Author Topic: free houses  (Read 1434 times)

Mr Mark

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free houses
« on: March 11, 2014, 11:06:32 AM »
I noticed in our very upscale area of town, the competition for lots to build new has gone through the roof. The old housing stock, built 1930s 1950s, are being torn down and replaced with Mac mansion s.

In these situations, an old house with lots of potential life left can sometimes sell for less than lot value. A good renovation can create almost new square footage at a lot less than a new build. The house will then jump in value as its no longer discounted by the tear down hassle.

we just did this exact thing, and return on investment was awesome. Needs a strong rising market with lots of new building going on. Idealy you bought the place as a foreclosure or discounted just before the boom hits, naturally ;-)