BiggerPockets

Hello BP.

I'm looking for a jv partner on some new construction. The lots are located in an attractive and popular new subdivision. Here are the details:

-Number of lots: 6
-Price per lot: $5500
-Construction price pr lot: $25,000 (currently completed one home at a cost of $20,000. $5,000 extra is for cushion.)
-Average selling price (in subdivision): $105,000
-Target sells price (of these 6): $95,000
-Commision & holding(est): $10,000
-Total build up price (per lot): $30,500
-Profit per lot: $54,500

There are a total of 22 lots available (including these 6) so aquiring the rest depends on the strength of the jv partner. My construction company has over 35 years of experience so the process is down to a science (barring mother natures input of course).

If your interested or have questions please let me know.

Thanks for the reply Rich.

The price is that reasonable because of bulk purchases, package deals from vendors, stock on hand keeping our overhead very very low. We carry all licenses in house (elec., HVAC, etc...) so know subs.

One was already done at $20,000 so $25,000 to $30,000 is conservative.

Rent for the area is around $700.