Option to buy lot in Bahamas way under market rate

[Leif Olander]

I have an assignable contract that gives me the right to buy a 15000 sqft lot on a golf course in a luxury resort that is being developed. Similar lots at neighboring islands go for up to $1 million. I have the right to buy this for $320k when they have them released.

This would be a fantastic opportunity but it forces me to put all my eggs in one basket. Or I could sell the contract and limit my risk.

What would you guys do?