Look, its pretty easy to see this isnt the time to enter in. The excess inventory situation is expected to go on into 2010. In some markets, the inventory may not so bad, but that a market to market thing. In your area, is there an overload of spec houses on the market? What houses are selling right now, and over the last year ( I mean what price ranges, new or existing, etc ). Are customs doing well now, and at what price range are they?
Then figure in what you need to buy at and will it fit in in the range that has high demand and sales, and will you be able to turn it for a profit?
With the credit crunch, it may not turn well nor fast. Again, not a good time to do this.
