Do i need to hire a designer to submit specs?

Waiting on response from a couple builders I've spoken to thanks to ms Mitchell's advice I ask them the "true" price (specs etc) of the build.

I then fund the builder with a SPEC home loan, you sell the home(s) or refinance into a rental loan. 

Hi all,I've been browsing the site for a long time before joining...don't really know why I didn't do it sooner...A little about me:Licensed Charleston, SC area agent.Current primarily focus on brokering lease-Option transactions.Extensive background in the mortgage lending industry.I've been investing in flips and a few new construction spec builds since 2004.

Spec building is more consistent on costs (fewer surprises) and typically generates higher profits (though not necessarily higher ROI).

If you get the engineering report first, it will be unbiased, but if you have a contractor install something outside of his recommendation, you may end up paying another engineer to draw up new specs.

I just teamed with a seasoned investor in Westchester to build 2 new spec homes.

And, for batteries there is how much really nasty stuff in those?

Depending on city/county the time frame to get plans, specs, permits done and approved is 12-24 months. 500 feet with inexperienced owner hopefully with contractor who marks up the cost 500 X $300 foot for moderate construction or $150000 cost.

An Investor "Spec" Constrution loan looks a lot like a fix-n-flip loan, but you usually need to cover the cost of the lot/land while you get the plans, specs, and permits ready to roll.