I have a few lots in Tujunga CA where I would like to put up some new units. I am new to RE, is this a good idea? Plans are to immediately sell after completion of construction and potential use revenue to start an even larger project.
Rough (i mean very rough estimates)....
say 3 units @1,300 sqft
price per sqft 220-250 (Thinking maybe pre-fab home)
Sell at least for 310 sqft.
Will dive deeper into numbers. Additionally, these units would be on "rare" horse lots (allowing horses- tough to find in Los Angeles).