Posted by Copecd on May 14, 2004 at 10:14:24:
Believe me, it isn’t just NY, there are a good number of other places. I live in NOVA and it’s unreal on how much the market has gone up in the past 2-3 years. There are ways to make money in this type of environment and I’m in the middle of finding out how. One technique you can use in a market where the value of property is increasing at a rate that the rental market will not support in a new sale is to flip pre-sale props. Just an idea. If all else fails then look at the surrounding areas where it’s still undervalued or where you might be able to find distressed sellers. If you do figure out a solid way to thrive in this type of market please let me know. Good luck!