Land Development in Atlanta

[Stephen Goodwin]

Hello,

I am new to the Real Estate game in terms of me never building, or flipping a house. Though I believe I have found a monster of an opportunity in Atlanta, Ga. 
I need some help on running the numbers for this project since I have no experience with these things. It is a land plot for sale around homes that are worth 1-2m and I plan on moving forward with the loan and getting the property under contract asap. What is my main concern is how much it would cost to actually build a house that is worth that much money on this land.

[Mike Salisbury]

Rule of thumb is lot is 20% of sales price of home. Demand for location plays into this- Brookhaven, Ansley Park are in more demand than say Chamblee.

Most $1.5M custom homes in Atl.  can be built for $125 per sq ft. for pro designer finishes and traditional style. Unique Modern-style homes can go over $210 per sq. ft. due to unique materials- concrete, storefront windows and large open spans.

Feel free to contact me with more questions as you get into this opportunity.