8 Acre Developement
I have an 8 acre piece of land with views of lake travis on a private subdivision. This subdivision has a small 9 hole golf course, private beach and lake access, 3 acre pond stocked with fish, boat ramp and private banquet hall. The purchase price is $140K. I can get 16 1/2 acre lots with lake views on at least 12 of the 16. The selling price should start at $225-$300K. The lots in the area are selling for $40K a piece. The seller is going through a divorce and is giving the other party $70K. He wants to put his $70K back into the deal and be a partner in the developement. What is a creative way to come up with the $140K and get the money to build the first 2 homes?
There are plenty of ways to get this deal done, and I would love to be involved in it. But just to start, my advice first off is to get a few of the lots presold. ) definately know a few investment groups who would be interested, with the way you describe it ................... who wouldnt? Contact me if you need help.
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[ Edited by fredman226 on Date 01/13/2005 ]