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[QUOTE="Alexandoy, post: 199487, member: 25510"] We have a family friend who is a contractor for construction of building and other structures. What he normally did was to scout for a house that is in bad order. His favorite is a house that is condemned by the government engineer. The cost of buying is very cheap. But his best bet is getting into a partnership with the owner of that condemned house. He would demolish the house and build a new one then will sell it. The proceeds will be divided 60% for the contractor and 40% for the owner. But the ration would, of course, depend on the location and the market value of the lot. Likewise the house also has its market value that also affects the ratio of distribution. That family friend got rich with that business. He had contacts of workers and any time he can start construction. He is also well versed with the needed documents and permits. When the property is ready for selling he has some friends in real estate industry particularly developers and agents. It's really a good business that I saw. [/QUOTE]
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