In 2016 I was a superintendent for a home builder. They got caught in the rut of moving money between escrows. Our cash flow ran out, production stopped. Just last year, the FBI came down on them with fraud. Not good. This is a great video for new builders. Thanks man!
I’ve been looking everywhere for videos like this! Greatly appreciated Jason. Amazing content. I’m a superintendent for one of Oklahoma‘s biggest homebuilders. I would like to start my own homebuilding business soon. I’m currently saving up money to start my first house. I believe I need 20-30% down to fund a new construction loan.
Ricardo Sanchez hi there! Thank you! Really cool to hear that you will be starting your own! Yes I believe it would be between 20 and 30% you definately have a great background for success!
Richardo, where are you located? I'm getting started building a subdivision in Newalla OK. I wouldn't mind meeting with you to see if we could work together on some projects.
@@Womanb4anything I’m working for a home builder in OKC right now. I have enough money to build my own new construction house to sell. I’m currently looking for lots.
Wow what great Content i am currently 20 And in my situation Of my life I think becoming a builder will be one of the best choices i make for the my future and my children’s …
I can say as a tradesmen that it's usually the builder who is "irresponsible," with money and they know all the ways to take advantage of contractors, for example if you have a contract and the builder adds a bunch of stuff they will try to pressure you into getting the work done without approving a contract adjustment to account for the add-ons then they won't pay you for the additional work, so never move on work if it's not in writing.
i own a remodeling company & want to start building homes next year. Your video is very informative to learn to start building homes. Thanks again! Comax Renovations Nicolas O.
Awesome content, I’m 16 and have been wanting to become a home builder since I was younger and pretty much have based a lot of my decisions off my “dream job” if by any chance i could talk 1 on 1 or just get a couple tips on what to do in the near future it would be greatly appreciated. Again great content!
Drop the Bassline thank you! Glad you liked the video! Shoot me an email or your phone number and we can talk about it, my email is jason@josephscotthomes.com
Excellent! In the description of the video I have my different memberships/programs that I offer you can click on the link to get started with one of them or if you wanted to do the monthly phone call consulting you can send me an email Thank you!
Hi there Jason I got a question Hopefully you can help me out I am looking to start a custom home/Renovations company How you do make all your contracts ? Do you it your self or you have a lawyer do for for you ? My Second question is If you are a design/Build and you have a customer that wants a custom home do you provide the architect ?
What legal entity is allowed to build spec houses? In most states, a private individual can only build 1 house every couple of years. Can general contractors own and build spec houses? How about an individual who forms an LLC? Some states call spec house builders a "developer." Is there a special license or permit to become one? I have a lot of time in construction and want to build in a specialty niche I am already in, and want to build several smaller stick-frame houses a year, year after year. What legal entity do I need to be (or work with someone who is) to be allowed to do so? Great vid - Thanks!
It varies from state to state, in Texas for example: you have to have a business registered in TX or even an out of state business could register to conduct business in TX and that’s it, you don’t need a general contractors license. I found that most states do require a general contractors license but some don’t. Yes general contractors can build spec homes as well as an individual who forms an LLC(as long as they get a general contractors license- if required)
Amazing video, very knowledgeable. I’m very new to this whole builder idea but want to pursue as career may be 1 year down the line. Before I start I would like to gain as much education as I can. Do you have any service offering for this kind of scenario?
Honestly it just comes down to the negotiation if an investor is going to be financing the entire project And they wanted to split things 50-50 I would actually be fine with that but of course I wouldn’t start with that I would start with offering 10% return on investment and then negotiate from there
I'm interested in have the ability to call you. Please let me know how we arrange this. I'm a seasoned Carpenter looking to start a spec home business in Muskegon
Hi I’m a young contractor in Florida and would love to talk to you to help me form some systems in my business. I am a shell contractor and currently building two houses this year. Thanks
Great video and advice. I am an architect (not licensed yet) and about to start building my first house here in NJ and owner builder. Is this something I can do as I side hustle as I have a full-time job? Not sure if I should make an LLC and get builder's and general contractor license.
Vivek Mac thanks! Yes I Think it’s something you could do as a side hustle, wouldn’t hurt to get yourself set up as a business and get your general contractors license. While you were building your home you would be able to show potential clients your home and share your building process with them, you would be able to use your home as something to show potential clients when it’s finished
@@Womanb4anything Hi there, every state is different if you contact your state builders association. So Google the state you live in… builders association and it should come up you should be able to reach out to someone there and they can get you information. With some states they may require that you have some time in the building industry meaning have a job in the building industry for a couple years or so in order to get it. Even though it may seem hard and like it will take a long time don’t let that discourage you, Start it now, You’ll be happy you did in the near future
How many homes could you manage at once(spec or build for customer) and what amount of capital would you need in order to safely/responsibility build and sell a spec home(s) for startup?
By yourself I’m sure you could responsibly manage 6-8 homes. If you’re able to find a bank that will do a spec home on for you they’re going to require 25% down otherwise you could try to find an investor
My coach and consulting service is $100 per month(includes a one hour phone call per month) I did just finish a course that covers everything from financing all the way through selling your spec home and every detail in between, I also offer support along with the course
Hi there, no you do not need to go to college to become a builder if being a builder is really what you want to do I would recommend working for a home builder or in the homebuilding industry instead of going to college and that will get you the best experience, Plus you have my information that I put out there, I also do you have a course that I just finished as well
@@JasonLawrence thanks so much… I really love everything that is related to home builder, framing, home design etc. I never thought I could became a home builder because I don’t have a college degree. But now…I know I can start chasing my dreams. I’m gonna start following your channel. I really find your videos very educative and informative .
You can take an initial draw at the closing of the construction loan, The screen cover the building permits and any expenses you need prior to taking the first draw and then you can also add in a commission for yourself. Also if you needed you could draw some funds for yourself when you take the other draws
Anthony Butler I’m working on one, kind of, either that or some kind of video course on it, for now I have a consulting service that is $75 per month, unlimited phone calls, emails, Any and all information you would need to help you through the process
In 2016 I was a superintendent for a home builder. They got caught in the rut of moving money between escrows. Our cash flow ran out, production stopped. Just last year, the FBI came down on them with fraud. Not good. This is a great video for new builders. Thanks man!
I like when you said "you're going to jail"
Love the videos man!
Amazing info - Thanks!
Even 10 years ago, this kind of info wasn't available anywhere. Now anyone in the world has access to your training
I’ve been looking everywhere for videos like this! Greatly appreciated Jason. Amazing content. I’m a superintendent for one of Oklahoma‘s biggest homebuilders. I would like to start my own homebuilding business soon. I’m currently saving up money to start my first house. I believe I need 20-30% down to fund a new construction loan.
Ricardo Sanchez hi there! Thank you! Really cool to hear that you will be starting your own! Yes I believe it would be between 20 and 30% you definately have a great background for success!
Richardo, where are you located? I'm getting started building a subdivision in Newalla OK. I wouldn't mind meeting with you to see if we could work together on some projects.
@@brownjoshua7 hey Joshua, message me 405-443-8324. I live in Purcell but I work in northwest Bethany.
I’m just curious on how its going for you guys
@@Womanb4anything I’m working for a home builder in OKC right now. I have enough money to build my own new construction house to sell. I’m currently looking for lots.
Wow what great Content i am currently 20 And in my situation Of my life I think becoming a builder will be one of the best choices i make for the my future and my children’s …
It can really be one of the best things to do to give you and your family a great future! Go for it!
I can say as a tradesmen that it's usually the builder who is "irresponsible," with money and they know all the ways to take advantage of contractors, for example if you have a contract and the builder adds a bunch of stuff they will try to pressure you into getting the work done without approving a contract adjustment to account for the add-ons then they won't pay you for the additional work, so never move on work if it's not in writing.
Damn near spat my water from laughter when dude said “you’re gonna go to jail.” 😂😂😂😂
Lol!!!
i own a remodeling company & want to start building homes next year. Your video is very informative to learn to start building homes. Thanks again! Comax Renovations Nicolas O.
Thanks Nicolas! You should join the membership group, only $5 per month timetolearn.mykajabi.com/offers/FSvUetym
Amazing content! Thank you ❤
You're so welcome!
Awesome content, I’m 16 and have been wanting to become a home builder since I was younger and pretty much have based a lot of my decisions off my “dream job” if by any chance i could talk 1 on 1 or just get a couple tips on what to do in the near future it would be greatly appreciated. Again great content!
That is great to hear! Yes absolutely, shoot me an email jason@josephscotthomes.com
Great video
Great info! Thank you.
Thanks for all the great direction Jason. I will be purchasing your subscription. -Jake
Jacob Garza thanks a Jacob!
100% true, have organized system. 👍
Incredible vídeo. I am definitely interested in the retainer / advisor program.
Drop the Bassline thank you! Glad you liked the video! Shoot me an email or your phone number and we can talk about it, my email is jason@josephscotthomes.com
Jason Lawrence I will be reaching out soon to get started with your advisor program
Thank you! I was really in need of this info!
Awesome, happy to hear that!
Nice video👌🏼, big info
Thanks!
Awesome content. Thank you for this!
Welcome!
Your videos are exactly what i was looking for. Great video and very helpful information. Would love to be a part of your program .
Excellent! In the description of the video I have my different memberships/programs that I offer you can click on the link to get started with one of them or if you wanted to do the monthly phone call consulting you can send me an email
Thank you!
Thanks, I needed this info!
Excellent!
Great guidance! Thanks
Gina Friend Thank you Gina!
Such great information! Will defiantly be contacting you!
Thanks Jesse!
Very interested in learning these skills
Perfect video I needed to watch im on my way to big a big shot developer 😁
amazing content
MisterTracks Thank you! You made my afternoon!
Good content easy to understand!
It's good to know you're offering consulting services. I'm curious if you're still doing construction of homes or commercial buildings.
Yes sir! I’m still building homes- we will finish with 17 starts this year
I’m getting my associates in construction mgmt in residential to gain a overview of what I’m going to get into.
That’s great Nathaniel!
Another amazing video
Nc Plush Show thanks!!! Really appreciate all of the support!!
Hi there Jason I got a question Hopefully you can help me out I am looking to start a custom home/Renovations company How you do make all your contracts ? Do you it your self or you have a lawyer do for for you ? My Second question is If you are a design/Build and you have a customer that wants a custom home do you provide the architect ?
Just did a video on this Types of Construction Contracts | Spec Home Building Questions
ua-cam.com/video/6uMuSpgwb10/v-deo.html
What legal entity is allowed to build spec houses?
In most states, a private individual can only build 1 house every couple of years.
Can general contractors own and build spec houses? How about an individual who forms an LLC?
Some states call spec house builders a "developer." Is there a special license or permit to become one?
I have a lot of time in construction and want to build in a specialty niche I am already in, and want to build several smaller stick-frame houses a year, year after year.
What legal entity do I need to be (or work with someone who is) to be allowed to do so?
Great vid - Thanks!
P. S. Dan here. I sent that last msg from my girlfriend's phone because I was working in her photo storage. She isn't the builder, I am.
It varies from state to state, in Texas for example: you have to have a business registered in TX or even an out of state business could register to conduct business in TX and that’s it, you don’t need a general contractors license. I found that most states do require a general contractors license but some don’t.
Yes general contractors can build spec homes as well as an individual who forms an LLC(as long as they get a general contractors license- if required)
What is a ruff margin builders use, or how exactly do they bid out a home?
Typically 10-15%
Bidding out a home: ua-cam.com/video/_LPmuayPIik/v-deo.html
ua-cam.com/video/_LPmuayPIik/v-deo.html
Thanks for the information. I would like more information on the retaining option
Sounds good! You can email me jason@josephscotthomes.com
Thanks
When he said your going to jail! Well said
Damn it! Keep your eyes on the road. At 2:59 of the video you hit a little old lady crossing the street.
Amazing video, very knowledgeable. I’m very new to this whole builder idea but want to pursue as career may be 1 year down the line. Before I start I would like to gain as much education as I can. Do you have any service offering for this kind of scenario?
I do! For only $5 per month timetolearn.mykajabi.com/offers/FSvUetym
Great vid
521talent thank you!
Whats been your approach in trying to get private investors? 10% of profit at time of sell, flat amount payout, etc
Honestly it just comes down to the negotiation if an investor is going to be financing the entire project And they wanted to split things 50-50 I would actually be fine with that but of course I wouldn’t start with that I would start with offering 10% return on investment and then negotiate from there
I'm interested in have the ability to call you. Please let me know how we arrange this. I'm a seasoned Carpenter looking to start a spec home business in Muskegon
Morning if you send me an email, I can reply with a link for you to get set up and we can schedule our call
Jason@josephscotthomes.com
Do I need a GC license to be a spec home builder. I flip houses but I sub all contractors. New construction is a different ball game.
how much does a soil survey cost for a new house built in the mountains
I’m thinking probably a ballpark price of around $1500 for the survey work and approximately $3000 for the soil testing
What percentage do you take of profit?
Any banks you recommend that will give spec home loans? Thanks
I would check with smaller local banks and credit unions, first find out if they do a construction loan and then if they would do a spec loan
What accounting software do you use??
We use quick books
I know you posted this a while ago but I’m interested in your guidance and mentorship. Can we schedule a 10 minute phone call to talk?
Hi I’m a young contractor in Florida and would love to talk to you to help me form some systems in my business. I am a shell contractor and currently building two houses this year. Thanks
Hi Peter, would love to help, email me jcrislawrence@gmail.com
I am interested.
So start an LLC for building spec homes rt?
I am interested in the retainer service as we have just purchased 3 lots to build spec homes
Excellent! You can email me jason@josephscotthomes.com
Are you still offering consultation on a monthly basis?
Hi Heather,yes I am, you can email me jason@josephscotthomes.com
Great video and advice. I am an architect (not licensed yet) and about to start building my first house here in NJ and owner builder. Is this something I can do as I side hustle as I have a full-time job? Not sure if I should make an LLC and get builder's and general contractor license.
Vivek Mac thanks! Yes I Think it’s something you could do as a side hustle, wouldn’t hurt to get yourself set up as a business and get your general contractors license.
While you were building your home you would be able to show potential clients your home and share your building process with them, you would be able to use your home as something to show potential clients when it’s finished
@@JasonLawrence thank you Sir.
@@JasonLawrence how hard is it to get the contractors license?
@@Womanb4anything Hi there, every state is different if you contact your state builders association. So Google the state you live in… builders association and it should come up you should be able to reach out to someone there and they can get you information. With some states they may require that you have some time in the building industry meaning have a job in the building industry for a couple years or so in order to get it. Even though it may seem hard and like it will take a long time don’t let that discourage you, Start it now, You’ll be happy you did in the near future
Hey I’m interested in learning more about your services!!!
Hi Shaun, what’s your email address I can send you some info on the service I offer
How many homes could you manage at once(spec or build for customer) and what amount of capital would you need in order to safely/responsibility build and sell a spec home(s) for startup?
By yourself I’m sure you could responsibly manage 6-8 homes.
If you’re able to find a bank that will do a spec home on for you they’re going to require 25% down otherwise you could try to find an investor
Hey Jason how much is the retainer fee ?
My coach and consulting service is $100 per month(includes a one hour phone call per month) I did just finish a course that covers everything from financing all the way through selling your spec home and every detail in between, I also offer support along with the course
@@JasonLawrence your the man thank you
Do I need go to college to became a house builder?
Hi there, no you do not need to go to college to become a builder if being a builder is really what you want to do I would recommend working for a home builder or in the homebuilding industry instead of going to college and that will get you the best experience, Plus you have my information that I put out there, I also do you have a course that I just finished as well
@@JasonLawrence thanks so much… I really love everything that is related to home builder, framing, home design etc. I never thought I could became a home builder because I don’t have a college degree. But now…I know I can start chasing my dreams. I’m gonna start following your channel. I really find your videos very educative and informative .
While everybody else getting paid how do I get paid to cover my family needs during the construction of the homes?
You can take an initial draw at the closing of the construction loan, The screen cover the building permits and any expenses you need prior to taking the first draw and then you can also add in a commission for yourself.
Also if you needed you could draw some funds for yourself when you take the other draws
Hello Jason,
Would like to take you up on your offer!
What is the best way to contact you?
Hi there, you can email me jason@josephscotthomes.com
I’m interested in your consulting service.
Can you email me jason@josephscotthomes.com
S Corp for the savings on tax
I’m getting ready to start new construction and would love a mentor!
Hi Tabitha, send me an email jason@josephscotthomes.com and I can send you all of the details for my mentoring program
I’m looking to see if you can assist me with my startup. Pick your brain. Thank you
Is there a step by step checklist for someone who wants to become a spec builder? Spec building for dummies?? Lol!
Anthony Butler I’m working on one, kind of, either that or some kind of video course on it, for now I have a consulting service that is $75 per month, unlimited phone calls, emails, Any and all information you would need to help you through the process
@@JasonLawrence are you still providing this service? I’m interested in starting this year one home at least in las Vegas
All this is common sense.
Stealing from Peter to give to Paul
Your going to jail 😂😂😂😂