OK this is what i want to do , I want to buy 30 acers of land.I'll clear out the land and divided it in to sections. Each section will be two acers( thats 15 section).Next ill pave the road so i can bring the value up on the land .
One acer of land cost $7,500 dollars. A section will cost 15,000 thousand dollars.I get a loan for 225,000 dollars to buy the 30 acers of land. I'll add $4,000 so i can make a profit , plus i paved the road with concrete .So the value will be $19,000 dollars.
$225,000 + 2% intrest =238,500 the money i made will be $285,000. 285,000 - 238,500=46,500.So i make a 46,500 dollars profit.
Well guys is this a good idea?
2006-07-20
09:27:50
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21 answers
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asked by
tmblife
2
in
Renting & Real Estate