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- Dec 6, 2020
- 43
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Hi Guys,
so I'm from Croatia and I run a small family hotel in Murter. In front of the hotel, there is land for sale and I want to buy it. The price is 300.000,00 EURO. For 1000m2. In building zone with permits.
I would build an apartment building with 6 apartments and rent it.
I can't get a loan from the bank because my paycheck is small and all that.
One option is to open an LLC for that project (the total value of the project is around 1 million EURO), I would offer collateral that I have, which is worth 2-3 million EURO, but I would still need 200k EURO of my own money, which I don't have. - this is the information from my friend that works in a small bank.
What are my other options?
so I'm from Croatia and I run a small family hotel in Murter. In front of the hotel, there is land for sale and I want to buy it. The price is 300.000,00 EURO. For 1000m2. In building zone with permits.
I would build an apartment building with 6 apartments and rent it.
I can't get a loan from the bank because my paycheck is small and all that.
One option is to open an LLC for that project (the total value of the project is around 1 million EURO), I would offer collateral that I have, which is worth 2-3 million EURO, but I would still need 200k EURO of my own money, which I don't have. - this is the information from my friend that works in a small bank.
What are my other options?
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