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Ecuador real estate has really
paid off for us because we spot contrasts and trends in real estate around the
world. This creates opportunity that is fun to pursue. We love searching and inspecting
ecuador real estate.
Ecuador Real Estate Alternatives
Yet we realize that there are
many othjer places that offer opportunity and fun so our messages in in 2005 have
looked at Ecuador real estate, plus opportunity in Argentina, Mexico, Costa Rica
and even Germany.
Ecuador Real Estate & Alternatives Update
Here are updates on some of the projects we have
reviewed.
Ecuador Real Estate Homes
First, we have heard from our
tour operator in Ecuador, Santiago Guamani, who is developing the San Miguel Project
in Cotacachee which offers very nice 1,600 square foot homes with mountain views
for under $70,000. He writes:"We are
happy to send you pictures of the progress in San
Miguel Homes and Gardens.
1. We are now building a lake
with a wonderful small waterfall that
will add scenic beauty and provide fishing there.
2. We have decided to add a community
swimming pool when the 65% of the project is sold.
3. Our webpage of the project
will be updated every week."
Ecuador Real Estate For Teak
We have previously written numerous
times about Ecuadorian real estate and teak. See SpottingTrends.com
Principal Paul Palacios has informed
us that his firm, Montgomery and Palacios, now have started their fourth plantation
called La Reserva.
This is a Teak plantation located in Guayas Province, Balzar Canton, 11 km north
of the canton's capital and 3 kms. East of Balzar-Empalme highway. There are 350
acres of land in the project with about 280 acres that will be planted in
teak.
There will be a public stock
placement of 90,000 shares at $12 per share. The annual estimated profitability
is 15% per annum at the timbering in 20 years.
The financial and administrative
management is done by Montgomery & Palacios, the forestry by Forestall Management:
Agromaster S.A. and accounting, auditing & taxes by Deloitte & Touche.
See
More Details.
Argentina Forestry and Property
A March 2005 message reviewed
Argentina forestry and real estate opportunities in the Ushay
Project.
The following update comes from
Steve Rosberg on the Ushay development.
"On May 31st we signed the
purchase agreement for La Negra, with the participation of 17 early-bird investors.
Now we are concluding the purchase and the terms were better than budgeted.
"The Trust purchased the
corporation (named EFSA) owning La Negra without other assets or liabilities,
reducing transfer of title expenses. Also, in the budgeted price we will receive
most of the waterfront strip of standing old eucalyptus so that the owners of
the lots can decide whether they wish to keep it for landscaping purposes or not.
"We take possession of
La Negra on August 30th and are now getting the survey for subdivision started.
We are also discussing lease grazing opportunities with cattle ranchers
and evaluating whether to sell waste wood on the ground as firewood
or charcoal.
"We are also preparing to
prune and thin the pine plantation.
"We are subdividing the waterfront lots in 1 hectare (2.471 acres) units.
This allows the owners much more flexibility for managing their property in
the future.
"This allows the trust to
sell as many as 60 additional units - for the benefit of all the investors in
the project and increase profits.
"Prices will increase September
1st by 8%.
More details are available from
Steve Rosberg
Mexican Coastal Property
Earlier this year I mentioned
a property opportunity in Baja, Mexico. (See this
page on the internet)
Manager Steve Simkovich reports
that the Tucson Citizen newspaper in Tucson, Arizona wrote:
"Tucson and Phoenix could
become financial centers for extensive construction projects in Sonora and Baja,
California. Some $300 million to $400 million has already been earmarked to potentially
fund the building of tourism properties in Puerto Peñasco (Rocky Point)
and low- and middle-income housing in Baja California, said Boris Kozolchyk, president
of the Tucson-based National Law Center for Inter- American Free Trade."
The article is at: TucsonCitizen.com
There is also an article about
Mexican Laguna del Mar project , an $85 million project that includes 1,750 single-family
homes, a 32-unit condominium, 300-room hotel and an 18-hole golf course designed
by Jack Nicklaus. Read the
full article.
The San Diego Business Journal
reported:
"In the next 12 months,
stretches of affordable luxury residential property south of the border could
be just a bank loan away. U.S. citizens who have long dreamed of owning beachfront
property in Mexico, but could not secure financing, may be able to make that dream
a reality sooner than they once thought.
"Several U.S. banking institutions
are ramping up their lending programs to serve the growing demand among U.S. citizens
to invest in residential real estate in Mexico. According to one expert, in 2005
there is likely to be six banks offering mortgages on Mexican homes, which is
significant considering that just three banks were originating such loans at the
end of last year." Read the full article.
More details on Liberty cove
are available.
Until next update, good global
investing.
Gary
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