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i admit to a monopoly style collecting properties in groups.
i have several modest homes in a small subdivision that could eventually go commercial. five in a row, three together across the street and another seperate; so nine. they pay their own way.
values are down now maybe 30-40s, from was 80-90s.
i’m very much cash poor lately.
anyway i’m tempted to try to get options on as many as i can.
i know some of the people. commercial idea may be 10 years out.one of the homes was in foreclosure but recently was dismissed. unknown reason.
any ideas or criticism?
If you can get an option with little or no money then that’s always a good idea but you need to record a deed of trust or mortgage to secure your option.
It may take much longer than 10 years depending on the area you are in. There is no financing for commercial projects so a deep pocket cash investor would need to take on the project.
There are also other factors to take in to consideration — is the area gaining population? gaining jobs? is it business friendly? does it have high state and local taxes? All these any many other things will factor in to the future of the neighborhood and/or a commercial project.
Many business are leaving the northern & western states because the taxes are killing them. Jack writes about this in his Distressed Market Strategies ebook.
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