Think your dreams are big enough? Read this... - Posted by soapymac

Real Estate Investing
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Posted by Perry IL on April 21, 2000 at 13:13:32:

thanks soapymac

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Think your dreams are big enough? Read this… - Posted by soapymac

Posted by soapymac on April 21, 2000 at 09:32:11:

The following is submitted to you all to get you thinking “outside the box” a little bit. This is a quotation from the “Private Properties” column by Felicia Paik as it appeared in the Wall Street Journal for Friday, April 21, 2000 (page W12):

“John Thornton, a Chattanooga, Tenn. Entrepreneur and real-estate developer, has listed for sale a 412-acre parcel he owns in the Crescent H Ranch at Jackson Hole, Wyo. The asking price is $38 million. The property has ten guest cabins, employee housing for 24, a barn, and riding and roping arenas.”

“In 1997, Mr. Thornton had corralled the 1,300-acre Crescent H Ranch for $52 million after a foreclosure on the property. He divided the land into 30 parcels of 35 acres each. To date, he has sold 23 parcels for a total of $100 million. Now, Mr. Thornton is selling 412 acres that he had planned to use himself. Mr. Thornton says 225 acres are protected by a conservation easement, and the balance of the land could accommodate seven home-building sites.”

As Lonnie Scruggs would say, “Good Enough!”

…and are your dreams this big yet?

Cordially,

Roy MacLean
“soapymac”

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Re: Think your dreams are big enough? Read this… - Posted by Neil Roseman

Posted by Neil Roseman on April 22, 2000 at 09:41:51:

I wonder what his net worth was before he did the deal…meaning how hard would it be to pull off financing for a $52 million deal?

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I need help with this Foreclosure ! - Posted by Lee

Posted by Lee on April 22, 2000 at 24:20:43:

Hi Soapymac,
Where have you been, long time no see.

I’ve got a problem here, I too am working on a foreclosure.

Borower owes $300,000 plus. From what I have been able to estimate so far, the properties are worth over $600,000 (being conserve).

I’m out of my box… but frankly, I can’t do the deal all by myself.

What to do, where to go to get this deal done folks?

I need a name and a phone # of someone to call that would be intrested in shareing in something like this.

The hook is in the water, ya gonna bite?

Lee

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He sold 35 acre parcels for $4.3 million each? (nt) - Posted by RobertR CO

Posted by RobertR CO on April 21, 2000 at 20:27:45:

nt