Acquiring land to build new home for retail
I am a new investor interested in acquiring land to build a new home with no money down. Although I have never build a new home, I have been visiting some building companies to see exactly how the work is done. Since I am new at this, I am not even sure if I should start out with building a new home or just rehabbing an existing home. Looking for guidance and mentors in the Washington DC Metro area and will pay for their mentorship. Thanks much.
Generally speaking, there are more profits if you can buy raw land and then build a residence on it. However, it is a complex and often frustrating process to work with contractors, inspectors, etc. for 3 to 6 months.
Rehabbing, on the other hand, usually has a shorter timeline, healthy profits, and it requires MUCH less paperwork than building a new house on raw land. In my opinion, it is a better way to get started.
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