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Discussion Starter · #1 ·
I'm looking for an investment property. Something around the Ft Lauderdale area. Yeah I know the market is crazy right now but does anybody have any leads on any preconstruction projects going on. It seems once they hit the websites it's too late. I'm talking ground floor 1+ years out to put a mortgage on. Thanks.
 

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Rear Entry aint just for **** anymore
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I just checked out a place today thats under construction...lots of units, over on SW 29th ave, just North of Griffin Road...Dania Beach/Hollywood address. (Just south of Wheelie Road) I didn't stop in, just drove by but they looked nice. Israel and I were both interested in stopping and we will tomorrow. Once there, I will post up what the deal is....
 

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Discussion Starter · #4 ·
Well as for as price I'd like to stay around 200K but I know that is not realist anymore. Lets say under 300K.
 

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I give girls cancer.
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Be careful!

The market is not hot. :shake

It has been for so long that people have gotten used to saying it. However, talk to people in real estate (especially mortgages) right now. Things have come to a screeching halt and have cooled dramatically. Houses are no longer selling within days and many are sitting on the market right now because buyers are having more and more to chose from.

I would also be very hesitant about buying pre-construction right now if you are talking about condos. A VERY large portion of condo aquisitions over the last few years were 2nd or 3rd or 4th homes. Why? Speculation! "Everybody" is getting rich in real estate right? :rolleyes

As many of these condos raise their association fees, interest rates continue to rise (ARM's) and interest only notes come due it is becoming tougher and tougher for Joe Schmoe real estate investor to cover his nut on the 2 or 3 or 4 condos he bought. The result is already starting to cause more condos than buyers. It WILL get worse from here. Quote me on that.

I am not saying there is not money to be made in real estate. There is. LOTS of it, especially in South Florida. But you have to know what you are doing. We are no longer in the "buy a house for $250k today and sell it for $270k next week" market.
 

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Thanks for having us all these years, Rez. Best o
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aquapython600 said:
+1
and good luck finding something worthwhile for 300
Indeed. We're trapped in our house; we'll never be able to afford to buy another place down here. If we sell, we're moving out of the state.
 

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I give girls cancer.
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That site is awesome.

Now I know all about (the homes of) the super rich people that live behind me.
 

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I give girls cancer.
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Yep.

I knew the places behind me were expensive but didn't know how much.

The one that popped up was $11.8 mil! :eek
 

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Thanks for having us all these years, Rez. Best o
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The houses behind our property all have ~1-2 acre lots but are older houses....valued at $400-800K. And some developer is buying them all to build condos in the future. :(
 

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I give girls cancer.
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Yep it's sad.

I hope those people don't sell.

I hate to see it. Being a native Floridian, it churns my stomach. I can see it along the coast. Even inland a bit. What Really makes me ill is seeing rural places (think Yeehaw Junction) and open tracts of land gobbled up by these large conglomerates and turned into tract housing.

Thanks Lee! I am now thoroughly depressed. :(

Have a great weekend. :rolleyes
 
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