The Way Capital Ventures
Caribbean Hotels/Resorts
TWC has teamed up with a Las Vegas developer (OTP Development) who has over 25 years in banking at U.S. Bank and Wells Fargo. OTP's strategic alliance is a developer who has 38 years experience in sales, acquisitions, new construction and securing land for hotels around the world. He is one of the leading authorities (actually top five in the country ) in securing flagship hotels for new construction and acquisition of existing hotel properties.
We are looking for strategic partners to secure more properties in the Caribbean. This hopefully will help you see if there is a fit here and the possibility of a partnership. We can work together and get more properties that are fully vetted by our team already on the ground for a fraction of what you may be used to spending on property acquistions.
ROADMAP
1. Identify properties - We are primarily focused on the most recovered and growing markets in the current environment, especially with the world wide anomaly that shook all markets in 2020. With current numbers and trends, we have focused on several countries in the Carribean to begin with. In each of those countries we have aligned with local teams to coordinate with our existing US team to acquire properties that are either currently operating with a very positive P&L, and those with development potential in highly profitable areas that are underserved.
2. Our development team will travel to the Caribbean with our engineers to survey each property. Primarily the structural integrity of the building, wiring, plumbing, and building conditions as it relates to current building standards, especially as it relates to hurricane readiness. We will coordinate with local development teams so as to have a clear understanding of current availability for building resources and local manpower as it relates to the different properties and their locations in each country. We have the ability to live stream the inspection so the principles can follow the inspection, if desired.
3. Those that pass that phase, will then have their P&L for the property audited thoroughly. P&L audit will happen within our US team, and that information will be available to any joint venture partners for their own audit process.
4. Once property/ properties have been identified and pass inspection we then submit any and all properties to the insurance company that will add each project to the insurance policy which, in turn, will guarantee our investors principle. We will then have our US Spanish / French speaking real estate team prepare documents for the purchase of the property in coordination with our Carribean team according to local laws and requirements as required in each local country.
5.. As a direct result of our relationships here in Las Vegas we have some of the top resort developers and architects to facilitate a renovation of the property. We would have our team travel to the Caribbean and look at the existing property and give quotes for the renovation project. This will be added into the loan as well as insurance wrap.
6.. Complete rolling insurance wrap that will allow us to rotate several projects into the insurance wrap every 12-18 months. This allows you to do several projects over the course of a few years at a fraction of the cost. For $2-3 million for an insurance guarantee on a $50-$100 million dollar project, with debt financing tied directly to the insurance policy, we would be able to acquire a family of resort/casinos, with a fraction of the out of pocket costs, of one. (Actual costs of wrap depend on the size and age of the property, as well as the total guarantee required.)
7.. Our Lender offers the following:
• No risk assessment
• 100 LTV minus interest reserve
• No 30-day due diligence on the project as 90% of the deal is based on the insurance investment guarantee instrument
• No bank fees
• Nothing needed in escrow
• Very competitive and fixed Interest rate (dictated by credit worthiness of the insurance company)
• No realistic maximum
• Loan is non-recourse to borrower and project (lender calls on the bankable guarantee, not the project)
• Funding time-line of 5 days after final docs ( 2 to 6 week closing, depending on the time commitment from attorneys and bankers)
• No post funding reporting
• No oversight (audits, frequent reviews, board representation)
• No covenants and reporting to credit agencies
• Ability to defer principal and interest to let the project make money
This is all done for a fraction of the cost of what you are currently spending on property acquisition now. Plus you would still keep a majority equity position in the project.
8. Our team in Florida specializes in construction (OCIPs and Builder Risk) in the Caribbean. They also make sure renovations are completed within one hurricane season in order to save on cost.
9. Under this platform we put you in a Win-Win opportunity to receive residual income on several properties with zero required ongoing efforts on your part.
10. We also have the ability to do new construction from the ground up with a globally recognized top developer flagship that is currently finishing another project which will compete with LiveNation, which would set us up to have top 100 billboard artists performing at the resort thanks to our strategic alliance with this developer. Once we have NCNDA signed we can discuss this in more detail.
11. Our current focus is the Caribbean, then we will shift to Europe, the Middle East and eventually Asia once things die down there with China. The Caribbean is the hot spot right now and we have opportunities for the right partners to build a massive conglomerate and portfolio of properties around the world. We are paying close attention to tourism numbers, evolving travel requirements, and spending habits all of which dictate our timelines for expansion into other territories. Current habits, especially those in the last 6 months, are the primary reason we are starting in the Carribean. As other markets show favorable increase in tourism and growth, we will begin searching for properties in that market that will yield consistent results as well.
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