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Updated almost 5 years ago,
I know I want to build and sell..
I am sure the consensus is start small, and I agree. Swimming any unknown waters carries uncertainties, and doing so with no experience makes the trek even more hazardous. Hoping that displays by basic comprehension skills, I move onto my maniacal aspirations.
Moving abroad to take a teaching position. Will be traveling with wife and making a decent wage in a tax free country. But more importantly, the country is very good with expat loans, and with my wife and my salary we can secure a decent sized loan. But not looking to borrow more than 170,000 and even then, I'm not going todo so, until we have saved up several months worth of wages.
That said , I want to buy lots in neighborhoods with high property value and build. Being from New Orleans this can be less profitable with the variance in property value neighborhood to neighborhood. And admittedly from my research it seems more profitable along the west coast (duh i Know). So I've been looking at properties in places like east LA. How would you recommend one goes about building in an area that they don't live in, with the intention of selling?
Is it best to seek fellow investors/partners?
What if I want to build using container designs?
What litany of questions am I not asking?
Thanks