Fix & Flip vs. Build & Flip
Hello All,
Does anyone on here prefer to build and flip the new construction?
The market where I live has become extremely tight, I started flipping homes and slowly had to shift my business to buying spot lots to build new homes on. Now I'm finding even single building lots aren't leaving much room for profit so I'm considering multi-lot developments. Seems to be a big gamble in this market, especially with the road costs between 500 and 800 a foot.
I was lucky to find a decent 1978 home to flip for my next project, but I'm going to have to consider larger tracts of land in the near future and was curious what other investors are doing in tight markets where good deals are hard to find. Has the build and flip strategy worked for others and has anyone been able to scale it up to larger developments?
Any advice would be greatly appreciated!
- Luke