I've been building one home per year in Tuttle, OK. I'd like to expand my company to 2-4 homes per year. Tuttle is a small town 25 minutes from Oklahoma City limits. The town has experienced alot of growth in the last ten years.
The homes I build are in the 2200-2300 square foot range and sit on a one acre lot. The homes sell for just under one hundred dollars per square foot. This price includes granite counter tops, 2x6 exterior walls, Trane heat and air, a three car garage, and many energy saving upgrades.
The floorplans I build have 1800 square feet on the bottom floor and 400-500 square feet upstairs. This extra space upstairs is layed out as an office, media room, and also a half bathroom. That upstairs space sells for the same one hundred dollars a foot as the downstairs space, but costs far less to construct. Much of the profit in the home comes from the addition of that upstair's space.
The last house I built had $195,000 in construction costs and a profit to me of $35,000. An investor would own the home. I would build and market the home. We would split the profit evenly. Email me with your questions. Thank you, Ryan email@example.com
That is a hard sell with the state of the real estate market nation wide. Would suggest you get out in your own community and network for local investors - might be an easier sale to them. Find other business owners or even doctors that have money and what to invest it in their local communities. You could, using the SEC's REG D, - set up your own fund to do want you want.
One more thing - have you asked your bank for a LOC? Many banks will provide lines of credit for what you ask - especially if you can show them the profit.
Best of luck.
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