This project has been on hold for i think 5 years. It's at the East end of Encanto, starts at the Y in the road and continues to the beach. Left side of the raised road before the turn to the guard shack. That is my understanding. Maybe a paved road????
Yes, its been about 5 years and now they think they are going to start contracting with gringo "pre-sales"??? Oh brother, not gonna happen. Hopefully lessons learned in the past RE fiasco.
I reserved two penthouse 3 bed units and one by a pool on the first level. I get to select the paint colors !!! Only 50% down !! Guaranteed completion in 12 months and I got that in WRITING, signed sealed and delivered. I'm gonna make a mint.
I reserved two penthouse 3 bed units and one by a pool on the first level. I get to select the paint colors !!! Only 50% down !! Guaranteed completion in 12 months and I got that in WRITING, signed sealed and delivered. I'm gonna make a mint.
I don't care who developer is, anyone who signs on the dotted line without getting the key is a moron. I predict this to be dead quickly. Just hope another half- ass structure isn't started and left to rust on my beach.
There is no question that irrespective of who the developer is, investing in a structure under construction is extremely risky. Building based on income from sales is pretty much an impossibility as evidenced by the many stalled structures all up and down the beach. .
I'm aware of at least a dozen successful developments along the beaches, and have friends who were nicely rewarded for investing in them. I personally bought 2, while living in one for about 7 years. No regrets for buying during the planning stage, selling both of them for a sizable profit. Yes, it does matter who the developer is, we must all do our research first!
New
I don't care who developer is, anyone who signs on the dotted line without getting the key is a moron. I predict this to be dead quickly. Just hope another half- ass structure isn't started and left to rust on my beach.
All they do is haul out the "force majeur" clause and you are sittin in limbo.Horse manure is what that clause should be called. no recourse.
New
I don't care who developer is, anyone who signs on the dotted line without getting the key is a moron. I predict this to be dead quickly. Just hope another half- ass structure isn't started and left to rust on my beach.
All they do is haul out the "force majeur" clause and you are sittin in limbo.Horse manure is what that clause should be called. no recourse.
Island guy threw the dice....he should not kid himself...I wonder if he is a Butterfied associate?
OK, but if I were creating a high rise condo, it wouldn't be a "landing page"- that was my point. I would have the designs, floor plans, etc. not a phone number to call.
OK, but if I were creating a high rise condo, it wouldn't be a "landing page"- that was my point. I would have the designs, floor plans, etc. not a phone number to call.
Patience now, they need to secure some of those “pre-sale deposits” for capital to pay the webpage designer first.:perv:
OK, but if I were creating a high rise condo, it wouldn't be a "landing page"- that was my point. I would have the designs, floor plans, etc. not a phone number to call.
Typically, a landing page is to attract visitors to establish contact with them and gauge they’re interest. It actually works, I inquired and already received information back. Looking forward to future updates.
A new member with 3 posts on Encantame. Obviously a guy with a hand somewhere in this nonsense. Why not just come out and stop the charade Iguy.
Wow, didn’t anticipate getting so much attention for showing a little interest in this Rocky Point social web site, I never knew existed. I’ve been going to RP with family since high school and was fortunate enough to live there later in life. I have been a way for some time and now have interest in going back down; therefore, I’m looking to see what’s available for rent and/or purchase, and after the online viewing of Rocky Point Times, I read about the upcoming project.
Wow, didn’t anticipate getting so much attention for showing a little interest in this Rocky Point social web site, I never knew existed. I’ve been going to RP with family since high school and was fortunate enough to live there later in life. I have been a way for some time and now have interest in going back down; therefore, I’m looking to see what’s available for rent and/or purchase, and after the online viewing of Rocky Point Times, I read about the upcoming project.
Don't take it personally...we have dealt with stalking horses for real estate hucksters for years.Some of these hucksters have caused real damage to real people.I can give you the number of a widow with 3 children whose loving husband and a big defender of Liberty Cove after the collapse ended up killing himself when the realty of the swindle hit him.
This site was founded after the original forum was purchased by a real estate hustler and the 5 years history of swindles "accidentally" were erased in the transfer....
I was down there this weekend and went into Puerta Privada looking at condos and they mentioned Encantame Towers. They stated it's the same developer as PP but this will be for rental units, unlike PP.
They stated they started taking deposits last week and 50% of the condos were sold for the first building. The prices are attractive, $300k for a 2 bedroom. It looks promising, hopefully they can pull it off.
We were at the Playa Encanto HOA meeting yesterday and here is what was said.. The builder is one of the most reputable in the area and has built here in Puerto Penasco as well as a number of developments in Guadalajara. Phase 1 of the development is fully funded and, although they are taking pre-sales, they money from these is not required to complete phase 1. The project will be completed in 3 phases. Each phase will be a 23 story tower with approx 5 units per floor. Virtually all of the people who have been in Encanto for many years, including the entire board, basically said if someone was going to build here they are glad it is this builder.
We were at the Playa Encanto HOA meeting yesterday and here is what was said.. The builder is one of the most reputable in the area and has built here in Puerto Penasco as well as a number of developments in Guadalajara. Phase 1 of the development is fully funded and, although they are taking pre-sales, they money from these is not required to complete phase 1. The project will be completed in 3 phases. Each phase will be a 23 story tower with approx 5 units per floor. Virtually all of the people who have been in Encanto for many years, including the entire board, basically said if someone was going to build here they are glad it is this builder.
Thank you. If you had the money, would you invest into that property? If not, why not?
--started taking deposits last week and 50% of the condos were sold for the first building.
Ahem.........… a very low probability event. This is a common sales technique here to create some momentum.
'the development is fully funded and, although they are taking pre-sales, they money from these is not required to complete phase 1. The same thing said about the stalled Las Perlas in the Mirador.
Aren't they still selling Privada ??
The issues here is simple and has been discussed numerous times here and elsewhere. The legal system is not kind to investors who take this kind of risk. Often in a development like this here there are multiple parties involved in 'ownership' and often disputes arise among the partners, to the loss of the investors. Look at North Beach nearby.
Th infrastructure required here is gargantuan.
Prices are not that attractive when I cans still buy a really nice 3 bed/bath finished ocean view home in Las Conchas for $200K
Thank you. If you had the money, would you invest into that property? If not, why not?
I’m surprised to see you asking this question here and on Facebook. This forum...your forum...has addressed these types of questions in similar situations for many years. It has been said many times on here if they aren’t handing you a key to the front door so you can move your stuff in don’t do it. Encantame may be an exception to the rule, but then again it might become just another failed project where innocent people lose their life savings like so many more before them. The question is, do you feel lucky, very lucky?
Thank you. If you had the money, would you invest into that property? If not, why not?
I did invest in multiple units without any hesitation, after attending the presentation. Trustworthiness & financially stable developer who has completed 5 resorts.
--started taking deposits last week and 50% of the condos were sold for the first building.
Ahem.........… a very low probability event. This is a common sales technique here to create some momentum.
'the development is fully funded and, although they are taking pre-sales, they money from these is not required to complete phase 1. The same thing said about the stalled Las Perlas in the Mirador.
Aren't they still selling Privada ??
The issues here is simple and has been discussed numerous times here and elsewhere. The legal system is not kind to investors who take this kind of risk. Often in a development like this here there are multiple parties involved in 'ownership' and often disputes arise among the partners, to the loss of the investors. Look at North Beach nearby.
Th infrastructure required here is gargantuan.
Prices are not that attractive when I cans still buy a really nice 3 bed/bath finished ocean view home in Las Conchas for $200K
Agree, we are new in this forum. My husband and I have always (like many of you ) dream to retire with an ocean view. For us PP is the best bet because is only 4 hours from phoenix. We spend 3 days at las Palmas and love there very much but we walk around. We were so surprised to see Las palomas had this run down , falling a part building not completely finished on the side. I asked the guy and he said that has been like this for many years. They decided to stop construction , will destroy it because they want to build it with a BIG balcony!!!!!!!!!!!!!!!!!!
I would NEVER buy something in Mexico that is not fully complete..just my 2ce4nts
On Sept 9th Islandguy shows up and his post is sent with this, "Sent from my SM-G935V using Tapatalk" He then disappears and his clone azbeachguy02 shows up and guess what? He too was using the same exact type phone "Sent from my SM-G935V using Tapatalk." Roberto, could Jerry and I go in with you on your two condo deal? Seems like a solid idea to me, Tapatalk told me so. o_O
OK, if fully funded we should expect a new entry road all the way to the Caborca highway will be completed soon, plus electricity and water. right?? If that happens you will make a believer of me. Not a buyer but a believer.
Any sign of road construction ? Or any other construction activity? With a lot of presales plus fully funded we should see some activity soon. Tyler is anxious to move in...
They graded a road from the road to Playa Encanto to the lot. This was before the flood so I don't know if it is still there.
The road to the lot is there. We drove up it last weekend to take a look at the lot and the area around it. We have a house in Encanto and wondered where our new neighbors might be.
Never ever buy anything down there on a presale promise. I don't care what their track record is, it's too easy to hide behind their legal system down there and screw the buyer. How many examples of that does a person need? Hand them the money in one hand, get the trust and the key in the other.It's the only way, sorry.
Actually Ernesto’s advice is right on, couldn’t have said it better. Many innocent people have lost their life savings when investing in real estate in Mexico because they didn’t follow this simple rule. Maybe Encantame Towers will be the exception to the rule, I hope so for your sake and the other 100 with their hard earned money invested in this project. But in general the rule of investing in Mexico remains the same and always will, “Hand them the money in one hand, get the trust and the key in the other.” Implying otherwise will put many at risk and none of us want to see that happen again.
1. If it is fully funded why not just build it then sell.
2. Anyone else disbelieve that 100 have been sold at this date? This is a big red flag. Back in the day this was a technique used to blow and go. Local market movers would 'reserve' an entire floor with no money down. The biggest mover of the past is responsible for many of the steel structures waving in the wind and millions of lost dollars taken from trusting investors..
And yes we have seen occasions in the past where a 'newby' signs on to the forum to promote something. Patently transparent BULL, $100K profit before the start of construction ! Only a fool would believe that. This may be a good development, time will tell, but SSE is only damaging the development . I think this guy is a hot sales person from Chicago !!
I call it Horse Manure not Force Majeure. Look at Las Palomas phase 3. There was even a clause in their contract that called for refund of monies paid and they played the Horse Manure card. 12 flippin years ago. Buyer beware!
Sonoran Sea owner and just bought at Encantame. First time post, interesting reading in this thread. The builders are the same ones who finished the Sea, Spa, Princesa, and Puerto Privada. Each one sold out and delivered on time. Its a no brainer for me. Casago is going to be managing the property. Over 100 sold already. 200 to go...... I expect my 2br 2ba that I bought for 314,000 will be selling for 400,000 or more by the start of construction.
mm-hmm, then why such the hard push on the project. Hope you are being honorable, but history dictates something else. Word of advice for joining this forum, probably best you do a little toe-dabbing around here first before trying to make the big splash.
There's a saying " when the US economy catches a cold, Mexico catches the flu". The last 2 times this happened were the unfortunate incidents of the terrorist planes hitting the towers, then the economic crash casing the "great recession" in 07-08. The builder you cite was far enough through the process and didn't idle or shut down as did many others. As evidenced by the rusted building skeletons still there. Investing is always a calculated risk, good luck to you with your presale down payment. ALOT of people lost ALOT of money. I wish you well.
Let me get my blanket, Chicken soup and my Vit C, because I feel a cold coming on in the US.
SSE dream, Stating that the prices are going up $75-100K is a great way to scare more fish into the pond, sounds like salesman
not making their sales quota.
SSE dream don't take offense, many of us here on RPT have seen too many people drink this Kool aid and never recover when
the promises aren't fulfilled. They end up promoting how bad Mexico is to allow this to happen.
Buyer beware because this is Mexico and the rules are different here, recourse is almost non-existent here.
Ask some of those who were fleeced 10 years ago with some of the unfinished projects and recently with the
D. Butterfield, Esmerelda 15% return investment project.
We're just wary. Hope it works out for you.
Who owns the land there? Did you check the landowner at the registry?? Did you check for liens against the property. Did you get full disclosure who the partners are??
Just went out there yesterday to look around. Had not been there in years. Personally I hope it works out but I find it way to far away and isolated. Went to La Jolla also. I remember when there was great plans for that. I now understand why they are saying the towers will have a starbucks , bowling alley , etc. It's lack the convience of being close to town , one thing that Sandy beach has going for it.
For the record, and for the sake of the people that have already invested their money in this proposed property, I hope it succeeds. Since this thread is now displayed on Google when you search for Encantame Towers, I think it’s important that Miramar’s post from the Encantame Tower Owners thread be displayed here as well. Most people will do their research before investing and in most cases will include a Google search. The links that Miramar included should be available for proposed investors so they can understand the history and risks of investing in unfinished properties or properties that haven’t even broken ground. Once again, I hope it succeeds.
I bought at the Villages. The lot is paid for but I do not think I own anything. Even though I paid cash for the lot I never received title or any paper work.