Investor · Anaheim · Member since 2019 · 2 posts · 2 votes
I've found a 1.5 acres in the center of a well known city in east Los Angeles. Across the street from the property are multi-million dollars homes. The only problem with this land is that it is on a hill. I know that you can fit at least three 3,000 sq feet homes with 3 cars garage easily. My problem is how do you find investors/developers? For the price of the land is a real steal and plus the new SB9 would be an easy cash cow. I's novice on this (so be easily on me) and wondering how much does it cost average to build a home on an angle of a hill. This could be over my head but I would like to know...
Nowadays in LA, you're probably talking $400 SF for a nice home with those extra footing and steel. So a 3000 SF house would be $1.2 mil. Just for the build.... add on for architect, engineer, school fees, permit costs, etc.
@Duke Tran research the local market, find out who's doing/building what you want to build, build relationships, and slowing build the team around you.