1. How much capital is being sought? $460.000 total 2. What is the purpose of the loan? $16,500 deposit, Bal of $316.500 for purchase and $110,000 rehab hard money My name is Carole L Singh, owner of Pioneer Valley Development Company, Inc. I have a Sales Promise Contract for a beautiful waterfront multi building and boat dock property in Puerto Rico.
THIS PROPERTY IS A BOATER'S OR FISHERMANS DREAM ! What is included for your investment? 1/4 ownership of this property
We are offering a unique opportunity to own a piece of a special tropical paradise surrounded by trees and clear blue water. This is the 1st, 2nd, and 3rd property, of a row of private waterfront houses on the south western coast of Puerto Rico. These types of properties are very seldom in the market and tend to stay in the families from generation to generation. The feeling here is very nice and relaxed, serene.
This will be the perfect spot for a fishing charter business and conversion to condos or time shares due to it's very close proximity to the Ponce borderline, and less than 1 minute from road #2. Just imagine the very beautiful view from your own observation balcony on the roof of your waterfront beach house.
This property includes: The land, The waterfront rights, And following amenities: A large "U" shaped wood dock with 2 - 24' size boat lifts. An "as is" beach house which will be rehabbed. A 4 unit apartment building has outside encapsulates asbestos panels. The interior of the property is asbestos free and needs some sprucing up. A 24' size boat fits perfectly for boat lift use. A beach house right over the water with an open kitchen, dining, living area and 2 bedrooms with bath, waterfront porch and lookout terrace on top towards the water. An additional dock with boat ramp, and several docks for smaller boats
The 1ST property has 450 square meters including the water rights, land has 180 square meters. The 2ND AND 3RD property immediately next has deeded 325 square meters, but with the water rights totals 1,200 square meters. Both properties for a total of approximately 1,650 square meters. I need down payment today...my funding source is dragging her feet and playing games is if she wants me to loose this deal....
Then we will need purchase funding in 90 days of $315,000 for 10% interest for 12 months and rehab funding of $110,000 also payable 10% interest for 12 months with no pre payment penalties. Finally we need to convert all to a single mortgage for 30 years or less at 5% interest as soon as all rehab is finished.
Thank You, Carole Singh
P.S. I have a portfolio of properties that need the exact process of funding as I am requesting here, 4 of which have accepted offers. I have a Powerpoint presentation for details of the purchase and improvements to the property