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  • Profile photo of hoarelhoarel
    Participant
    @hoarel
    Join Date: 2003
    Post Count: 39
    January 2, 2004 - 3:22 pm

    Hi All,

    Thanks for th replies, I have been away from a computer for a few days and just got a chance to log back on the web. Anyway to answer some questions:

    The land area is 800 acres. It is relatively close to a capital city and should sell easily to “lifestyle buyers”. It has preapproval from the council for an 8×100 acre lot subdivision after a few conditions are meet. EG power and phone connected to each lot, drive entrance etc. Prices for the blocks are currently $250K plus each. The catch to this is the farmer who owns it would rather sell as a whole for about 1-1.1 million. If you could sell 8 lots at the minimum of $250K that is 2 million by my calculations. I know the connections and development would cost a bit, but I would be sure you would be left with a sizable chunk of change after the development.

    The interest for me is I would like to buy part of the land, probably 2 lots. If someone would like to fund most of the money (I only have about $50,000) then I would be interested in buying 2 lots at cost and the rest of the windfall would fall to the lender of the money.

    Profile photo of hoarelhoarel
    Participant
    @hoarel
    Join Date: 2003
    Post Count: 39
    December 17, 2003 - 3:33 am

    1 more copy for hoarelj(at)hotmail.com

    Thanks

    Luke…

    Profile photo of hoarelhoarel
    Participant
    @hoarel
    Join Date: 2003
    Post Count: 39
    August 27, 2003 - 5:00 am

    Do I notice a theme here! I too am working in IT doing Network Admin for a Financial Services company in Melbourne

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