Ground up new build Cypress Texas

4 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $18,500
Cash invested: $1

This is to be a new ground up build for our own personal home, it’s about 2 miles north of our current home. So far it’s been cleared, then started to build a privacy fence, which got shut down by the Hoa, long story. The boat shot is right after Hurricane harvey, so this will not be on a slab house.

What made you interested in investing in this type of deal?

Further from 290 highway

How did you find this deal and how did you negotiate it?

Driving for dallors

How did you finance this deal?

Cash

How did you add value to the deal?

Will build new house here

What was the outcome?

In progress

Lessons learned? Challenges?

Hoa will drive you nuts, even when they are not in a position to control things, months of letters and phone calls, sample fence built and demoed at meetings , all to find out they can not even control this, as it’s controlled at the county Level.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Private party cash deal

Update - I decided to sell this and concentrate my time on cash flow properties. I listed it at $49,950 and it went pending in less than a week at $45k. I had spent about $6k on clearing and the fence. So gross profit is about $20k.

Everything near by is selling in under 30 days, unless it’s a dump or way over market which is around $110 sq ft for finished houses, and this area requires 2000 min sq ft, average size is much higher.

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