Real Estate Investors buying Partially Built Real Estate Properties. How to do it Profitably?

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Housing auctions are plentiful these days, including builders’ closeouts that lure hundreds of bidders to hotel ballrooms and public sales of foreclosures on the courthouse steps. However, this time the steel-nerved speed-talkers at Kennedy Wilson Auction Group are unloading a palatial 13,500-square-foot bank-owned spec home that had been listed for $9.775 million just a year earlier.

Nationally, the percentage of incomplete houses among new homes listed for sale rose this year from 39 percent in January to 43 percent as of October, according to the U.S. census. Though those numbers included homes under contract and still under construction, they also included unfinished homes abandoned by builders and placed on the market by banks.

Prospective homebuyers should take some precautions when considering the purchase of a half-built home. Buyers who have not had a house built for them before may be leery of such an undertaking, and out-of-town buyers may conclude they do not have the right kind of local contacts to get the work finished right.

Savvy real estate investors, homebuyers and landlords with construction background can take advantage of these shell homes and can sell them at a profit or turn them into a residential rental property.

Read the story on investing in shell homes and gotchas to avoid by CLICKING HERE

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This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Real Estate Investors buying Partially Built Real Estate Properties. How to do it Profitably? is brought to you by SimplifyEm Pay Rent Online and Property Management Software

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