Ryan Otto Building 50+ Apartments in Central London GDV £30 Million
Hi, my name is (name hidden) and I’m an investor from South Kensington in London.
Ryan Otto and I worked together some time ago and we bought an entire new build development off plan in (address hidden), sometime back in 2005. Ryan Otto and I between us raised £2m in order to secure the entire site off-plan for 50+ separate apartments.
Ryan Otto and his company at the time (name hidden) put the deal and the sales together; I simply put my million in and took a back seat on this particular project.
My fixed return was based on the money I invested, in the region of 20% ROI and an override over and above a benchmark GDV.
In response to your question, is Ryan Otto a millionaire, it’s not really for me to say either way; however, on this particular deal we both put at least a million in of our own monies, would that make us both millionaires then???
I walked away with a significant mid-range 6-figure sum that I’d prefer not to disclose on here.
Based on my return alone, for being an armchair investor, and Ryan Otto holding all of the cards for the purchase, sales, legals, leases, which he retained at the time, and all of the other kickbacks available on a brand new £7m development, I’d assume that Ryan Otto walked away with over a million pounds from this deal alone.
So is Ryan Otto a millionaire??? That’s not really for me to say; however, if you look at this site in central London, (website hidden) rumours have suggested that Ryan Otto and his team are currently building 50+ apartments in central London with an estimated GDV of £30 million.