This business plan is an invitation for qualified members of the public to participate in opportunistic leveraged land speculation and acquisition in a rapidly growing and economically dynamic market located in the “Silicon Slopes” of Utah.
Sometimes there is set of circumstances that represent a financial opportunity. Ground Floor, LLC a leveraged land group has been formed and is poised to capitalize on such a scenario.
The legislature in State of Utah has voted to relocate the Utah State Prison from its current location in Draper, Utah to an industrial site in west Salt Lake County (Northwest of the Salt Lake International Airport). As a result of this transaction, the property currently occupied by the prison is to be vacated and made available for redevelopment. This will open up 680 prime acres at what has been traditionally called “the point of the mountain” for a master planned development.
Extensive input has gone into the nature and quality of site utilization, and development entities and enterprises have already been enlisted to participate, to the point that is is unlikely that much of the former prison site will ever become available except by resale or lease of a completed building.
There is, however, a significant amount of land located on the periphery of the soon to be vacated site (estimated completion of the move is June 2020) and therein may be opportunities for Ground Floor to employ its formula to profit from the upcoming transaction.
In the past, Mr. Gary Willey, a principal of Ground Floor, has become aware of other potentially lucrative circumstances and employed a land purchase option to tie up property in anticipation of finding a window of opportunity with a willing capable buyer, then exercizing the purchase option and completing the sale
The benefit of the leveraged purchase is that for an option fee (around 1 to 2% of the value of the property), Ground Floor “controls” the land and at any time during the option period can purchase the property for an agreed upon price (it is also possible to offer the land seller a portion of the appreciated sales price and join forces to complete the sale, eliminating acquisition capital requirements). If the initial criteria are valid, research is thorough and the terms and timeframe of the option are well designed, the return, cash on cash, can be extremely rewarding. If any of the preceding is off, the option investment is forfeit. Multiple options on a variety of parcels is one method to combine and manage risk. Dilligence is the main risk modifier
the past and in other Utah communities Mr. Willey has successfully
anticipated the market, and while we are not projecting the 200 and
even 300% return (on total land value) he has achieved in the past,
we are anticipating a return of 15 to 20 percent per year at the
time of sale.
We have already acquired a 7.36 acre parcel overlooking the soon to be vacated 680 acre prison to develop a new 250 key upper tier full service “smart” hotel located in the center of Utah’s Silicon Slopes (Bluffdale, Utah). This site will ultimately hold three hotels of differing quality levels and pricepoints. So, there is still time to participate in this as well as new acquisitions, In fact, we need new investors so that we can fulfill our business goals.
We are considering converting our raise to a convertible debt format, your feedback would be most appreciated. We are also going to offer equity positions in the hotel development entity that is preparing to build these projects. Inquire
If you have any question about the viability of this suburban location, just Google “Silicon Slopes”.
Contact Gary Willey @ 801 573 7924 or Robert Brooks @ 541 576 4904