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To: Sonki who wrote (19550)	5/19/1998 12:53:00 PM
From: billwot	Read Replies (1) \| Respond to of 27012

Sonki-Re:"...i did not know u were a builder...". I just got my Contractor's license about a year ago. I have two spec houses going up in a 7 lot subdiv. that I divided last year. One of the 2 is sold and I hope to build 2 more yet this summer. I have been buying single family homes for rentals since '91. Most were no-money-down VA foreclosures, but the minimum is now 5% for investors, so I will build my own if I want to expand my rental base. Houses that I bought for $100,000 5 years ago are now worth $125-130,000 Not a bad return about $ 1000 out of pocket at closing for the VA's. As I follow the real estate markets, I am aware of the West Coast boom. Here in Eastern NC (Research Triangle area), the boom has not been as dramatic, but still very good, and I hope, sustainable. Because there is still so much undeveloped rural land, prices have not been forced up here as they have been in your area. However, $750,000 spec houses are being built every day, so you know its a strong market. billwot