Did things change or did I just misunderstand...? I thought you were going to buy out the silent partner of Camino Viejo, either instead or together with half of Casa Lago. Together they would have been $107k, so I may not be completely wrong. 🤓 But I understand, if they want cash up front, it may not be such a great idea after all.
Together they were the total. Its just that the bottom one is named very similar to the whole area's name, so there may have been some confusion associated with naming.
The cheaper property is better, prettier and needs less repairs, in fact almost nothing apart from maybe a nice coat of paint. Also I made a deal to pay over time directly with Mr. Daza, who owns it outright.
On the bottom property, there is a silent partner. I think it could still be a good idea, but I am rethinking some things, especially with this crypto crash. They need all the money up front, and the property needs some repairs, although some of which Mr. Daza is already engaging in with the downpayment I gave him on Casa Lago.
I am looking at the next best option, buy the Casa Lago property, and sign a commissioned deal to be able to 'sell' Hotel Camino Viejo without any of the associated costs.
What do you think about all this?
If the Casa Lago doesn't need any repairs (other than a coat of paint) it sounds like the better option, even though it is smaller than the Camino Viejo. The other one would depend on the kind of repair work it needs. I assume that those kind of projects tend to turn out more expensive than initially estimated, so maybe it's best not to drain your liquidity right away. Talking about liquidity, having to pay everything up front in cash would be a deterring factor anyway, even if crypto hadn't crashed right now.
BTW, I remember you mentioned having converted the HDB from the investors into BUSD. Have you also turned it into fiat yet? (Not that it matters too much, since either coin is relatively stable, with only minimal effect of the crash.) Before the crash I was playing with the idea of powering down some HP and turning it into HBD, so I could put into your project even more before the pre-sale ends. But with the current HIVE price (though I'm glad to see it's coming back up slowly) I don't see that happening. Sorry. So I assume things are similar for other potential investors, whether they were going to use their BTC, HIVE, or other non-stable coin for it. And yes, under these circumstances I think it's quite reasonable not to buy into the Camino Viejo.
As for the commissioned deal, does that mean that if you find someone who buys out the silent partner, you'll get a percentage?