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Realtor advised me to buy spec home

Personal situation: incredibly hot seller’s market. Plenty of cash, income, and savings.

They said they’re invested in some property, not sure if they meant invested in the same property they were recommending. They said I should look into condos that weren’t built yet and that they “had the inside track” on when other buyers back out and so I could snag one with just a few thousand to hold the condo until it was done being built sometime in 2022. Is this a “spec” home? Is it a good idea?

They claimed this might somehow mitigate the whole issue right now where every home is going 20% over listing. And that in doing so, I will have a home that may appreciate greatly over the next year before actually moving in.

Thanks!

submitted by /u/aj1t1
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source https://www.reddit.com/r/RealEstate/comments/lu2ylb/realtor_advised_me_to_buy_spec_home/
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