The Options To Make Money From Obsolescent Properties That Can Be Put To More Profitable
As far as I am concerned, this is financial lunacy, when you consider that it is almost always much more cost-effective to buy an existing building that can be adapted for reuse than it is to go out and buy a piece of land and build a brand spanking new building from the ground up. And this is especially true today, given the shortages of building materials and the lack of qualified workers within the construction building trades. The fact of the matter is that when an existing building is put back into use, the property owner avoids all of the rigmarole that is part of the expensive and time-consuming new construction approval and building process, which can include:
1. Opposition from local antigrowth activists.
2. A long drawn-out building approval process.
3. Paying exorbitant building permit and impact fees.
4. Delays caused by shortages of critical building materials and inclement weather conditions.
5. A lack of qualified building contractors.
6. Construction cost overruns that can take years of appreciation in a property's value to recoup.
Definition of an Undervalued Property with Immediate Resale Profit Potential:
For the purpose of buying a real estate option, I define an undervalued property with immediate resale profit potential as: "Any property that can be purchased for at least 20 percent below the sale price of comparable properties in similar condition that have sold in the past six months, within a two-mile radius of the potential option property under consideration."
Optymalizacja ubezpieczenia