R.E. BEGINNER - Posted by John

import · August 19, 2003, 2:33pm

Posted by Bill Erwin on August 19, 2003 at 17:10:22:

I have a couple options for you. Please email me.

import · August 19, 2003, 2:33pm

Posted by John on August 19, 2003 at 14:33:00:

I know the people on this forum are ‘creative’ investors, but I’m thinking the best advice for a rookie comes from the creative veterans.

I am considering having a couple of spec. homes built, probably in the $100K sales price area. I’m considering building in north central Florida. I have the cash to cover the deal and I wish to turn the profit quickly.

Generally, how much can I expect to make from a straight build-and-sell deal (what % of cost)? If I owner finance, how do I sell the note? What should I be careful of? I don’t want to tie my money up. I just want to turn it over. I only have a portion of the money available for a year. I’m open to any and all suggestions, even if it’s a completely different approach.

Thanks in advance for your advice,

John

import · August 20, 2003, 2:25pm

Re: R.E. BEGINNER - Posted by eric-fl

Posted by eric-fl on August 20, 2003 at 14:25:11:

spec builds usually yield 10-20%, especially in the lower price ranges such as you are considering. And usually, if you are just starting out, the backup exit strategy in the event of a non-sale is to move into it for a while. Is that something you are prepared to do?

import · August 20, 2003, 8:14am

Re: R.E. BEGINNER - Posted by daniel

Posted by daniel on August 20, 2003 at 08:14:33:

Hey John,
I understand that you are aggressively investigating real estate options for passive income, but I am curious as to whether or not you would be open to another form of passive income.
I have been working with a couple people with a B side business opportunity that has been working out great for us, and you seem like the kind of guy that would be well suited for this type of investment. Dont get me wrong, I love real estate, but diversity is very important…
Business owners diversify with Real estate, and Real estate gurus diversify with Business…
If you are interested, shoot me an email and i will get back to you as soon as possible with some info…
take care, John…
Daniel Lehman