There are cars out there that are worth millions of dollars a piece. there are 5000 square feet Houses over million dollars. But what about a TOWN worth only $800k? "Own your own town for $800k" is an article written by Mike Krumboltz just yesterday. The article describes the entire town for sale.
"Had it with life in the big city?", the article starts off with. "The traffic, crowds, and high rent got you down?", it also said. "Then may we suggest you consider investing in the town of Scenic, South Dakota?", the author says. Mike also describes that, "by "invest" we mean "buy the whole darn town for $800,000." "That's right", the author says and who would not be interested if they have money to spent on this kind of investment. "The small town, which admittedly has seen better days, can be yours for just a bit more than an average home in San Francisco", the author confirms. Then the author says, "So, what exactly do you get for your $800k? Quite a lot, actually". He also gives description of what the investor would get in the investment. Mike says, "You'll get a dance hall, a saloon, two jails, a train depot, two stores, and some more empty buildings." "According to ABC News, the town is for sale because the current owner, Twila Merrill, has been diagnosed with cancer", the article says. According to the article Twila Merrill's daughter, Lee Ann Keester, remarked, "I have to take care of my mom. Family always comes first... But it's just time, everything comes with time... [My mom] would love to do it until she's 100, but her health won't permit her."
"True, the town won't be mistaken for New York or even Green Acres" the author says. though however according to the article, "based on the pictures, it does have a certain Old West charm", and , "One can almost picture John Wayne ambling down the street." The author also says, "It does look like a ghost town--and with fewer than 10 residents, it's mighty close to becoming one." "This isn't the first time an entire town has gone up for sale", according to the article. Mike says, "Some may remember actress Kim Basinger's ill-fated purchase of Braselton, Georgia for $20 million." A town on sale for $20 million is understandable, but this one is in 6 digit not even 7, only 800k. what kind of town is it, or is it the location of town? Then the author says, "Basinger planned to turn the town into a tourist draw, complete with film festival, but things didn't quite work out as she planned." also, according to the author, "She was later forced to sell the town at a huge loss due to financial problems of her own." Article also tells us that, "Basinger isn't alone." according to the author, "As an article from MSN points out, many have purchased towns only to see that the dream of "owning their own zip code" turn into a nightmare." also, "It's one thing to be a landlord and have to fix a renter's leaky faucet", according to the article. Then to wrap it up at the end the author says, "It's another to be responsible for an entire town of faucets (and toilets, and electricity, and crime prevention, and, and, and...)".
here is the link to the article: http://news.yahoo.com/blogs/upshot/own-own-town-800k-210019125.html
Thursday, July 28, 2011
Own your own town for $800k
Posted by Karple at 3:55 PM
Labels: Money Talk
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