Originally posted by @J Scott:
Originally posted by @Khaled Helmi:
Originally posted by @J Scott:
Flipping is cheaper, faster and has less market risk. Spec building is more consistent on costs (fewer surprises) and typically generates higher profits (though not necessarily higher ROI).
@J Scott - Whats the learning curve to go from Flipping to Spec building? I'd imagine its much greater - is that true?
Much longer/harder. Writing a book that covered the step-by-step details of flipping houses wasn't very difficult -- I felt like I could capture 95% of the details in a couple books.
That said, I've wanted to write a book on spec building since we started doing it, but I don't believe it's something I can teach in a book. At least not very well. I could probably capture 60% of the details in a book or two, at most. So, I've given up trying (for now, at least :) ). It's really something you have to get your hands dirty dealing with the unique details of each project (and each location, each building department, etc); and having a mentor or someone who can show you the ropes is by-far the best way to get started.
@J Scott - that would be an excellent book idea as I'd be the first one to buy it.
Your other books are must reads for flipper newbies (helped me a lot) but I have yet to find a good book (for newbies or not) on new residential construction or Spec Building. If anyone has please let me know, but maybe J Scott is accurate that its a bit difficult to write and that's why it hasnt been done (at least my knowledge).
But then again one of the famous rules of investing is that to find high-returns you have to go where people don't go. So maybe that's why you SHOULD do it! =)
