Buying Lots

[nepoez]

Hi all,

I have a friend who`s thinking of buying a planned development lots zoned for houses and duplexes. This project is called the Tiffany Green Plan in Stony Plain Alberta. I`ve been asked to partner up. However there`s nothing in REIN that teaches about investing in such things so I am thinking of walking away and just focus on what I learned from REIN, which is to focus on residential properties that can immediately produce income from rent.

What are your thoughts on this? Stony Plain seems like a good town near a booming city, but it just seems like speculation to buy a piece of lot. Financing that might be a whole new game too.

Thanks in advance

Newbie

 

[MikeMcCrae]

I call betting on something that might or should happen as speculation. And something that actually works now as investing. Both are good depending on your goals. Buying land ties up capital and credit that prevents you from buying more properties. However lots of people have made a lot of money on land speculation. Also financing raw land is usually difficult and expensive.

 

[lanedry77]

QUOTE (MikeMcCrae @ May 14 2008, 05:19 AM) I call betting on something that might or should happen as speculation. And something that actually works now as investing.
I think that`s an excellent way to differentiate the two - great description Mike!


David.

 

[ambyrai]

Hello Newbie,

I might be interested in the land deal, please forward my information onto your friend!

Thanks,
Amby
(250) 923 - 8820