"ALMOST" New Homes - Potential? - Posted by Carmen


#1

Posted by Bud Branstetter on January 14, 1999 at 24:36:58:

This can be fertile ground for L/O. Get in lite. Sellers have even been known to kick in on the payment to save their credit. A little more time and the price will likely go up a few thousand. Can any FSBO or rental in the area. Blanket with flyers or postcards.


#2

“ALMOST” New Homes - Potential? - Posted by Carmen

Posted by Carmen on January 13, 1999 at 22:22:57:

I bought a brand new home last year in a brand new community. In the past year, I’ve noticed several homes going up for sale - and staying for sale (the builder offered easy terms with balloons, and low downs; some probably couldn’t afford to stay in once they got it; others must have had their own reasons to move). This is a good neighborhood, gated, pools, lakes, clubhouse, close to schools, shopping, etc. across the street from a much more upscale (read expensive) neighborhood.

Looking at these with “new” investor eyes, my question is, is there anything worthwhile that an investor could do with these homes? Average cost of a home a year ago was $130,000. Hasn’t gone up much yet, but surrounded by more expensive homes and new communities going up all around. Rents for these types of homes would be at about $1,300-$1,500/month (3 bedrooms).

Just fishing - any ideas?


#3

Re: “ALMOST” New Homes - Potential? - Posted by marla (SC CA)

Posted by marla (SC CA) on January 14, 1999 at 17:26:54:

Jim Mullins shared a great “Success Story” that will probably interest you …

http://www.creonline.com/ss-71.htm

Marla


#4

Re: Search CRE Archives - Posted by Jim Simons

Posted by Jim Simons on January 14, 1999 at 15:09:46:

Somewhere here on CRE I’ve read a good article about doing L/O’s with new home builders. It might be worth your time to search the archives for the article.