Dec 28, 2009

Land Banking: Time to re-Start ??

Happy Holidays Neighbors!

May 2010 bring you health and prosperity.

Tomorrow, Jenny and I are going to look at vacant land in a couple of the resort areas in California's Plumas County. We've been watching that area for 11 years now. Jenny's family has owned property there for at least 25 years.

That market has bottomed, and it's time to consider "land banking" an investment lot or two for the near future. Property in some of these locations are selling at less than 20% of market value from a few years ago. If you can sit and fund the HOA dues, this should create healthy returns four or five years out.

This isn't nearly as risky as the "Winchester" development outside of Auburn, California. We've done background checks on their financials and market plans.

Call if you want to discuss.

Again, happy holidays from everyone at Neighborly!

- Jim

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