Quote:
Originally Posted by 8gv
A farmer's market or flea market will not cash flow an investment of this amount.
Pick your price... $4.9? $2.5? $1.0? and then add in whatever costs to prepare the new venture.
Yay! You are now ready for operating costs!
I think it only works as condos and certainly not at the price she wants now.
I agree with the post above that suggested that she get the dig going now.
Otherwise, sell it for a much lower price.
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Her age creates a timeline issue.
The timeline issue on the property is the largest reason for lower value.
With that being an unknown... it is really hard to determine the amount of property tax and what a new venture would expense or generate.
As is... the property value would need to be much lower.
Unlike a perpetual entity, like the State or city, picking up any extraneous unknown costs, questionable properties generally sell for much less than anticipated.
The highest use from a purchase price would be something that does not trigger permitting requirements.