Buy Bldg Lots… - Posted by JT-IN
Posted by JT-IN on May 31, 2005 at 11:10:50:
One can never predict what may happen a year, or two out in the time horizon. What makes better sense than getting locked into that time frame with pre-construction deals, which have little flexibility once you are committed, is to own the dirt. Less risk, lower price point, and from what I have surmised as much upside profit potential as an investment with another zero behind it… With a potentially shorter holding period, if that is of interest.
My strategy is that IF/WHEN I detect the mkt deteriating, I will bail out of what I own in that market. With pre-const deals, you have no where to bail until it is completed, and provided with a C/O. Then you face whatever the mkt will bare at that point, good or bad. It is all a crap-shoot at this point, as more and more money chase those properties… so if I am shooting craps, I don’t want to have to do so on a long term contract.
Just the way that I view things…