You are in for a treat as we go through the process of building a house and you get to follow along! We are excited to share this journey with you so you can see first hand what goes into building a house. So many of the concepts you will learn apply not just to single family investing but also to duplexes, triplexes, quadruples and beyond. While a structure may change, the fundamentals in residential real estate do not change with few exceptions.
Your journey begins on the home page called The Hub. At The Hub, you have a menu of choices available. Click around. Check out the content. And of course, follow along while we build!
So…let’s begin with the first key concept.
Alignment.
All the knowledge in the world will not do you a bit of good if you aren’t working with the right people. The right people in the right seats is paramount. Your ability to manage them is paramount. It doesn’t matter if it is a small project or a massive one. Work with people that are in alignment with your goals no matter what!
No alignment = not fun… Even if profitable. What good is money if you aren’t enjoying the journey to get there?
There are numerous tools to putting the right people in the right seats. The book Traction from Gino Wickman is a great one to check out so we highly recommend you read that. We can’t say enough about it. New construction is really a management activity and the building part is the byproduct of solid management. Manage poorly and you can be sure your build will not be what you hoped for. Ask us how we know…
With that being said, new construction need not be a scary thing. In fact, it is easy as 1, 2, 3. Here goes:
Be Informed
Be Prepared
Be Decisive
That’s it. Get those three things together and this process will go much more smoothly. Let’s dive in.
Be informed:
Most of the challenge with new construction is the unknown. It looks big. It looks scary. It looks hard. All of which can be true. Or it can just as easily not be true with some information. The key is to get educated. You don’t have to know everything. You just need to know which questions to ask. And when. We’ll show you how.
Be Prepared:
The old saying is trie. If you fail to plan, you are planning to fail. This applies in any aspect of real estate investing but is especially true with new construction. Much of the work is done on the front end and this is where planning is key. If you do your homework up front, you’ll be much happier during the build as well as the result. Planning equals preparation which leads to…
Be Decisive:
It’s easy to make decisions when you what you are deciding about. Sound weird? You would be amazed at how often scenarios come up where a little less ignorance goes a long way to making a better decision. Oftentimes we don’t know what to because we simply aren’t aware of alternatives. Contractors tend to be one track minded more often than we like to believe. This can be very costly. Sometime you need a different contractor. Or a different solution. Or simply a change of plan to handle the unforeseen. You want to be decisive in these scenarios. Being informed gets you there. Decisiveness saves time and money. Be decisive.
And in the words of Tony Robbins…’There is always a way if you are committed.’
Bonus:
Don’t try to do more than you can handle. Building a house is not a small task. There are literally thousands of micro decisions made along the way to build a home. It is key that you do not underestimate how much time this is going to take!
So the next step is to dive in and let’s get started. As you go through the course, you will see a lot of information. We encourage you to rewatch videos. Check out the Q+A. If a question isn’t in there, let us know…we might make a video about it! We are here to help you on your journey by providing information. And if you need 1-on-1, there is always coaching as well.
Whatever you do, enjoy the journey with us here at Build One House and let’s get you in position to cash in on some bigger checks through this very profitable niche!
And with that…let’s dive in to The Hub!