All Forum Posts by: Korena Jones

David, 

Do you know if the lots were owned by the builder or investors? 

I like your Will Rodgers statement!

Yes, that is the odd part about it! It's in a subdivision where homes are currently being built. He would pay the taxes and HOA's until he can sell it at a great price. He's hoping that since it's in a desirable area and, that he can make a nice profit if he holds it for 2-5 years. But...it's in a neighborhood!

Erik,

Growth of the city is limited because there is not a lot of places to build within city limits. The subdivision is in a beautiful coastal community (Destin), that people are moving to. 

If for some reason the land has to be held for years, I wonder if the HOA could come in and change the rules requiring my friend to do something with the land that wasn't required originally?

Steve,

Thanks for your advice! I know that he is not planning on buying at wholesale. He is pretty much going out on a whim anticipating a big ROI. I'd never heard of this kind of investing before today. Wow!

A friend is considering buying a lot in a gated community and holding on to it in hopes of appreciation. He says that he is able to hold the land and pay HOA fees for 5-7 years. This is a relatively new community in an city that does not have much room to grow. This doesn't sound like it is worth the risk to me for many different reasons. Does anyone think that this is a good idea? If so, why?

Congratulations and awesome job! Thanks for sharing!

@Travis Hamilton, I just wanted to follow up with you. There is a REI group that meets the second Monday of every month at 6 pm at Two Trees Restaurant at the FWB Golf Course. I attended last month and was able to learn some things about the market in Ft Walton and network.

@JPaul Mills 

Thank you for your help! I'll be sure to check out PIG. By any chance, do you know anything about RE Navigators in FWB? Have you attended any of their meetings?

@Travis Hamilton 

Okay, will do . I contacted Diane Keller (Endless Horizons Realty) this week and was told that the next RE Navigators meeting will be on Feb 9th at 6 pm at Two Trees Restaurant at the FWB Golf Course. More to follow...

@William Allen 

Thank you! I understand now!