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Forums » Seeking Financing, Money, or Loans » Advice for hotel project on beach

Advice for hotel project on beach Subscribe to Advice for hotel project on beach

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Ashley Jackson

Real Estate Investor · Corona, California


Forum_avatar_avatar-ashley

Jul 17 '09, 05:46 AM

We're looking for someone who can provide 3.5mil in 15days. This is for 3 vacant lots on the beach in Southern California, which was appraised by the courts at 5.75mil. The owner claimed Chapter 11 BK to protect the lots and is looking to build a hotel on these for 11mil. We can get the 11mil funded in 60days and it will take 2yrs to construct. We obviously can't get the 11mil without them being in 1st position and don't want to lose this deal. Owner would be open to partnership, etc. (Has liquid assets, a good amount of Real Estate, etc but doesn't want to intermingle funds) Please advise on the best course of action.

Edited: 06/26/2010 at 09:00AM




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