Friday, August 31, 2007

Idiot Investment - Brandentown, Florida

Here is a condo-flipper special - 8 duplexes and 4 triplexes for $3,600,000. That is 12 apartments for $300,000 each. Just buy them, put in 12 granite kitchens and sell them for $600,000. Personally, I think the new owner would do better if he actually sealed the road in front of the apartments. Dirt track isn't exactly an attractive selling point.

However, this investment seems to break the cardinal rule of real estate investment - location, location location. No disrespect to the good people of Brandentown Florida, but I don't know where it is. Can someone help me?

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