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Builder / Developer Ecuadorian huge new LAW
Hot off my resource’s press. Maybe you professionals have been monitoring this moving through the legislative python. It goes directly to Domenick’s tutorial of how Ecuadorian project developers build as they collect cash from customers. Shoestring builders ?
No mas ! They will have to have their cash / financing for the development up front or fully lined up before they can legally break ground and pre-sell.
Any predictions as to whether Builders’ current screams about this going to create a shortage of builders and allow current real estate rocket higher ? It seems that banks will be facing a paradigm shift themselves, finally hitching their money to only the best building stars out there with strong plans and pro-formas illustrating viable projects and taking in the new customers’ cash, rather than letting the builders touch customer cash.
Welcome to the 20th Century Ecuador ! (not to mention the 21st)
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