Wholesaling to a developer in Houston, TX - The Heights
Hello BP community!
I'm looking at a potential wholesale deal in The Heights area in Houston, TX. Average price for new construction in this area is between $600K-$1M. What I am curious about specifically is this: How much would a home builder look to profit off of a build in this part of town, and what should i anticipate their build-out costs to be per sq. ft? My initial instinct is leading me somewhere to the ballpark of $250 per sq. ft.
I'm trying to determine this info so that i can benchmark this into my wholesaling strategy in this particular part of town. It's a super hot are of Houston and home prices continue to rise as old homes are being torn down and new ones rebuilt in their place.
If anyone has any knowledge of not only this are of town specifically, but also building costs in a hot market such as this, that would be of great help!
thank you in advance friends!