Okay OP, allow me to lay it out for you buddy. These are my opinions and recommendations, but as I say you might need to try out a couple of different theories to see which one works for your body, desires, etc. But if I were YOU, this is what I would do:
To begin, I would forgot about the concept of reducing "belly fat" right now because your body is too overweight with too high of a fat percentage. I believe that in order to "show muscle" you have to be at a solid bodily base in order to do so. That means having low enough fat and having your weight in a generic proper "range" so that you can then lay into the weightlifting aspects so the muscles can tear down, repair, and grow larger, and you would be at the bodily base to SEE the muscles.
So, what would I do?
1.) The First 60 Days
* Only cardio, no weightlifting.
* Let the cardio be at least 25 - 30 minutes and I want Zone Training, and I want it 5 days per week in the morning on as little food as possible (empty stomach). I need Zone Training, not walking. Get on the Stairmaster, Treadmill, LifeCycle, or Bikes and just program it for Zone Training. I would use the LifeCycle. Get you an MP3 with some good, kick a.ss music that you love and that makes you want to take down the world. Listen to that shyt while you workout and you will FORGET you are working out, and will instead be focused on kicking a.ss.
* I want the eating plan to the point where you are consuming no more than 2,500 calories per day, I prefer the range of 2,000 - 2,300. And I would use intermittent fasting rather than the "eat a small meal every 3 hours rule". I would eat a moderate meal every 6 - 8 hours, the meal should have a baked meat source, veggie source, and fruit source, with at least 40 oz of water. Also one meal can just be a protein shake. Try to lay off a lot of BREAD, matter of fact, just eliminate BREAD.
* Get some supplements but they should only be the protein shake, a good men's multi-vitamin, omega 3 fish oil and green tea extract. I use ON Whey Gold Standard, Opti Men's Multi, Nature Made Fish Oil, and BB.com's Green Tea Extract. The Green Tea is an excellent tool to help curb food cravings and get you to take control over when you eat food.
* For these 60 days, you are going to do very little cheat meals. You would only do 1 every two weeks, or two a month. When you do a cheat meal, it's just a cheat "meal", it's not a pig out day.
2.) After The First 60 Days
* Your body fat and weight levels in general should have dropped all the way down. Take pictures and post them here to confirm this. You should be at Your Base and now can start laying out building muscle because you would be at the point where you (and the world) can SEE the muscles.
* Now we are going to take the Cardio sessions down to 3 days a week, still at Zone Training with 25 minutes per session. When you do the Cardio sessions, add in now doing Ab Exercises but try to focus on doing Ab Exercises that have a "weight" component tied to them. So it could be the Ab Curl machine at the gym, it could be doing leg lifts but having weights tied around the ankles, etc.
* You are going to also add in 3 muscle building sessions per week where you hit of course Chest, Biceps, Triceps, Shoulders, Back and Legs. Depending on your schedule, you might do "two-a-days" where you would do a Cardio session in the morning and then do the muscle building session later in the evening.
* Keep the eating plan and supplements the same, but you can add in one cheat meal a week now rather than just one cheat meal every two weeks.
3.) After Those 60 Days
Take another slide show, you should look totally different and have somewhat of a "leaned" appearance. At that point, you would just stay on the same plan and within another 45 days, you should be at the point where you could start showing some of your shirtless pics off to chicks. Also during this time you can now do 1 cheat meal every 4 or 5 days, which breaks down to (within a monthly cycle) 22 - 24 days where you eat the normal health based eating, and 6 - 8 days where there's a day when you consume a cheat meal. Again, no pig out cheat DAYS, just a moderate cheat meal.
Also note this is a lifestyle change, not a diet. This is not about "losing 10 pounds," or "losing 20 pounds," this is about getting to the body, health and fitness level you SHOULD BE and STAYING THERE.