I know this is a broad question and answers could vary greatly based on many factors including geographical location....but try to answer if you can offer any insight.
Can profit/cash flow be made with new construction SFH rentals?
I am in the early stages of investigation but my initial reaction is no. Mr. Morris on utube has a video or 2 pimping the idea but some of the numbers he quotes just don't seem realistic to me.
I ask because I would like to acquire another SFH rental or 3 this year. I already own 2 empty lots and may acquire a 3rd that comes with a house I am trying to get with seller financing. These 3 empty lots are part of the lawns of the rentals now....empty land that could be generating cashflow?
All 3 lots are buildable with no existing utilities....zoned for SFHs
Not enough information to provide a yes or no answer here. It depends how much you can get the house entitled, permitted and built for. Then how much would it rent for? Most do not build brand new single family homes to rent out. I believe with the low rents Ohio gets, it barely justifies building new apartment buildings in most areas.
Yah... I know much more detail would be needed to make a super accurate judgement.
I was just wondering if this is EVER done or pretty much impossible...
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