Raw land to subdivide purchase

[Clint Shelley]

Hi Everyone,

Today, my partner and I closed on our second land purchase. The last was a quick land flip. This will be more extensive. We will divide this 12 acres of land into 10 lots. They will be serviced by on-site septic, so we'll plat and do the perc tests. This property is in one of the hottest school districts in our area, so I hope to have them all sold this year. I find the deal and he covers to 20%. We borrow the 80% at 5% and have note set on a yearly payment for 5 years. We split 50/50 after all costs are covered. I'll go through the numbers once we are done. Attached is an aerial of our proposed lots. We'll survey it out tomorrow and get our lot signs up. Let me know if you have any questions. Thanks.

Clint

[Kevin Harrison]

i was wondering how everything is working out or has worked out with this deal as i have an opportunity to do a similar deal in my state.