Is Anyone Doing This?

2 Replies

I read an article a few days ago here & now cannot find it,

A Realtor in Cape Coral, Florida is selling homes pre-construction for zero down, only deposits amounting to about $1500.. when the home is completed in 7 or 8 months it has appreciated up to 28-30% (42% per year in Cape Coral) and a $155k home is now worth around $200k.

No payments are made in the mean time, up to 14 months I think.

Sounds like a nice way to plant seeds, anyone?

If that Realtor reads, please respond, again, I cannot find the article again, & my history is lost when we delete cookies frequently.

Rick

I wouldn't do it. I want to know my profit is there when I buy. I don't buy something then plan on it going up, it can take too long and worse case it won't go up, then your left holding the bag. If I buy a house that has a fmv of $110k for $70k I dont have to worry about what the market will do, or hurracane season, or what Greenspan says etc.

Just my .2

CoolRide

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