Shoaib,
If you want to get a loan on that property, you really, _really_ have
to have a good credit history, and enough equity going in to cover
about 95% of any loan.
Any reputable banking institution in the world won't finance your
purchase of that property without your proving you don't really need
to borrow the money. It is fact, times are tough, and no one wants to
speculate on resort property in South America unless they won't lose
anything in doing so.
That means you have to have an A+ credit history and from your
repeated attempts at looking for financing, it is pretty obvious you
do not.
It is nice to have a dream, it is better to have a realistic dream. If
you want to purchase this property, you need to find a better way.
You would have a better chance taking a well-written business /
marketing / profit projection, including demographics and projections,
to venture capitalists who might be interested.
Without that kind of documentation, no one is interested in investing
in a South American resort without the kind of guarantees you cannot
offer.
Good luck,
ElCon |
