Hi BP family!
I'm looking for some advice. I own a vacant land in Mascotte, FL about 40mins west of Orlando.
Recently I saw two new vacant lands got bought by a developer/builder and they are building a brand new construction home on these 2 lots (12625 & 14599 Square Feet or 0.28 & 0.33 Acres) , the finish date is around Jan 2020. The two new homes already listed with realtors and list price is around $223k to $225k respectively, the house is about 1520-1530 SF.
So my question is the follow:
-If I can put down 20% my own money and borrow the rest with hard money or private money will I still able to make some profit after I build the new home and sell it with realtors?
-What is an average new construction cost for a 3 beds/2 baths/1 garage home in Mascotte?
**I purchased the vacant land 10 years ago for $66k (yeah I know I probably overpaid it at that time).
Hoping to get some suggestion or comments to see how can I maximum my profit. If anyone know any home builder/developer in Orlando area that are investor friendly I would like to connect with them as well.
Thank you for taking the time to read this post I know everyone's time is valuable, really looking forward to see everyone's reply.
Thanks,
Jack
