First Time Doing a New Build Turned a 20% Profit

It can be intimidating to take on something you have never done before but when a fellow investor you trust has already done so it makes it easier. In fact, when he tells you, “Building a new home for investment was one of the easiest things he had ever done,” buying an empty lot and taking on a new build seems all the more enticing.

This is exactly what happened for Tyler Mundy, who has experience flipping houses in North Carolina. But with the current state of the housing market Tyler hasn’t been able to find that next right property to flip. So, he decided to try a new build. He found an empty lot for the right price in a great neighborhood, purchased a home design online and then met with the Slate Building Group team. They provided a market analysis of the property and design to verify that it would be profitable for everyone. Then, they guided Tyler and his partner in a few modifications to the build that would work best for the structure of the lot.

After the contract was signed, Slate Building Group got to work. Unlike with many of Tyler’s previous rehab jobs, there were zero big surprises. The entire process went smoothly and allowed Tyler to focus on his family and his studies as he is currently getting a masters degree.

The whole experience was awesome, with a professional contractor like Slate Building Group you are leveraging their ability, knowledge and hussle. Which took a lot of the stress and burden off of me – unlike previous rehab projects I didn’t have to think about it. I knew everything was being taken care of.

Taking a Chance on an Empty Lot in Mecklenburg County Paid Off for This Investor

When Slate handed Tyler the keys, he was ready to sell a beautiful, inviting home with tons of curb appeal! It was even featured in an article from Axios Charlotte as a “hot home for sale in Charlotte.” After only being on the market for one weekend, they received multiple offers above asking price. The end result was an ROI of 24%!

From the very first meeting, Slate Building Group’s knowledge and professionalism was unlike anything I had experienced before. A new build can be intimidating but when you have an experienced group like Slate who you know you can trust to bear the weight of the nuances of a new build, it’s an easy decision to continue with new construction – it’s more predictable and profitable.

We’re sure Tyler will find a way to spoil his family with some of that profit but as with most experienced real estate investors, he can’t wait to reinvest it. He plans to buy another lot because after this experience he’s convinced that a new build is the way to go!