Socially Responsible Investing
Capitalize on Trends
Five acre lots are selling briskly in Sanpete County. People desiring a more rural lifestyle are coming from California, Salt Lake and the Wasatch Front as well as other surrounding states.
Current 5 acre subdivisions selling at $125,000 per lot sell out quickly and offer fewer amenities than our lots. In addition purchasers of those lots have to drill wells. Many are on main roads and offer little privacy.
Our lots will be in a gated subdivision on a quiet road near Spring City. We will have a water system, paved road, internet and power. Though it is very private, it is only 3 miles from a Walmart, College, library, post office and other stores and amenities.
Short Term Financing
Tranche One $250,000
Tranche Two $250,000
Tranche One $250,000
Tranche Two $250,000
Over a quarter million has all ready been used to start this project in acquiring the land, some water shares, road roughed in and a well. The first tranche of $250,000 will cover major milestones such as county fees, surveying, engineering, site plot plan, marketing and the entrance gate. It will also cover costs for power and internet and a balloon payment of $80,000 on the land (and then the land will be free and clear).
We are offering 6% for twelve months. Minimum is $50,000.
The second tranche of $250,000 will buy more water shares, drill two additional wells, the water tanks and pumps, excavating, pipes and laying all internet and power lines.
Third Tranche $250,000
The third tranche is for the road. Minimum $50,000 investment.
Current Worth
The 90 acres of land is divided as follows: 20 acres in a minor subdivision and 70 acres. As the zoning exists only one additional home can be built for a total of five buildable lots without doing a major subdivision. Each lot is worth $125,000 as is for a total land value of $625,000. $80,000 (13% of value) is owed on the property and has a balloon payment due Mar 21, 2020.
The minor subdivision will be vacated in favor of a major subdivision. The county has verbally approved that to be done as no homes were built in the minor subdivision. The land is zoned A1 or 1 home per 5 acres with a major subdivision. No zoning changes will be needed.
Property taxes are current.
Water
One well has all ready been drilled and two others have been sited for drilling. All wells will be pumped into two water tanks at the highest north end of the property and then distributed to all eighteen lots. Fourteen additional shares will need to be purchased for about $3500@. Water on the property makes our lots much more desirable than lots that don’t all ready have water on them as it is a gamble whether or not those lots even have water.
Our property has three unique sources for water and strengthens our water position.
Principal
Susan Manning, owner of Shekinah Development Company, has a broad business and real estate/construction background with a lot of executive management experience. Susan was a Real Estate Broker for 23 plus years, many of those years working with builders in Utah County. She not only was the Sales Manager but helped with accounting, budgeting, home design and raising financing for spec homes and acted as construction supervisor on many builds. Concurrently, she had an accounting and finance business consulting with start up businesses, setting up their accounting and staffing their companies. Previous to her real estate career she was a Vice President for several corporations.
Future
Shekinah Development Company will be having other projects in the future. Let us know if you would be interested to be on the list for notification as new opportunities become available.
