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SAN MIQUEL DE ALLENDE SMA, MEXICO
Offering short link
Raise Details
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Gross Offering$749,000 USD
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Available Units0.00
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Minimum Investment$10,000 USD
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Maximum Investment$749,000 USD
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Open DateMay 01,2020
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Closing DateMay 14,2020
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Investment TypeFirst Mortgage
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Maturity24 months
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Real Estate UseRetail
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Maturity End DateMay 14,2022
Type
| Type | Number of Units | Available Units | Cost per Unit | Gross Offering | Annual Yield | Term |
|---|---|---|---|---|---|---|
| Series B | 7.68 | 0.00 | $50,000.00 USD | $384,000.00 USD | 12.00% | 24 months |
| SeriesB | 7.30 | 0.00 | $50,000.00 USD | $365,000.00 USD | 12.00% | 24 months |
| Totals | 14.98 | 0.00 | $749,000.00 USD |
Executive Summary
Overview. Chesterfield Faring, Ltd. (“CFL”) formed MexiCap, Ltd. (the “Lender”) to make low risk, high yield first mortgage loans (“Loans”) in San Miguel De Allende in Mexico (“SMA”). To date, the Lender made seven (7) loans totaling an investment of $511,104 (the “Cost”) and the payoff at $580,000 (“Payoff”) for a net profit of $69,696 or 14.83% after promote. The investors receive a 12.0% preferred annual return plus 50.0% of the net profits. CFL has $200,677 invested in the Lender to date or 38% of the Cost to date. The Opportunity. There is little first mortgage financing available in SMA. Thus, demand currently appears as an unlimited and unparalleled opportunity for investors to make low risk first mortgage loan s (30% Loan to Value) at 12.0% plus high yield loans. To mitigate risk, the Lender employs the best legal counsel in the region and is often a guest lecturer on legal affairs in the area. Foreclosures typically take 3 to 6 months in the local courts. If the Loan in question is not extended, then the Lender will take title and lease back to the borrower paying a high current yield.
Series B Offering. This next round of the Series B units (“Series B”) totals $500,000 selling ten (10) $50,000 units. Half Series B units are available. The Series B provides a twelve percent (12.0%) annual return, typically prepaid interest for one (1) year. The terms are the same as the Series A except the Series B purchaser receive half of the common equity that the Series A received of the Lender. Of the Series B, $211, 104 has been funded with $288,096 available. Any odd number will be purchased by CFL
Highlights
- Prime Location
- Risk mitigated
- Full Occupancy
- Positive Sponsor Profile
Comments
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