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???

[neo914-6]

QUOTE (Carl @ May 12 2005, 06:45 PM)

It looks like a simple way for a developer to finance his project while someone else takes the risk on the land and the developer doesn't have to comply with loan covenants of a regulated financing company, i.e., a bank. I'd sure be careful of the financial strength of the developer and know for certain what was going to be built on the lot and the surrounding property. Also, Mike, with the problems you've had with your Louisiana investment, why are you thinking of Florida? There is huge value in investing locally so you can watch what's going on.

(IMG:http://www.914world.com/bbs2/html/emoticons/agree.gif) with Carl, there are closer opportunities avoiding travelling so far if something needs attention. Central Valley has some developments according to my Realtor friends. His home isn't even built yet and values have risen. Rise enough and they may even sell instead of moving in. I've heard AZ areas will be the next boom like Las Vegas. My parents and a friend of mine made out nicely from their Las Vegas homes. Wish I listened to them AND got the money to invest... (IMG:http://www.914world.com/bbs2/html/emoticons/wacko.gif)