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Real estate investment to consider

There is an amusement park being built near Buga, an hour north of Cali, along with some houses for people to rent while going to the park. Here is the info.

http://www.clubestancia.com/villas.htm

I'll summarize the fact sheet link. The houses cost USD $90,000. There is an obvious mistake on the page stating that the houses will be rented out when you are not staying there, and pay you USD $5,000 a week. I assume that number should be changed to USD $500 for each week that the houses are rented out.

The company also promises to buy back the house you own, five years later for USD $180,000, if you want to sell it.

I am not involved in any way with this project, I just accidentally found it and thought I would bring to the attention of anyone wanting to invest in Colombian real estate. Do your own due diligence.

By expatriate on Mar 19, 2007, 08:33 in Friendly Talkzone.

bradenmiami says on Mar 19, 2007, 10:17:

Think you misread... Thanks for the info, however your painting this out to be a much better deal than it is. Might want to re-read the .pdf fact-sheet. This investment is, in fact, a timeshare purchase:

Pay $90k UDS and receive 10 weeks timeshare ownership, the other 42 weeks of the year will be sold off to other purchasers by the issuer and you will receive $5,000 for every week sold (they probably will sell the weeks for 300% what they pay you).

After 60 months, you can sell back to issuer for 200% what you originally paid - in other words they want your $90k USD to get the thing built and in 5 years paying you 200% what you paid originally is no big deal to them.

The "lovemedellin website" is a piece of crap made by some moron who has only been to Medellin once...you'd be better off reading the Lonely Planet advice from a guy who never even came here!

0 funny, 0 helpful.