Building A New House
Can you still build a house and make money on it even though you dont have a home builders business. How can one do this the right way and make money. My City in a average almost to the crap area of town I see homes being gutted down and new homes built. The thing is these guys are still buying the prperty for around 35 to 45 K.
Thanks guys
Brad
Hi Bradley,
Contact your local building and inspection department to find out what the local and state requirements are for your area.
Good luck
Bradley, the answer to your question is yes. Here is something to think about if you where a builder or developer would you go into business and loose money at it. What I'm saying is if there is a number of new homes being rebuilt in this area maybe they know something you don't. there has been a big push in the last 10 years to revitalize some of the inner city's.Some times the city , state, county will give special incentives to build in these areas. Every city has what they call a master plan go see what might be going up in the near future, stay ahead of the curve instead of behind it while the land prices are still low. The smart builders learn to spot trends. One more thing go talk to the realtors and builders I never met one that did'nt like to talk up how many units their doing a month/year, I think it's ego thing. Good Luck!
Hello Brad,
I have purchase two such props at the same price range that you speak of. The first one purchased at 40k and the second one at 50k. I am having to spend near the same amount on the rehab work, but there is still 20% equity or more left after the purchase and repair cost.
I am doing none of the repair work myself. So the answer to your question is yes. There is money to be made in these types of investment opportunities.