Building Spec Homes For Profit
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There are many successful practices in real estate investing. Real estate development, especially the building of residential spec homes, is in many investors' minds the most profitable of all strategies. Building a spec home offers the speculator/investor generally high profit margins when done correctly. However, developing properties can require a significant investment of time, from initial purchase of land to selling of completed spec home. In addition, there will be many issues that can/will arise while a property is being developed (built).
When building a spec home from a raw piece of land, it's important to understand that you will need many different professionals available to help you complete your project: a great Realtor, architect, contractor(s), lawyer, banker, surveyor, and appraiser, just to name a few. Even if you have previously built a home in the past, many speculators find that every new project brings its own issues and problems that will need to be ironed out before completion of the home. Michael and his team specialize in assisting small residential speculators, builders, and investors looking to profit from building and selling spec homes in Tucson and the surrounding areas. Michael offers two plans to assist in his client's success.
Plan 1: Michael and his team will just help the client to identify pieces of land that should work for the home and budget the client has in mind. They will assist the client by giving an idea of what current homes in the area sell for and what they have in amenities so that the client can tailor plans to make the most profit with the spec home upon completion. Once the property is complete, Michael and his team market and sell the property.
Plan 2: Michael will partner with the client and take a hands-on role to assist in locating, developing, and selling of the spec home. Michael himself and most of his team members have extensive experience and knowledge of the building process and all the relationships needed to develop a property. (Michael and most of his team member have worked in the home building industry for both major and local homebuilders, and have years of experience dealing with the home building process.) Partnership agreements vary and would be worked out prior to any part of the developing process taking place. This is ideal for those who are new to building homes or for investors who prefer a more hands-off approach to their investing practices. It could also be ideal for those who would like to build spec homes but live out-of-town or state and will not be able to manage the project all the time.
If building a spec home(s) is an investment strategy you would like additional information on, please contact Michael directly at (520) 247-4134 or fill out the questionnaire at the bottom of this page. Specify in the comments that you would like to obtain addition information on the development of spec homes.
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