Brand New Developments
I was wondering was investors out there thought of investing newly built properties in the beginning phases of residential development projects.
I was wondering was investors out there thought of investing newly built properties in the beginning phases of residential development projects.
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 ]