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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (2446)10/27/2014 10:27:41 PM
From: E_K_S  Read Replies (1) of 2722
 
If used for urban home grown farm land, that would be approx 6 lots to the acre. At $500/lot it's $3000 an acre plus demo and some amount for property taxes.

That almost works if they do not have to pay the full demo costs and the arrears in property taxes. However, the winter are pretty cold in Detroit and growing season is short. Water rates are probably high too.

Could be a long holding period (over 10 years) before the land could be developed.

EKS
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