Mexico Construction Loans

May 8, 2006 11:57 AM

I am a small builder who would like to move my operations to a resort area of Mexico to build for the impending baby boomer migration. I have been having trouble finding reasonable sources for construction loans as most developers either pre-sell their units (time consuming) or use Mexican banks, whose rates are prohibitive. Is anyone familiar with any banks that are lending $3 million dollars or more for residential developments to experienced developers? Thanks!
posted by wormwood to work & money (1 comment total)

I would shop around Orange County and San Diego for REITs and Mortgage Banks that are interested in getting some Mexico exposure. Try to find younger people to talk to, many older real estate people in the area have horror stories about When Their {South, Central} American Project Was Nationalized.
posted by b1tr0t at 12:54 PM on May 8, 2006