Anybody actually from Galvestion or surrounding areas? I am wondering what the area is like. Is there much tourism that takes place? Is this area hit often by tornados? There is a codo complex that is going up in Galveston called Palisade Palms. I am wondering what you think about its location. They are charging an arm and a leg for the rooms, but I am wondering if I can flip it for maybe two arms and two legs latter.
I like pre-construction deals. I have to buy a lot of properties, but I can flip new homes to other investors with 20% equity in them, get with LO for their turn-downs and do seller seconds, or sell them outright and keep all the profit.
I put down 1k on a pre con in SE phoemix metro area and just closed yesterday .I appreciated 30 to 40 in 7 months will hold for another 6 months to a year amd maybemake 100K..unfortunate these deals are not available any longer for investors.
If anyone knows of other 1 to 5 k deposits witha 6 month build time etc let me know.
I do know a pre con Kingman AZ for 3K deposi will complete build in Aug and would net about 20 to 30 K.If anyone wants to finance in Aug a split profits..I would split the 3K
I live in Utah too, and I have been having a hard time finding out if people are actually making money here. I believe they are. I have heard of people makine $60k in equity after a phase I has been completed and they are moving on to the next phase. I would like to get more involved in pre-construction but I have had a hard time trying to establish myself and find out what is going on.
sounds like you both are discussing pre-construction.
Put 5K down property appreciates
assign purchase agreement for profit
Builder/developers are getting smart on this and many are putting prohibition on assignment clauses, and that you must own the house for 12, unless you move for a job change.
I have not investigated how enforcable such a clause is.
Anybody actually from Galvestion or surrounding areas? I am wondering what the area is like. Is there much tourism that takes place? Is this area hit often by tornados? There is a codo complex that is going up in Galveston called Palisade Palms. I am wondering what you think about its location. They are charging an arm and a leg for the rooms, but I am wondering if I can flip it for maybe two arms and two legs latter.
Thanks for your opinions and input,
Love the name...
I know investors that have had luck with doing simultaneous closings with end buyers. Most pre-construction do not allow assignments.
[addsig]
thanks for the note...I appreciate your response...
Louis
I like pre-construction deals. I have to buy a lot of properties, but I can flip new homes to other investors with 20% equity in them, get with LO for their turn-downs and do seller seconds, or sell them outright and keep all the profit.
I put down 1k on a pre con in SE phoemix metro area and just closed yesterday .I appreciated 30 to 40 in 7 months will hold for another 6 months to a year amd maybemake 100K..unfortunate these deals are not available any longer for investors.
If anyone knows of other 1 to 5 k deposits witha 6 month build time etc let me know.
I do know a pre con Kingman AZ for 3K deposi will complete build in Aug and would net about 20 to 30 K.If anyone wants to finance in Aug a split profits..I would split the 3K
Hey Murphy can you give some more details regarding the condo in Kingman, AZ. I may be interested
I live in Utah too, and I have been having a hard time finding out if people are actually making money here. I believe they are. I have heard of people makine $60k in equity after a phase I has been completed and they are moving on to the next phase. I would like to get more involved in pre-construction but I have had a hard time trying to establish myself and find out what is going on.
Mike
sounds like you both are discussing pre-construction.
Put 5K down
property appreciates
assign purchase agreement for profit
Builder/developers are getting smart on this and many are putting prohibition on assignment clauses, and that you must own the house for 12, unless you move for a job change.
I have not investigated how enforcable such a clause is.