Veteran Flippers Please Help!!!
I have yet to get the nerve to do my first deal but the profit potential of this deal I stumbled on today is making my head ****Must Reach Freshman Investor status before posting URL's***his guy is building a 3 million plus mansion on an average $775,000 lake lot on a high profile lake in my county. He split his lot in two (mansion being built on one, vacant tear down home on the other)The other is the one I am interested ****Must Reach Freshman Investor status before posting URL's***he builder says the guy has the vacant house and lot "on the market" for 1.3million. Again the lots average 175,000.Where do I start?Hope this is clear.Please help. <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by dave777 on Date 12/10/2003 ]
Most people do not have the funds to start out with that high of priced homes. If I remember right the recent survey said that people look for $100-$150k homes more often. If you are starting out, I would suggest a lower price market if possible.
If you feel you can make money there, by all means go for it!!! Follow your dreams. Good Luck!
So he wants $1.3 million for a lot worth $775k. That is all you have if the home has to be torn down. Where is the deal? It's a great deal for the seller.
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