jeffrey andle
Copper Bank (BLZ)
Role(s):
Founder/Owner/Principal
To be determined
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Startup
Location:
Orlando
Industry:
Real Estate
Year Founded:
2023
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
I am planning and financing a one-off real estate development project of bayfront property in Belize. I intend to invest at least $225K by January 2024 and need to raise $150K to $250K of addition funds through cash flow positive on the project. Either the project will be managed in a Trust owned by my IRA using non-recourse loan financing or the IRA will invest less than 50% into an LLC that I will manage locally.
I have identified reliable local partners and we have a network of reliable contractor and realtors. The parcel I have identified needs minimal fill for roads or lots and has silt/sand beaches with mangrove and palm along the water. The property is at an inflection point due to several socioeconomic catalysts and has seen strong growth over the past few years. The partners and I live full time within a mile of the property - it is 200 feet from my property. I am on a retirement visa and using retirement funds, so I cannot actively work beyond investment decisions and business plans.
The project will acquire land early 2024, subdivide it into up to 10 waterfront and up to 44 water access half-acre lots with a 'raw land' retail value over $2M while the project plan contemplates improvements to lots as sales occur, potentially doubling revenues.
The title and subdivision process in Belize can take up to two years when done right, so any revenues in 2024-2025 will be pre-sales contracts and would occur at a discount or will be late in the year. Revenues through 2026 are not expected to exceed development costs and repayment will occur in the period 2027-2031. The interest rate is to be negotiated, as are residual earnings after repayment is completed.