I’am trying to find money for purchasing beachfront property in Mexico’s Yucatan. Purchase price is $1.65 ml. for over 2 km of beachfront property plus and additional 2000 acers of back land. I can put 30% down. The land is easily worth 10 times the purchase price. 20% of the property can be subdivied into 20 ml building lots and sold off to cover the $1.65 ml purchase price note. I need a commitment now and funding in 30 days or less.
If you know of a way to do this let me know.
thanks
jb
3-8-06
JB,
You have many options available. This should not be a problem. Do you already have a contract?
Actually this is a tough one to fund. Most hard money lenders in Mexico will only lend 50% LTV. Of course they will want a commercial appraisal and you will incur these up front costs. You may be lucky to find one who falls in love with the project may lend more. I know of someone willing to go 65% because the subdivision is almost done and he wants the take out and construction loans to the American buyers.
Buena suerte
I was about to respond then I saw this thread is over a year old :shocked
This one is on seista…