Is new construction a good idea for REI in the CT market. I spoke to someone at work that is going to have a 1600sf ranch built for about 90K. He has to come up with the land.
Thanks
auggflo
Howdy Auggflo:
What is the anticipated rent and payment and expenses? Will it cash flow with100% financing or even 80% financing? If not I would look for other deals. Maybe building a duplex or more units may cash flow. You may consider build and sell if you can not make it with rentals.
thats $56/sq ft. unless you’re building a modular home where you’re the GC, thats impossible to get. if you’re interested check out
www.pmhi.com
I spoke with a guy that will be the gc for a modular project at about $105.00/sf. What do you think of that. I find the land.
Thanks
auggie
that sounds more reasonable. however i don’t know if its a good investment in your area.