Posted by Todd on February 18, 2000 at 20:35:37:
I have recently found a property for sale in North Central Florida, where I live, that I feel has a lot of profit potential. The problem is, I don’t have a chance of qualifying on my own, and I would need investors. The property is 40 acres covered with mature pines. The timber alone is worth between 60 and 100 k-I looked it over and called the local forestry office to verify. The land is worth about 6500-7k/acre and could be divided into seven 5 acre tracts ($30k ea.) Therefore, between the land resale and timber sale, there would be a return of approx $270-$300k for a 210k investment. The best part is there is a small house on a couple of cleared acres on the edge of this property (that I would like to acquire for setting this deal up)-and that is my main motivation for this deal. My problem is, I don’t have any investors lined up and I’m not sure how to go about finding any. Also, I need to lock this property up with a contract, and again I’m not quite sure just how to go about doing that either. Any advise would be greatly appreciated. sincerely, tellis