8 Acres On Lake Michigan - $800k - Partnership Opportunity

[Robin Secord]

We have found an 8 parcel on Lake Michigan, in South West Michigan. This 8 acre parcel is a steal at $800k!  Our research has shown that 1/2 acre lots on Lake Michigan are currently selling for about $400k. We know this lot can be split at least 2 times (possibly more) leaving 2 parcels that are a few acres in size. We are looking to partner with people to make this deal happen.

Here are a couple scenarios that we see for developing the property:

1)Purchase property & split it into 2 or more parcels and sell them individually.

The numbers:

-$800,000 (purchase price)

-$25,000 (estimated cost for splitting the parcel)

-$6,000 (1 year taxes)

-$60,000 (realtor fees)

$1,000,000 from sale (if each parcel sold for a very conservative $500k)

$109,000 potential profit

2)Purchase property & split using above numbers. Now develop these lots as "build to suit". If you put a $500k house on each parcel, these would sell for approx. $1.5M+ each.

The numbers:

-$800,000 (purchase price)

-$25,000 (estimated cost for splitting the parcel)

-$6,000 (1 year taxes)

-$180,000 (realtor fees)

-$1,000,000 (construction cost for 2 houses)

$3,000,000 (each house and lot sale price of $1.5M)

$989,000 potential profit

*Please note that all these numbers are very conservative. The potential on this could be much greater than what is indicated.*

If the parcel can be separated into more lots, the profit potential in each scenario is higher.

There is great opportunity with this piece of land. Please let us know what other questions you have. We are open to working with one partner or working with multiple partners to make this deal happen.

Thank you!

Robin & TJ