Quote:
Originally Posted by island911
What happened to the Airstream?
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Still have it, that is one piece of my housing puzzle but not really being used. Still, I call it my, "hedge against homelessness."
I did a lot of work on it over the summer and will update that thread one of these days. Might have scored another trailer as well, just need to collect it from the great north. I'm considering building a spec house or two in Minneapolis w a partner, it's a pretty hot market but I'm still not seeing the profit @ $200+ a sq. foot. That's $800k in construction costs for a 4k sq.ft. house plus maybe $300+ for the lot in the area you'd want to build in. The house I'm envisioning would sell for around $1M, give or take $100k. Doesn't add up.
I know a couple young guys in LA who have been rehabbing/flipping and now mostly building spec houses since the downturn in '08, they've gotten good and have made a lot of $$. They're not bottom feeders, they put together really nice houses. What they sell for makes no sense but that's LA RE these days.
I'm trying to figure out if it's do-able in Mpls, a much nicer and saner market but still very hot right now.
