Profiting On Flipping Cheap Condos!!!
If you had to do it all over, As a rookie with excellent credit / no equity left in my home / 40.000 in cash (not wanting to buy & rent, or be involved with foreclosure hassles) Is there a better way to create wealth in real estate than flipping "buy owner" condos to start?
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Sure great way, but wait a minute. If the builder is willing to discount to you for an advance payment at this time. Is not this an indication that he is running a little short or that he wishes to pick up cash now cause maybe by the time of completion there will be another sucessor builder or developer on site and you will be standing wihisling Dixie. Who knows only you and you do a little due diligence, check tract record etc.
From what you tell me sounds to me that you are a natural to observe the paths of growth and insert yourself into a land buy that lies along the route of future increases in density of people or buildings. A simple game and you do not have to move at lightening speed.
Cheers Lucius