Being Your Own GC - New Home Build Questions...?

[brunner]

My wife and I are currently flipping our first house. It has me thinking about our new home build we are planning for ourselves, of being our own GC.

We have decent equity in our current home and with the sell of it, have instant equity in the new home even building with a custom home builder.

However, having even more equity in our new home to reduce our mortgage even more would be ideal.

How many of you would have built your own custom home?

Do’s?

Don’ts?

Would you do it again?

Was the headache worth the money saved?


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[Throwin Darts]

If you are using a construction loan and have a lender in mind I'd check with them now to make sure they'd lend to you if you were your own GC

[Stolle]

My wife and I are currently flipping our first house. It has me thinking about our new home build we are planning for ourselves, of being our own GC.

We have decent equity in our current home and with the sell of it, have instant equity in the new home even building with a custom home builder.

However, having even more equity in our new home to reduce our mortgage even more would be ideal.

How many of you would have built your own custom home?

Do’s?

Don’ts?

Would you do it again?

Was the headache worth the money saved?


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When Steve and I built the house in POC our lender would not allow it. We had to have a licensed GC.

[brunner]

We are planning to become a licensed GC for our house flipping business we have already established our LLC


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[TexasTealHunter]

If you are using a construction loan and have a lender in mind I'd check with them now to make sure they'd lend to you if you were your own GC

The above is correct, bank i work with does not like to lend direct to GC if he or she is building own home.

[curtintex]

I've done it multiple times. It takes time, but I've always saved a good bit of money doing so. To Stolle's point above, I'm 99% sure that Texas no longer has a GC licensing program. Only specialty contractors required licensing...plumbing, HVAC, fire suppression, electrical, etc.

https://contractorquotes.us/texas-contractors-license/

I've GC'd my personal home, my lakehouse and many investment properties as well as helping my BIL and my uncle GC theirs. If you know the steps needed and the sequencing of subs, then you can get it done pretty easily. Some lending institutions don't like it and some may not even allow it, but many do. I've learned if I have a good business plan, even for a single home build, that shows where I'm saving money, the banks understand good business and more easily follow what I'm trying to do.

[Quackerbox]

in for info

[Mayhem]

The house I live in was GC'ed by the previous owner and he for all intents and purposes did not know what he was doing and his trades were not very good. My wife works for a home builder and she find weird stuff that was not done completely right all the time.

[mjhaverkamp]

I built our lake home, it had its ups and downs for sure, had a couple of subs get to me pretty good as far as warranties go, I know one thing, you need to have a lot of free time on your hands, I really do not know if I saved money or not because I never got any bids, I did not have a budget either, I can see where it would be very easy to destroy a budget. I did get pretty much exactly what I wanted.

[MarkV]

We are planning to become a licensed GC for our house flipping business we have already established our LLC


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I still don't think they will do it if its for you. I could be wrong but have a buddy who is a home builder and had to have another builder friend of his be the one whose name was on the loan because they didn't want him doing his own draws.

[brunner]

Y’all are correct you can not GC your own home. Spoke to my banker. He shed a lot of light on his as well. Thank you all for your input and advice. I think it’s safe to say just hire a home builder


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[Landrover]

Y’all are correct you can not GC your own home. Spoke to my banker. He shed a lot of light on his as well. Thank you all for your input and advice. I think it’s safe to say just hire a home builder


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U definitely need to check with another bank. I did GC with my bank (Prosperity Bank, Woodlands, TX). I had a consultant firm to help with build and supplied their information, but MY name was listed as the GC on the bank documents.

[Tex_Cattleman]

More than one way to skin the cat with your lender. Give me a call and we can discuss. I've got construction loans going all over the state.
Trey
512-203-5869

[deerplanter]

Y’all are correct you can not GC your own home. Spoke to my banker. He shed a lot of light on his as well. Thank you all for your input and advice. I think it’s safe to say just hire a home builder


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When i did mine my dad signed as my GC then i built ours and i would do it again.

[bigdaddy590]

I am in the process of doing this. On my bank info I couldnt be my own GC but I just got a buddy (who happens to be in construction) to sign as the GC. The person signing doesn't have to be licensed by state law but some banks have different guidelines. If you want to chat about it give me a call. PM sent

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