A real estate firm bought about 7 hectares of land in a developing part of the city for housing unit development, due to lack of funds to fully developed the 7 hectares, they decided to develop it in 3 phases.
Now after more than 15 year they could only develop phase one, presently, encroachers have taken over the other part of the land and they are unable to chase them out.
They are now caught between the dilemma of selling the undeveloped part at a very bid down price or continue to deal with the encroachers until when they have money to develop further.
What would your advise be??
If one fails in a real estate business, the only thing he can do is to learn from mistakes made. Before you go into a real estate investment, you should know all it entails to avoid losing.A real estate firm bought about 7 hectares of land in a developing part of the city for housing unit development, due to lack of funds to fully developed the 7 hectares, they decided to develop it in 3 phases.
Now after more than 15 year they could only develop phase one, presently, encroachers have taken over the other part of the land and they are unable to chase them out.
They are now caught between the dilemma of selling the undeveloped part at a very bid down price or continue to deal with the encroachers until when they have money to develop further.
What would your advise be??