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Financing South Beach

Posted By: Don Greife

Financing South Beach - 10/01/08 04:11 PM

I went to see the banker yesturday and asked about buying a property on AC. He did everthing but laugh in my face. He really wanted to say, "Have you lost your mind"? He finally did say he would make a portfolio loan but I would not like the rate. Kinda makes one wonder if the principals at South Beach are looking at the same problem and if they will postpone things till the market gets on level groung again. " "
Posted By: reaper

Re: Financing South Beach - 10/02/08 12:21 AM

Don, Was your banker in the US or in Belize? I assume you were in the US.
Posted By: Don Greife

Re: Financing South Beach - 10/02/08 04:22 AM

I was in the US. Word is that mortgage rates in BZ are about 12%. Any truth to that?
Posted By: Peter Jones

Re: Financing South Beach - 10/02/08 04:27 AM

They were between 12% and 16% depending on various factors. Goodness knows what they are now.
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