Multi Million Dollar Beach Houses

Estimated reading time: 0 minutes, 55 seconds

beachhouse1We have been going to Rehoboth Beach for several years but this was the first year we were going in an "official" capacity.  When we visited last year around Memorial Day,  there were two ocean front lots for sale totalling  2M.  What makes this interesting was the beach house next door was being forclosed upon.  There was an auction there one day when we happened to be strolling down that part of town;  the reserve we were told was 4M.  We were thinking, or should I say fantasizing, that it would probably be better to buy one of the lots (or both) and build a beach house on each, giving you a better return on investment.   Well,  that is exactly what someone did.... a little over a year later,  there was 1 complete house and 1 semi-finished house for sale.   So in about 1.5 years,  someone purchased the land and built two beach houses... Would love to know what  return on investment they are aiming for.  Also would be interesting to know the final price of the beach house next door and what may  have happened....   hmmm.......

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