However, there may not be a clear technical or legal definition of "new construction".

But in certain circumstances it might be a good business decision.

The other individual wants to continue leasing the space but wants to change business to a combo craft store and tanning bed salon and is requesting I add a 220 v outlet for a single tanning bed.

Then they struggle in their 2nd year when they have to find business via other channels.

New construction may be an option, many builders are offering rate buy downs and closing cost assistance and then you get quicker appreciation when they continue to build out the community.

Purchase price: $310,000 Cash invested: $350,000 This was a full rehab 6 unit multifamily building.Our firm did everything from locating and acquiring the project, to managing construction, and then finished up by leasing out all 6 units for a premium rent.We used a construction loan to secure the property and do the rehab. 12 month term which we were able to do construction and lease out all units before taking out the original loan with a permanent commercial loan.

Purchase price: $100,000 Currently under construction.

For me, who is on hte podcast has ZERO impact on my business and the benefits of a paid subscription for BP assist me in growing my business - and I make these decisions based on the business and not on emotions or my feelings. 

Both houses are new construction that was completed a couple of weeks ago.

My presentations were geared towards new construction, but there are ways to improve existing homes as well.The main keys are to understand how energy (heat/cold) moves through houses and how to eliminate the weak links in heat loss/gain.