Wednesday, October 19, 2022 12:13:37 PM
Nerdland doesn't only have the cost to acquire the land, they also need a great deal of capital to develop the site and execute on the business model.
By creating a payment timeline, they create a win-win for both parties.
I wouldn't focus on not receiving "all the cash" at closing. I'm more focused on the that fact that as developers we say, "they got the sunk off the boat". Meaning finding a KEY user to be the first one to step up and put some money into this new world, at FULL PRICE is extremely difficult for ANYONE to do.
What is also noteworthy here is, the company just landed their first "comp" to show the auditors how to book the reminding lots. The key focus for Louis and John (which they are working on) is to bring in a team that helps them move more lots IMO.
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