No doubt about it C. cash is king.
I am staying away from ground up projects, my goal
is to do cash only deals on bank owned manufactured
housing. Main concern on those is not too old and
make sure no water leaks. I can talk to the lender
to see what items have to be addressed for them
to approve a loan for a buyer on one of them, can talk to the
county inspector as well. Cash only gets a much
better price and fast.
Good and much better to start like you are. I have done a lot of buy fix and turn the same goes for those about what I said. Know your stuff! Always think first what my downside is and in this biz too then think about the profit. You sound like your on the right path. I retired from that end (building of any kind other than my own) execpt for 4 blocks of waterfront/ocean access land I bought that is as of just 2 months ago approved for an int'l airport 6 mins away on a beautiful biodiversity area near the center of town. The locals did not believe it was coming I had buds from all my contacts it was and went for it. Already up ridiculous since the news. Now land you really better know your stuff. Do not touch that until 20 years in the biz!
Edited by zoropb, 09 September 2013 - 07:55 AM.