Have you ever thought about building your own dream home? Scratch that, what about building someone else’s dream home? Now we’re talking because now you’re thinking like an investor. You can build a dream luxury home at minimal cost and sell it on to make a massive profit. This is a great investment possibility if you know how to set about doing it. Are you ready to make millions from one house sale? You better be!
Borrow Some Cash
The first thing you need to think about is how much it will cost you build the home of dreams. We would estimate you’re looking at something in between one hundred and two hundred thousand. Don’t worry though because you’re going to sell it on for at least a million. That’s a massive profit of eight hundred thousand and we’re going to show you how to do this. But first, borrowing the money can be tricky. You need to find a loan that is offering a great interest rate that won’t eventually eat you alive. Your best option is probably a portfolio long term loan. It takes a little while to secure the cash, and you’ll have to layout your investment plan. But once you have, you’ll have no trouble at all buying the home. Or rather, the plot of land where you’re going to build.
Finding The Goldmine
The next step is to think about where to build, and we’ve got a perfect idea. Look for an area that is already in active development. New estates such as this have built in value because they are already an attractive place people are flocking to. Right now prices are super low to attract buyers which means you can purchase the land for an absolute steal. But what happens when all the land is bought up? Suddenly a house there is a rare commodity that people are desperate to buy. This sends the market soaring, and that’s how you make the massive level of profit we talked about.
Hiring A Contractor
We’re sure the people in charge of developing the estates have their own, private contractors. You don’t have to use these professionals. Once you own the land, you can hire your own builders and contractors. They’ll be able to work on the budget that you’ve chosen. Due to this, the costs of your new house won’t grow out of control. We imagine the building work will take roughly eight to ten months and now you have a completed dream home. But you’re not done yet.
Hire A Designer
Use the rest of your loan for the fees of a professional designer. Work with them to make the home look stunning, just like a show property. Now, it’s ready for the market, but you don’t sell yet. Wait until the land development is complete and everything is bought up. During this time, you should not be living in the property, as this will help you avoid any wear and tear. When you sell it on, it will look brand new to the buyer, and they will be eager to pay a large amount for it. You’ll probably even get a bidding war between multiple buyers.
Congratulations, you’ve made a fortune off a single home sale. More than enough to pay back that loan and plenty extra if you want to fund another investment without one!