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Subject:
Banks
Category: Business and Money > Small Businesses Asked by: brothr-ga List Price: $40.00 |
Posted:
08 Oct 2005 14:33 PDT
Expires: 07 Nov 2005 13:33 PST Question ID: 577981 |
I am interested in buying land and building houses. The concept is to rent the homes to US civilians and military personnel. The area is located near an Air Force base, the base is realigning and preparations are on going to increase their personnel strength. . The location is Germany and I would need 2 million dollars. I am asking for a list of US and international banks that provide loans to a normal Joe like me so that I can invest in land and homes overseas. |
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There is no answer at this time. |
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Subject:
Re: Banks
From: myoarin-ga on 08 Oct 2005 16:31 PDT |
Brothr, How close are you to the German real estate and construction market? Do you think that you can compete with the locals? It is no secret that the military Rhine-Main facility in Frankfurt is being closed and where the traffic will move to. Financing of real estate and development secured by mortgages is something banks leave to the local competition. Theoretically, foreign banks could do it, but it just isn't worth the effort to assure themselves that they understand the market and foreign exchange risks, much less, to convince senior mgmt that it is a good idea. On the other hand, the local banks will want familiarity with the borrower to be able to recognize his creditworthiness (beyond the mortgage) and his experience to handle the project. "Well, who are you?" you may rightly ask. I'm an American living in Germany with 20 years here in banking. Sorry to sound like such a wet blanket, but that is the way I see it. Myoarin |
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