I'll try one last time.
If you are going through all the effort of fingind a site, getting plans approved, subdividing, finding a builder, going through the entire building phase etc for the same amount of profit (ie $0) as you would get if you were to simply buy an investment property that is ready to go then you might as well just buy a property on the market.
Why go through all the headache if there is no profit? what is the advantage of taking all that risk?
I dont think you are taking into account possibility of losing money here.
If you are going through all the effort of fingind a site, getting plans approved, subdividing, finding a builder, going through the entire building phase etc for the same amount of profit (ie $0) as you would get if you were to simply buy an investment property that is ready to go then you might as well just buy a property on the market.
Why go through all the headache if there is no profit? what is the advantage of taking all that risk?
I dont think you are taking into account possibility of losing money here.