What I would like to do

General Real Estate Investing
1

What I would like to do is build house’s and sale them. What I don’t know is where to start. I have someone that know’s how to build the house’s and he has all the contacts and is willing to work with me but I would like to know something about what building to before I go ahead and start.
Where do I get started with questions, I have so many.

  1. What should I do 1st? Let me start there. Can anyone share some info and knowledge?

Thank You
Auggflo

Thank You

2

What is your experience in land? Do you have money? Remember you have to bring something to the table. Either money or land.

3

I would spend a little time learning about land first and how surroundings affect it. Where you build your home is where it will stay so knowing the area to a T is a must.

Before you build the house, you need the land. You need to know many things about this piece of land such as:

  1. What utilities are present, what can be brought in, and what is the connection costs.
  2. If there is no sewer possible, you need to perform a perc test on the land and it needs to pass because you need to use a septic system.
  3. Is the land solid to build on?
  4. Is there public access to the parcel and are there any easements?
  5. Is the land zoned for what you want to build?
  6. Are there any building restrictions? IE stick built homes only, 1500+ sq ft and so forth.
  7. What is around it? Would not make sense to build a nice new home only to have a commercial office building go up next to it or a public sewer station. Also if the land allows MH’s, your home value will suffer if you are surrounded by MH’s, trailers, and so on.

You may wish to buy a homesite in a development. Doing so can add value to your home and the entire area will be under the same restrictions. Still, there are risks with everything. Like I said, you need to know the area well.

Depending on where you live, building a home can cost a good deal more than buying one already there. So make sure something sets your home apart like location and extras (size, built-ins, etc).

Try to locate others who have done what you are doing. I can’t give much help as I have not built my own home yet. I own land, but that is as far as I have went thus far. It is a goal of mine. Some of my family has made millions doing it. Make sure you account for construction overages.

Good luck!