shed use to be. Do some surfing on line, some weekend driving around and see what pops up. I also suggest if something catches your eye. A second and or 3rd visit covering both a friday & saturday night, especially in the warm weather months. You can also check with the local PD regarding crime stats.

We checked out one area which looked real clean and old homes. 2 saturdays in a row and you would think there was a Cinco De Mayo party, every weekend.

[Wulf202]

I'd love this even more than building a home in cookie cutter-ville. I work on cars all the time so a pole barn would be perfect.

I don't know anything about this though. Do I buy a plot of land and then get a home builder to build the house I want on it? Can I do any of the work myself to save some cash and ensure quality? I've been reading nothing but horror stories from the tract home builders all over CO.

That's two ways to do it. Be your own GC or hire a GC and do some of your sub work. GC's make about 10% off the top and in my opinion it's not enough.

I wouldn't do new construction if I wasn't the one swinging the hammer. Find an old place that you can see potential in.