All Forum Posts by: Jared S.

Hi,

I have a little bit of money saved up, not much comapred to most people here (about 15k) and I was wondering if there is anything smart I can do with it that could help me turn $15k into 25k or more.  I thought about buying a lot and holding it (where I live in FL, lots are expensive though - some as much as 100k for 1/2 acre in nicer areas.  What would you do with $15k if you were wiling to take a risk and but something or use it as a down payment on something to hold onto, etc?

I may be able to buy a lot and hold onto it, but it wont be in FL.  Maybe SC or NC.  But not anywhere around me.

Just curious if I have any options - I know its not very muich money.  TIA.

great job, Bryan A.  I find building spec homes extremely risky - i'd love to do it one day but man the nervousness I feel about it not selling.  scares the crap out of me lol.

PS- i saw  couple peope mention Ashevlle bu not a lot of jobs there soa lot ofpeople cant afford a lot.  and housing is expensive there while jobs pay low.  i dont see that as a great combination, personally.

right where you are, FL.  ppl always moving to FL.  easily best growing areas in the Southeast.

are you going to act as the GC?  if you hire a GC to oversee, expect your profit to go down, obviously. 

spec bldg yields about a 10% profit margin, so just make sure you dont have any big mistakes, etc.  and of course if the house sits, that'll eat away at profits. 

maybe Karen Margrave can share the profit margin she generally sees but I'd expect 10%.

have you ever been to FL?  i live here and feel like FL has become a rental car.  sorry, rant over.

is that why you advised against in in your first post?  because you thought my employer would be against it?  i know a guy or two that i work with that flips houses on the side.  not sure how my endeavor would be any different, but like i said, i love my job and my employer and would NOT do it if its a no-no.

thx for the reply.  i was thinking 10-20% as well.  i can build a home for about 130k, a lot is about 50k.  and i can sell for around 300k.  all this would of course be depending on if my employer cares if i do it or not.  i love my job and my company so i definitely wouldn't do it if my employer was opposed to it.

I know it varies wildly, but what do you think on average a builder can make as a self employed, one man GC/owner builder, building a few modest homes per yr in the Southeast?

I love my job and wont leave my company unless they drag me out by my feet (HAHAHA) but since I'm in the biz, I'd love to know what I could make building a few homes a yr on the side (if my company allows it- I dont know if they do).