Original Summary

Current situation I used to renovate houses that I bought one after the other. These were mainly rentals and I kept them as rentals (BRRRR method of real estate investing). Currently have $113k in cash, mixed business/personal cash. I live below my means at about 25k/year. Planning to spend $60k on another property (which will be rented out fairly quickly after minor reno), leaving ~ $53k cash leftover I have 2 vacant houses of my own to renovate (bought in cash, very little taxes and no other holding costs). I need to reserve about 45k for materials costs. Both are at 0% complete rehab (6+ months each). Coming up For a different house, refinance (out of cash) that I've nearly completed renovations. Should get back at least 100k . That will come in about 3.5 months. Property taxes will be due around then. That's about a 15k bite. For client projects, not my own properties, I'm allowed 50% of the contract price up front. Prefer to actually start work before getting that but I could get that draw whenever: Contract #1: $24k project, contracted but work hasn't started yet. 12k is 50% draw 10k gross profit Contract #2: $48k same deal 24k is 50% draw 15k gross profit Most of this work (roofing/siding) is subcontracted out. I planned on doing 1 bathroom remodel + 1/2 bath remodel + door installs and a few other odds and ends. Hiring situation Considering hiring my first full-time employee "Residential Maintenance Technician" Expected wage: $30-35/hr My estimated total employer cost: $40-45/hr My main concern is maintaining enough cash flow and work volume to justify keeping someone employed. Like I mentioned, before I did one house after the other alone and not any real contract work. What I'm trying to figure out How many months of payroll should I keep in reserve? Can I afford to pay a higher wage? For construction business owners or flippers, any tips? Any guidance?   submitted by   /u/tooniceofguy99 [link]   [comments]

  • 情报分类：工作与职业机会
  • 分类依据：内容涉及招聘、求职或职业发展
  • 信息来源：Reddit · Entrepreneur
  • 发布时间：2026/9/22 04:31:37