Posted by David Krulac on August 26, 2001 at 17:11:38:
on Rt 13. Run the numbers, as a genral contractor you should be making about 10-15% profit conservatively. Make sure that you count all costs, like driveway, curb sidewalk, well, septic, utility hookup, permits, and interest until sold. Good Luck
Buy-Build-Sell - Posted by C.D. Donato
Posted by C.D. Donato on August 26, 2001 at 15:03:37:
This question may have been asked before,but I’ve just recently found this site.An excellent site!!! My question is, what are some of the do’s amd dont’s of buying a lot,building a home on the lot,perhaps a modular home,and re-selling fast.I’m SURE somebody out there has done this sort of deal.In DE. you have to put 20% down on the land and then get a construction loan? Am I on the right track so far? Also,I found some land in Earlville,Md.It’s near Galena,Chesapeake City,Turkey Point. Any body familiar with that area? Thanks again.
Been there, done that, sold the Tshirt. - Posted by Mark-NC
Posted by Mark-NC on August 26, 2001 at 22:27:57:
CD,
Unless this is something in your blood and you just have to do it, go for it. But Like David mentioned below most builders are working on 10 to 15 percent profit. Now if you think about it that is a lot of time effort and money to lay out for that little bit of a profit. There are just to many easier and profitable ways to make money in this business with out going through the hassel of building a home and selling it for profit. And believe me, there will be hassels.
This is based on my experiance as a past building contractor and I emphasize past.
Mark