Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Learn about some real life projects I have put together to help a buyer and builder develop a great home with tremendous upside value in the LBI real estate market. Such opportunities exist everyday in the real estate market on Long Beach Island and I can help you find them!
Building a new home in the LBI real estate market can have significant upside potential. Below are some examples of vacant land or tear downs that were purchased and new homes built in their place. The profit potential in the market is more than evident!
Land Purchase: $540,000
Estimated Build Cost: $400,000
Estimated Closing Costs: $75,000
Estimated Carry Costs: $10,000
Total Investment/Costs: $1,025,000
Estimated Gross Pre-Tax Profit: $250,000
Land Purchase: $685,000
Estimated Build Cost: $425,000
Estimated Closing Costs: $100,000
Estimated Carry Costs: $12,000
Total Investment/Costs: $1,247,000
Estimated Gross Pre-Tax Profit: $320,500
Land Purchase: $650,000
Estimated Build Cost: $500,000
Estimated Closing Costs: $100,000
Estimated Carry Costs: $12,000
Total Investment/Costs: $1,262,000
Estimated Gross Pre-Tax Profit: $345,000
Land Purchase: $1,550,000
Estimated Build Cost: $1,100,000
Estimated Closing Costs: $275,000
Estimated Carry Costs: $30,000
Total Investment/Costs: $2,955,000
Estimated Gross Pre-Tax Profit: $1,595,000
