大咖福利影院

dumluk wrote:

Who was it that said, "A fool and his money are soon parted"........or "Theres a sucker born every minute"?聽 it just came to me in a blinding flash.....W.C. Fields for the second one......

The first was apparently first written in 1587 although it is certainly an old, old saying, much older than that:


The second is commonly attributed to P.T. Barnum although some say he never said it.聽 He was right, of course, he just underestimated the frequency:



One of my favorites among many from W. C. Fields is
"A woman drove me to drink and I didn't even have the decency to thank her."

RepeatAdventure wrote:

I do know several buyers personally.聽 Although there are "recourse" clauses written into the contract, no one I know has been able to enact them, on their own merit or legally.聽 The developers are aware that it is an expensive, lengthy process to hire a lawyer and go the legal route and are banking on the fact that this may deter most.

Good to see that access to the legal system (for recourse) is as much a deterrent there, as it is in many other places...

RepeatAdventure wrote:

I do know several buyers personally.聽 Although there are "recourse" clauses written into the contract, no one I know has been able to enact them, on their own merit or legally.聽 The developers are aware that it is an expensive, lengthy process to hire a lawyer and go the legal route and are banking on the fact that this may deter most.

Dear SawMan,

I see that you mentioned the apparent lack of progress at the coastal-golf-course and housing development planned for Las Olas.

The pre-construction sale of future-units of this project began about ten years ago, so your mention of five years is being generous.

Repeat Adventure (citation above in this post) gets at an important fact -- Expats buying pre-construction in Ecuador are in a difficult position to collect on putative buyer-protective clauses.

I found this out personally when I purchased my Quito condo in pre-construction in 2004, finally able to move in during mid-2013.聽 There was an $8,000 US 'multa' in the contract.聽 However, it was only when the slow-moving developer missed the deadline, triggering the potential multa .. that I learned that I would have to pay about $3,000 up front to initiate the court proceedings necessary to obtain the multa.聽 With additional costs possible and the final outcome less than certain, I dropped the possibility of pursuing the fine.

The last sentence in Repeat Adventure's citation tells the rest of that story.

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RepeatAdventure wrote:

Hopefully, for the buyers waiting to move in, I hope (the report of a bank loan for infrastructure) is true and that the money will not be used for "other" things.聽 聽Law suits against LO have halted and/or slowed down any construction on site.聽 And on a sad note, several horses on the property belonging to LO had to be destroyed due to a lack of good nutrition.

Just imagine folks who bought into the Las Olas project ten years ago .. now reading in late 2018 that the developers may be getting a loan to help kick start the infrastructure.

Lawsuits, horses put to sleep, no start to infrastructure after a decade of delays -- what a cautionary tale for Expats considering selling their homes so they can move into pre-construction housing projects in South America!

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RepeatAdventure wrote:

It appears that Las Olas has recently managed to secure a substantial loan from National bank to help kick start the infrastructure. Hopefully, for the buyers waiting to move in, I hope this is true and that the money will not be used for "other" things.聽 聽Law suits against LO have halted and/or slowed down any construction on site.聽 And on a sad note, several horses on the property belonging to LO had to be destroyed due to a lack of good nutrition.聽 聽 聽 聽鈥淗ow funny it鈥檒l seem to come out among the people that walk with their heads downwards! The antipathies, I think鈥斺�� Down the Rabbit Hole, Alice in Wonderland.

Very Unfortunate. Hopefully things will turn around for the better. Perhaps this was one, or is one of those projects that will have no middle ground. Either a spectacular success, or a spectacular bust. Kind of looks like a bust at this point in time. Imagine lots of good people invested their hard earned money in good faith. Fingers crossed that things eventually work out for all those people.

RepeatAdventure wrote:

This is sooo similar.聽 Only a matter of time?聽

Some people read articles like this and become skeptical buyers who do their due diligence before buying property overseas.

Others who are looking for ways to separate people from their money read articles like this and consider them as how-to manuals...

LasOlas1 wrote:

We currently have 18 pieces of heavy equipment on site primarily finishing moving the last of the dirt required for the tiered roads that provide unobstructed ocean views for the majority of the homes and condominiums. There are in excess of 100 employees on site. We expect the first 15 homes to be finished by October,,,

A decade in, still moving dirt around in anticipation of roads, infrastructure and home building!

Anyone who believes 15 homes will be finished in the next 100-130 days is easily persuaded or gullible, especially given the history of this 'project'.

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Pre-construction purchases are a risk in South America.聽 An example of how things go wrong is the situation facing condo buyers of the troubled Trump-branded property that was under construction in Punta del Este, Uruguay, as reported in the New York Times.

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gardener1 wrote:

@LasOlas1 I think you should market your scheme elsewhere, we've had more than our fill. You may be new here, but we're not.

About sums it up

LasOlas1 wrote:

Hello, We currently have 18 pieces of heavy equipment on site primarily finishing moving the last of the dirt required for the tiered roads that provide unobstructed ocean views for the majority of the homes and condominiums. There are in excess of 100 employees on site. We expect the first 15 homes to be finished by October, most of which will be inhabited by owners that are currently living in Ecuador. From there we will commence construction on our ocean front homes and hillside condominiums. We expect to more than double the number of employees over the next several months. The back 9 of the golf course will be playable by year end. We are engaged with many interested investors in Canada and the US. A promotional offering has just been released. **** Take care.

Wondering what the status is. 15 homes are going to be moved into within 20 days?

LasOlas1 wrote:

I was there yesterday, it looks like the beginning of the most expansive and interesting community development in Ecuador.

The beginning?!

OMG, it's been at the beginning for a decade.

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I am skeptical of LasOlas1's expectation, stated on this thread, that 15 homes at Las Olas will be completed by next month, October 2019.

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