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Re: The real estate bubble is over
Old 05-15-2006, 02:31 PM   #41
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Re: The real estate bubble is over

I'ld dump my existing house - tax free - then live in Mom's pad and give the good life a try. If it doesn't "work out" ... sell it largely tax free as is after 2+ years.

Might save more by selling tax free - and risk free - than if you develop it and pay capitol gains on the whole wad.

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Re: The real estate bubble is over
Old 05-15-2006, 06:20 PM   #42
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Re: The real estate bubble is over

Beware building a spec house. Builders do it year around, many times and still get rolled. There are a ton of things that can go wrong. I have linked a story of a guy in construction (truss plant). Almost everything that could go wrong did. At exactly the wrong time.

Can you do a spec and make money? Of course. But it is a lot of work. Even if your family is in da biz. I built my first house almost 20 years ago. Selected a builder on the next one. One of the best decision we ever made. Way less hassle. I am in construction. Have or could get contacts for most any service. And there is no way I would build a 2 mill spec house. Can you afford to move in and live in it?

be nice to the Breaktime people. They are a good bunch. But they can be a little hard on noobs

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Re: The real estate bubble is over
Old 05-16-2006, 03:18 PM   #43
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Re: The real estate bubble is over

Wait until you see the per square foot construction costs on a house that isnt half built by immigrant workers...
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: The real estate bubble is over
Old 05-16-2006, 03:55 PM   #44
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Re: The real estate bubble is over

Yeah, I know it's expensive, but I still prefer a full built house. Walls, roof, everything. Otherwise, I can never decide which half to leave out.

"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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