Michael Yardney/Question



From: Donna Larcos

How do your armchair investors go
getting loans to take part? Are the banks
reluctant to lend 100% to each investor
when the final product is untested?
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Reply: 1
From: Michael Yardney

This is not the correct forum to discuss details of our program, as it is very detailed. For example we have a 30 page joint venture agreement between the various co developers to protect them. You can email me directly if you have any specific questions.
To answer you very briefly the co-developers need some equity to get involved, such as in their homes or other investment properties. We them assist them by going to the bank with them for development finance. The banks are prepared to lend because of the amount of detailed documentation we provide including comprehensive feasibility analyses, budgets, plans builders quotes comparable sales etc. So it is not really an unknown or untested product. I guess they also rely on our track record of over 20 years and $50million worth of projects.
I hope this helps a little. Michael Yardney
Metropole Properties
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