It’s Not Just “Home Building,” It’s “Wealth Building”

An Interview with a long-term client of HomeWrights Custom Homes.

When our Owner-Builder client started building his first custom home in Denver, the market was going fine when he broke ground, but not so well by the time the dust settled and he finished construction. Yet, he knew this was a business opportunity. He was a competent real estate appraiser but had no experience in construction.

This client was not a builder, a contractor nor a hands-on craftsman but he did have a knack for finding building locations with great potential. Bob Hinz, owner of HomeWrights Custom Homes says, “He’s got the magic touch! He just seems to be good at spotting opportunity all over Denver and sometimes in building locations you wouldn’t expect!”

“I did intend on turning this into a business. My goal was to create some extra income or more importantly, wealth building.”  — HomeWrights Owner-Builder Client

“I did intend on turning this into a business. My goal was to create some extra income or more importantly, wealth building. But I did not have the construction experience – that’s why I needed HomeWrights.”

This client is in a rhythm of building a new custom home just about every two years. That’s his business model. Build it. Move in for two years. Start another one. He’s on his sixth home now, with the help of HomeWrights. Living in the home for at least two years can provide significant financing and tax benefits (check with your tax expert for your unique situation). The home he is building now will be sold as a spec home.

What tips do you have for finding a profitable building site in the Denver area?

“I’m attracted to the areas I’ve done work in before so it’s more of a personal preference for me. And it’s been nice to live in these areas. I work mostly in the central part of Denver with desirable neighborhoods. You might not always have the best selection of lots and you might pay a little bit more but I find with the end product I get, it’s more than worth it to do that way.”

“Bob has been involved in so many projects there’s just no way to have that volume of expertise on your own.”  — HomeWrights Owner-Builder Client

One of the biggest benefits this client believes he gets by working with HomeWrights as an Owner-Builder, is their construction expertise. “Bob has been involved in so many projects there’s just no way to have that volume of expertise on your own. With HomeWrights, I find that the more that I learn, the more questions I have for Bob!”
This client went on to describe how HomeWrights Custom Homes is good with the technical, mechanical, and even with the permitting process. “They’re good at dealing with the city as far as getting approvals and the hoops you have to jump through for that as well.

What it’s like to live in a home built as an Owner-Builder?
“It would be hard NOT to live in the house I built going forward. You know what you want, you know the quality and how to get it. It would be hard for me to live anywhere else at this point.”

“Obviously it’s worked out well for me, I keep doing it and Bob’s a great guy to work with.” — HomeWrights Owner-Builder Client

How much time does it take to be an Owner-Builder?
“I’m more hands on than some because that’s my personality. But I’d say I put in 20-30 hours a week at the most during some of the busier times. You could definitely get away with less than that but I just enjoy it. It’s a lot of work and I like to take a break between projects but once I’m finished, I get anxious to start another one!”

Summarize what HomeWrights Custom Homes does for you as an Owner-Builder.  
“Obviously it’s worked out well for me, I keep doing it and Bob’s a great guy to work with. If you are thinking about building a custom home, I wouldn’t try it on my own! Obviously going through a general contractor would be a lot more expensive than using HomeWrights but doing it without HomeWrights means you’d be setting yourself up for some pretty hard times!”

Questions?

Contact Bob Hinz at HomeWrights Custom Homes to explore your custom home building, wealth building opportunities!

See our related article “How to Flip Houses in Denver’s Hot Real Estate Market.”