Quote:
Originally Posted by drichitt
I would be curious to see what kind of cash flow that place is generating Unless a zoning change can be had, any potential buyer's valuation will be based on existing cash flow and not potential. I agree with Mike....I can think of a few better places to park $4.5 million .
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7 to 10 years ago.....
It would depend on whether a person was a developer or an investor.
A developer would shoot for the property's highest possible use for return on investment. 50 to 100% return (or more). Out and gone in the shortest time possible.
An investor would look at existing cash flow and needed repairs to judge the value.
It's all speculation because of the family's situation. If no one is pushing for a sale, they probably can afford to sit on it, until they get their price.
If someone is pushing, the price will come down