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Updated over 4 years ago on .

User Stats

38
Posts
40
Votes
Tim DeFor
  • Rental Property Investor
  • Norfolk, NE
40
Votes |
38
Posts

Farm Land Development - HELP!

Tim DeFor
  • Rental Property Investor
  • Norfolk, NE
Posted

I'm too trusting. So I misjudge and miss out. Now, I'm nervous. We are all in on a deal. Winning could set us up for future REI toward FIRE. Losing could be catastrophic, derailing the legacy we are building for our grandkids. In October 2020 we purchased a major fixer-upper on 40 acres zoned Ag. Our hope is to rezone and sell off part of the property, fixing up the home, and keeping a larger acreage for ourselves and three 3 acre lots to sell in the future. A developer offered us 25% more per acre than we paid per acre for the remaining acres. The developer would purchase a portion initially and an option to buy with first right of refusal the remainder of the 25 acres. The developer would manage rezoning, replatting, and infrastructure. How do I know if I'm being too trusting or if not moving forward is missing out on a good deal?