Quote:
Originally Posted by ken0042
I think what he is saying is put down the deposit on the $600K house now, wait for it to be built, then when its ready sell his current house for $700K in the spring of 2008.
As long as the market continues to go up, he will be OK.
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Yeah, it really depends on the builder. I know that several of the larger builders are requiring money at 25%, 50%, 75%. The other thing that really worried me is that you are looking at a solid year before you get possession. The rent alone would eat up most of your profit.
I am just looking at this from a strictly money making point of view.