I can definately confirm that this is a different site. The coconut grove location I have google earthed and I have also seen Coral Beach, they are genuinely 5 miles or more apart, one is the posh end, coconut grove is the shanty end of the town. The Coral Beach site is very defined as it actually joins to the town of Trairi and also to the lagoon at the back, the river to the east and the town of flecheiras to the west. All the site is north facing.
Also, I am confident this project will go ahead, my seller in Natal was my brother in law, he hadnt checked his paperwork so he was selling me land he had never owned that he thought he had bought 6 years ago. He has got his money back and it was held believe iit or not. He has made a killing on his money from the transfer, over 40 or 50% with no effort, so it worked out ok. He is buying with me in Coral Beach as it is the same price that he originally paid 6 years ago, nearly 7, but now he is investing profit from the XE rate. great news!
I am buying 4 i rekon, and its sitll half the price of the 4 I was going to buy in Natal. He is buying another 4. We intend to build 4 villas on the 8 plots and rent them out or sell them on as villa community, its a nice plan and we fancy becoming the developer and making the profits you all seem to make.
I have priced apartments and villas here, and i can build for 100k and sell for 200k today, so by the time its built, the area has appreciated and the market moves on, I am sure that could be 300 for the right property. Also this is a resort, so that will add value, its not just a villa in the middle of no where.
Its a sensible plan, and I am aware of the risks, but as I am not building for a year, I can see if I have made the right choice before I over commit. Do you not agree?
I guess my reasons are the same as everyone elses, and is why us diligent investors discuss here.
And another thing, NEVER BUY LAND OFF MY BROTHER IN LAW IN NATAL
