Building SFH in San Carlos
Hi all, I'm new to RE investing and would love to discuss a scenario and get your thoughts.
There is plot of land in San Carlos that I am looking at ($300k+ for 7000sq ft.) Assuming this plot of land is zoned appropriately and the site is ready for excavation, would putting down $500k+ to build a model 3bd/2ba home on the site for flipping a good situation? (or 2bd/1ba home if my risk appetite is lower)
I'd appreciate hearing reasons why could be a bad idea. I've been looking at all possible costs and I'm trying to figure out why this could be a bad deal. Thanks!
Most Popular Reply
I have not see a flat build-able lot in SFBA under 500K for sometime. Your first order of business is go to City Planning.