What is Pre-Construction?

[Account Closed]

I have done a lot in other "portions" of real estate, REO's, flipping, wholesaling and a few other things but never pre-construction. I am not going to get into it but I know of a few people with Buildings that are in Phase 1 or 2 of construction and want to sell. Is that Pre-Construction? I had a friend tell me that is what would qualify as a pre-construction project but he is a little loopy sometimes so I would rather learn what it is from someone with experience in it. Thanks :mrgreen: