Neumann Homes

[Mike Fuller]

Recently, Neumann Homes filed for Bankrupcty. They had a project that had begun near Gilberts,Il. The modela were built, then they went 'belly up'. The models are going to be auctioned but they're out in the middle of no where. Anyone know wheter this is worth persuing, or should I steer clear? :idea:

[Account Closed]

Who is going to be your buyer? Or your tenant? Out in the middle of nowhere isn't so attractive these days because no one wants to pay for the gas to get back and forth.

If out in the middle of nowhere means it is smack dab in the middle of the path of progress, it might be a good long term buy and hold.

You'd have to know your local market to know which it is, and even for a buy and hold, you must be able to get tenants.

[Mike Fuller]

Thanks, I'm going to do some research...