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Updated over 1 year ago,
New construction duplexes
Hello I'm wanting to build duplexes in Houston, Tx. I have an area that I'm focused on that's hot. I have a architect I'm been talking to. Other builders that can help for guidance in the area. I want to shadow a general contractor through the whole process because after two or more builds I want to take over the projects from there.
My rough estimate for the project:
80k for the land
170k to build
Sale price range 330k to 450k (based on comps)
Net profits should be 80k to 230k per a build.
I will have skin in the game as well. For 50k to a 100k.
Rents will be 1400 to 1800 per side.
3br 2 baths each side
What I'm looking for:
I'm looking for investors who want to make 20% return on there money when the property is sold. (Short term investors)
Also looking for investors how want invest and hold the property. Where they can good money on a low build but yield high rents. (Long term investors)
Or other builders in Houston or wherever that want to joint venture or work together some kind of way. (partners).
And anybody else with help, experience, or guidance would be very much appreciated.
I plan on making this a full time job for myself.
My background:
I do own other real estate that I had to renovate. So I'm knowledgeable on building and constructing existing structures.
I have a degree in engineer. So I understand blue prints. I understand processes and how the proper sequences should flow.
I owned a business before so I understand businesses and the way it should be conducted.
Please contact me if you have any other questions.