All Forum Posts by: Wes Fontaine

Wow...140K isn't affordable in your area? That's what they're getting for 3-4K sq/ft homes? Thanks for the perspective.

As for developing:

1) Make sure your money is solid (you don't want to run out midstream or if a delay occurs...and something always delays you)

2) Get to know your local governing body (County Commissioners, Building Dept., etc)

3) Don't overpay for the land. Figure your development costs and then figure your per-lot development costs. You'd like your lot cost to be less than or equal to 20-25% of your total sales price (home & lot).

4) Interview a few, and find a good, engineer. This guy can make life easier for you...or a living hell.

5) Do not assume that you will sell all your houses in the first month!!! If you finance the project, you likely won't get your money until the final few houses sell...this can take a long time.

That's a brief "top of my head" sketch. I'll try to come up with some more for you.

Yes.

No.

I agree, Mike. In the entire equation, the appraisers are the only factor that aren't heavily regulated. Funny story:

I sat through some depositions (I am a recovering attorney..haha) involving the value of a proposed condominium project. The appraiser was being questioned as to his valuation method. He told us that he based the value of the proposed project on the value of other, similar, projects in the area. No problem, right? Well....seems he was comping projects that had not come out of the ground yet. A house of cards to say the least.

Bottom line: some regulating of the practicing appraisers might alleviate the original poster's concern about his competition monkeying with values to keep business.

I've got new construction within your parameters in NW Florida. Our area is the beneficiary of the huge government BRAC program, bringing over 4000 new military jobs (along with countless defense contractor employees) to town in the next year.

Drop me a PM if you'd like more information.

Wes

Thanks for the warm welcome.

Wes

Here in NW Florida, I'm building SFR at about $75-85/ft with land.

Hello Everyone,
My name is Wes Fontaine and I own a construction/development company in northwest Florida. We build single and multi-family homes as well as large scale subdivision development.

I'm looking forward to interacting with your active membership and introducing those of you unfamiliar with our little slice of paradise to the Emerald Coast of Florida.

Wes Fontaine
Eagle Building & Development