Building a House for Resale

I am thinking about Building a single family home or possibly a condo to resell. has anybody done this before? How do i go about financing something like this? I would be my own General Contractor. When doing this, is there a percentage that i should generally try to make?

Umm do you have land? You can’t just build a condo, I think you need more than one. Building is a pain, you have to work with the local Goverment(s) and have pay thousands in permits and approvals. Than you have to please the neighbors and hope that everything works as plan. There is a lot of work in building a house and it is not done as quick as you think. Yea sure Toll Brothers can build a house in six months or less but they have constructions crews hired, permits in place, (maybe an inspector in the back pocket) and they have been doing it for years. How much money you make will be detirmined on the local real estate market. If you build a 3br/2ba home that costs 150K but 3vr/2ba homes sell for 70K you are screwed. You have to determine what you are building is desireable in that area.

where i am at i can buy land in subdivisions that we have designed and built for 75% of market value (I am a civil engineering technician). Which in this area (Sioux City, IA) i can get a piece of ground for about 15k. I can put up a 1800SF single family for about 100k including land. I would sell the house for $160,000asking and probably get $135,000 after its all said and done. I just dont know the whole process of doing this, how to get financed and what not. Also, if worst came to worst,i would live in the house. I live with my g/f in an apartment