Shared Top Border
sdcia_head3.jpg (14795 bytes)
SDCIA Message Board
Sign up Latest Topics
 
 
 


Reply
  Author   Comment  
MrStoked

Member
Registered:
Posts: 3
Reply with quote  #1 
I'm a total noob to real estate investing so I thought that I would start off with a piece of land that my family owns in Hesperia, CA (near Victorville.) It has street hookups for utilities and the area around it is developed.

I was at the last meeting and afterwards I was speaking with a really nice guy. He suggested that I find a home builder in the Hesperia area to partner with. I provide the land. The builder provides the materials and labor. Then I find financing from the club. And then split the profit 50/50.

Sounds like a good plan but I have no idea how to find a reputable builder in Hesperia. All of the builders I'm finding via Google are bigger developers like KB Homes, etc. Other Google results come back with plumbers and electricians. Makes me feel so stupid since I own a successful digital marketing business! [crazy]

[biggrin] During the futility, it occurred to me that you fine people might be able to provide a shortcut by recommending a great home builder in Hesperia. And maybe a financier?

Here's the property address and info:

9161 La Grange Ave
Hesperia, CA 92345
https://goo.gl/maps/ATf6FjfvS3s
APN (Assessor's Parcel Number) #041135418
Lot 115 of Tract #5408 as per recorded in Book 66, Pages 59 to 67


__________________
Thanks,

Ed "Mr. Stoked" Brancheau
MrStoked

Member
Registered:
Posts: 3
Reply with quote  #2 
Well, I'm not afraid to ask fine and knowledgeable people like you because I know that I don't know squat.[confused]
__________________
Thanks,

Ed "Mr. Stoked" Brancheau
rickencin

Avatar / Picture

Senior Member
Registered:
Posts: 1,062
Reply with quote  #3 
What kind of CAP rates are you expecting to get in Hesperia?
__________________
Rick
Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #4 
Put the lot up for sale on a "for sale by owner basis" and see if it attracts any attention. Maybe you'll get a solid offer that's attractive – that will eliminate all the execution risk you'll have with new construction.

Take your profit and invest elsewhere.

If no sale results, you'll at least have spoken to some builders and investors and learned more about your property, its potential and maybe even a joint venture with a capable builder.

This might not be the best time in the real estate cycle to consider new construction.

Good luck.


MrStoked

Member
Registered:
Posts: 3
Reply with quote  #5 
Thanks. I heard something very similar yesterday from my dad's friend who is a builder here in San Diego.
__________________
Thanks,

Ed "Mr. Stoked" Brancheau
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Policy