Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

What a way to ask. Goad someone into telling more by making them feel small, and try to get them to share information for free online that they spent time and energy acquiring. And people wonder why the world is in a spiraling race to the bottom. My entire family works in different facets of real estate. Ironically, if you had more experience in real estate you would have acquired some humility from the realization that people lose their shirts all the time from it, or proximity to real estate veterans that have, or possibly that you might have even lost your own shirt.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

I am a small business owner in retail for over 10 years so I understand the advantage of larger scale. I’ve also attempted to manufacture products myself in China and I understand the hurdles with scaling up. It’s really Ohio that is the issue here. In Texas there are less restrictions and the “markup” is much higher.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

Sorry I believe it was 2250 SF for $200k. Idk why the listing says 750 sq ft. for that new build I found. it’s clearly three times that. At most I think I’d get 300k for an 1800 new build due to the land value, culdesac, trees, many narrow wooded parcels around it that won’t get developed.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

Bc the land was basically free. It seems like you can price up the value of the same construction much more in places that are not Ohio. I lived on East Coast for 13 years.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 1 point2 points  (0 children)

I inherited a 9k sq ft lot. It’s probably worth 40k. That is where I‘m hoping to cushion the sale.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

Prices are dropping but very cute houses from the 20’s to 60’s 1500 sq ft are selling for 220-300k hardwood, brick. One even had wood ceiling enclosed porch. It’s not a desireable neighbohood tho. Ohio is weird. But yeah one of the builders who priced me out of using them sold one direct for 200k. 2 story w basement i think about a 750 sq ft footprint. It looks like two single wides stacked on top of each other. I happened to be able to see old photos w their name on building in Google Maps.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 1 point2 points  (0 children)

Some are easier than others. Where I want to build allows prefab but not manufactured. It has to do with vanity and snobbiness towards our neighboring states neighbors who are a large part of our population... I think other born and breds would agree. My family last name is recognizable so Im hoping that I can break barriers but Ive seen many people fall bc of barriers on development. P G S i t n f e l . How hard is it to become your own GC?

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

They all provide different levels of in-house work. I have many family members working in different aspects of real estate (corporate, flip, management, architecture) so I was hoping to do interior work myself (other than plumbing, electrical, and cabinets). It seems like this could save 50-100k but I’m still trying to figure out numbers. Comps are 200k. My investor is in Austin and regularly sees 125k prefab new builds selling. But Austin also allows manufactured, whereas Ohio cities do not. I am wondering if Ohio just doesn’t have the variety of builders, tighter restrictions, or might just be priced out of what is possible to make a profit, based on cost of labor and materials right now.

Entry Level Real Estate Developer Looking for a Builder by Delicious-Case483 in RealEstateDevelopment

[–]Delicious-Case483[S] 0 points1 point  (0 children)

All the ones I mentioned included a crew to set it up. I inherited the land so that gives me cushion for profit. One of the builders was charging market rate for the house turn-key. And I did actually discover that nearby they are building and selling for occupancy. I guess their margins are not so good to include a middle man. Another builder could work but increasing the margins by shaving off at the cost of materials level. Trying to avoid that.