Quote:
Originally Posted by LIforrelaxin
Don't think I haven't thought about it... But here is the problem... The cost of buying out current property owners is cost prohibitive.... It really needs to be one of the current property owners deciding that development makes sense...
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I have done the same. As you say the cost to purchase from an existing owner will not yield the "cap rate' necessary to justify the purchase. There are better opportunities in the area for real estate investment income.