Coco Palm Villas

[beerguy]

Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.

However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects.

Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains.

The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way.

The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean.

I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist.

I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week......

[Kiiniow]

Bought one of these a few years back from CoCo and now can't get any real answers as to what is going on. Everytime I ask, all I get is the financing is in the works..........

Does anyone know what is going on?

Is it time for all us Hong Kong investors to come down there and knock some heads?

I'm just so disgusted by those people........they seemed like real decent people, but now I am wondering.

If you can knock heads DO IT and fast before there is not anything left to get from them. These guys at best are as unprofessional and untrustworthy as they come...at worse, _____________ well you fill in the blank!

[SamuiJens]

Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.

However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects.

Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains.

The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way.

The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean.

I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist.

I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week......

You fell for it hook line & sinker! or with all your CoCo naming, maybe you're one of them, this is the internet!

Edited March 21, 2007 by SamuiJens

[southwest19]

Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.

However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects.

Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains.

The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way.

The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean.

I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist.

I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week......

What are daft thing to say. How can it be such great value at 180,000 USD when they actually have not built it and have run out of money!

Using your model of good value you would walk into a car showroom get a fantastic discount on a car pay for it and they never deliver it or at best a few years later but great value!!!

[southwest19]

Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.

However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects.

Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains.

The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way.

The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean.

I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist.

I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week......

PS. When are you coming to Samui next?

[Kiiniow]

Keep the faith.

They are still here trying to get this sorted after a very difficult year.

They are still honest people, but had a lot of things go against them outside of their control and are doing their best.

[beerguy]

Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract.

Anyway, hope those guys can still work things out........

[mafaso]

I drove past the place today on my to Evason Sila. It looks to me they own A LOT of property on that hill. I saw a lot of fenced off areas with their name on it but no construction yet. If they turn all the land that they own into the same type of communities they have already built it will be an ugly sight. If they own the property out right then they are sitting on a gold mine of land for sure. I bet they could sell it and get a good premium compared to what they paid, depending on when they bought of course. The views from some of the land I saw were fantastic.

[Pilchard]

Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract.

Anyway, hope those guys can still work things out........

Only pub talk this but...

I have heard of some developers not putting the windows into houses so as to keep them unfinished ! .

The rental or guaranteed income only starts after the project/house is finished. House not finished, Don't have to pay guaranteed Income.

Only bar gossip and not directly about coco.

[southwest19]

Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract.

Anyway, hope those guys can still work things out........

You're beginning to sound like the former Iraqi Information Minister!

[beerguy]

You mean Bagdad Bob........hahaha!

Just trying to remain hopeful....

Rental gaurantees started a couple years back..........

Edited March 22, 2007 by beerguy

[southwest19]

You mean Bagdad Bob........hahaha!

Just trying to remain hopeful....

Rental gaurantees started a couple years back..........

Ha ha. On a serious note I also heard first hand sometime ago from a Coco Villa owner that the rental guarantees had started kicking in.

Also I hope the project is fully completed not least because I do not like seeing poeple lose their money but also it would be very bad for the island if such a high profile development went tits up!

[Jet Gorgon]

A friend did contract work for CoCo for about four years. Always got paid on time and CoCo was very supportive.

Heard about the first couple who moved in to their completed home in the early days of the project. Construction all round, they said. But their choice.

Pity about the rental agreement probs, and now $180,000 price tags? I'm sure friends only paid about $80,000.

Is there jealousy swirling just because CoCo is pan-island?

[LaoPo]

Is there jealousy swirling just because CoCo is pan-island?

There's is no jealousy from my side, Jet. Thanks for the info.

The point is that they built as many villas as possible (each owning a very small piece of land) on a once beautiful spot.

Reason ? Greed.

They could have built the same villas, let's say each having 800 or 1000M2 and it would have been a splendid resort and at the same time could have made more money (higher house prices).

It's -my opinion- short sighted and therefore greedy development, unfortunately.

But, to be fair, they're not the only ones on Samui or elsewere in Thailand

LaoPo

[SamuiJens]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

[Jet Gorgon]

Is there jealousy swirling just because CoCo is pan-island?

There's is no jealousy from my side, Jet. Thanks for the info.

The point is that they built as many villas as possible (each owning a very small piece of land) on a once beautiful spot.

Reason ? Greed.

They could have built the same villas, let's say each having 800 or 1000M2 and it would have been a splendid resort and at the same time could have made more money (higher house prices).

It's -my opinion- short sighted and therefore greedy development, unfortunately.

But, to be fair, they're not the only ones on Samui or elsewere in Thailand

LaoPo

Too true, Lao Po.

Anywhere in Thailand seems the same. So much land and the developers cram everything into a small space so there is no privacy, garden area, peace. I would rather have a small house on a big plot of land. But then, I like to be outside on the balcony, so even if the karaoke bar is 5km away, I can still hear every snap, crackle, pop and drunk crooner. It's a pity things turned out this way.

BTW, I like that wild, tussled look in your new avatar. Meow!

[Jet Gorgon]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

That is sad, indeed. I do not like to hear that people fail. And, if the company is as big as you all have said, the closure will have dire consequences for many other folks, too.

[beerguy]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

Hope that's not the case as the wife and I really love it there and wanted to spend some time there yearly.

[taxexile]

CoCo will declare it's bankrupt,

but i doubt if the lifestyle of the owners or directors will change or suffer should the bankruptcy rumour come to fruition.

bankruptcy in the property business is usually down to creative accounting more than dire financial straits.

[LaoPo]

CoCo will declare it's bankrupt,

but i doubt if the lifestyle of the owners or directors will change or suffer should the bankruptcy rumour come to fruition.

bankruptcy in the property business is usually down to creative accounting more than dire financial straits.

True; I doubt that the present owners/stockholders will suffer. It's indeed -most likely- creative accounting so they can have a fresh start with a new name.

The ones who suffer are buyers, suppliers, sub-contractor and others....

LaoPo

[stevieff]

Bought one of these a few years back from CoCo and now can't get any real answers as to what is going on. Everytime I ask, all I get is the financing is in the works..........

Does anyone know what is going on?

Is it time for all us Hong Kong investors to come down there and knock some heads?

I'm just so disgusted by those people........they seemed like real decent people, but now I am wondering.

Maybe it's time, beerguy, to knock heads that is. The part about needing financing to finish a villa that you have put a 50 percent deposit on is clearly a scam or at least very unethical. Don't you think your waiting period has been excessive? Shoudn't that have given you some red flags?

[beerguy]

How can I find out if they in fact filing for bankruptcy? Is there a website that lists these filings in Samui?

Edited March 23, 2007 by beerguy

[SamuiJens]

How can I find out if they in fact filing for bankruptcy? Is there a website that lists these filings in Samui?

Don't freak out, beer guy, this is the talk thaat is going around, so it is NOT 100% FACT.

Would hate to see the investers taken to the cleaners.

[beerguy]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

[stevieff]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

Nice job, SamuiJens. First you make it seem like you have inside information on an impending backruptcy, then when the poor guy's going ape-s--t, you decare it's only talk and not 100 percent sure. Kudos to you, job well done.

[Mark Wolfe]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

Why? Is this your life savings? Did you want the house and the little woman said no but you went over her head?

Is this your fault? Sleeping on the couch? Weird!

[stevieff]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

Why? Is this your life savings? Did you want the house and the little woman said no but you went over her head?

Is this your fault? Sleeping on the couch? Weird!

Yet another helpful hand from the generous members of Thaivisa.

[Rooo]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation.

Another option is to get your legal people to delve into it & see where you stand with :

1/ Building being late. Has it been started?If so to what stage?

2/In case of bankrupcy where do you stand with land etc.......

Good luck & keep us informed.

[stevieff]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation.

Another option is to get your legal people to delve into it & see where you stand with :

1/ Building being late. Has it been started?If so to what stage?

2/In case of bankrupcy where do you stand with land etc.......

Good luck & keep us informed.

Thanks, Rooo, for actually trying to help the guy.

[beerguy]

Wife is freaking out as a result of this info............sleeping on the couch tonight!

Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation.

Another option is to get your legal people to delve into it & see where you stand with :

1/ Building being late. Has it been started?If so to what stage?

2/In case of bankrupcy where do you stand with land etc.......

Good luck & keep us informed.

It was kind of a joke about sleeping on the couch although the little lady did freak out.

I never buy anything I can't afford to lose but that said I don't want to lose this one.

I have other properties that lucklily are income producing but my wife likes this one in particular as she really likes Samui a lot!

Oh well, just need to wait and see what happens........luckily I have a plan B.