Need some help with a very attractive deal in TN

Land Investing
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Hi All! I have an exclusive option on a 124-acre parcel in Brighton Tennessee. This is one of the last large pieces of available vacant land in the Memphis Tennessee metropolitan area and is in a highly desirable area.

Seller wants $750,000. We can then wholesale the complete parcel to a developer for $800,000-$850,000.

Better yet, we already have two people interested in buying 10-acre parcels from us at $10,000 an acre. This alone will generate $100,000-$200,000 in the next 60 to 90 days. We can then divide the rest of the property as follows:

• Sell 22 5-acre lots at $50,000 for a total of approximately $1.1 million dollars
• Sell 28 4-acre lots at $55,000 for a total of approximately $1.54 million dollars
• Sell 33 3-acre lots at $57,000 for a total of approximately $1.8 million dollars

The property has already been platted and zoning is unrestricted residential. I have a great realtor in place to help.

Looking for investors who want to partner with us on financing this deal. Option expires December 31 of this year, so this is very much time sensitive.

Serious inquiries welcome. Please contact me if interested. Cell is 732-598-9343.
Thanks,

Frank

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@frankgaron said in Need some help with a very attractive deal in TN:

Better yet, we already have two people interested in buying 10-acre parcels from us at $10,000 an acre.

What have these people done to express their interested? Have they shown you proof of their funds and ability to buy now?

I’m not doubting you, but there are A LOT of flakey people who “express interest” with no plan of following through. I’d hate for anyone to get to deeply involved with a project of this size without some assurances that there are some serious buyers who will actually follow through.

Also, what are you basing those other values on from your three bullet points? If those numbers are accurate, then it’s obviously a great deal, but how confident are you in those numbers?