Posted by TonyP on May 09, 2006 at 22:06:58:
Thanks for the input. I will definitely look into this deeper.
Pre-construction investing - Posted by TonyP
Posted by TonyP on May 09, 2006 at 12:42:40:
I recently attended one of the Learning Annex shows and they had several vendors that talk about pre-construction investing. I don’t own any properties, but I am not a total noob to the concept of real estate investing. I saw investments only required a down payment of $350 to $5990. Do people really make money off of pre-construction investing? I never heard of it prior to going to the Learning Annex. What I am a little hestitant about is that none of these investments are available in my state. They seem to be only available in places like South Carolina, North Carolina, and Florida. Also, I am curious how well will this work since interest rates are on the rise.
Re: Pre-construction investing - Posted by David B
Posted by David B on May 09, 2006 at 21:38:16:
Hi Tony,
I posted a message below yours earlier about investing in a
preconstruction condo in New Jersey. I’ve been very successful over the
last 7 years investing in preconstruction townhomes in the Princeton
area. The key is the location…I knew this area was very desirable and
builders were putting up brand new townhomes that I knew would be
very popular for single people, families, couples with 1 kid, etc. It’s
very flexible and no upkeep. So I think it can be great but I wouldn’t
invest unless I knew the area REALLY well and could see it was a
growth area. I’m concerned right now about the affect of the interest
rates, too, at least in regards to this type of investing. Good luck. David