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Updated over 2 years ago on . Most recent reply

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Paul Johnson
  • Investor
  • North Olmsted, OH
13
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11
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When to sell my my home when getting one built in another state

Paul Johnson
  • Investor
  • North Olmsted, OH
Posted

I plan on selling my home in Cleveland, Oh and build a house in Florida not sure when to start the Sale or Build process. I have already purchased the land cash and have about 150k in equity in my home I'm selling and plan to use that money for the new house I also can use the 89k that i purchased the 7.5 acres with. I also want septic, solar and a pool so now I'm not sure when to bring these subcontractors into the process. I found the builder i want to use and is vetting them now. I own 27 doors following Bigger Pockets suggestions over the years retired 2 years ago. any advice would be gladly appreciated. Thanks in advance

  • Paul Johnson
  • Most Popular Reply

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    JD Martin
    • Rock Star Extraordinaire
    • Northeast, TN
    15,797
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    JD Martin
    • Rock Star Extraordinaire
    • Northeast, TN
    ModeratorReplied

    Sell as soon as possible if you need the equity in the home to pay for the new home. I have a fun story you can listen to (in my signature) where I did just what you are talking about doing and lost about $100k in the process. Just click on that "Podcast #243" down there. 

    You don't "want" septic, you'll need it if there's no sewer system so that needs to be in on the front end of the entire process if you're acting as the GC (General Contractor) because you'll need that permit to build and/or occupy the house. Pool and solar could just come later but no point in not involving them from the beginning so they can look at your footprint and orientation and start designing something that will work for you. 

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    Skyline Properties

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