Question On Preconstruction Flipping
I am a new RE investor and need some advice.
I have 2 non-binding $5000. reservation deposits with a realtor for 2 oceanfront preconstruction condos.
Once the condos are near completion, what is the best and most profitable way to flip the condo units? Would it be best to flip one unit and hold onto the other to rent? Should I use the realtor (he is in the area where the condo is being built, I live 4 hours away) or should I try to sell it on my own?
Also - does anyone know what kind of expenses are involved (this is my first RE investment) for flipping this type of property?
Thanks![ Edited by lvcorrigan on Date 06/20/2004 ]
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