I still like new const over rehabbing

[Rich Weese]

I've previously posted results of homes built recently compared to rehabbing. Due to our area BOOMING with new buyers, my most recent closing is what I consider a home run. From first shovel to receiving escrow closing check, less than 90 days.(and that was going through Thanksgiving, Christmas and New Years Holidays!)

The most recent home closed on schedule last week. Nice homecoming present after 2 weeks in Dubai. Here are facts of deal.

Lot purchased 1 year ago for 50K.
Total const costs including loan costs $201,140.22

Total Costs $251,140.22

Sales price $349,900

Net proceeds after all costs, commissions, etc.from closing $330,809.12

Net net $79,668.90

My investment was 50K and return was approx 160% in one year. I still feel there is much more potential in many areas doing new const rather than rehab. Anyone else agree with that? I'm just starting home # 5 and building same plan in same area. #6 should start here in 30-45 days. Rich

p.s. If I'd started this home right after acquiring lot, return would've been over 500%. Home just started is on lot just purchased for 68K. This one could be even better return. CRAZY good in my area