It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up. 

Look for motivated sellers off market and market via cold calling and or direct mail, geofencing, advertising and the like.A good wholesaler is as @Ericka Parrott mentioned, direct to seller, did good underwriting and can deliver an actual "Deal" whether buy and hold or flip. 

I would compare it to you or the Seller buying down the rate permanently.

This is known as "margin".

Hi @Ken M. how are you getting around the due on sale clause being called when buying them sub to?

Does anyone have experience buying properties for cheap from land banks, renovating them, and renting them out/selling them?

Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

Hey @Mike Levene, I'd recommend considering a Margin Loan against your stock portfolio.

I think you can go as high as 15% but it's cutting into your margins and depends if you are a GC yourself or not. 150k is close to a million or more.