08/20/2024 - From Flips to Foundations: Mastering New Construction for Big Gains

On the Project & Property Management Call, Hamed and Hossein Tavakoli share their journey from house flipping to new construction, highlighting benefits like greater design control, quality, energy efficiency, and the ability to pre-sell homes. They discuss their resource management strategies, including budgeting, contractor hiring, and material sourcing, and emphasize the importance of project planning, scheduling, and building relationships with local officials. Their land acquisition strategy targets lots priced at 10-15% of the sale price, ideally in HOA communities near major cities. A recent project showcased their 90-day construction timeline, cost metrics, and a 23% profit margin, underscoring the importance of local market knowledge, a reliable contractor network, and strong relationships with authorities. Specific topics are discussed as well, such as:

· How did Hamed and Hossein Tavakoli manage the transition from house flipping to new construction?
· How do they maintain control over the design and quality of their new construction projects?
· How do they approach budgeting and resource management for new construction?
· How do they ensure timely completion of their projects within the 90-day construction timeline?
· How do they build and maintain relationships with local officials to streamline their projects?
· What are the key benefits they have experienced by shifting to new construction?
· What is their strategy for acquiring land at 10-15% of the sale price?
· What challenges do they face in hiring contractors and sourcing materials?
· What role does pre-construction marketing play in their overall strategy?
· What are the main factors contributing to their success in achieving a 23% profit margin?