Buying an existing home and tearing it down...

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and I would like to build a brand new house on the lot. I am looking in an area that this has been very popular. So my new house will not stand out or appear odd.

I am not a builder. However, I have a good friend who is a builder. He told me that he can build me a brand new house at cost plus 10% markup and I can sell the house and still make pretty good money. Does anyone have an opinion on this? Can I still make money using this model?

Thank you! I am new to this board and I am pumped to be a part of it.