Replies to post #129098 on Kraig Biocraft Laboratories Inc (KBLB)

[TheOcho]

It was also discussed on this board. It's probably a lot easier for Kim to get a mortgage on a cheap investment property then kraig labs. The company is not profitable. No regular bank is going to give the company a loan to buy property.

[igotthemojo]

"I don't rent land in Texas, but I'm pretty sure renting 15 acres for about ~$960 a month isn't exactly price gouging."

I don't rent property in texas either but I do have access to the internet..i was surprised at what I found..

sounds like kim may not have paid as much as some think for that property..
and the rent kblb is paying him is actually high...or very high

"The more I think about it, the more it seems like the smart decision for Kim to buy and then rent to the company."

oh yea.. ill bet it is..

[fastlane]

I rent out land in northern Minnesota for about $40 an acre PER YEAR. Now we only have one growing season here and I believe they have 3. So say $120 an acre per year would be fine. That’s $1800 a year. If we are paying $900+ a month that has to be including the house. Which is fine if the company uses the house for something. Otherwise I would say it’s pretty high. JMHO.