House Plan Of The Week With Cost To Build

From: Associated Designs, Inc.

The Markham - Plan #30-575



Stone veneer bases support the tapered columns fronting this Craftsman-style bungalow home plan. Inside, the living room links to the dining room, which is open to a sunny nook and kitchen. A cozy window seat nestles into an alcove in the nook. Owners’ suite amenities include a walk-in closet and spa tub.

From the street, the Markham has the appearance of a totally symmetrical Craftsman-style bungalow with an attached porte cochere. Telling details are the stone veneer bases supporting tapered columns, exposed rafter tails where the roof joins the wall, a gabled dormer, and windows with smaller panes in their upper halves.

Inside, a conveniently placed half-bath is tucked behind the foyer’s coat closet. Double doors on the right open into a den, ideally placed for use as a home office. The foyer’s open left side leads directly into the living room.

On the living room’s left wall, a mess-free gas fireplace serves as a focal point, next to cabinetry for a home entertainment center.

The living room links to the dining room which in turn is open to the nook and kitchen. The kitchen has cupboards and counters on three sides, including a set that extends into the nook, and a roomy walk-in pantry. The nook’s wide sliding glass doors offer direct access to a covered patio, which could be screened, if desired.

Laundry appliances are right off the kitchen. The utility room has built-in cabinets and a spacious folding counter. A door there connects the room to a large storage area, tucked under the stairs.

A cozy, semi-private window seat is nestled into an alcove on the far side of the nook, across from the entry to the owners’ suite. This makes a great place to read a book, or simply daydream.

The owners’ suite is at the rear of the Markham. Amenities here include: a walk-in closet, spa tub, dual vanity, and a separately enclosed toilet and shower. Two more bedrooms and a bathroom are upstairs.




Total Living Area: 2222 square feet. 1st Floor: 1700 square feet. 2nd Floor: 522 square feet. Garage: 480 square feet. Plan Width: 50' 0". Plan Depth: 67' 0". Floors: 2. Garage: 2 car. Bedrooms: 3. Baths: 2. Half Baths: 1

To estimate cost, I'll use the "cost to build" calculator on my resource #5 , “Building Costs by City & State”, on "Getting Started" on byoh.com, using “average" quality and a slab foundation




Using this "shape" on the "cost to build" calculator, for the Denver - Boulder CO area, I came up with $171,288 for an owner/builder.

That’s an approximate cost of $77 per sq. ft. (Based on 2,222 sq. ft of living area)

I determined this amount by deducting the General Contractor’s Markup, equipment rental, and allowed only $2,000 for insurance.

Breakdown of Building Costs for This House. (PDF file)
(You will need Adobe Reader to read this cost breakdown.)
Here is a FREE Adobe Reader download if you need it.

You should keep in mind that the cost to build for this example, or any house plan, can vary considerably depending quality of materials selected, and on actual bids for labor and material.

Again, the estimate for this house is an approximate one based on “average” quality materials and a slab foundation as of May, 2008.

Until you actually start getting bids and entering them into your own spreadsheet (see my spreadsheet page for FREE spreadsheets), it will remain approximate.

Enjoy & "Happy Mother's Day"

Carl

That is One Ugly Door!

It's time again for Therma-Tru's annual Ugly Door contest. There's a chance that you could win a new door worth up to $5,000. The contest began May 1 and entries will be accepted through July1.

To enter, just submit pictures of your ugliest door. Therma-Tru will announce two winners: one in a video category and a second in a written essay category.

Both will be announced by Tom Kraeutler of “The Money Pit” radio program. The winners will receive a Therma-Tru fiberglass door system.

For more on rules and regulations, and to enter, go to http://www.myuglydoor.com/.


Photos courtesy of Therma-Tru Doors




Hope you win!

Good Luck,
Carl...and,

Check out Therma Tru's door designer !

Therma Tru's door designer

How You Should Buy a Foreclosed House

How You Should Buy a Foreclosed House.

Well, how should you buy a foreclosed house?

Just like a savvy investor would. Why? Because, you want to buy as cheaply as they do.

Why would you want to buy a foreclosure?

Because you can end up with TWICE as much equity than if you built a comparable house yourself, even as an owner/builder!

There are some incredible “deals” out there, in almost every state in the nation. Some of these houses are very nice, and in good neighborhoods.

As soon as the inventory of foreclosed properties decreases (and it will!), this situation will change, but for now, banks are anxious to get rid of these houses.



Your home is an investment for you. Be a savvy homebuyer (investor).

This article from ReCasa Financial Group, an investment lender, suggests how savvy investors should determine the maximum that they will offer a bank that is trying to sell a foreclosure.

“CAN IT COMP?

A GUIDE TO BUYING RIGHT

When evaluating a potential deal an investor must know if the deal makes sense. What should you bid? What is the maximum you can pay? By pulling sales comparables you can back your way into these numbers and walk away from a potentially bad deal. While sales comparables are not an exact science, it gives the investor the ability to determine worthwhile deals.

WHAT IS AN ACCURATE SALES COMPARABLE?An accurate sales comparable identifies recent sales of properties that are similar in terms of bedrooms, bathrooms, square footage and condition. The best comparable sale would be an exact duplicate of the subject property and would indicate, by the known selling price of the duplicate, the price for which the subject property could be sold. In general, they should be within a mile of the potential deal and less than one year old. In neighborhoods where blocks and streets can vary in value, be discerning in what an accurate comparable is. It is important to drive by the sales comparables to determine how your property compares.

If your rehab project includes adding a 3rd bedroom and a 2nd bathroom, be sure to pull comparable sales for what the completed project will be, not what it currently is.

STEPS TO BUYING RIGHT

Step 1: Investor identifies potential rehab project and gathers sales comparables and averages value.

Step 2: Investor estimates costs to bring property up to market value. To confirm costs, investor receives contractor quotes. Investor determines target profit number.

Step 3: Investor calculates purchase price.

PLUGGING THE NUMBERS:

Step 1: Property identified, average of 4 sales comparables are $150,000.

Step 2: Contractor estimates $25,000 in improvement costs.

Step 3: Investor should set a minimum profit of 20%.

$150,000 x .80 = $120,000 Total amount that can be financed with 20% profit

$7,000 Closing costs and other fees

$120,000-$7,000-$25,000= $88,000 Subtracting closing costs & rehab costs

To ensure a 20% profit, the maximum an investor should pay for the property in the about scenario is $88,000.

Investors additionally need to consider their carrying costs after the project is completed.

To best determine what possible carrying costs could be, look at the days on market for your sales comparables. The difference between 3 months and 6 months on the market can substantially affect your profitability.”

Be Savvy! Buy right, and GET good advice from a Real Estate attorney and/or a Realtor!

Carl

Cost Estimating Questions

From: Ling

"Dear Carl,

1. When was the Cost to Build Examples (1 thru 10) first published? Are they recent? I am trying to find out whether this reflects the current (5/2008) cost.

2. Generally speaking, does it cost more to demolish an existing house than build from ground up?If I demolish a house, that is about 2,000 sq.ft. and I leave the foundation “as is”, should I expect it to cost more to rebuild than building from scratch?

3. Would you please advise why in your Cost to Build Example #5 for Spartanburg, SC, the Masonry Frame cost is not included? I checked the other examples, e.g. in Example 1 and 3, & they both include Masonry Frame cost, which is a big item. Please advise."

Hi Ling,

Answer to #1:
The Cost to build Examples started in January of this year (2008). They are only approximate estimates, from Building-Cost.net & done by a computer. I would dare to say that prices have dropped since January.

Under NO circumstances, would I use the “Cost to Build” from my examples, or from the “Cost to Build” calculator to form my final decision to build or not build a particular house plan.

Only when you go through your own process of obtaining actual bids for labor and materials and completing your own spreadsheet, will be able to make an intelligent, informed decision.

Answer to #2:
Tearing down (demolishing) a house has its’ own set of costs. It is NOT cheap.

There are demolition permits (and permission) to obtain, Utility company expenses, and trash hauling and “dumping” fees to calculate, as well as the labor costs. It has to be done by a professional.

Be sure to read my the last chapter in my (FREE) eBook on "tearing down".
Here is an excerpt:

"This option usually requires a lot of cash or existing equity in the project. The only legal way to tear down a house is to either own it free and clear or to pay off any existing mortgages. One could get permission from the mortgagor, but this only works if the loan balance is less than the value of the land, since once the house is torn down, the only thing of value left is the land! Whatever improvements you put into the house as cash or equity over and above the value of the land is gone forever once it is torn down."

By the way, I don’t know how you can demolish a house without severely damaging the foundation. I don’t think it’s possible.

Besides, in an older house, the foundation usually isn’t worth saving.

Answer to #3:
Ooops! I made a mistake on # 3 when using the calculator and clicked on Masonry Walls. I have never built a house with masonry walls. I meant to click on “Frame walls” with brick veneer as the siding (full brick).



I have corrected that on the example and it should be up on the web site by tomorrow. You can view it here for now: House Plan of the Week & Cost to Build.

#1 doesn’t have masonry walls either, just some stone trim.

I was not surprised to find out that it actually cost more to build “stick frame” walls with brick veneer than “masonry walls” on #3. I knew it would.

Hope I have sufficiently answered your questions.
If not, let me know.

Thanks for your interest in http://www.byoh.com/.

Carl

Glass Blocks

Everybody loves bathroom windows. Natural light can’t be beat. But they are not always feasible due to a need for privacy.

Here are some ideas that solve that problem of privacy as well as adding WOW! factors to windows and “walk in” showers.. . Glass blocks!

These are photos worth a thousand words.

All photos courtesy of Monroeville Glass Block












Be sure to read the FAQ's on the Monroeville Glass Block web site too.

Carl

Appraised Value Came in Low - What to Do?

From: Kristen

"Carl,

My husband and his father have been building homes for years. Now we are ready to build our own home, saving the money my father in law would charge someone else and doing much of the labor ourselves.

We purchased 17 acres of farm land last May for a total of $59,000. We have acquired $9,338 in equity.

We have designed the home and had blueprints made for a 1700 square foot ranch house.

The bank's appraiser valued the house and land at $234,000.

We objected to the appraised value, but the appraiser said it was their opinion and they were sticking to it.

Our credit scores are both above 750. The bank will only loan up to 95% of the value (which is absurdly low) and that is if we pay PMI (which is a waste of money).

What would you advise us to do?

We enjoy your website very much and found it very helpful so far. Sincerely, Kristen”

Hi Kristen,

Bummer on the appraisal, but devaluation of appraised values is occurring around the country. BUT, you are about to receive the true benefit of being an owner/builder (your own General Contractor).

If you are careful with your shopping for the best prices for building materials (prices have fallen) and the subcontractor labor for the jobs you are not going to do yourselves, you should be able to build a good quality 1700 sq. ft. ranch on a full basement, with an attached garage for under $80.00 per sq.ft. (Less if on a crawl space or slab), especially since you are doing some (much) of the labor!

Number crunch:
Appraised value = $234,000
Loan @ 80% of value = $187,200

Land payoff = $49,662 (assuming that your acquired equity ($9,338) = payment on land)
Cost to build = $136,000 (1,700 X $80)

Total = $185,662!

Voila, you don’t have a problem! And, NO PMI at 80% LTV (Loan to Value)!

If worse comes to worse, borrow more (95% = $222,300!) and pay PMI (It's not forever). (Check out Bank of America for their less than 20% down, no PMI mortgages)


In a short period of time (hopefully) and after you finish the house, your house’s value will probably be up where you think it should be and you’ll be thankful that the lower appraisal made you shop more carefully and really stick to your budget. You’ll really be the winner!

If you don't agree with these numbers, please let me know and we can revisit the situation.

Best of luck,

Carl

Adding Line Items To Cost Spreadsheet

Dear Readers,
I have had several questions similar to the following:
“Can you add line items (i.e. builder's risk insurance) to your home buiding cost estimate spreadsheet?”

The answer is yes.
Just type in the name of line item you want in any of the blank categories (description column) at the bottom of the categories (description column) on either the FREE Excel home building cost estimate spreadsheet or the FREE byoh.com home building cost estimate spreadsheet.

You can also change any of the categories by double clicking on the one you want to change, highlight it or backspace over it, and then type in a new category.

Hope this helps everyone,
Carl

House Plan of the Week with Cost to Build on a Slab

Southwestern House Plan116-217 Houseplans.com Southwestern House Plans


Specs:
Basics:Levels: 2Bedrooms: 3Baths: 3Garage Stalls: 2Dimensions:
Width: 45'Depth: 57'Height:: 21'
Square Footage:
Heated Square Footage: 1583
Main Floor: 1057
Upper Floor: 526
Porch: 54
Patios: 410
Wall InformationExterior Wall Constr: 2"x4"
Foundations it can be built on:Basement, Crawlspace, Slab
Style:Style: Southwestern
Related Styles: Adobe Santa Fe
Lifestyle Features:covered front porch






Designer notes

Features three bedrooms and three full baths
A tiled Foyer opens into a large Living Room with a unique Kiva Fireplace



The Master Bedroom located on the upper level adjoins with a private deck An efficient "U" shaped Kitchen with snack bar is located next to the Dining area Second Master Bedroom on first level with private bath opens onto a walled patio

To estimate cost, I'll use my resource #5 , “Building Costs by City & State”, on "Getting Started" on http://byoh.com/., using “average" quality, and a Slab foundation.


Since there is no intricate roof framing, I am using the 6 corner template for the calculator.

Using this "shape" on the "cost to build" calculator for the Santa Fe, NEW MEXICO area, I came up with $127,438 for an owner/builder. That’s an approximate cost of $80.50 per sq. ft.

I determined this amount by deducting the General Contractor’s Markup and I allowed only $2,000 for insurance.

Click here for Breakdown of Building Costs for this House:
(You will need Adobe Reader to read this cost breakdown.)

Here is a FREE Adobe Reader download if you need it.)

You should keep in mind that the cost to build for this example, or any house plan, can vary considerably depending quality of materials selected, and on actual bids for labor and material.

The estimate for this house is an approximate one based on “average” quality materials and no basement.

Until you actually start getting bids and entering them into your own spreadsheet (see my spreadsheet page for FREE spreadsheets), it will remain approximate.

If you have a particular home plan and/or city you would like to see on this feature, let me know.
Carl

Land Surveys are VERY Important!

From: Gena

"Hi, Carl -- I have a question about getting a survey. Can I just use the survey that had already been done when I purchased the land? Or do I need a new one? Thanks!”

Hi Gena,

You are lucky you got a land survey when you purchased your land. Often sellers don't provide one and buyers don't ask for one.

Note: Always get a survey when buying land, always...even if it's a large tract of land. Seller should pay for surveys.

A survey measures and locates the boundaries of a piece of land based on the legal description of that piece of land. When drawn out by the surveyor, it looks like this.

This survey is of lot in a subdivision with a proposed house drawn in.

Subdivisions have a master survey of all the lots in the subdivision recorded with the local municipality so the actual legal description can be referenced just by a lot number

If the land you are buying isn’t in a subdivision, the legal description of the piece of land you are buying will be written out.

Here is an example of a legal description: SE1/4 of NW1/4 of Section 3, T3N, R1E, 3rd PM would be the southeast quarter of the northwest quarter of section 3 in township 3 north, range 2 east of the 3rd Principle Meridian.
(Good thing the surveyors can draw these out, isn’t it?).

The legal description on your survey should match the legal description on your “deed” and the legal description on your “title insurance policy”.

Note: Always get Title Insurance for the land purchase. Seller should pay for it.

So Gena, whether or not the survey that you have from the purchase of your land will suffice depends on what you are going to do with the land.

If you are just going to look at the land for a few years and not build any new structures, it should be fine if it meets the above criteria as to matching legal descriptions.

If a new structure is going to be added, or an addition to an existing structure is going to be made, a revised survey will be required by your lender after the foundation is in to show where it was placed( called a "Mortgage Survey" or "Mortgage Report"). If a lender is not involved, for any new structures or additions, you would want a new survey for your own protection.

Protection from what you say?

Well, one of the common mistakes that even professional builders make is placing the foundation of a structure (house or addition) in violation of minimum setback requirements from property lines, easements, or “right of ways”.

I hate to say this, but I violated setback requirements twice. (I’m a slow learner)

Now I wouldn’t even think of not using a surveyor to place the house on the lot.

When setback violations occur, all work stops until the foundation is moved, torn down, partially rebuilt, or a variance issued. In some extreme cases, adjoining property must be purchased.

A word to the wise is sufficient

I hope I’ve answered your question.

Carl

Rules of thumb for the cost per sq. ft. of a house are dangerous!

From: Laurie

"Is it true that the general rule of thumb is the cost of labor to build a house is about $100 - $110 per square foot? And this is in addition to the cost of the land?"

Hi Laurie,

No, that’s not true.

First of all, I assume (you know what that spells) that you mean labor AND materials. Secondly, $100 -$110 per sq. ft. is a bit high, unless a General Contractor were quoting this “rule of thumb. And yes, it would be without land.

If you are going to be Your Own General Contractor, you will find $70 to $98 per sq. ft. on the “Cost Per Sq. Ft. to Build 11 Houses, 11 States – Recap” on my Sunday, April 20 blog.

Rules of thumb for the cost per sq. ft. of a house are dangerous, for professional General Contractors as well as Owner/builders.

Price per sq ft. can swing wildly depending on many factors. Here are a few of those factors:

Size: The bigger the house, the more it costs overall, but the cost per sq. ft. drops dramatically, as the cost of items such as kitchens is spread out over more square footage, and so on.

Design: The pitch of the roof, the type of roof, the style of the roof, the weight of the shingles, the number of windows, the style of windows, and so on, affect the cost per sq. ft. tremendously.

Foundations: type of foundation, land slope, drainage, and the list goes on, all affect the cost per sq. ft.

Shopping: The same house (plan) can vary greatly by quality & cost of labor & materials chosen. Those who love, and are good at shopping get the lowest cost per sq. ft.!

Determining the cost of building a particular house is the number one job of any General Contractor. Nothing else even comes close.

Review the sample "cost per sq. ft. in the samples mentioned above or from the "cost to build examples" (under the categories on http://www.byoh.com/) and read my eBook, and you’ll see. (The eBook is FREE!)

Good luck,
Carl

Contractor Markup in the NW

From: A. D.

"Hi Carl, I really identify with your approach. Have you ever done any research on average contractor markups? I live in the NW and was wondering what someone would save on average to eliminate contractor costs."

Hi A. D.

Actually, it doesn’t matter if it is the NW, SW, NE, or SE., a builder has to make enough money to stay in business.

Each custom builder must evaluate his or her own situation in order to establish the markup percentage that will cover operating expenses and provide a reasonable profit.

Years ago, as a member of NAHB, I went to a seminar NAHB put on for builders that discussed builder markups and builder profits.

In a nutshell, here is what NAHB said:

“If a builder doesn’t make at least 25% gross profit (before business expenses) on every job, that builder probably won’t be in business in 5 years.”


Carl

A Nice Note

From: Tom D.

"Carl,

I just wanted to thank you for creating and updating you website. We are planning to build a house and your site has been very helpful. Thank you so much.

Tom D."

Thanks Tom,

You made my day!

Carl

Heaving Concrete

From: Nancy

"Hi Carl,

My house has concrete slabs in the back yard which make up my patio. I live in NY State and the constant changing weather has caused the slabs closest to the house to heave inward so that any water whether it is melting snow, rain, or just washing off patio runs inward and sits at the foundation for hours and sometimes even days depending on the weather. Is there a quick and fairly inexpensive fix for this or will I need to have it replaced?"

Hi Nancy,

Using a concrete slab for a patio is a good way & one of the least expensive ways to build a patio.

Unfortunately, nothing lasts forever, especially concrete slabs, without footings or a good sub base.

Unprotected from frost and freezing ground, they heave and crack. They also sink when they are poured on non-compacted earth, such as near a house foundation.

In your case, an additional problem may occur due to the sinking, if it hasn’t already, and that is that the sitting water may eventually seep into your basement.

I think you need to have the slab(s) removed, the soil re-graded, compacted, and a gravel sub-base installed, and new slab(s) poured.

Compacting the soil won’t prevent this from happening again, but it will help add years to the lifetime of your patio.


Compactor

You may want to consider using permeable (porous or pervious) concrete when you redo the patio.

Permeable concrete allows water to pass through and drain into the gravel sub-base.

Permeable concrete uses the same equipment and process as common concrete. The difference is larger pea gravel and a lower water-to-cement ratio to achieve a pebbled, open surface that is roller compacted.

Your concrete subcontractor should be able to handle this, as well as the removal of the old concrete patio, filling in the sunken earth, and the compacting of the new earth.

Good luck,

Carl

Estimating Cost to Build - Preliminary vs. Final

From: Paige

"Carl,
I bought your book and I am using your spreadsheet. I am building on a slab--3200 sq. ft. of living space with an additional 800 sq.ft. of porch under roof. I have a $250,000 budget with a 10-15% cushion. But I'm still stressed, even though I put my 76936 zip code in with slab, under-roof carport and top-quality everything else--the spreadsheet comes out to exactly $250,000 (excluding contractor mark-up). Can you give me some assurance that I'm not in over my head? My house plan should be finalized this next week and we are ready to break ground--water, electricity, and road are already paid for out of our own pockets.

Thanks!
Paige
One more thing--how do you feel about Eldorado Stone versus natural stone? I am planning on using stucco in combination with stone.

Thanks,
Paige"


PAIGE,
WHOA! STOP WHERE YOU ARE!!!

You are referring to the spreadsheet/cost to build calculator from build-cost.net that is on my “getting started” (#5) page!

That is for preliminary, “rough” estimating ONLY! It should only be used to get a “rough” idea of the approximate cost to build for a certain size/style house in a given area (zip code).

It is an excellent tool, but I sure wouldn’t make my final decision to build or not to build based on it.

If you have my book and have read it, you should realize that I state in Chapter 3: “Remember: cost estimating is the most important step!”

Let’s review Chapter 1 “Where to Start”, where I give you the decision making steps on whether to build or not.

“These are the basic steps in deciding whether to proceed with your building project.
1. Make a budget.
2. Deduct land cost.
3. Determine what size and style of house you can afford.
4. Find house plans that meet these criteria.
5. Determine the cost to build this particular house.
6. Get an appraisal on the value of the finished house and land together.
7. Now you can make your decision.”

You have “done” 1, 2, 3, & 4, but you need to now spend time on #5, for it is critical to do accurate cost estimating and even more important to control those costs as the house progresses.

If you don't calculate an accurate budget before you start building and stick to that estimated budget, you probably won’t save 25 percent of the cost of the project, and you may well end up not being able to afford to finish and/or keep the house. This is not good!

You need to take your house plans when you get them, and get your own bids on everything that goes into that house…for both labor & materials…everything!

Then you enter these bids onto your own spreadsheet for each category and get your own “cost to build.

Free spreadsheets are available on byoh.com, already formatted. These spreadsheets are in either Excel or my own byoh.com spreadsheet with its own software to run it and with “mouse over” pop up tip boxes to remind you what goes in each category.

Then you can move on to step #6 which involves getting an appraisal of the final value of your house. As I said in chapter 1, you can obtain a written appraisal of what your dream home will be worth after it is built on the land you have selected (or own).

You will be getting such an appraisal ordered by your construction lender, but you can order one yourself as soon as you have selected land, plans, and basic specifications. (Look in the Yellow Pages under Appraisers or call a Realtor or Lender for a recommended appraiser). It is not expensive to get an appraisal (about $300-$400) and it is folly not to have one at all.

Now you can move on to Step 7: Decision time! Based on total cost of land, labor, and material, is this project worth it? With the appraisal in hand, you will be able to make your decision intelligently by reviewing the following factors.

1. Are you saving any money?
2. Is the house over, or under, priced for the neighborhood? (Under is better!)
3. Can you revise your cost estimate if there is less than 25% savings?

Once you decide to move ahead with your dream house and have obtained financing, you can start on the fun part of seeing the work actually begin.

Remember this: “There are NO shortcuts” in this business!

As for Eldorado Stone versus natural stone?

Photos courtesy of Eldorado Stone

As for Eldorado Stone versus natural stone? Eldorado Stone is beautiful and, according to the manufacturer (I actually called them) is ½ the price of natural stone. There are other great benefits as well. I plan to do a blog on Eldorado Stone in the near future.

Good Luck and don’t hesitate to contact me if you have any questions.
Carl

School(s) of Homebuilding

From: RON

"Carl,

I plan to build a new house next year. I'm now starting with my wife planning it. I want to do it myself without using a builder as you propose. Are there any schools/classes (maybe for a week or two) to generally give guidance for this effort? I live in South Carolina. I'm an electrical engineer so have many years of work project engineering experience.
Thanks,
Ron"

Hi Ron,

I'm not sure the of the value of any of the schools that you'll find on this very inclusive list from Mother Earth News, but here's the link to the list:



I taught classes in my school(s) of home building for years, but then put everything on line and felt that should be enough to motivate people to do what I did, that is, build your 1st house. I went on and made a career out of it.

You are, because of your profession, better prepared than most.

Hope this info helps.

Best of luck & let me know how it goes.
Carl