Business Plan and Proforma
To participate and profit from the acquisition, development and sale of Luxury and Penthouse Condominium Units in The Ritz-Carlton Residences, managed by The Ritz Carlton Hotel Company, Chicago and Sarasota (the “Property”).
We will put approximately $150K - $200K of upgrades and furnishings into each unit for the development of the Property, to bring the property up to true "Penthouse Readiness". Then, sell the property ASAP.
The Strategy
Immediately after closing, work will commence, with condo renovations at approximately $150,000.00 - $200,000.00 a unit. Thirty days.
Funds Required
To do the entire project, a capital raise of $50M (“Funds”) is required in order to execute this project properly. These funds are sufficient to pay for acquisition, renovation, legal, administrative, and other fees.
The Management
The GP has been in the field of Acquisition and Development for over forty-three years. It started with fifteen units in June 1970, when Apartments were being converted into Condominiums.
The Company acquires outstanding Condominiums and Penthouse Properties, develops them to their fullest potential, then sells to descrimating buyers.
“We work very fast, with the finest Artisans and Craftsmen for the job. We advertise constantly. Most units sell ibefore completion, allowing the custom design of the property to the buyer’s wishes.”
The first project was 336 Wellington, where Dr. Innes bought 15 studio and one bedroom units, industrialized them and rented them to individuals who wanted to buy, but did not have their finances in order. He then helped them get financing and sold them at a respectable mark up. Mr. Innes will also be the on-site project manager for The Penthouses and has personally vetted the project team.
Risks
An investment in the Property should be considered as a medium term investment.
General economic conditions
The United States is currently going through a major economic and real estate shock. We understand the situation. We are at the right place at the right time.
Exit Strategy
The exit strategy is to sell renovated units to The Discriminating Client. Sales funds will be accumulated and Partners paid at the sale of a Condominium. The GP may decide to pay Partners back ahead of schedule, if sufficient units are sold.
Please be advised
The market is constantly adjusting, so these properties are at “Availability”. Please note Sales are in progress. We want to purchase as many Units as possible, and create a Monopoly. When resale does take place, Profit will be approximately $1,000,000.00 a Unit over cost. Value three to four times cost.
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