July 17, 2009
According to Brad J. Lamb’s most recent July 2009 newsletter, “ALL YOU NEED TO DO IS BUY A NEW CONDO FROM FLOOR PLANS BEFORE CONSTRUCTION STARTS AND YOU WILL MAKE $40,000 PROFIT IMMEDIATELY!”
In most neighbourhoods there are developers who have priced some units incorrectly; being able to spot such trends is one of the keys to making a profit from purchasing off-plan in real-estate. But, what happens if the market turns even further for the worse, and you lose your job? What happens if you do not know how to spot these trends?
You don’t have to worry about that. According to the newsletter, “The caveat is, before you start buying, consult with a condo real estate expert so your condo decisions will be well advised.” Yup! Call Brad Lamb’s office today and tell him that you want him to personally guarantee your investment!
Is buying a condo these days the same as a $1 lotto ticket? According to the newsletter, “if you could buy a $1 lottery ticket that guaranteed you would win $40K in 3 years, and all you had to do was stay where you were currently living, would you buy it? I guess so.” Of course! Who wouldn’t? Only differences are that you are not putting down $1, and you are committing yourself to a heck of a lot more money than just the $1 put down. Oh yeah, and it is not guaranteed.
The reality is that investing is a gamble. Sure, you can learn the game inside-out, and foresee inaccuracies that can work to your advantage. But, at the end of the day it is a gamble, and there are unforeseen variables that can work for or against you. Further, with pre-construction you do not need an real estate representative; learn the industry for yourself, and make informed decisions based on due diligence before you commit yourself to hundreds of thousands of dollars in the hopes of getting rich, immediately!
I wonder what he would tell people who invested in Florida before the economic downturn?
matthew [at] buzzbuzzhome [dot] com