Looking for a Capital Partner or Equity Investor

[volco]

As some of you might know I'm eventually migrating to the States - but not before completing a project I've been stalling for a while now: I own some beachfront parcels or lots in Punta del Este, Uruguay. I want to develop them.

Before I continue I must clarify that Uruguay is an unofficial, unrecognized tax haven with a level of Banking privacy that would shame Switzerland's. Property Rights are indeed well protected. Maybe that's the reason every frotune made in Argentina or Brazil, and lately in Europe, is depositted in Uruguay instead of their looting homelands. Don't be fooled by the current "leftist" regime. Democrats are more to the left than the Frente Amplio.

Punta del Este, Uruguay - by any decent standards, is the best place in South America. A town that is dubbed by the press a "Celebration of Money", and where the $ sign is proudly displayed in flower arranged gardens. Best of all, there's no "social resentment". A Kiwi realtor I know puts it this way: "Punta is the only place I know of where a Mercedes can bump into a horse-cart and both riders would curteously greet each other with a smile" . I'm not living there only because it's a seasonal resort and I have all my life ahead of me, meaning that America is the only way to go.

Ok, Here it goes:

I want to build at least one house on one lot and sell it for profit. I am willing to sell some parcels to finance the project myself but would regret doing so because of inminent land appreciation caused by the legal green light for a very special project on inmediate adjacent land.

The parcels I own or control (since some are my family's) are located -34° 52' 30.75", -55° 5' 25.52" in the Bahía Portezuelo area of Punta del Este, some of them overlooking the sea, others deep inside the pine forest, and others overlooking a simply beautiful creek. None of them are more than half a mile from the sea. The site counts with drinking water, electricity, broadband internet, and every other utility, but lacks gas piping - a non issue considering the prompt propane delivery services.

For the sake of honesty I'll present the one issue which I consider a personal detriment, but it's not necessarily a commercial one: the beach is a naturist beach. Although it might not stay that way for long because of the aforementioned reasons.

The area is populated and owned by mainly Europeans, a lot of Dutchs and Spaniards, some Brazilians, Greeks, Brits and Germans in addition to the ever present Argies. There are some Americans but we could surely use some many more!

My family has strong (3rd generation) community ties and so I've known the contractor we'll use for all my life, just as I do with the architect that would sign the blueprints and control structural issues.

We have a plethora of possibilities:

A minimum investment (under 20K USD) would entail building one small house and selling it right away, guaranteeing a 200% return min.

A better investment would involve building the house, renting it for a couple of summers, and just then selling it at a profit.

An ideal investment would be to erect a condominium on 4 consecutive parcels, fit it, and sell it as an operating apart-hotel.

The more investors, the bigger the project and the smaller the requiered investment.

Well, that's about it. I am also the connection for the bigger project on adjacent land but that's on a completely different league.

While I'm also looking elsewhere, I'd rather to do this with another Objectivist/s since I consider trust the foundation of any common venture.

The investment structure is yet to be outlined. I'd prefer it to be an equity investment where I'd hold the controlling interest, but it's not a prerequisite and could not be possible on a bigger scale.

While I'll be looking to pool as much capital as possible, and everyone will have a say proportional to his/her investment, there will be no "design by committee" whatsoever in this project.

Not all of them, but at least one investor would have to travel down here. I can provide confortable accommodation in Montevideo and Punta del Este but you'll have to pay for the plane tickets

So, if you're seriously interested or at least seriously intrigued by this endeavour I'll be expecting your mail at [email protected]

If you're an investment banker and would like to know more about the adjacent megaproject, also contact me and I'll redirect you to the appropiate board.

Edited June 21, 2008 by volco