I earn my living buying, selling, and brokering preconstructions deals. It a hot market this CAN be wonderful. See my post in wholesaleing, "buying pre-constructioncondos".
It can be profitable. The best way to do it i believe is to strike a good deal with the builder. Be one of the first ones in the development. Live there as your primary residence for a couple years then sell when the place is completed. Should make 20-30% if its a nice subdivision.
Buying in Phase 1 is definetely a way to make money if the development is good. What is even BETTER is buying into a development and partnering with the developer before breaking ground. Your returns are much greater. I'm working on getting involved with one right now that will return me 190k on a 50k investment over the next 24 months. You do the math!!!
If anyone is interested I will be willing to share the information with you.
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Under the right circumstances it can be profitable...
what would be a typical amount and timeframe of ROI on properties like this?
I earn my living buying, selling, and brokering preconstructions deals. It a hot market this CAN be wonderful. See my post in wholesaleing, "buying pre-construction condos".
[addsig]
It can be profitable. The best way to do it i believe is to strike a good deal with the builder. Be one of the first ones in the development. Live there as your primary residence for a couple years then sell when the place is completed. Should make 20-30% if its a nice subdivision.
Buying in Phase 1 is definetely a way to make money if the development is good. What is even BETTER is buying into a development and partnering with the developer before breaking ground. Your returns are much greater. I'm working on getting involved with one right now that will return me 190k on a 50k investment over the next 24 months. You do the math!!!
If anyone is interested I will be willing to share the information with you.
Vince[ Edited by NC_Yank on Date 10/02/2003 ]