Getting out is difficult!

[Rich Weese]

I haven't posted a thread in awhile. I think one of the last ones said I was retiring for real....Wifey and I decided to consolidate and move to The Villages in FL. We had 3 houses to sell, 4 cars, a golf cart and 5TH wheel. Got most of them sold. Here is my problem.

Money really does grow on trees. I just planted 3 fruit trees at my new home. If I water, fertilize, prune etc. I'll be able to pick grapefruit, oranges and tangerines off them for the rest of my life. Money trees are the same thing. If I do a few things, my money tree will prosper and I'll be able to pick money off forever. I have the formula, methods and experience to grow more trees. That is the problem.

If you aren't aware, The Villages is BOOMING-like a feeding frenzy with affluent people buying here. 50,000 golf carts and 45 golf courses-33 free for the rest of your life. There are 100,000 affluent people living here that want to play and spend money. It is projected togrow 20% by 2016. They're selling FIVE HUNDRED homes per MONTH! That extra 20% will require more support services of every kind. Restaurants, repair places, medical etc etc etc.

So, a week ago (March 9) on the front page of the Daily Commercial, the Leesburg FL newspaper says "wildwood: The next Boomtown". This little town is 100 yards from The Villages and has 7160 residents. The article says it will grow to 60,000 in 20 years. That is a 8 times growth. All the other little towns around here will do the same. That is the problem-Dang the money trees!

I know what Village buyers are paying and I know what I can build the SAME house for. I also know the price per square foot of each floor plan-don't ask me how I got them... I also know the subs building these. Sit down for this part.

The price per square foot is between 37 and $41 sq. ft. I know, not possible, but it is with a 75% profit margin without lot.

If I go just outside of the Villages, I can buy lots that are splittable and build the same house and sell for less and still make obscene returns. See why getting out is difficult?

Anyway, I just tied up 7 lots which will be split into a total of 12 lots for 80K. My builder will do all the oversight, I get my money back plus an obscene return and then we split the balance.

Dang trees! There are so many amazing things going on here in fun, activities, and opportunities.This is truly amazing and reminds me of other places I invested in over the past decades. Anyway, if your area has begun the slowdown, do some homework on my area. Your eyes will bug out at the #'s. Hope everyone is doing well. Rich

[Bill Gulley]

Good to see you back Rich. I rooted for BU just for you and Bryan (LOL) to no avail.

What I remember about Fl. is the England AFB area and the swamps, snakes, gators and August humidity ....that was a different time LOL

Well, at $45 a foot they aren't buying at Lowes that's for sure. That's where Habitat for Humanity is building for with donated materials! Direct buying, logistics would be interesting, sounds like about 8 rail cars a day. Where do they park the semi's? Sounds like salaried crews too. Chinese sheet rock? Without mentioning the names of the cartel you'll need to disclose the material sources, LOL.

How'd the soil test come out? I keep hearing about sink holes. New insurance policies coming out for sink hole coverage, heard about it as lender's requirements.

I turned from a blind corner the other day and almost hit a golf cart on the street here, club course is 2 1/2 miles away, I'd go nuts driving in a community of carts running around, I guess they are better cart drivers. Sounds like fun! Water those trees, especially the money tree. :)