How did Investors made fortunes from Pre Construction
1.
Most true South Florida real estate investor knows the importance of first
level investments. “Get in the beginning of
the project and get the first initial price level”.
In the initial first phase (the first minute in the
sale process/ the first 4 units sold in the whole project)
of the transaction is where top investor buy. Sometimes
condos are sold 3 times before the end user moves
in! Every time a unit is sold, price goes
up. Good timing and a good Florida realtor may save you $150,000
easily.
A unit may sell for $745,000 in the first
hour of the initial selling phase, and that same unit
may sell for $875,000 2 hours later. Jiany Massad,
a Florida Realtor with RE/MAX knows that best. He
gets his investors and end users
to send a letter of interest prior to the selling
day in order to reserve the property before anyone
else does.
2.
Developers tend to test various markets. They will often
hold back units in order to test their prices. Have
a realtor such as Jiany Massad have a good relationship with
multiple developers. Most often prices will be revealed
prior to sell day, and a good
real estate broker in Florida
should be able to offer those first initial
prices to you.
3.
Have a Florida real estate agent represent you and have that representative
be the 1st in line on sale day, with good a relationship
with the developer.
4. You have 15 days in Florida (Rescission period)
to cancel your contract and receive a full return
of your deposit. It is always a winning situation
when you reserve the unit. If you do not see a price
increase, then you can cancel 15 days after signing
the contract and receive a full refund of your deposit.
5. You must have heard the word “Flipping”
or selling your unit prior to closing or before the
completion of the construction. Well depending on
the contractor some will let you flip (sell prior
to closing) and some will not. A good realtor should
know where to lead you. You can often sell your Condo
unit before the construction is completed for a very
nice gain. This is called flipping.
Click here
for more information on flipping
JIANY 954 274 1015
.
6. Florida Water properties are great, often expensive, but
they are not the only profitable ones. Property in
redevelopment areas often have a lower initial price
and require a lower deposit, but may reap a good investment.
7. Your deposit is usually held in escrow with a lawyer
or a Title Company and not released to the developer/builder
until your unit is complete.
8. Condo Hotels – Preferably a long term investment.
The unit is part of a Hotel project and it is managed
by the Hotel Management Program. The owner can typically
use the unit for 3 weeks to 6 months and receive rental
income for the balance of the year. Condo Hotels have
become very popular in South Florida and the Caribbean.
9. Foreign buyer's - South Florida is the open door
to the US for all of South America. Millions of people
are buying second third homes here in South Florida.
There are many programs available for foreign investors.
10. You can purchase a Pre-Construction Condo with
typically a 10% deposit with the contract & typically
two 5% or 10% payments during construction. You often
do not need to provide credit or mortgage qualifying
information at the time of contract. Any one with
the 10% down funds can participate in this form of
Real Estate purchase.
11. Location of the unit in the building is crucial.
Your realtor should advice you which unit to choose
from in order to maximize your profit. You must strategically
pick a unit at a low price, but that will earn you
a high profit on the re-sale.
THE BIGGEST SECRET OF ALL - You can use earning from
your retirement to purchase Pre-Construction Real
Estate. Your short term capital gains taxes are deferred
because they grow in your retirement account. Proper
tax planning is required to take advantage of this
tremendous opportunity. Check with your Accountant
and Attorney to review this opportunity.
E-Mail: jiany@floridarealtyfinder.com
Tel: 954-274-1015
The information in FloridaRealtyfinder.com is not
written by any developer. This information is offered
to you as a service only.
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Pre construction Secrets from top Investors.
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