My real estate agent, who has a long prior career history in construction, seems to be happy with both the properties and has inspected them in detail and also been under the crawl space noting new plumbing, electrical and foundation sister-in-law beams too.As mentioned it is looking very likely the current buyer will not meet the closing deadline at which point I am next in line and have got price agreed with the back up after a few phone calls today. 

Here in the Reno, NV area there are new construction homes that have tenants already in place, paying above market rent, and the builders are offer 5.5% interest if you use their lender.

Purchase price: $204,000 Cash invested: $30,000This deal was an almost brand new construction in an up and coming area on the outskirts of Houston, TX.

. $7000 closing costs on a $420K property plus an additional $30K for construction loan.

Get approved for construction loan (This is normally a loan at an 80% LTV, right)3.

Often we can get a bridge loan with cash back at closing as well as the remaining rehab budget in construction hold back in one loan. 

New construction going for so cheap in this area as opposed to how much new construction goes for New Jersey made me very interested in just purchasing something that is already completely done and hopefully good to go for the next few years.

Typically where the builder goes into a smaller town or area build a small phase and then moves out to another county or town leaving not many new builds in that area to offer new future construction home sales.

Building permit lists are public records that document permits issued by local government authorities for construction, renovation, or demolition projects.

New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land).