Is there profit in being a GC and building?

[Jerry Callow]

Hello - I have few friends that are buying empty lots around us, playing a role of GC to build a house (have learned it over the years with education and experience) and sell it. I have few questions

1. Approximately what % of sale price do GC's make? The location would be Northern California within 100 miles of Bay Area? I hear 20-25% is that correct number?

2. How do you learn to be a GC? Are there schools or books? The goal is to buy a fixer / upper and try to update and sell before building from scratch. What is the general learning path?

3. Is there money in building and selling individual properties as GC if you factor in holding cost, etc?