Re: Take a Walk in My Shoes
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It depends on where you live. You can still make $$ through these pre-construction homes. In my area you can still buy one of these homes at below market value and turn around and sell. If the price goes down before I move in, I just abandon my very small deposit. Risk vs Reward. I will risk 2k anyday to move into a house that has 85k equity built in before I move in. I have done it before and am currently doing it. It helps to have a RE license so you save money on the commission when you turn around and sell.
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This worked in Vegas until a year ago. This worked in Phoenix until about ten seconds ago. Sunday paper had nice story on how builders have started to beg realtors for buyers, whereas previously they put the screws to realtors commissions since they had all the buyers they needed. I'm guessing flipping is no longer profitable here...
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