Re: Slow time of year coming soon? - Posted by Tony-VA/NC
Posted by Tony-VA/NC on October 09, 2003 at 08:30:27:
The end of year trend is tough to predict. One of my first years in Lonnie deals, there was a huge glut of people (rapid refunders) who had cash and were looking for homes in February.
The next year I bought five in Dec/Jan and nothing sold. I held them for several months.
It is a local gamble. I would guess things like local unemployment, the closing of large local companies etc. may be an indication that those tax refunds will not be so abundant or hefty.
Winter time is a nice time to pick up a rehab land/home package. With a home we intend to retail, we know that there will be time involved. Holding time is built in. The interior repairs can be made at a leisurely pace if necessary. Exterior repairs are obviously weather affected but usually they are limited to leaky pipe that we can fix on a warmer day.
A land/home rehab may be just the thing to consider if you are working full time and looking to create a nice long term income stream without having to spend every waking moment working and showing the home.