Preconstruction Condo investment - Saab General Bulletin Board - Saabnet.com
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Preconstruction Condo investment
Posted by NickR (more from NickR) on Mon, 1 May 2006 13:24:36
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I was curious, I was talking to some friends and they have been investing in preconstruction condos, i.e. while they are still on the drawing board, for a fraction of the sales price. Once the units are built, they sell the property, oftentimes even before they have aquired a mortgage. A specific example is in South Carolina, this particular person made $45000 without ever even needing a mortgage. After commisssions, etc., it was probably less, but still.
I was wondering if anyone had any experience with preconstruction sales or has made any money on it. I realize it is risky, but the last investment I made (3-family in MA) isn't panning out the way I had initially planned.
posted by 63.116.22...
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