Getting started by developing my own land?
Hello,
I am totally new to real estate investing as well as the bigger pockets community but I've found both to be very interesting. This seems to be an awesome resource.
Im looking to get started in flipping houses and the first step is finding the money.
My wife and I currently own a home here in Oregon City, OR. We have a giant back yard and Ive recently discovered that I have just enough square footage on my lot to subdivide and develop the new lot.
My questions:
If I subdivide and build a house on the new lot and then sell it, will I make enough profit for a catalyst to start my first flip?
Has anyone done this?
Would I just get some home builder to put a spec home on the lot or do something different?
Would it be more wise to just subdivide and sell the lot?
If anyone has any advice on this I'd greatly appreciate it. Its so cool to have a place to ask these questions. Thanks!!