Now that was a home run for American Property Enterprises, while the article didn’t disclose the exact purchase prices other than the recent sale, I ran the gis and looked at the taxes, it’s three lots totaling 21 acres, one was 5.5 million, one 4.5 million and the third 2.5 million so lets see, APE buys it in 2003 for probably 4 or 5 mil, sells it to pulte for 12.5 mil, pulte grades it, has utils put in and sells it back to APE for 3 mil. So they end up with the property for free and a couple million for their trouble. How do invest with these guys?
