stuartmccorm,what exactly has this link to do with cape verde???
Cape Verde
- Thread starter Jeremiah
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G
Guest119
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For a third world African country the prices were ridiculously high and where do they think the rental market is ?. One new development alone they showed would require 4 plane loads a week to fill it. As for the off-plan, do you think airfares will be cheaper in two years time ?.
At the end of the show they stated that the prices were early 2007. The world of investment, and property investment in particular, has changed entirely since then. I would imagine that you could pick up a lot of property much more cheaply there now from distressed sellers.
Also, you have to pay 50% tax on all furniture etc that you import, I never heard of that one before.
Murt
Capricorn 1
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Saw the programme on friday. The whole place seems deserted, just like a ghost town. There is never anybody around. In future programmes marketing Cape Verde, it would pay them to put a few extras in just to make it look like there are people there. I can't see it becoming a tourist destination at all in the future.
G
Guest119
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They were pushed to find any shots of the "town centre" that didn't show all the shanty type buildings.
Did you also see how empty the beaches were ?. Maybe due to the constant strong winds.
Did you also see how empty the beaches were ?. Maybe due to the constant strong winds.
Or maybe it is because the vast majority of holiday homes aren't built yet?
Same goes for shops, restaurants, roads, golf courses, etc.
When most is built, there will be a strong demand for flights and, hence, supply of flights will be more common place ( including direct from Dublin once again ).
Pretty simple beginners economics, really ( Law of Supply and Demand ) !
Same goes for shops, restaurants, roads, golf courses, etc.
When most is built, there will be a strong demand for flights and, hence, supply of flights will be more common place ( including direct from Dublin once again ).
Pretty simple beginners economics, really ( Law of Supply and Demand ) !
Hi Thomsk,
How did you and your friends get on with your CV investment plans?
aj
Even if oil is $250 a barrel and flights to CV cost $1000 per person?
Yes - or if oil shows more massive falls as it did last week, tumbling 11% in three days.
These sort of crazy falls in oil price haven't been seen in over 15 years !
Hopefully, the oil price will reach a happy medium by autumn - in time for a flight over to see how the apartment building is going!
Am not sure yet - but rumour has it that direct flights will begin again from Dublin later this year.
Can anyone confirm whether this is fact or fiction?
PS CV seems to be attracting one or two celebs already (and they don't look too depressed at being in a " third world country").....
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Don't know what it is with singers, but apparently Samantha Mumba has bought there aswell as you one from Buck's Fizz !
These sort of crazy falls in oil price haven't been seen in over 15 years !
Hopefully, the oil price will reach a happy medium by autumn - in time for a flight over to see how the apartment building is going!
Am not sure yet - but rumour has it that direct flights will begin again from Dublin later this year.
Can anyone confirm whether this is fact or fiction?
PS CV seems to be attracting one or two celebs already (and they don't look too depressed at being in a " third world country").....
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Don't know what it is with singers, but apparently Samantha Mumba has bought there aswell as you one from Buck's Fizz !
For sure, GDE. Will have to see if they can all be gathered together for a rendition of the birdy song (or "feed the world - band aid" and have a fund gathering exercise - before anyone gets their dig in about third world stuff! Talking of which, i recall reading somewhere that it's not now considered 3rd world...it's now got worse!! No, seriously...I think its status has improved somewhat with all the spending and job creation happening).
C
cromulent
Guest
Jaysus, that'll be great.
The Cape Verdians can come over and buy up all the unsold shoeboxes in Dublin.
Tom Parlon will be thrilled.
I came across an alternative method of investing in Cape Verde the other day. It was from a company called Stirling Mortimer. Rather than actually investing in real property long term yourself, they try to ride the wave of new up and coming locations (and let's face it there's been plenty of hype for a lot of locations.)
What they do is buy Right to Purchase contracts off-plan, and then flip them at delivery from the developers to new clients (many of whom seem to be Russian).
Unique selling points they claim are:
i) this is a large fund (~80 million) which claims to get big discounts off-plan that you would never get as an individual
ii) they don't care about long term prospects in the area, they are flipping and will not hold or manage property.
iii) there are guarantees of 15% return which is held in a separate deposit account
iv) entry for just €25K euros minimum
v) no property to manage yourself or get lumbered with long term
vi) low fees (1.5% management fee)
Now I know all about guarantees, so I am suitably sceptical, but I have asked for a prospectus anyway.
It seems to me that the success of this fund depends on them correctly identifying the next "in" location and then identifying more (gullible) investors to take the stock off their hands. All in all it sounds more like speculation than investment, but as I say I haven't read the detailed prospectus yet so I'll try to keep an open mind.
Any experiences on this board with these guys?
Any opinions on this specific fund?
Disclosure: I have had nothing to do with Cape Verde or Sterling Mortimer up until now. I'm just looking for interesting investments for myself. And I bin the vast majority of prospectuses I read.
What they do is buy Right to Purchase contracts off-plan, and then flip them at delivery from the developers to new clients (many of whom seem to be Russian).
Unique selling points they claim are:
i) this is a large fund (~80 million) which claims to get big discounts off-plan that you would never get as an individual
ii) they don't care about long term prospects in the area, they are flipping and will not hold or manage property.
iii) there are guarantees of 15% return which is held in a separate deposit account
iv) entry for just €25K euros minimum
v) no property to manage yourself or get lumbered with long term
vi) low fees (1.5% management fee)
Now I know all about guarantees, so I am suitably sceptical, but I have asked for a prospectus anyway.
It seems to me that the success of this fund depends on them correctly identifying the next "in" location and then identifying more (gullible) investors to take the stock off their hands. All in all it sounds more like speculation than investment, but as I say I haven't read the detailed prospectus yet so I'll try to keep an open mind.
Any experiences on this board with these guys?
Any opinions on this specific fund?
Disclosure: I have had nothing to do with Cape Verde or Sterling Mortimer up until now. I'm just looking for interesting investments for myself. And I bin the vast majority of prospectuses I read.
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Heres some more info on it. In my opinion they are working some angle on this that is not as straight forward as it sounds. Why would you start a fund for an area that has just had a massive slump in sales?
Perhaps the money is being raised, put in escrow, the bank leverages the same amount back to the company which they use to build the project, and then try and sell it splitting the profits with the initial investor...
That would be my take on it. Because then at least the bank has the completed asset to guarantee the return. Im just struggling to see how else something like this is in the interest of the company organising it, the risk would be too high. Maybe someone else has other thoughts...
the website by the way for stirling mortimer was strange it wouldnt allow me in without a code