I took out a mortgage through the builders lending company DHI Mortgage but have since paid it off in full with the proceeds from the sale of my home in Maryland last year.How did you add value to the deal?

Sometimes it makes sense, other times it's the usual 10 year builder v homeowner battle...) 

Connect with Jacksonville Wealth Builders. 

I've been using a local bank and local builder for my projects in Florida then a refi into a DSCR after construction to get back as much capital as possible. 

There are still a bunch of new builds in my neighborhood and lots available, so it's hard to compete with builders right now - but I see that changing once the neighborhood is complete in a couple of years. 

Again, that's my opinion, but then layer in the fact that builders are building at a pace that is far less than necessary to keep up with new families and homes.

As an investor and builder/GC this has always been a confusing view on doing business with a contractor.

I will give you some of my highlights.People in Texas complain about their property taxes at 3% ours are about 4.5%.New York in general and Monroe county specifically are very tenant friendly.Depending  on the town, the code inspectors/police can be quite anal.Since Covid and the 2020 protests we’ve seen an increase in crime in the city and therefore weakening demand in the city proper and increasing demand for the suburbs.Industry is well diversified—University of Rochester (medicine) L3Harris (defense) xerox (IT) and paychex (software/hr)) and relatively recession proof.Population growth is low and therefore appreciation (except the past 4 years) has been moderate as well.There aren’t many builders in the area so supply is relatively fixed.Home (and rent) prices are both affordable with homes typically being less than 1/3 median household income and rent being similarly affordable.For single family homes at 8% rent will cover piti with about 100$ to spare in the A areas.

If you go with the new I’d really look into the reputation of the builder and see if you can get some references and then contact them and ask questions about anything and everything you can think of.

I suspect $100k will be at least $20k short if your permits and fees are accurate and not doing owner builder.