Home sales slowed in the second half of 2018, so much so that new home builders in many areas had to offer price reductions and add-on incentives.
As you may know, Real Wealth Network partners with experienced developers to build out subdivisions nationwide. We have projects in Reno, Tampa, Park City, and Bozeman.
On today’s show, we’ll hear from 40-year veteran developer, Fred Bates, on how those projects are doing, and whether or not it’s still a good time to build new homes.
Fred also acts as my advisor. Whenever another developer brings us a project, I first send it to Fred for review. 90% of the time, Fred gives the project a thumbs down because it’s too risky, often because it’s dependent on too much leverage with tight margins.
Let’s find out what he looks for in a good deal.
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