A quick $100k-$200k

Posted by Dave Fratello on Wednesday, May 2nd, 2007 at 11:38pm.

Here's a nice business to try out if you can...

Buy a $4 million lot in the Hill Section, hold it a couple months, and sell it for more than you paid.

This appears to be the strange but true way that someone is realizing $100k-$200k about five minutes after buying 721 9th St., a large 10k sq. ft. lot in a very sweet location with big views.

Purchase closed at $3.95m on Feb. 15, 2007. The lot went up for sale 30 days later at $4.195m. Today, the property is in escrow.

The listing offered "conceptual plans" for an 8,000 sq. ft. home.

Presumably the holder of the lot was willing to slog through actually building a new home on the way to earning even more money. But why bother if you can flip the lot and sweat not a bit?
comments powered by Disqus