| Pages:
1
2
3 |
Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
|
|
| Quote: | Originally posted by elgatoloco
I remember when they had the big pre-construction sale for Trump Baja here in SD. They had a short segment on the evening news showing interviews with
a few purchasers. Mostly real estate agents who had bought two and three units and were gushing about Trump and ocean front and I kept wondering if
any of them had ever been to the site and stood on the bluff and had the oppurtunity to take a deep breath and a close look at what is running into
the water around there. It seemed that people were star struck with the donald and ivanka's midas (not) touch. Just now I did a web search and there
are a few blogs filled with folks looking for legal recourse. It was obvious that a few of them had never been to Baja at all much less Punta Bañda.
Wish them all luck. |
Not only that, it sold out in one day and set a one day real estate sales record for all of Mexico. More money than brains, I guess.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
|
|
|
ElFaro
Nomad
Posts: 231
Registered: 9-16-2007
Member Is Offline
|
|
Can someone explain to me how the development out on Pta. Banda with Tiger Wood's name on it end up any different than the Trump development given the
current Real Estate downturn ???
|
|
|
elgatoloco
Ultra Nomad
Posts: 4332
Registered: 11-19-2002
Location: Yes
Member Is Offline
|
|
| Quote: | Originally posted by ElFaro
Can someone explain to me how the development out on Pta. Banda with Tiger Wood's name on it end up any different than the Trump development given the
current Real Estate downturn ??? |
The PB deal is already fully financed and being spearheaded by reputable folks and being marketed to people who are not concerned with the current
downturn and want the prestige of having a TW venue in their leisure portfolio. The Trump deal not so much. It was a pipe dream - sewer pipe that is.
MAGA
Making Attorneys Get Attorneys
|
|
|
Stickers
Senior Nomad
Posts: 571
Registered: 4-12-2006
Location: SoCal
Member Is Offline
|
|
| Quote: | | And how did these people spend $32 million without ever breaking ground? |
I'll bet Trump got ten million for 'lending' his name and all the others involved took their bonus too. It's profitable isn't it?
So let the chase begin and the lawyers will get richer. 
.
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
No crocodile tears for the Donald......
|
|
|
wilderone
Ultra Nomad
Posts: 3824
Registered: 2-9-2004
Member Is Offline
|
|
"Can someone explain to me how the development out on Pta. Banda with Tiger Wood's name on it end up any different than the Trump development given
the current Real Estate downturn ???"
1. If you read the Entrepreneur article, it is clear that some of the buyers - if not all of them - including the developers - are utterly
star-struck with Tiger Woods. They are "on board" because they are ASSUMING that because Tiger is involved, then the project will be a success.
2. The article clearly states that Tiger gets paid TO DESIGN a golf course, no matter what. So there is absolutely no assurance that $3 million homes
will be built, the golf course will be built, that the entire project as planned - with club houses, guest cottages, etc. will be built and
maintained.
3. Yes, there's some money to be thrown into it, including large deposits, but as the article states, Tiger is getting paid a very large portion of
the working capital up front - before anything is built.
4. The buyers don't know anything about Baja CA. One of the developers made his money in the communications industry. He was brought into this
project because he golfs and has money; The other developer was involved with Horseshoe Bay in Texas - nice homes, private golf course resorts - but
no Mexico experience. But it will take Mexican contractors who will be willing to live in the area, as well as hundreds of skilled Mexican
construction workers - at least a year and a half - to build the homes and other buildings, all the while spending, spending, spending.
5. The logistics of acquiring all the materials for those huge homes, in the quantities that they need, will definitely present a problem - delays at
the very least.
6. The area is environmentally sensitive and the ongoing opposition and the developer's hype will dictate that the project include environmentally
friendly elements - which will increase building costs. How much capital are these willing to throw at it, before they see any return on their money?
Punta Brava is no different than Loreto Bay in this respect.
7. It just doesn't make sense. There will be 44 residences, plus guest houses. Why do they need a guest house when they've already purchased a huge
mansion? How many freakin guests does each buyer have? Are these buyers spending corporate money? I just can't see that these residences are going
to be used very much, if - as reported - a buyer is from Dubai or Florida. There will only be a few residences occupied at once? They're going to
maintain the property and all the amenities for maybe 100 people? The buyers are going to pay for their homes, their guest cottage, the clubhouse
fees, the green fees, etc. year after year after year? If they're buying on speculation, I hope they know they'll NEVER SELL that home to anyone -
they're stuck with it. I will bet that Tiger says he will have a home there simply because it's part of the sales plan and his duty to hype the
project. You can't possibly believe that Tiger will be spending much time there, given he has two small children and quite a full calendar I'm sure.
If buyers think that they're going to helicopter in and say howdy to their neighbor, Tiger, and play a round with him, they've got their heads up
their __.
8. From what I've learned about the developers, they don't seem to have a handle on what it will take to make this a reality. One guy says the Punta
Brava site is a once in a lifetime site. WTF? Only shows you how much he knows about Baja CA. And he picks this site with no beach, and crashing
waves, and Pacific Ocean fog, etc. - and thinks this is just IT. And then says that there's recreation for everyone in the family - surfing, kayaking
and fishing. Like these buyers are going to actually do that or encourage their teenagers (?) yeah, right - to do this. Just doesn't add up.
I hope Tiger thinks twice about what he's doing and comes to the right conclusion - that the project is wrong for this site - and backs away. The
golf course design business is relatively new to him - and it takes more than a superstar's enthusiasm to get $3 million homes built.
|
|
|
Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
|
|
Tiger's done thinking, he got his consulting fees and that deal is done. They'll get halfway through contruction and then the economic reality will
set in. It will sit idle for adecade like every other project in the world right now. Not even the arabs in Dubai are finsihing their "plam tree
island homes". No one is immune from the economic collapse happening worldwide- these guys just don't know it yet. They will very soon as more banks
failand hedge funds rollover and die. No one legit keeps that much money in cash and there is no place safe to keep anything over the $100K FDIC
insured limit. JMHO.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
Woosh- a small glimmer is the fact that FDIC now insures accounts to $250,000. So you can consolidate your accounts now.
|
|
|
Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
|
|
| Quote: | Originally posted by Bajahowodd
Woosh- a small glimmer is the fact that FDIC now insures accounts to $250,000. So you can consolidate your accounts now. |
 Thanks,
you are of course correct. That's a problem I don't have to worry about.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
Sadly, me neither.
|
|
|
fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
Member Is Offline
|
|
Sooo boring!
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
Fishbuck is becoming a troll.
|
|
|
fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
Member Is Offline
|
|
No, it was boring.
| Quote: | Originally posted by Bajahowodd
Fishbuck is becoming a troll. |
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
|
|
|
CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
|
|
| Quote: | Originally posted by Bajahowodd
Fishbuck is becoming a troll. |
You just
figured that out
What took you so long
CaboRon
|
|
|
Bajafun777
Super Nomad
Posts: 1103
Registered: 9-13-2006
Location: Rosarito & California
Member Is Offline
Mood: Enjoying Life with Wife In Mexico, Easy on The Easy
|
|
I met several people at the bar inside Rosarito Hotel Bar and they had been drinking, golfing up the road, and buying like some say two and three of
these units. I asked them why they would put up that kind of money without see a completed condo and they said that is not the way you make money on
investments got to get in on the ground floor. I told them I realized that but where was the ground floor at the Trump Towers and they just laughed
and kept drinking. They were having a great time and some it was probably not their first visit to Baja but all of their other trips were staying at
really nice places and golfing along with deep sea fishing. This is the "dream sell" that was used to draw them in but Trump's name was the deal
sealer so Trump should have to answer for some of these peoples monies. These people just wanted the fun life or as we know it "La Vida Loca"
ahhhhhhhhhhh, the feel of good times and happy times with friends just ran them into something in Mexico I would never do. If I can not feel it, see
it, use it right then, enjoy its fun right now, then I am not spending a dime of my money on it. I told them that they would have been better off
spending money buying a condo time share at Rosarito Beach Hotel and Condos. I bought two here with the first one almost 23 years ago and have never
had an issue. Mr. Torres I see ever morning I am having coffee downstairs in the Lobby at around 7am. He comes in every day checking on his hotel
and freely talks with guests if approached. Tough businessman you bet but I have never met any businessmen with money that were not tough and looking
for the next dime. Yes, I do and have stayed at lesser cost places but this one 23 years ago for a two bedroom cost me about $8,000 dollars and with
the beach view and services right there it was money well spent. I was paying over a $1,000 dollars a week in Mission Bay back then because I had all
of the In-laws coming up to stay during our vacation also. No, problem in Mexico for some still came over but some won't cross the border but all had
fun day and night, yes I actually like my In-Laws. Moral to the story for me is know the builder and project supervisors to carry out a deal but if
you cannot see it and walk into it do not buy it!! Attorneys on either side are there for one reason to get into everybody's pocket, so do not get
involved in something that will allow them to even get close to putting their slimmy hands into your pockets, right??? I personally have a 5th wheel
trailer with 3 slide outs to place somewhere in Baja or maybe even Mainland that I will call my place in the sun. Once I take it down I probably will
never bring it out and still will have more than gotten my monies worth out of it. I am not greedy just want to feed the needy starting with me and
mine with fun times to take up whatever time I will have left on this earth. Like others I feel bad for those that were caught up in the moment of
fun times and fast talk that screwed them out of monies they will never see again. Even those that had a lot of money to buy more than one unit they
did not deserve to have this money stolen from them. "No Hurry No Worry Just Fun" is what we all are looking for even though our current times make
it really tough. We can all pop a cold one to that thought. Later---- bajafun777
|
|
|
Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
|
|
| Quote: | Originally posted by Bajahowodd
No crocodile tears for the Donald...... |
He just fired himself from his casino business along with daughter Ivanka. She was the sales pitchperson for Trump Baja and claimed she bought a
penthouse. Where will these two get their money from without casinos and real estate scams. Oh yeah- a new golf course in Ireland or something...
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8VJ...
[Edited on 2-14-2009 by Woooosh]
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
|
|
|
Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
|
|
It'll only be the third time Trump's Casino business has file for bankruptcy. He manages to fleece his investors, and lands on his feet. I always
thought anyone investing in Atlantic City casinos had a screw loose anyway. They attract the low rollers. Heavy on busloads of old folks from NYC. As
for Trump Baja, if he is to be believed, he only received a licensing fee for his name. Ivanka probably paid to read a script. NBC pays the guy too
much to put out a stupid show. We are a society that is celebrity obsessed, and as long as we are, there will be the Donald.
|
|
|
Bronco
Nomad
Posts: 168
Registered: 12-1-2007
Member Is Offline
|
|
Class Action Suit for Trump
Dear Trump Baja Buyers:
For those interested, below is the contact information for an attorney representing 60+ buyers in a Class Action Suit.
Daniel J. King
Law Offices of Daniel J. King
The Trillium Building
6320 Canoga Avenue, Suite 675
Woodland Hills, California 91367
818-587-9299
Worldwide Fax Toll Free 866-260-2160
Alternate Fax 818- 587-9292
|
|
|
The Gull
Super Nomad
Posts: 2223
Registered: 8-28-2003
Location: Rancho Descanso, BCN
Member Is Offline
Mood: High
|
|
Did some hear an ambulance siren?
�I won\'t insult your intelligence by suggesting that you really believe what you just said.� William F. Buckley, Jr.
|
|
|
desertcpl
Super Nomad
Posts: 2396
Registered: 10-26-2008
Location: yuma,az
Member Is Offline
|
|
more news
http://www.vancouversun.com/business/Ocean+luxury+condo+inve...
|
|
|
| Pages:
1
2
3 |
![[*]](images/xmbforum/default_icon.gif){kind=icon}
