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Considering building a house for spec (to resell). What should I know?
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Maybe I'm being unrealistic, but I think the stock market is overvalued and the housing market is pretty valuable right now, so I thought this might be a good way to earn some money. I know of a few good pieces of land in good locations and I have the money to put into building the house, so financing isn't an issue.
The biggest risk as I see it is that the housing market cools off before I sell the place. What other risks should I keep in mind?
Let me know, thank you!
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