To build or not to build

[John Toerner]

I own 8 lots that are 30 x 90 and make up 1 big lot that is 240 x180.  The property does not have road access but has a right of way to build a road to the property.  If I build a full road to the property, I would have to build 240 feet before I would reach the corner of my lot.  I have never built a house before but am a little familiar with the construction process.  I bought a DSLD home before they built it and watched them construct it and live in a neighborhood that has had about 500 homes built in it in the last 6 years.  I would ride on my golf cart to the houses being built on the weekends just for fun.  I work with a retired man would can draw plans for houses and used to build houses.  He just built his own house.  I acquired my property at tax sale and have quieted title.  However, there could always be issues with title and title insurance may be difficult get.  I am thinking about building a 3 bedroom 2 bath house that is about 1800 square feet.  I estimate the cost to be about $200,000 based on no hard data but the DSLD house that I bought cost $270,000.  The builder told me that I could just build a driveway to my lot rather than build an expensive road.  I would probably build the driveway out of gravel.  I would like to do something with this land to make it productive.  I plan to build 3 houses on the land and build the house to sell or possibly rent.  I am renting out my DSLD home for $2,300 per month and I think that I can get close to that.  I like to own nice properties so I plan to use nice things in the house even if I have to rent it.  I am looking for any feedback on whether I should take on this job to build a house with the builder and if so, what should I be looking for that I may not be aware of.  I plan to build the house in Mandeville, LA.   

[Mike Smith]

I seem like a complete downer on these forums, but building new homes is much more difficult than most people think.

"I would ride on my golf cart to the houses being built on the weekends just for fun." - is not different than if I went on a restraunaunt forum and said "I want to open a restraunant.  I have zero experience, but my wife and I eat out a lot???"

If you want to become a builder, I would recommend working for a builder to learn.  I would give similar advice to someone that wanted to open a restaurant, landscaping company, hair saloon, etc.