Investment opportunity of a lifetime! The sellers spent 11 million dollars buying these lots, but life happened and they stopped paying the taxes. Now they need to bail! The land is located outside Albuquerque in Rio Rancho, an up and coming subdivision with a solid growth and commerce, including an IBM campus with exciting plans to expand. With outward pressure from growing ABQ and land prices set to soar, this is the time to invest. There are ~800 acres spread throughout the suburb, mostly 0.5 acre lots but some a little larger. Approximately 1200 lots are held in 3 LLC's. All with good title. Not a lot of utilities or here yet but big plans in the works for water! We have gotten the asking price down to $1.1M. There are $500K in back taxes which is why we are talking $1.6M. We've had people interested in projects like this before for buying and holding, developing, land banks, donating capital assets to charity, etc. 11 million dollars of property! Let's make the dream work! -Gabriel Lee of Land Pact Corporation
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