Replies

1. 
   Guest_ | Jun 12, 2000 07:06am | #1

   *
   Apparently not.

1. 
   Guest_ | Jun 12, 2000 07:33am | #2

   *As ?

1. 
   Guest_ | Jun 12, 2000 12:09pm | #3

   *I don't know, it's a start. Remember, showing up is half the job.

1. 
   Guest_ | Jun 12, 2000 03:14pm | #4

   *Hard to tell. Do you have any previous related experience?Rich Beckman

1. 
   Guest_ | Jun 13, 2000 01:49am | #5

   *If I can make it, you can too...

2. 
   Guest_ | Jun 13, 2000 02:14am | #6

   *And if you can make it here, you can make it anywhere.

2. 
   Tim_H | Jun 13, 2000 02:21am | #7

   *
   my question is: can i make a living as a late night computer hack? I guess I answered my own question.

   My real quetion is as follows: real sick of the rat race, I have a good chunck of developable land and a few bucks I could throw at it. Would like to build a house every 2 or 3 years (i will check the laws as to this). I would go thru the normal permit & inspection routine. my wife and I would do approx 80 to 90% of the labor. We have rehabbed many houses in the past, some were major additions and some were simple kichen gut jobs. So I know we have all the the skills needed or the good sense to hire it out.

   Can we make a decent 'early retirement' living doing this? I know we won't get rich , but that ain't the goal.

1. 
   mr._greenjeans | Jun 13, 2000 02:34am | #8

   *The correct answer is "yes/no".Yes, this has been done before, I've seen it done to success, and done to dismal failure. It's not a get-rich quick scheme, but it *could* *possibly* provide a decent income, IF you have the skills, stamina, sticktuitiveness, work ethic, moral and family support, financial support, etc.As to whether YOU can do it successfully or not, only You can know that answer.mr. GJ

1. 
   Bill_Ensley | Jun 14, 2000 08:34pm | #9

   *I would say that the financing aspect is the one you need to concern yourself the most with.

3. 
   Guest_ | Jun 15, 2000 12:32am | #10

   *
   Is it something you will enjoy doing for 10 hours a day for about a year or two at a time?

   Like going into business for yourself: Itemize everything you can think of, ask coworkers and contractor friends to point out what you didn't think of, make as complete and accurate a cost estimate as you can. And then don't start unless you've got (or have access to) TWICE that amount. Really. Almost nothing happens during the construction of a house that costs you a lot less than expected. But there are a huge number of things that could crop up, go wrong, or surprise you. For instance, what if you throw your back out 1/3 through the project? Do you have to walk away from your investment, getting only pennies on the dollar? Or do you have the $$ to pay someone to finish it for you so you can recoup your investment?
   It might seem that you can build out of pocket because so much labor will be "free". But materials cost. Subs cost. And unless you can find and pay a helper, your frustration, slowness, and injury rate will be much greater.

   But if you've got the financial, physical, and skill resources to pull it off and would enjoy the process, you can do okay. If you don't have a great sense of what sells in your area, pay a realtor to educate you.

   And check the tax ramifications. I believe if you live in a house for 2 of the last 5 years, you can pocket the capital gains (up to 250,000/person, 500,000/couple) without a federal tax obligation. I know that the interest on construction and land loans is deductable for home construction within 18 months of occupancy if secured by the land (if borrowing from Bank of Mom, pay your title company $50-100 to file a deed of trust).

   I've done the first house on the 13 acres we bought (www.alaska.net/~dthomas) and created about $35,000 equity by doing the design, general'ing, plumbing, and electrical myself. Reasonable wages for a 1/2 time job over 9 months. Good Luck, David

4. 
   Tim_H | Jun 15, 2000 06:48pm | #11

   *
   Thanks David

   Pretty much agree with all you said. The tax considerations are very important. I feel we have the financel (spelling) end of things under control. My biggest concern is are we missing anything. We want to opt out of the 9 to 5 and do our own thing. Seems like a go , can anyone throw water on this plan?

   Any body out there done this?

5. 
   Guest_ | Jun 15, 2000 11:10pm | #12

   *
   here's the cold shower..

   as builders with spec houses and the land under our control..

   the problem is building what the buyers want.. and not what you want..

   the danger is giving your product and your asset away because you either undervalue it or you overbuild for your market..

   if you let ego get in the way it is easy to spend way too much money on your product that you can't recoup by the sale....

   b but hey, whadda i no ?

6. 
   Greg_Gibson | Jun 17, 2000 05:01pm | #13

   *
   Brings to mind the old saw from Robert A. Heinlein ..
   "There was once a man whose sole job it was to polish the brass cannon on the town square. He did his job well but he was not happy. He saved his money and one day he quit his job, bought himself a brass cannon, and went into business for himself."

   Best of luck, it sounds like fun to me! Greg

7. 
   Tim_H. | Jun 17, 2000 08:41pm | #14

   *

8. 
   Guest_ | Jun 17, 2000 08:41pm | #15

   *
   How about this - only build a house that you'd like to live in if it doesn't sell. That way, the worst situation you'll find yourself in is that you have to go back to the 9-5, but you got the satisfaction of building your home for the year or two it will take you and fulfilling a part of the American Dream. Have at it. "This is not a practice life".