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Tuesday, January 02, 2007

Investments

Please someone, find me an investment like this:

BRINY BREEZES, Fla. - The owners of nearly 500 mobile homes in one of the last waterfront trailer-park towns in South Florida stand to become instant millionaires if they agree to sell to a developer. But some are holding out, saying there are things more important than money.

"You just can't buy a way of life," said Tom Byrne, a 68-year-old retired sales executive from New York who doesn't want to sell even though he would make a little over $1 million on the trailer and site he bought two years ago for $150,000. "This is my home."

By the way, don't believe for a moment that Tom Byrne isn't prepared to sell. He's from New York. New Yorkers know that there's a right price for everything. He's just holding out for a better deal -- say $2 million.

At one million, the rate of return on investment is 158.2% compounded annually. At two million, it would be 265.1%.

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