>buy a small piece of land >buy building materials >build

>>1138740
>be bunkerbro

Why aren't you doing this?

>>1138740
My land came with a house included..

>>1138744
But if you bought empty land and built a house on it and then sold it all, you would make a profit.

>>1138740
Im skint and live in a police state

>>1138748
Lol no

how do you even build a house
sounds like a lot of work

It's generally cheaper to buy a house (with land, duh).

Cheapest land worth building on is 200k, add 50k development fee, 20k odd taxes, another 30k architectural and permits and now you are sitting on 300k without a house.

You gonna spend about 100k on the materials alone.
Let's say 150k with labour and materials and now you got yourself a house and land for 450. Gotta sell it for at least 600 for it to be worth it, but frankly your budget will be heavily strained with paying mortgage and building the house, you will likely sell for maybe 550 or start making a loss; heck if the land was worth 200k you might wait a long time to even get a good offer since there will be land with houses being sold for cheaper instead for brand new houses.


Tl:dr gotta have a big budget or just renovate and sell since shits generally not worth it for a new contractor

>>1138740
>pay cash for foreclosure
>gut and completely remodel house to your liking
>only owe on materials and what labor you outsourced
>owe 1/3 of houses appraised value, will be paid in less than 10 years
Worked for me

>>1138741
>be bunkerbro
>Why aren't you doing this?
Too poor and my country doesn't has bunkers to sell, or many bunkers at all for what that matters.

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>>1138740

>>1138762
Pulling number out of your ass. The post edition.

>>1138740
>buy land
>build storage rental buildings
>rent them out
>auction the defaulters' goods

Because this is a lot better and those rentals are 100% rented 100% of the time.

i hate carpentry
i hate house plumbing
i hate house electrical
i hate bureaucracy
i hate customers
its not what i want to invest my money in

and the main reason
its not what i want to spend my time doing

>>1138748
it amazing how with one sentence i know you've never built a thing in your life

>>1138740
it would take me so long to build that my profits would effectively come out to equal minimum wage

or, i would rush it and the shoddy workmanship would be so noticeable that, again, my effective earnings would be minimum wage

>>1138799
I had uncles do one then the other. buying and maintaining complexes us the way to go.

>>1138740
>because pic related.


Derpaduuuuurp...... build muh asset then cuck myself into giving it away.

>building new

>buying undeveloped land
Fucks sake. I mean, u can. But you would need the collective autism of this entire shitty containment board to pull it off...


Just do like rich men have been doing for generations.

Build businesses,

Sink excess cash into real estate.

Brank off into other shit as a hedge or to decrease boredom.

This isnt wolf of Wallstreet.

Sadly getting rich is a plan and precess more than luck or chance

>>1138884
Yap. U take a hit with tax law and competition is high because its cheap. But wtf is the worst that could happen?

You go under?

Muh 50 bay shop.

Yup.

>>1138787
Numbers for Innisfil ON Canada. Am contractor. Labour might be on the low side since I work myself and 2 others.

>>1138775
if you think renovation is easier than new construction, you are wrong.

>>1138740
If you buy it foreclosed or in an auction or something you can sell it at a higher price without building anything on it

>>1139231
Depends on the situation. Typically I would agree with you for a variety of reasons, convenience being one of them.
The post I made was one of personal experience, and in my case it was cost effective to gut the house down to the original structure, and build from that.

>>1139414
you gambled, and you won.

every time you peel back sheet rock you never fuckin' know what your going to see. vegas has better odds.

>>1139416
>sheetrock
I wish. I busted out more lathe and plaster than I care to remember. I was rewarded with the original ship lap and and poplar stud, which I couldn't have built for what I had in purchase price, and clean up. Hence the remodel instead of the bulldozer.
When I bought the property I was completely prepared to tear down and build new, just didn't have to.

>>1138740
Because its a pain in the fucking ass. I like flipping houses more.

>>1138740
Installing the water ways and dealing with the city cost more than the property is worth usually.

>>1138740
Because i dont want 30% tax rape

>>1138740
>house
>not several small apartments and enjoy the NEET life afterwards.

>>1138740
>building is hard
>big taxes on selling property
>houses never give a return on investment, the value is in the land

>>1138748
Step two in this plan is living in it 10-20 until it appreciates.

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>>1138740

>hello bank? I need 150k to buy some land.
>collateral?
>my house... which i need to build first on the land
>...
>I'll need 250k for that as well

>>1138740
>buy land with a house
>demolish the house
>sell it for more money because nobody wants some old piece of shit on their land

>>1138740
Why this occupation, specifically? Could be anything.

>>1138740
>live in Australia
>8 billion rules and regulations say I can't do this or I may get a booboo
>just pay a tradesman goy

>>1138740
there's no money in the house build. all the profit is in the land development, IE power/water/sewage/roads leading to the property.

I have no clue where the lot of you folks are getting your numbers from.

All throughout Ohio, Indiana and Michigan you can go into the older parts of cities and fine vacant land where the previous houses were torn down.

These parcels typically sell at tax sales for less than $10K, and they already have the water, sewer and power hookups at the street.

The most expensive lots I've seen are around $80K sold by a broke developer.

Then about $75K can build a basic grade 2 or 3 bedroom house on slab.

Rent that baby out for a few years at $750 a month then sell it for about $140K

that's midwest USA pricing.

It's amazing how many serious responses and long posts this baot thread has gotten.

>>1138787
He's right though. You can't profit from building a house. The cost of time and materials is higher than a house is worth

>Costs more money
>Doing this too much blows the housing market to hell
>Cheaper to flip existing dilapidated houses

>>1142286
This.

The only way you can make real money off building houses is by having enough to invest in a neighborhood. Basically, have enough to buy several acres and have a large crew build a bunch of mini mansions. Bonus points for your neighborhood having a HOA and connecting to a main road within 10 minutes of a freeway.

There are other ways you can make money from building houses, but it's an uphill battle and your profit margin won't be nearly as big.

>>1141572
Mortgages can be on land too, not just a house

And generally the land/house is the collateral for the loan

>>1138740
>buy
>Why aren't you doing this?
money

I've just now started in a decent career and becoming a homeowner might be a reality for me someday... How much longer will property be cheap to buy on foreclosed homes? I just want to have a home for myself within the next 10 years.

>>1138740

Because I live in the chicago suburbs and there are a ton of companies not only doing that but there is a ton of half finished suburbs and subdivision where they were building like crazy right before the last crash and did not stop.

I do need to get into my own home with a yard though. Bitch is I work in programming and dba shit so Ill always need access to the city. So I keep looking at the map and thinking which side of the city would have the best drive to work.

High speed rail when

They dont even have space to build the rail without fucking the commute to hell for years.

>>1142424
There will always be deals and you have ten years to study the market, study /diy/ and otherwise prepare. The trick to winning is knowledge, and most of that is free and interesting to learn.

>>1138740
>buy land
Way more expensive than the house is, where I live. I would need to move somewhere with a low CoL, but

>sell house
In a low CoL place, who would want to buy my house? It's not like many people are flocking to buy property in Susquoitafit or Devil's Gunt.