We financed the $1.1 million by recruiting shareholders into our land co-op. Made a down payment and the seller financed.
Then, when we had more shareholders, we invited them to retire the loan. In one hour we had commitments for the $800,000 balance.
We’ve since paid that off as well.
Please let me know when you begin selling shares for your Arizona location as we are very interested.
How do you go about purchasing or financing a project like this? Have you looked for any property in Texas or Florida?
We financed the $1.1 million by recruiting shareholders into our land co-op. Made a down payment and the seller financed.
Then, when we had more shareholders, we invited them to retire the loan. In one hour we had commitments for the $800,000 balance.
We’ve since paid that off as well.