I know a lot of people are up in arms about posting on topics not related to the hobby. So Im not putting up a long post but would any of you be interested in exchanging real estate investment ideas?? I will post what really works well for me in the central Maryland and N. Virginia areas. None of us have to give out any personal/financial info, just ideas that we could all learn from since I noticed there are many business/investment oriented members on this board. If I notice interest on this topic I will post what works around here. Markets here and in the west coast are fertile ground for RE and thought we could all exchange ideas, but if I notice a lot of flame and anger about this not being on topic I promise not continue with the post and leave it at that.
Please don't take any of this as legal advice and I am not a professional RE agent. I don't know the how the markets appreciate on the west coast nor do I know the tax rates. In central MD and N. VA market values tend to appreciate 30-45% within the first year to year and a half after buildout is complete at a new home community. In the right areas a 400-500k home can go up by 150-225k within that first year and a half. Right before ground breaks on the first home at a new community, prices are the cheapest. Purchase the home without too many options then finish the basement, add a deck, and some other goodies through an independent contractor since they are much cheaper specially if you work with the same contractor. By the time all the homes are sold out and people lived there for a year or so the home has already appreciated close to 40% in the right areas. After all costs initially during the purchase and near the end during the sale its still possible to bank 100-150k on a home. Its more complicated than that but thats the concept in a nutshell. Works like a charm around here every time. It works the best if the home is purchased outright or if a hefty sum is used for a down payment. If you have to make any or large mortgage payments during the course of the year, you are just cutting into your own profits. 1, 2, 3 or as many homes as you like, it can work in the right market. Buy it new, let it sit, and sell a year or so later. Not too many headaches either! Best of luck!!
There are several reasons that a lot of the guys here are real estate and investment savvy. The biggest reason is that our "hobby" is not for the faint of wallet. That said, I was lucky enough to be in the right place, at the right time, with a nice chunk of cash in hand. My partners and I were lucky enough to purchase some properties from the RTC back in the early 90's (Remember the S&L bailouts?). Bought 'em for $5000-$15,000/unit. They were just happy to get these loans off the books and these loan portfolios performing again. Now, we're condo-ing these buildings. Current tenants can buy for 75% of market value until 4/30/04. Then, units will be offered to public. Gross profit will be 12-30 times our original cash investment if sold at market value.
The market here is crazy! I work for a company that also has a department that handles foreclosures and defaults. If any one has any questions I would be more than happy to answer them.
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