Building a Spec home

3 Replies

I am looking to build a spec home in the Oklahoma City metro area. I am curious about how to find a lot to purchase and any helpful tips. I am running into most developments have homebuilder restrictions and do not want to sell a lot to a new builder. Also what would be a good resource to find subcontractors. I have a list of subs from updating my rentals but don’t have a good resource to find a good framer and foundation guy. I look foward to hearing from you all!

Finding a lot to purchase shouldn't be that different than finding any other type of property. There are many methods, from auctions, door knocking, bandit signs, whatever. I work entirely within city limits, so haven't had any experience with developments or homebuilder restrictions. 

Question - are you a general contractor or are you planning to hire one? If you're hiring a contractor I would ask for their input (or just allow them to handle) hiring the subcontractors ... If you hold a license and are planning to manage the project entirely on your own, then I would suggest finding subs through your local licensing board. Ours licensing board has a search function and you can search by trade.

I'll agree a lot with @Leilah Davis here and I'll add that it completely depends on what your big picture goals are here.  If you are just wanting to build a one-off house then I'd lean on a GC/builder or a a company like Be Your Own Builder.  If you're wanting to develop, then flex those networking muscles locally and find the best trades that are hirable (many won't be since they are already booked solid with their go-to customers, but some newbies or some people who are a different part of their business cycle will have availability).  You won't necessarily have to worry with a license since our state's license law is nice and laxed in this area (a benefit until it isn't).

Admittedly this forum is chock full of agents, flippers, buy-and-holders, and many other types of REI folks but scant few OKC developers lurk here. They hold the golden knowledge for you if you're wanting to build serially.