Roadblocks Hampering Las Vegas Condo Projects ...Continued
...continued from the previous post
When the time comes to finally pay up non-refundable deposits comes a lot of investors back out looking for the most lucrative condo to invest their money in.
Developers need to raise a lot of cash to get permits, zoning and planning approvals, architectural and engineering designs, plans etc all of which need hard cash that developers lack. Then there is need to market the condos. With so much competition unless the developer really pushes his condos to the public he is not likely to make many sales.
Institutional investors provide only about 75 percent of the cash and that too after pursuing every single aspect of the project and finding that it meets all their requirements.
All these are proving to be real speed-breakers in the road to the development of condo projects.
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