Currently, I am in the demolition and excavation business here in Dallas, TX. However, I have been observing the landscape here and I find custom home building to be lucrative. Especially, in the Park Cities area & the newly up and coming Lower Greenville area. For example, the homes in the Park Cities area appraise for around $500K + and in the Lower Greenville area, home owners are being offered around $200K for their properties. You may ask how do I know this. I must confess that the majority of these custom homes that are being built, the company I work for demo and excavate many of the properties. However, I am looking to either custom build homes ( in low income areas) or rehab properties in low income areas. Which I personlly think will be a win-win situation for both the community and myself. The thing that stops me short of my goal is the financing of building custom homes or rehabbing homes in low income areas. The idea seems perfect but getting profit gaining financing with less than perfect credit makes it seem like an uphill battle. I am open for suggestions.
