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JLC ??SEPTEMBER 1992 How to (Almost) Turn a Profit in Spec Remodeling Spec Remodeling by Richard Cooley The spec rehab of this 1,700-square-foot cape turned out to be a break-even proposition. ike many contractors, I always keep a finger in real-estate speculation. Who knows better than a contractor how to enhance a property and thus increase its value? So last year, when I saw that work was going to be slow for the winter, I looked into investing in another property. I've built new spec homes before, but since vacant lots weren't a good buy, I decided that wasn't the best plan of action. I've also invested in a multifamily building and rented out the apartments, but I