Quote:
Originally Posted by Harvey Specter
I know builders who have 3+ homes going, lines of credits against their principle home maxed out, no cash on hand, don't pay contractors so they have liens against their properties. They basically wait for the 1st home to sell so they can pay the bills.
It's actually ridiculous to think some people have leveraged themselves to the point of no return if the RE market starts to tank.
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there are also people that are doing that who aren't builders or construction professionals. home renos at best with maybe a couple friends in a trade. i think the mentality is "all you do is hire subs to build for you, what can possibly go wrong amirite?"