Residential Development (Single Home)

[Nathan Follett]

Hi, New to the forums and bigger pockets.  I have owned two rental properties for about two years, but now am looking to move into building new homes and selling them.  Basically residential development one home at a time.  Are there any good books out there that discuss this specific type of strategy or give insight into it.

Thanks, Nathan

[William Hiday]

Hey Nathan.  Whereas I've never read any books on building spec homes, I do have 10yrs experience as a homebuilder.  There are more strategies and schools of thought than you could possibly imagine, but the biggest factor might actually be your geographical location/market.  Who would you be competing against down there?  Are you aiming to build a product that would fit in the lower end of the market or the higher end?  Do you own any ground?  Do you have your license or would you be hiring a contractor to do the build for you?  If you're going to hire a PM, how will he be compensated?  There's a lot to have ironed out before you take this plan out of park!  Feel free to hit me up as I'd be happy to answer any questions you might have.