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400 times 60% is 240 acres. That's 480 one-half acre lots at $150,000 totals $72,000,000. In order to get a 12% return on $100 million, you have to market the lots for $235,000 each. The bottom line is there doesn't appear to be a need for the amount investment capital asked for on this deal," George said."Something doesn't add up here," I said. "If McKenzie has an option for the land at $20,000 per acre, he'll need less than $10 million to purchase the land. If he is supposed to be coming in at $50 million, I'll bet he is planning on using the 400 acres at $125,000 per acre as his investment. If he had $10 million, he would have already purchased the land," I said thinking out loud.George said, "It's feasible. John, this deal smells." That's what I think as well. I'm having breakfast with one of the potential partners this morning," I said. "I'll reveal this to him and get his opinion. Do me favor, make a call and find out what price the owner will want when the option expires and. In spite of that, Patty didn’t press him. She Saran-wrapped her plate and left it on stove (because she had only been pushing the food around on her plate anyway), and prepared to drive Angie across town.Twenty minutes later, Patty was finally ready to drive Angie to North Cambridge. She had to send Angie back inside twice, the latter time sending her with the threat of choosing her clothing for her (“You are not a cow showing off your udders, young lady – you cover yourself!”) As they drove, Angie updated Patty on the gossip of Angie’s friends, and friends of friends, and acquaintances to the nth degree. Patty didn’t pay much attention beyond giving the standard “Yup…uh huh…oh really?” as required. She was occupied with the conversation she would have with James when she returned home. After dropping Angie off with a kiss and eliciting a promise to be safe, Patty turned her full attention to her situation at home. She went through several different scenarios in her head, trying to.
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