Land deal with HUGE potential, need your help!

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Posted by Aria Khosravi on November 21, 2008 at 03:34:29:

So here is a brain teaser for everyone. I recently discovered a piece of land is available for sale in my town with great potential. The piece of land itself sits on a very busy intersection that is growing immensely. On one corner adjacent to this land there is a movie theater, corporate restaurants, bank and gas station. On another corner adjacent to this land there is one of the two hospitals in town. One the last corner adjacent to this land sits a new up and coming outdoor mall.

This whole area is being transformed, except this particular corner. On this land sits an old abandoned one story house that once was home to a fortune teller business. The house that sits on this land was condemned by the city. It is a huge eye sour when everyone drives by and the city planner is aware of it. According to the city planner, no new development can go on that land due to the flow of traffic ordinances. He says there aren't enough entrances and exits and so forth, basically saying it cant be developed. The owner of the land put it up for sale for $430k with an owner carry option. This land is worth sooo much more if only there was away to put something there or somehow change the cities mind (which I don't see happening). Now I need your help, what can I do to turn this into a good deal. I pondered tearing down the building and putting up billboard post to generate money but I don't know if I will be able to cash flow off of that alone. Help!!

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