Construction Concept Trashed
At the beginning of the year I thought about moving in a new direction. Working with local banks I had a plan to buy rehab and resell homes in the Lake of the Ozarks region. In other times we could remodel personal homes etc.
Then I started to look at the shape of the homes that were attainable and the going price for homes in the area . It just was not a match for this area. Based on the depreciation of homes and the stale real estate market here I am afraid all that would happen is the bank would own a really nice house and I would owe them a lot of money. The actual turn around time for real estate sales here is SUPER slow and unless you are willing to give most of the homes away, no one seems to want to buy them. Its normal activity with populations that are under 100k for this too be the norm.
So to put that one to bed forever for this area, we will not be entering into the construction field here in Missouri.