| Buy one and get one free: new techniques to get rid of property build up. |
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| Written by Becky | |
| Thursday, 05 June 2008 | |
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Michael Crews, a developer in San Diego, is putting a new spin on buying promos. His new method to get rid of properties quicker is "buy one, get one free". Crews says that, "We are targeting a niche market of investors who are interested in the opportunity to buy a new home for themselves and get a free rental property or second home for family members,". At the moment they will give away a home with a valued price of $400,000 with the purchase of a $1.6 million luxury home estate in Escondido, CA. While the give away homes are row houses (series of connected homes sharing outer walls), the marketing director for Crew´s company, Michael Crew´s Development, says, "These are well appointed luxury houses." They are said to have 4 bedrooms, 4 baths, multiple car garages, and swimming pools. The deal was set to last for only two weeks in May, but they have extended it for the month of June. So far, one offer was made, but the client did not want the give away home. Crewś company has a solution for that kind of situation, saying the secondary home could always be given away. This could be of assistance to young buyers having difficulties to get loans with today´s tight credit requirements. |
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