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ss.nr> Eileen M. Day malto*
BUYING WITH
PROFIT MOTIVE
Most people buy a house to make it into a home. Others buy with the idea of turning it over in a year or two with a good profit, here are some hints for those with the quick profit in mind.
Buy a home in need of upgrading. Modernize it and decorate it, then, hopefully, resell for a profit.
You could buy a new house or condo during the planning stage when prices are usually lower and sell it when the project development is completed.
You could buy a house in a less desirable area, but an area which you feel is on the way back to popularity.
You could buy a small, multi-unit property which has, or may have, rezoning or condominium conversion potential. Remember, it only takes two units to make a condominium.
You could buy an approved lot, build a home, and then, based on your involvement in the construction, retain some or all of the builder’s profit margin. This margin generally falls in the range of 10% -15%.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 6753400. We’re here to help.
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