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Originally Posted by will76
Actually with the information you just provided I wouldn't buy in that area. They just had a boom, you would be buying on the high end. If you bought a year - 2 years ago you would have done well, but things will level off, they always do, and after that much of an explosion I would say they are due to level off very soon.
The key is trying to find the location before it explodes not buying after it does.
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Agree Will - to enter that market/region now at the current price levels (assuming you could get property for sale), would most likely be a relatively "not so profitable" gain - tho prob still good for a doubling of investment over 3 years.
Still buying almost anything in the region as long at the pricing is rational, but obviously getting harder to do. The purpose is more than just "investment" - tho it does currently churn over around $3 mill capital gain annually - and is more a longer-term project involving international orgs as well as the investment side.
Tho - there is plenty more regions like that, tho you do have to "know" the area inside out. A friend just laid out .. think almost $6 mill (including some promo campaign) on some really basic land, plotted this and sold all plots for..around $47 million in 11 months - not bad - but that is pure hardcore development. So the opps are still there.