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re: Question on Subdividing land to sell

Posted on 2/9/17 at 9:52 am to
Posted by wickowick
Head of Island
Member since Dec 2006
45822 posts
Posted on 2/9/17 at 9:52 am to
Isn't the market over there soft? Do you have the capital to sit on the lots if they don't sell?
Posted by sonoma8
Member since Oct 2006
7672 posts
Posted on 2/9/17 at 9:56 am to
I wouldnt say it was too soft only because the property I currently own was part of a 10 section subdivision. Each section was approx 2.85 acres. The entire subdivision sold out in 2 weeks last June. The piece of land Im currently looking at is about 2 miles down the road

ETA: and to answer your question, I would still have about $40k in the bank if they didnt sell. Thats after paying fees for engineers, drainage and re-plat for the subdivision.
This post was edited on 2/9/17 at 10:02 am
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