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 followFinished and closed last month. 2,340 square feet, two story, four bed, in an established neighborhood where similar houses trade between 545 and 590. Mine appraised at 508 and so…
A guy I know through my brother builds one or two houses a year. Last time he had a lot and a construction loan but needed money to cover the gap between draws, and he offered me…
Two years ago I put 62k into a spec build as a second position loan behind a 240k construction loan. Roughly 2,300 square feet in a decent suburban submarket, as-completed apprais…
Numbers first. Lot was 88k, infill, already platted. Build budget 388k for 2,350 square feet, four bed, standard plan I'd seen a local builder run three times. Sold at 512k. Actua…
The lot cost me 62,000 cash and the finished house closed at 452,000, eleven months from the first excavator to the closing table. I own a couple of small buildings and I'd never…
1,720 square feet, three bed two bath, single story, small city in the middle of the country where the median is around 350. Sold at 392 with a 26 day marketing period. Numbers as…