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Romania property Just like Romania’s overall economy the Romanian property market continues to move in a very positive direction. Join our Romania property forum to discuss all issues to do with real estate investment in Romania such as; accession into the EU, economic growth, falling inflation and falling interest rates.

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Invested in tourism and land - looking for partner

 
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  #1  
Old 09-02-2008, 09:43 AM
element94 element94 is offline
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Join Date: Feb 2008
Posts: 2
Default Invested in tourism and land - looking for partner

Hi everyone,my name is William and i'm new to this forum.
I'd like to share some experience i have and maybe request some help.
We've purchased some land a few years ago at a ski resort named Parang. At the time it was 7 euros/square meter. Now it's close to 30 euros/square meter
Anyway, we've started to build a chalet on it.Nothing too big - 18 rooms, 3 apartments, restaurant , conference room ,etc. Total of 1500 square meters .
We've managed to get a fund from the EU ( through Sapard program ) but it was a nightmare till we got it.So much paper work and so many things they never tell you and you wake up that you don't have them...to cut it short , we managed to build the place,we are almost done.The only thing we are missing is several utilities such as complete kitchen,an extra water reservoir,ecological dump and a few more stuff.
We are looking at a total of around 80,000 euros we still need to finish the place.Land size is almost 13,000 square meters so there's plenty of room to extend and maybe add a SPA center.

The area is also included in the Romanian gov's program called Ski In Romania, to develope the romanian skiable domains.

If someone is interested in our project ( or wants to see pictures of the area and of the Chalet ) and wants some more info please feel free to PM me ( i'm not allowed to post my email yet ) or ask your questions here. I can send you a presentation via email.

Hope i didn't break any forum rules.
Thanks,
William
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  #2  
Old 06-04-2008, 08:30 PM
Goldberg Global Goldberg Global is offline
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Location: Spain
Posts: 675
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William what about the good old bank, that is what it is there for. If you have sunk alot of money of your own money into it, and got a grant as well, surely there is money in your assets.

Start the simpliest way.

Also you omitted the most important thing.

If a private investor was interested, what is in it for them.
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Old 06-04-2008, 08:35 PM
element94 element94 is offline
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Join Date: Feb 2008
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The project has 2 buildings. One of them is already mortgaged so we could put our hands on SAPARD money.The other one is not finished yet and not registered yet .
The problem with the bank is - If you don't have any revenue with your company (which we don't at the moment ) then in most cases they won't even talk to you.
We are trying something out with Banca Transilvania but would really prefer another partner.
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