Hello,
These are the scant details of an investment that I am looking into:
PERU, LIMA, CHACARILLA 1,450 SQM CORNER BLOCK
The developer that the owner's are in negotiations with has offered to do an 18 apartment development and to give the owner's 2 units and 300k.
I'm thinking of doing the deal myself. I have read all of Steve's books and I have been to two of his seminars. How hard can it be?
Does anyone have any advice or suggestions about developing in this country? Apparently there is no shortage of local investors.
Kind regards,
Rhys
Where do you fit into the deal? The owner is dealing directly with the developer, what is your role?
How hard can it be?
Sorry i had to chuckle when i read this statement.
Do you honestly have any understanding of the mechanism of development in a foreign country.
Of financing of dealing with tradesman, builders, Local Councils, corrupt Governments etc etc etc.May mattnz is correct are you sure you are not a middle man looking for a cut somewhere.
Richard Taylor | Australia's leading private lender
My concern is who is going to be renting these properties? My understanding of Peru (from ex-husband who is Peruvian) is that it is a country that has a lot of corrupt people in government and positions of power as well as many, many poor people who are unlikely to be able to pay a rent that will allow you to make a profit on your investment. Also as most peopl know it is hard enough dealing with tradesmen in Australia trying to coordinate everyone to get the job finished on time and on budget. Do you speak Spanish? How are you going to communicate with the people invovled in this development, how much control would you have in the whole process? I wouldn't touch this 'deal' with a barge pole.
Sorry to dampen your enthusiasm but I can't see this as a good investment.
Cheers
Sonya
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