New home construction in Oregon

[Say Teoh]

Hi there, anyone in Portland Metro area (Oregon) has experience with buying a lot and building a SFH for resale? I would like to speak with you on your experience, cost calculations etc.

I do see some spec homes available on a few custom home websites, based on the cost they quote, might be profitable to build a new home in the right area. Or going the hiring an architect and GC is the way to go?

Thanks

Say

[Jay Hinrichs]

@Say Teoh   of course this is a big business in PDX market.. your challenge will be buying the lot. its UBER competitive.. you will need to find a lot and close in 5 to 10 days all cash if you want the best price. that's what the guys that do this for a living do.. IE Everett custom homes.. Palazzo , Brent Keys, to name a few.

I have one pop top going now in Hawthorne.. 350k for home 250k to pop top it.. I look at that as new construction basically.. I have another 30 SFR's going around town... on lots I bought 2 to 3 years ago.. the very last buys were I got the dirt for great prices..

the margins are tight here.. so If you are not right on top of it you could end up not really making any money.. your other issue will be unless you have cash.. will be find anyone to loan you construction loans.. If your doing your first one you WILL need a vette able builder and again will be tough to find anyone to fund your first deal for you... this is were I come in for a few of the guys around town.

Good luck

@Tim Richardson  I like Silverton I remember doing timber deals up in the hills there in the early 90

's and parking downtown 1 cent and 5 cent parking meters.. LOL.. have not been through there in years though.. I flip a few tracks there Webb lake.   I like your idea though. you could probably find decent price on spot lots there and or Mount Angel.