Quote:
Originally Posted by Hehe
The requirements are one thing... the building cost is just absolutely banana for YVR.
I don't understand how building a SFH home now costs upward of $300/sqft. And this is for houses that are 3000sqft+, anything less than that, the cost per sqft just goes even further. Premium build would be north of $600/sqft
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My friends drafted his own team of EI builders, when we were golfing he said $300/sqft days are gone, closer to 350-400/sqft actual w/ 10-20% contingency for errors.
He makes < 5% on the flip but 10-20% profit on construction margin. One of the few guys I know that has saved > $1M before 30 without inheritance.
Projects are so high cost and risky even for him that he's taking 6 months off to wait for better deals than to try to risk for a break-even build. Clients aren't building either