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Posted by Secretia Green on December 13, 2006, 8:45 am
Shop for a decent mutual fund. 10%+ should not be too difficult and you
won't have to get out of your chair.
> I am new to this board, so pls be gentle...
>
> I have a vacant lot on a nice corner in surburban Chicago that I am
> trying to decide what to do with. I could probably sell the lot for
> about $40,000 outright. I will have about $50,000 from the sale of
> another residence that I would like to invest somewhere.
>
> I have some home repair skills, but not rough carpentry. Is it very
> likely I can make a 10 to 15% return on my money if I sub contract
> building a semi finished home on the lot ? I foresee problems because
> of my inexperience perhaps eating up any pricing advantage of home+lot
> versus lot only sale.
>
> Has anybody done a DIY home strictly for resale and made money like
> this ? I do not anticipate rising values bailing me out of this if I
> don't keep it under budget, due to circumstances beyond my
> control/ability.
>
> Will banks or mortgage brokers be willing to finance at reasonable
> rates, so interest & closing costs don't eat up my capital ?
>
> What experiences, both good & bad have you had with this sort of
> thing ?
>
> Pinball Bob
>
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