FINANCING FOR FOREIGN CONDO PROJECT - Posted by ED

Posted by omar on August 19, 2003 at 11:34:10:

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484-995-9608

FINANCING FOR FOREIGN CONDO PROJECT - Posted by ED

Posted by ED on August 08, 2003 at 12:04:00:

Hello and Good Morning,

This one is a bit unusual, but I was told It can be done so here it is.

My partner and I are planning to build a condominium project overseas. We are looking at constructing 25 buildings with each building containing 4 stories/flats (apartments).

We plan to proceed in 5 phases.

In PHASE 1, we will construct 5 buildings, each building containing 4 stories/ flats (better known as apartments in the USA). This will yield a total of 20 flats/apartments. We will sell these off, and pay off the loans. We will then proceed to the next phase.

In PHASE 2, we will construct another set of 5 buildings, each building containing 4 stories/ flats (better known as apartments in the USA). This will yield a total of 20 flats/apartments. We will sell them off also, and pay off the loans. We will then proceed to the next phase.

And so on until we complete a total of 25 buildings of 4 flats/apartments each for a total of 100 units. The idea is to construct a kind of self contained, secure gated community.

We have already procured land for this project. We are now looking for the contruction loan to begin. We will need a loan for each phase that will be paid back upon completion of each phase, and sell off of the units. After the loan for each phase is paid back, we will then need a new loan for the next phase.

Since this project will be taking place overseas (not in Europe), is there any financier that can provide the loan for this project. What will they require. We have already acquired the land going into the deal. What sort of guarantess will they need. Is this even doable ?

The market is certainly there for this project. Our feasibility studies show that the units will be gobbled up faster than we can build them, with a nice profit left for all parties.

Can someone finance this deal. If anyone knows of a financing source that will do deals of this nature please let me know

Thanks

ED
Parkle Development Inc.