Hello All,
I am a real estate developer offering high ROI to investors that want to make some cash, not have their name tied to a unit, no credit checks, no loans on your part.
My Mexican company has beach front land on the Mexican Caribbean within walking distance of a cruise ship port (Puerto Costa Maya). The build area has been cleared and its right off of the main highway. Up to 12,000 cruise ship visitors exit this port for the entire day.
I'm building a mixed use center with SCUBA, boutique shops, bar, restaurant, beach club on the lower level, and condos above and adjacent to the center.
Revenues will be generated from all of the above, and the beach club will collect $3-5 per person for them to use the beach and have a lounge chair. We will also be contracted with the cruise lines and offer "beach break" and SCUBA packages.
The condos and shops will be for sale. I already have an investment club that will contract 30% of the units and pay 10% down. They want 15% of the final sales price, less 6% Realtor fees.
Due to new laws regarding eco studies for the trees, coral reef, people pollution and its affect on the environment, etc., we are in need of additional funding, which cannot be included in the construction loan. As soon as these are completed, we can begin offering pre-sales of our units.
Pre-sales in Mexico used to work like this:
10% down to hold unit = $37,500
10% down upon signing of contract = $37,500
10% down when slab is poured = $37,500
Total of $112,500, which we are allowed to use to pay for the construction. It is not held in escrow, so the deposits would almost pay our entire build cost.
Even better, some banks (non-US based) are now offering to pay the builder draws throughout construction and only require the buyer to put down 10-20%. The builder gets paid for the unit before its even done!
The key to this deal is just getting to the pre-sale point.
This is an exceptional investment for someone that wants to be hands off, and its a very viable project, even in this economy with all the different enticements for visitors and various streams of revenue.
ROI will be based upon your percentage of the profits, according to your apportioned investment amount.
Average cost to build a 1,600 sqft condo, with land, 15% overage budget, landscaping, etc. is calculated at $140,000.
Pre-sale prices are slated at $375,000, less 6% Realtor commission. Retail sq footage is slated to sell for $300 sq.ft.
$235,000 potential profit per unit and possibly no construction loan depending upon buyer's financing, etc.
We've been quoted 7-10% on a construction loan for this project.
You may visit our website for more info, or send me a message.
