Ex Wyndham Property Kalim

[grumpyoldman]

Four years ago I walked a "5 Star" resort property north of Patong with developers as they wanted investment in a certain part of their operation. What they were asking in a proposal was outrageous considering they were not close to being halfway done, so I passed. I let them know that I would come back and re-assess when they were 90% done, as at that point the ROI was a massive question mark.

Lo and behold, construction stopped and about a halfway done resort has sat rotting on the hillside for 3+ years.

To the people advertising for shareholders in new ownership, might I suggest this. Go to the bank, borrow all the money you need to complete the project then when it's done, sell shares to pay back the bank. Have to think a lot of that wood and now dilapidated construction is going to need to be replaced.

[Old Croc]

I wondered which project that was, couldn't find it on google.

[LivinginKata]

I wonder if GOM is talking about ---> http://www.thaivisa.com/forum/topic/869668-a-rare-opportunity-to-become-a-share-holder-in-the-newest-5-star-resort-in-phuket/

[steelepulse]

I wonder if GOM is talking about ---> http://www.thaivisa.com/forum/topic/869668-a-rare-opportunity-to-become-a-share-holder-in-the-newest-5-star-resort-in-phuket/

I love that "rare opportunity" bit. It's not a rare opportunity to get fleeced here, not rare at all.

[Shot]

Isn't that one of the properties that doesn't have proper land papers?

[LivinginKata]

Isn't that one of the properties that doesn't have proper land papers?

I remember a few years ago news reports about plots of land in Kalim on the hill side with very 'dodgy' land titles.

[eisfeld]

How would you get proper land papers for xx rai on these steep hills anyways? There were not any farms on that land.

And a good bunch of these properties might be running afoul of the 80 meter rule too.

Edited November 10, 2015 by eisfeld

[tolsti]

I always thought that those inclines were far too steep.... It would be terrible when it snows!. I know the Australian gent who was promoting them. Oddly enough I saw him in Patong only last week.

[hansgruber]

That whole road from Patong to Kamala is falsified titles and dodgy leases. When i first came here i looked in that area and during due dillegence the titles were issues only months earlier. If their is no history on the chanote then something is very wrong.

I wont touch nothing that is issued after 1992.

[grumpyoldman]

I wonder if GOM is talking about ---> http://www.thaivisa.com/forum/topic/869668-a-rare-opportunity-to-become-a-share-holder-in-the-newest-5-star-resort-in-phuket/

Bingo! Winner chicken dinner.

I don't think my proposition is so off base. If all is on the up-and-up (title) then a bank surely would step up, loan the money to finish it and then the owners could do shares or timeshares (you too can own 1/52nd of this) once it's completed and pay back the loan.

Boondoggle city right now, buying shares,huh(?)......as one poster put "rare fleecing opportunity" not here !

[NamKangMan]

Regarless of them obviously being a Thaivisa sponsor, I think Thaivisa loses credibility when it advertises something which is such a high risk for investors, boardering on a scam.

As the thread / advertisement is locked - good to see it slip off the front page quickly.

[eisfeld]

NamKangMan: the ThaiVisa operators know damn well what kind of "investment" this is, hence the thread being locked from the get go.

[LeungKen]

Forum Rule 10 states "Do not discuss moderation publicly in the open forum"

Please abide by the rules.

[NamKangMan]

NamKangMan: the ThaiVisa operators know damn well what kind of "investment" this is, hence the thread being locked from the get go.

Like I said, they lose credibility.