Buying Dirt and Building Any and All Advice

[Lane Ewert]

Ok here is where I'm at. I've looked at a few properties to rehab and flip. So far out bid. So I've been looking at everything from rentals to even lonnie deals. However I really like the idea of buying some land and building and selling for a profit. So far on paper with me doing most of the work with a few "swinging hammers" I could get nice return. What my partial question is most of the posts that I have seen are for spec building. Does this mean they already have buyers or have a certain criteria that X buyers are generally looking for. I would also like to ask what is a good way for a self builder to build? I've looked at a lot of options and it seems like icf and sip are the most cost/time effective vs. stick building. In the last month or two I have literally seen whole sold neighborhoods go up. Where I'm looking I can find land for 24-30k and comparable around go for 200-300k at 1700-2000 sq ft. Am I dreaming that I could do this? Builders do make money right :)? Sorry for the long post ANY AND ALL ADVICE, STORIES, EXPERIENCE IS WELCOME. THANK YOU

[Jon Klaus]

Lane, there is so much to new home development, I'll just address a couple things.

How much can you build for per square foot? Including all your soft costs? You need to know. Sounds like you can sell for $115-$150 per square foot.

If you have to actually do the construction work in order to make an acceptable profit, the deal is too skinny. Not that you shouldn't do work to enhance the project and give yourself a job you enjoy. However, chances are professional trades will be faster and better than you at their craft. Don't get in the way and slow it down.