Updated about 10 years ago on . Most recent reply
What Does New Development Mean for Flippers
Recently a developer began marketing 10 homes in a 70 lot subdivision. The homes range in price from $200k - $300k. The subdivision is located inside my farm market and within a mile of my initial house flip ($275k ARV) I expect to close on this month. How do you see the new development affecting my target area and the buyer market once I finish rehab, hopefully this February?
Also, this subdivision is across the main highway from a friend who lives on a 21 acre property adjacent to a subdivision he developed, himself. He has sold 12 of the 17 lots with the value of the houses ranging from $400k - $700k. My friend is 81 and progressing toward retirement. I am considering moving into the developer space if the undeveloped lots have value. How do you think the new subdivision would impact the prospects for finishing that development?
The community is suburban Atlanta and has many quality neighborhoods and is anchored by a great school district.