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Strategies & Market Trends : Value Investing
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To: Lazarus who wrote (66478)2/9/2021 12:05:18 PM
From: Lazarus  Read Replies (1) of 78918
 
Here's an interesting little story regarding that 21 acres of land purchased for $20k.

I had a young man who had a successful marijuana business in So. California who wanted to purchase it.

I did a lease/option on it with him whereby he paid $5k for the option to purchase within 50 months with lease payments of $300 per month. All money he put into it would go towards the purchase price of $69k.

$5000 +
50 x 300 = $15,000
__________

Total = $20k (my cost for the property)

He paid the entire 50 months and told me a month or so before the end of the option period that he was going to pay the remaining cash out price of $49k. However, things changed. He moved to Florida (I think he got married) and decided not to exercise his option.
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