Down Payment On A House Before Its Built And Sell Right After?
my real estate agent in las vegas tells me that this can be lucritive. as i understand it takes about 12k down to get into a $280,000 house, once its fully built sell it without financing. can anyone enlighten me on this concept? thanks
Pulte Homes Cutting New Home Prices
Associated Press 10.05.2004, 06:43 PM
http://www.forbes.com/home/feeds/ap/2004/10/05/ap1577328.html
There is a conversation going on now in the Commercial Forum (Building & Developing) re: pre-construction investing. Be careful, especially since you are out of state.
Good Luck!
There are several ways to profit with preconstructions. A friend of mine paid $3000 down on a house. Within 6 months the cost of that model had grown by over 30%. She was approached by some guy who wanted to buy her option for $17000 so she sold it to him.
Or you could wait till the house is built and then sell it.
However, know the area well, know what marke is like there - growing, stagnant, falling?