Posted by IB (NJ) on April 22, 2003 at 13:42:48:
Talk to the local zoning department. They will tell you the minimum and average size lot, new houses can be and are being built on. Perhaps you can also view the latest building permits that were issued.
Builders will also tell you which size lots they are looking for and in what areas.
One more person you can talk to would be a realtor who works with builders (in terms of selling newly constructed houses).
Flipping homes in pre-construction stage? - Posted by Mike
Posted by Mike on April 21, 2003 at 13:53:13:
I’m looking for advice on getting involved with buying and selling homes in the pre-construction process. I intend to reserve homes with a downpayment and essentially flip the homes once they are done being built. I am looking at the southern Florida market new construction residential market which continues to boom. What are the pitfalls I should be on the look out for? I was thinking of focusing on homes being built for the senior citizen market. All advice welcome.
Thanks,
Mike
A2M? - Posted by pud
Posted by pud on April 22, 2003 at 17:15:22:
Your flipstock is hasbro, nutcocker.
CIGAW?
Re: Flipping homes in pre-construction stage? - Posted by Justin
Posted by Justin on April 21, 2003 at 15:59:17:
I’m interested as well. I have a similar situation unfolding and might be able to use a creative solution to help out family. Here’s my story: my wifes retired parents currently have about 40,000 into building a new condo in a new sub. They are starting to get to a point where they’re not sure if they should go through with it since they’re on a fixed income and this new condo is probably out of their price range (they bought it on emotion). They don’t want to lose their 40,000. I told them they should start advertising now to sell it. What type of spin could we put on the ad to help prevent a potential buyer from just going next door to the builder and getting a similar condo at the builders sale price? I’m just looking to at least get their money back out at some point. I’m trying to get into real estate investing and have been reading everything on this site. Also just order carleton sheets new course off of ebay, but it hasn’t arrived yet. I’m geared up!
Sounds like an interesting idea. - Posted by IB (NJ)
Posted by IB (NJ) on April 21, 2003 at 15:18:13:
I would think that like other types of RE flipping, cooperation of the seller (the builder in most cases?) is crucial. Have you factored this into your equation?
By the way, I’m following new construction trends in my market (urban area). Many new multi-families are being built on 25x100 and 35x100 lots (in the northeast, from what I understand, we build ‘up’ as opposed to building ‘out’ like they do in the southern areas). What are the average size lots being built on in southern FL?
market changes… - Posted by David Krulac
Posted by David Krulac on April 21, 2003 at 14:46:46:
are your biggest risk,
like high interest rates, high gasoline rates, another terrorist event, prices depreciating, building materials price changes, legislative changes,
employment changes, etc.
Ron Starr, would you help with this? - Posted by rocky
Posted by rocky on April 21, 2003 at 14:01:49:
Mike, what a great question. I am actually waiting with great anticipation for an answer as well. Ron, could you point us in the right direction?
Thank you and good investing,
Rocky
Re: Sounds like an interesting idea. - Posted by IB (NJ)
Posted by IB (NJ) on April 22, 2003 at 11:06:25:
Talk to the local zoning department. They will tell you the minimum and average size lot, new houses can be and are being built on. Perhaps you can also view the latest building permits that were issued.
Builders will also tell you which size lots they are looking for and in what areas.
One more person you can talk to would be a realtor who works with builders (in terms of selling newly constructed houses).
How do you follow these trends? NT - Posted by hg-nyc
Posted by hg-nyc on April 21, 2003 at 22:21:20:
NT