GoFuckYourself.com - Adult Webmaster Forum - View Single Post - found good real estate deal.. $8-10mil from $2-3mil

Donnie Gangsta · 09-09-2004, 11:27 PM

I found a good deal today in Vegas... this insurance company/REIT went bankrupt and have some half developed lots in one of the most exclusive places in Vegas... they want $15mil for the lots but I think they would come down to $10mil... 33 lots.. they would sell for $600k/each once completely developed... Anyone wanna go in on it with me? Only need about 20% down... zoning is already approved, etc.. just a matter of completing and marketing .. looking for about $1.5mil-2mil from investors.... figured the interest on the loan could be deferred for a year so only 20% out of pocket at first.. would probably end up being about $800k in carrying costs (I would say it might take 24 months to sell all the lots but 12 months interest would be deferred)

09-09-2004, 11:27 PM
Donnie Gangsta Confirmed User Join Date: Mar 2002 Location: Las Vegas Posts: 1,104	found good real estate deal.. $8-10mil from $2-3mil I found a good deal today in Vegas... this insurance company/REIT went bankrupt and have some half developed lots in one of the most exclusive places in Vegas... they want $15mil for the lots but I think they would come down to $10mil... 33 lots.. they would sell for $600k/each once completely developed... Anyone wanna go in on it with me? Only need about 20% down... zoning is already approved, etc.. just a matter of completing and marketing .. looking for about $1.5mil-2mil from investors.... figured the interest on the loan could be deferred for a year so only 20% out of pocket at first.. would probably end up being about $800k in carrying costs (I would say it might take 24 months to sell all the lots but 12 months interest would be deferred) Last edited by Donnie Gangsta; 09-09-2004 at 11:29 PM..