I’m interested in buying land and building homes, turn around and sell ‘em and make profit…. How to get started?? We don’t have alot of money , we would have to borrow the money to buy & build, and would love to make a profit and continue buying & selling. We are new at this… We would like to retire early one day off of doing this.
How to buy land & build homes and make a profit?
I’m interested in buying land and building homes, turn around and sell ‘em and make profit…. How to get started?? We don’t have alot of money , we would have to borrow the money to buy & build, and would love to make a profit and continue buying & selling. We are new at this… We would like to retire early one day off of doing this.
Well it’s good to start now because the market will probably have turned back around to the seller’s favor by the time you finish building your first house. If your credit’s good then you should be able to obtain construction perm loans, which allow you to buy the lot and the house, and you won’t have to start making payments until construction is complete. Building homes is a great idea if you can at least do the contracting yourself, but otherwise, I think buying distressed homes and flipping them could be somewhat more lucrative. Best of luck and I hope it pays off!
Flipping homes is a lot easier. Start off with cosmetic fixers and work your way from there. Spec builds take a lot more time, money and knowledge.