All Forum Posts by: Gerald Broussard

I live 4 hours west of 30A. I am working with a real estate agent local to 30A.

Thanks for your reply! Yes, we were initially told by the bank we would be able to take the loan out without a guarantor and the reverse decision is unfortunate. My wife is an attorney with corporate banking experience. We have numerous rental properties and beach condo under an LLC, but we have not developed land from the ground up. We understand we would have to make this an exceptionally enticing deal for a guarantor.

That being said, I am personally extremely confident in this project and the in the experienced team we put together. We have architectural and  structural renderings in place, completed pro forma and building plans from most experienced and respected builder group in the 30A area, development orders issued by the county, and profit projections with a very wide profit margin cushion even if there is an unexpected market downturn.  

I am under contract for a piece of beach area property along the 30A highway in Florida that is approved by the County for building four villas on. Despite being a high income earning physician, the bank is requiring that I have one additional investor to act as a limited guarantor for half the loan. I have already gone through friends and acquaintances but those who may be capable are not familiar with the area or real estate in general. Are there any forums or groups that would be good to go to for finding a co-investor(s)?

I am under contract for a piece of beach area property along the 30A highway in Florida that is approved by the County for building four villas on. Despite being a high income earner, the bank is requiring that I have one additional investor to act as a limited guarantor for half the loan. I have already gone through friends and acquaintances but those who may be capable are not familiar with the area or real estate in general. Are there any forums or groups that would be good to go to for finding a co-investor(s)?