offplan st lucia

paulmott

hi all i am considering investing with :: a company :: who are developing in st lucia.the deal is you put 30% down and they pay your repayments for you until completion when they gaurantee you a 70% mortgage on the finished build which according to them because of the discounted ofplan price will cover the full cost and pay them back the repayments they have made for you.you then enter a 50% rental contract which they say will more than cover your mortgage.you can also take up to ten years gauranteed 10% rental where they will pay you 10% of the property value.they have famous names commited ie a gary player signature golf course and pat cash tennis academy which gives me some confidence. any advice would help thankyou
paul

RayWolfe

Sounds excellent.

Let us know when you're rich beyond your wildest dreams ... but don't bother if you're not.


By the way, if this is a brilliant investment, why are they letting you in on it? I'd keep it all to myself ... but then, what do I know?

Inactive

Sounds fantastic to me, you have given us all so much wonderful info, what advice are you seeking?

BTW, do they serve spam for tea as well?:rolleyes:

Baldur

Sounds as great as the Spanish/Bulgarian/<insert unsightly, overdeveloped coastal region of your choice> 'developments' with similar offerings which can't be given away at the moment.

paulmott

i am seeking advice from anyone who may know of the company what risks are involved ect
cheers paul

cheerfulcat

paulmott, anyone buying offplan would have to be insane.

Gwhiz

cheerfulcat wrote: »

paulmott, anyone buying offplan would have to be insane.

In these turbulent times I would say that comment is spot on!

dunstonh

..especially ones offering guaranteed limited periods of rental income. (paid for in higher purchase price and the income level much higher than it will be when the guarantee ends).