Can You Make Money With New Construction Homes?

🔥 NEW CONSTRUCTION INVESTING 2025 — FIELD GUIDE INSIDE A STORY

This episode of The Property Code is your end-to-end playbook for investing in new construction rentals. We follow Renee, a Tampa respiratory therapist, as she tests builder incentives, runs the math, and lands a tenant fast — with fewer maintenance surprises and warranty coverage. #NewConstruction #RealEstateInvesting #FloridaRealEstate #RentalProperty #PropertyManagement

What You’ll Learn
• All-in basis vs. realistic rent — how to underwrite a new build like a pro
• Builder incentives (rate buydowns, credits) ≠ profit — they must fit the model
• Spec home vs construction-to-perm: speed, risk, contingencies, rate locks/float-downs
• Market map 2025: Florida, Upper Midwest, Sunbelt suburbs — and where new builds work best
• Inspections, warranties (1/2/10), durable finishes, smart devices that actually reduce OpEx
• Leasing playbook: pricing, checklist, PM handoff — faster time-to-tenant

Key Details from the Case
• All-in basis around $390K on a 3-bed (price + lot + options)
• Lease comps near $2,700/mo (tenant-paid utilities)
• With a temporary buydown → slight cash flow; post-buydown ≈ break-even unless rents rise ~3–4%
• Third-party stage inspections fix issues pre-closing; warranties cover early defects
• Refi to a “green” product after HVAC upgrades → funds the next door

Action Step: use today’s taxes/insurance, order third-party inspections, budget a real reserve, and pick markets with jobs + predictable permitting — let time and amortization do the quiet work.

Timecodes:
00:00 Why new builds (2025 demand & search trends)
00:28 Meet Renee + incentives overview
01:25 All-in basis & upgrades math
01:56 Rent comps & expense stack
02:35 Cash flow with buydown; post-buydown reality
03:40 Spec vs construction-to-perm (pros/cons)
04:10 Rate locks, float-downs, delays
04:43 2025 market map (FL, Upper Midwest, Sunbelt)
05:14 Stage inspections + 1/2/10 warranties
06:14 Smart devices & durable finishes (OpEx wins)
06:44 Leasing playbook & tenant profile
07:46 Building yourself? Soft costs & contingencies
08:18 Taxes, cost seg, exit; green refi
09:18 Copy-this framework & results
10:22 Final takeaways & next steps

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