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Q: Banks ( No Answer,   1 Comment )
Question  
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.
Answer  
There is no answer at this time.

Comments  
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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