My partner and I got in over our heads as our first deal together. During the process of buying and flipping we also have been building a new home to resale here on the Mississippi Gulf Coast.
Now that we are more busy buying and flipping, we don’t have the time to complete the home.
does anybody know of investors looking for real estate like that, maybe to use as a second home or something. or somewheres to sell it.
your help would be appreciated
We’re going to be doing this in Lake Areas in Austin. Basically, you just need the demand. We have a very hot market, so it’s tough finding properties. Land costs have gone up, so people want to save on finish-outs. A local builder can do 50-90% completed houses.
We work with investors specifically, so will buy a 25% completion or so, then finish the project. Reason is because our investors want to build and resell, but holding costs and time to get the land prepared and all permits is a headache. If the “intial builder” does most of the groundwork, permitting, utilities, soil samples and initial due diligence, it saves us time and money.