New Construction Homes- What am I missing?
I’m a brand new investor located in St Johns County, FL. It’s difficult to find flip or rental deals here so I plan on building entry level new construction homes to build my liquidity. I know that if my #s are right, the home will sell which will allow me to build/sell 2 on the next go round, etc.
I’m wondering if I’m missing anything here in my #s so far?
So here it is:
Bought the land at a tax deed sale, plan to build a 1100sqft 3/2 home (entry level) with my own cash.
Land: $2400
Survey: $500
Quiet Title: $2500
Plans: $1000
Permitting: $3000
Impact Fees: $0 (impact credit)
Water connection fees: $5200
Septic system: $10000
Construction ($85 per sqft): $93500
Cost = $118,100