Hello BP Family!
I am trying to take down a 100K 5 lot undeveloped land deal. The location appreciation and value are there. Definitely an awesome opportunity for land banking. My question for you is; if I have 15k how can I get to the 100k needed to take this deal down.
One way is to see if the owner is willing to carry back a note. It is very common in Belize.
Otherwise you will have to bring in partners very likely as banks in Belize do not seem to be readily willing to lend on spec on land.
We just finished another syndication in a project in Belize and I will tell you for me to get investors comfortable with the notion of buying internationally we had to have an air-tight business plan and investment thesis.
Where your land is, is one of the most important factors in your project from my vantage point. There is land that is still a bargain that is in the path of progress, and there is other land that has no water, sewer or electricity and they won't for a very long time.
If you don't mind me asking, where in the country is this land located?
Eric Tait, Vernonville Asset Management | 1‑877‑668‑3311 | http://www.vernonville.com
@Eric Tait the property is in ambergris caye north of San Pedro.
@Ajay Williams , I think it depends on how far from San Pedro it is and how close to the beach.
I know there are lots offered for 10K some miles north, that are only accessible by boat right now, with speculation that Mexico will build a road .
North of San Pedro in Ambergris Caye can be VERY difficult to get to. I stayed at a resort in northern Ambergris Caye a couple years ago and we had to take a boat in and out. Is this White Sands Cove? #Belize
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!