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01-06-2009, 02:42 PM #1
Renter
- Join Date
- Jan 2009
- Posts
- 6
Purchase lot and build?
Has anyone been successful in purchasing a lot and building a home and making a profit? I have found some bargain lots and I could build a home but from the prices I have seen lately in the same area, I could buy a home 2-3 years old already built for about the same money even if I was given the lot for free.
1200 sqft home - Free lot + 100,000 to build = $100,000
1200 sqft home built in 2003 - $99,000
What's the key to making a profit here? Finding an inexpensive builder? Should I just avoid this type of investment? Hold on to the lot and sell lot later?
Thanks for your advice!
Matt
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01-14-2009, 05:16 AM #2
Fixer Upper
- Join Date
- Jan 2009
- Location
- Dubai, UAE
- Posts
- 22
Hold on for sometime and than do business.
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