Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Classifieds
Media
New media
New comments
Search media
Log in
Register
What's New?
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More Options
Advertise with us
Contact Us
Close Menu
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Forums
The Water Cooler
General Discussion
The Beginning of the End
Search titles only
By:
Reply to Thread
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="jakeman" data-source="post: 3591173" data-attributes="member: 10690"><p>They've actually been doing this for years, and it's quite profitable. </p><p></p><p>I think I've told this story here previously, but I know an independent builder that builds between 75-100 houses a year. He get's a flat fee for each house, and does pretty well for himself. He works for three different "investment groups". One is based out of the Silicone Valley, one in NYC and one in Chicago. They don't develop any neighborhoods, like RC, Ideal or Horton. They buy lots by the dozens in new neighborhoods, build pretty nice 3 & 4 bedroom homes with the intent to lease to mostly young people/couples with nice jobs, but no money for a dwn pmt and no credit history. They hold them for a few years (before the first maintenance cycles) and then they sell them. They use local real estate and property managers to manage, maintain and sell them. They don't hold on to or buy older homes. Just new. </p><p></p><p>He's been doing this for a dozen years or more. Mostly in Edmond, Yukon and Mustang. He says they are getting filthy rich off of the deal, which they were already, but you get the idea.</p></blockquote><p></p>
[QUOTE="jakeman, post: 3591173, member: 10690"] They've actually been doing this for years, and it's quite profitable. I think I've told this story here previously, but I know an independent builder that builds between 75-100 houses a year. He get's a flat fee for each house, and does pretty well for himself. He works for three different "investment groups". One is based out of the Silicone Valley, one in NYC and one in Chicago. They don't develop any neighborhoods, like RC, Ideal or Horton. They buy lots by the dozens in new neighborhoods, build pretty nice 3 & 4 bedroom homes with the intent to lease to mostly young people/couples with nice jobs, but no money for a dwn pmt and no credit history. They hold them for a few years (before the first maintenance cycles) and then they sell them. They use local real estate and property managers to manage, maintain and sell them. They don't hold on to or buy older homes. Just new. He's been doing this for a dozen years or more. Mostly in Edmond, Yukon and Mustang. He says they are getting filthy rich off of the deal, which they were already, but you get the idea. [/QUOTE]
Insert Quotes…
Verification
Post Reply
Forums
The Water Cooler
General Discussion
The Beginning of the End
Search titles only
By:
Top
Bottom