Ground-up residential development, often called spec building, means constructing a new home on vacant land with the intention of selling it, on speculation that a buyer will materialize at a profitable price.
Log in to followI've been trying to figure out where I fit on the service side of this business, and last week a guy I know through a contractor friend asked if I'd "handle the project" on a spec…
First one went okay, mostly by luck. This one is a slightly bigger lot in the same county and when I filed for the permit they came back asking for a stormwater management plan an…
I have a lot under contract, 62k, and a builder who says he'll do a 1,900 square foot single story for cost plus 12. He wrote the number on the back of a business card, which I un…
Reading a subscription agreement and operating agreement for a spec build JV. 300k check from me, sponsor is a builder with what he says is nine completed houses. Two houses on ad…
Got a term sheet back for a single spec house, first one for me. Lot's already mine, bought it last year for 62k with cash. Build budget from the contractor is 288k for 1,850 squa…
There's a cleared lot two streets over from a subdivision that finished last year. Asking 78k, flat, water and sewer in the street per the listing. I've never built anything. I've…
Same plan set, same builder, same submarket, three houses in fourteen months. 1,850 square feet each. House one: 158 a foot hard cost. House two: 166. House three, quoted last wee…
Numbers first because otherwise this is just complaining. House A: 2,100 sf, framed and dried in as of three weeks ago. Lot cost 95k, hard cost budget 312k, spent 218k to date. Co…