Capt M
You're correct the USD 180,000 can be mostly in the form of a mortgage if desired. Typically the mortgage would be 70% of the purchase price or in this case $126,000. The 5-10% ROI would be based on the $54,000 downpayment and is after debt service and maintenance fees. The maintenance fees are a little higher in our development than in a lot of condo projects as ours is also a Resort with 2 restaurants, fitness center, lobby, dive shop,maid service, internet cafe, licquor store, lite tennis court, etc. to name of a few of the amenities. This greatly enhances the rentability of the owner's unit.
In certain cases mortgages can be 80 to even 85% of the purchase price and will generally be looked at on an individual basis.
Currently we have on a limited basis for our members a change to #2 of the Payment Schedule. We are taking small deposits to hold various units at pre-construction prices until we begin construction for Block "B" in Phase II ( we are already 1/2 way through the construction of Block "A" in Phase II). This building will consist of studio, 1, 2, & 3 bedroom oceanfront fee simple units. Approximately 12 - 15 units will be available at these prices and deposits.
For Example:
1) Studio US $2000.00
2) 1 bdrm US $3000.00
3) 2 bdrm US $5000.00
This offer won't last very long and is internal pricing. When we begin construction all unit pricing will go up approximately 7-10% across the board depending on location, floor, size etc., giving those who put down their deposit early a good equity early on which can be utilized for mortgages etc.