Updated almost 5 years ago on . Most recent reply
Investing in building a residential house.
Hi, I am a newbie. Recently, I and my partners were able to get an investor who is willing to invest up to 0.6 million dollars. The investor is interested in buying land in NJ then build a residential one or two-family house then sell it. Then use the money to invest in buying another land to avoid sale taxes. I started by creating an LLC company. My next step is to become a general contractor so later I can give out some subcontracts to get the job done. currently, I am in the learning process. First question is where I could find a worthy land given the current market status? How to know if this land worth the investment or not? What I should be careful about while in the process of buying the land, during the construction, and selling the house? Any book, articles, Youtube videos, or websites recommendations that will be helpful for me?
In the end, any advice worth to know? Thanks very much !!!