Joe Leicht
Santa Ana, CA (USA)
Role(s):
Keystone Resort Properties
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Startup
Location:
Santa Ana
Industry:
Real Estate
Year Founded:
2005
Number Employees:
INVALID
Description:
We have started a company for the express purpose of purchasing a golf resort. The sale will include 13 existing time share villas, with 72 units avaialable for sale, approximate market value of $5 million. Also, there is a golf course and clubhouse facility already open and operating, and entitled land for the development of a 200+ room hotel, and 59 more time share units. We are looking for approximately $10 million in cash to purchase the resort out of bankruptcy, and will immediately refinance with GE Capital (loan in process now). We estimate we will be able to acquire a loan for approximately $5-$8 million, and $5 million will be paid back to the "Angel" investor immediately. The remaining balance will be repaid over the next 3 years (maximum) as we sell existing inventory. Developme