OT:Pre-Construction Home "Investment" Program, sounds too good to be true in FL Options

[Mueller]

A family friend has brought this to our attention...basicly it sounds like you buy a lot, the realtor finds a builder, house gets built, you sell the house and make $$$$

Investment Homes in Florida

Upon doing some searches, it seems this is only done in Florida???

[914rrr]

Kinda like a "hot" stock tip. By the time most people hear about it, it's already peaked and on the way down. I've been buying, rehabbing and selling single family homes for about 5 years and I'm still bullish on Florida real estate in general and people have made some really nice pre-construction profits, but mostly on waterfront condos. I do see the "specualtive" pre-construction market getting overheated. There are already new condo buildings in Tampa where 40% of the units are empty and the owners are speculators. It only takes a couple of investors "dumping" their units cheap to screw up the comps for the whole development.