Posted by Tom(MI) on September 28, 2005 at 22:28:06:
That is not a lot of equity if the house is worth 250,000 to 400,000.
Was there a questions?
ADVERTISEMENT! - PLEASE DELETE THIS! - Posted by Cre Cop
Posted by Cre Cop on September 30, 2005 at 15:00:43:
nt
That is selfish and STUPID on your part Snitch! - Posted by 333
Posted by 333 on October 01, 2005 at 11:37:50:
That is selfish and STUPID on your part Snitch!
Re: Precostruction Spec building - Posted by steve
Posted by steve on November 17, 2006 at 09:00:41:
The equity we deliver is always equal to at least 20% or more, discounted off the appraised value. If the home appreciates during the 8 months it takes us to build, that is simply more equity for our clients. We only build in resort communites and I have a full explaination of our preconstruction program & current projects for you to look at if you’ll provide me an email address to send it to.
Thanks…Steve (steve@jumpstartsos.com)
www.jumpstartsos.com
Re: Precostruction Spec building - Posted by steve
Posted by steve on September 29, 2005 at 06:15:38:
I like the idea of exchanging $2000 out of pocket for an average of $25-40k in equity. What would be wrong with that?
Re: Precostruction Spec building - Posted by steve
Posted by steve on November 17, 2006 at 09:02:38:
The equity we deliver is always equal to at least 20% or more, discounted off the appraised value. If the home appreciates during the 8 months it takes us to build, that is simply more equity for our clients. We only build in resort communites and I have a full explaination of our preconstruction program & current projects for you to look at if you’ll provide me an email address to send it to.
Thanks…Steve (steve@jumpstartsos.com)
www.JumpStartSOS.com
Re: Precostruction Spec building - Posted by Tom(MI)
Posted by Tom(MI) on September 29, 2005 at 12:46:01:
Jonathan was correct in what I was saying. You have to start thinking percentages. I can purchase properties all day long that have 10% in equity and it will only cost me around $10 not $2000 to get into them.
Re: Precostruction Spec building - Posted by Jonathan Rexford
Posted by Jonathan Rexford on September 29, 2005 at 09:08:45:
Steve,
I have a few of these going right now with several builders around the state of Florida. I like the idea of leverage also. 25-40K in equity is great based on that type of leverage. But when you look at the overall picture of buying the property and then selling it the “COST OF SALE” is high. Now if you can do an assignment of contract at closing or do a double close your “COST OF SALE” would not be high. But it is still an expense.
What Tom was saying that based on the resale price of a property on a 400K home is only 10%. “COST OF SALE” can and will eat that up.
Re: Precostruction Spec building - Posted by steve
Posted by steve on November 17, 2006 at 09:03:22:
The equity we deliver is always equal to at least 20% or more, discounted off the appraised value. If the home appreciates during the 8 months it takes us to build, that is simply more equity for our clients. We only build in resort communites and I have a full explaination of our preconstruction program & current projects for you to look at if you’ll provide me an email address to send it to.
Thanks…Steve (steve@jumpstartsos.com)
www.JumpStartSOS.com
Re: Precostruction Spec building - Posted by steve
Posted by steve on September 29, 2005 at 10:27:26:
How does it make sense then for you to do it.
And would you mind sharing what other builder will build investment spec homes for little to no money out of pocket?
Re: Precostruction Spec building - Posted by Jonathan Rexford
Posted by Jonathan Rexford on September 29, 2005 at 10:39:01:
For me paying retail prices now for a home. The 4 homes that I have going with one builder I locked in the prices over a year ago. So it has gone up quite a bit.
The 2 that I have going with the other has not gone up that much. But I have a Very defined exit plan.
To me its like playing the stock market with these types of (investments) if you want to call it that.
I will not share the builders information. I did that once before and it came back to bite me. I work hard building relationships. Do not take it personally but I do not know you.