At the moment I don't know a whole lot about construction; however, I bet if you put together a good team of knowledgeable people it could work.

So many of everyones posts have been a great help already, but you bet, I'm sure I've got lots to ask help on.

I'm sure many people have done this, but I'll bet that most of them don't fully understand why they are doing it, and many of them are losing money without realizing it.What's USUALLY in the back of their mind when they do this, but is often subconcious, is that they are COUNTING on the house to appreciate and/or rental rates to go up.

Originally posted by "rcfran":If you must ask such a basic question, you really need to reconsider your investment choices...Thank you for being constructive here.

what i was saying is that i prefer rehabbing, but i have a little construction experience, and i'm mechanically inclined.

I plan having 1 minor construction task done: filling in one doorway to a cubby on the 3rd floor and then knocking down a wall from the master bed to form a walk-in closet, and then professionally repainting and cleaning the place.

My husband and I have been doing this pre-construction thing since '05 and didn't know real estate would take a dump.

If you were to walk through the streets of downtown, you may not see a lot of construction.

Remember, each state establishes it's own reg and exemptions.In the end, I guesss your best bet would be to seek legal advise before pursuing PL for funding your deals.

However I bet money most of them are just looking for a cheap house and aren't investors.I dunno.