Re: I need help flipping a slam dunk deal in MS - Posted by Bill H
Posted by Bill H on August 07, 2007 at 15:37:57:
John, Been in MS most of my life and know of the proposed new Toyota Plant to be built just outside of Tupelo, MS. Right now however the only thing I know of going for the area is that ELVIS was born there, and Columbus AFB is right down the road.
Exactly what makes it the “Slam Dunk” that you say it is. What can you put on it to make it double in price?
What is is currently zoned? Exactly how will the proposed new Toyota Plant affect this property?
There are people in SOCAL that bought out north of LA years and years ago because LAX was moving there…so far (about 40 years or more later) LAX is still where it always was.
Your email says “Finishline funding”…If you are a funding organizatin, why is it that you cannot fund the deal.
Not being derogatory but I did commercial real estate for the second largest firm in the nation and know from experience that everything that is going to double in price is not always going to happen. LIke they say in the casino industry…“The best way to double your money here is to fold it up, put in your pocket and WALK out the door.”.
The Canton area, just north of Jackson, has seen realtivle little appreciation other than the land the plant is built on. There are no supporting or ancillary industries that I know of located right around it. It all comes in by rail or truck. Tha Japanese are famouf for what they call “JIT…Just in Time” Inventory control. They keep nothing lying around and have the inventory so that the next shipment arives “JIT”.
If you have it under option…hold on to it…if you get a viable user/prospective buyer, sell it to them. If not, do not execute the option. Take your loss and move on.
I’ll look the area over again about the 1st of September as I go through there.