idea for new BP Calculator
Hey everyone! Hope all is well with yall. I've done 2 new construction projects thus far, and plan to do more in the future to have some exposure to market trends and to have nice capital injections every once in a while to pay down on my LOC's. I like new construction more than flips as there are less unknown factors. I was wondering about methods yall are using to come up with asking prices for lots where spec houses will be built. Maybe this is could be a idea for a new BP calculator tool? As of now, I'm just working backwards, figuring out from my agent what Sold prices per foot the area can withstand, designing a house with square footage to match the neighborhood, making sure there's a large enough margin between what my turnkey cost is and what I think it will sell for, and then finally splitting what the $ left between what I can offer for a lot and what I wanna keep for profit. I'd love to hear about how other folks do this.