Businessman Thinks Ky. Owes Him More For Property
"I paid $130,000 for that property with nothing on it nearly 30 years ago," he said. "But I had added buildings, concrete and a gravel fill four feet deep. They wanted me to take $144,000 for everything. They didn't even want to pay for my fence and the materials alone cost $50,000."
Falloway said he looked for property to move his business to but couldn't find anything he could afford. "We found 3.5 acres about a mile away, but they want $200,000 for it and there's nothing on it," Ronnie Falloway said. "I told them: 'Buy me some property to get me back in business'" Danny Falloway said. "But they just laughed at me." Falloway said the state "got a court order last spring that gave me 60 days to clear it off. I had almost 2,000 vehicles in there. I had to sell them off so quick, I got $100,000 for cars that should have brought half a million." To start another salvage yard, he'd have to restock with cars. "It would take me 10 to 15 years to start making money again," Falloway said. "I'd be looking at the better part of half a million dollars to start over somewhere else. And I'm 63."- Loading Comments...
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