Does anyone here have any experience with this type of business?
We acquired a foreclosed residential lot in a very good location (peaceful neighborhood, walking distance to school and church, just along concrete barangay road, just 500 meters from national highway) and we're planning to subdivide it 4 lots and plan on building low-cost houses on each. We got the property for cheap --93,000 for a very spacious 570sqm, kay foreclosed man lagi. So on to my question . . .
Is a budget of 150,000-200,000 enough to build a simple 40-50sqm-concrete block house (including na ang cost of subdividing the lot, fencing, land filling, tiles, septic tank, eletrical, etc)?
We're planning to sell the house for 400,000, and expect a at least 100,000 profit. Marketing isn't a problem as we already have prospects and I'm a real estate broker myself.
Anyone here who has experience in construction, particularly low-cost, socialized housing? Your inputs would be greatly appreciated!