Pre-Construction Profit$
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The mass majority of my initial profits were generated in pre-construction housing.
Here's how you can learn to buy a lot, build a home, never make a mortgage payment, and if it's in the right area make between $25K to over $100,000.00 per deal!
As I sit here on this beautiful day in Colorado, I can tell you that I've just re-read a New York Times article called Speculators Seeing Gold in a Boom in the Prices for Homes.
In the article, a long-time married couple tells how they bought two pre-construction condos, and two pre-construction homes in the past year, and flipped all four properties without ever even making a mortgage payment! Isn't that incredible!
That happened because almost anyone can resell a property under construction, and then close on it with their Buyer once the property receives a Certificate of Occupancy from the city. The husband goes on to say that "It is much better than the stock market…this is an extraordinary, phenomenally good result." I'd say.
Pre-construction profits come from you building residences that you don't intend to live in, and selling before it's ready to move into. It's almost that simple. I say 'almost' because there are a few other elements to consider here – be sure you find a real estate market that is White Hot.
There are always one of these across in any country….New Jersey, Portland, parts of Florida, and West Virginia come to mind in the States. So does Vancouver, Montreal, and the Greater Toronto area in Canada. Even Calgary and Fort McMurray in Alberta can provide for some excellent returns.
The Secret to Your Success?
Application of Specialized Knowledge is Power. EmPower yourself and learn how to discover the upcoming, and analyze current white hot markets. It's also important that you select a Power Team in those markets to Work For You, and Make MONEY for you, even if you don't live in that country.
Cheers,
Brad Wozny
Originally Posted: Apr 21, 2007 at 9:51 AM Last Updated: Apr 21, 2007 at 9:51 AM
-- Current Rating: 3.67 of 5 Click here for a printable version.
» [- May 1, 2007 at 8:42 AM -] Susan E. Taylorsays: Good food for thought. One of my investor friends just bought a pricey condo ($7000,000+) in Seattle that will probably be sold for over $1 million by the time it's built. Unfortunately, I didn't have the $35,000 down pay- ment required, or I would have done the same thing.
