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Registered
Join Date: Jun 2000
Location: bottom left corner of the world
Posts: 22,914
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Property development question.
Property development question.
The situation. I have some beachfront land property developers are interested in buying to do a six or eight townhouse development on.
The numbers. Let’s work it out for six townhouses. Six times the sale price of each townhouse at 1.9 million = $11,400,00.00 The build cost plus infrastructure, plus site driveways, landscaping etc is (very roughly) $3,000,000.00 This means $8,400,000.00 after costs.
The question. What is the most the land is worth. Obviously developers want to make a big profit margin to make it worthwhile taking all the risk. But I don’t need to sell, so they have to make it VERY attractive to me, to accept their offer.
A point to consider. It would probably be cheaper for them to hire a hit man to bump me off then deal with my estate for the land LOL
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