banana residential club

[beenthere]

Originally Posted by IPIN

... as an IPIN recommended investment ...

Hold on, you say this is an IPIN recommended investment, but it sounds like neither you nor anyone in your company has even been to see the place!!

So who is it recommended by and why, or is it recommended just because you can get a good commission.

Sorry I forgot to mention:

Originally Posted by IPIN

According to the developer, the roads leading into Cambuco are in a good condition, and even better than the likes of the main highway around Marbella, Spain to give some perspective.

Does that mean that Cumbuca has highways leading into it that you can drive 220 km/h on reasonably safely (yes I know it is illegal)? That is how fast I was driving on the tollway the last time I went to Marbella. What planet are you on? and if the developer is so obviously lying, then why are you selling their products......

[marsdei]

Originally Posted by IPIN

Firstly, Banana Club has never been a camp site. It has a camping area for the kids to camp out on weekends, but nothing which has ever been intended to be an ongoing concern. Banana has taken 4 years to be approved and you can see from the Google Earth co-ordinates that previously there was nothing here (Google Earth has only been a tool available for a couple of years). The infrastructure which can be seen on the site at this time has been created exclusively for the Banana Residential Club project.

Please take a look at www dot bananaresidencial dot com dot br

IPIN could you just please tell us then if your statement is correct and it was never the intention to have it as a going concern then why did they build a pond, volleyball pitch, put camping sign outside (you wouldn't know it was there unless you had been there), build the wooden marquee, laid the lawn, built the wooden bridge etc etc? Surely not facilities for new developenet?

[andyk2]

I am at a loss to see either the value of your posts, or what point you are trying to make? The site at Cumbuco on which Banana Residencial Club is going to be built may or may not have previously been used as a camp site - at least it was´t a nuclear waste dump! The villa plots were originally put up for sale on an individual basis. They didn´t sell. IPIN was presented with a genuine investment opportunity and alerted their clients. Can you deny that finance at 8% when the base rate in Brazil is 13,20% (and unavailable elsewhere) is a bad thing? Can you deny that by advocating charging domestic rentals in an area where alternative accommodation is certain to be inflated is bad advice? Can you deny that on completion/within 2/3/5 years, these properties are likely to significantly appreciate in value? As I made in my post to "Garytarifa", it´s all about investment - not about how fast you can drive or whether it was once used as a recreational area for kids. If you feel this is a poor investment, then look elsewhere - your attempts to slag off IPIN and the motives behind it are demeaning to yourselves and does nobody else any favours.

[beenthere]

Originally Posted by andyk2

I am at a loss to see either the value of your posts, or what point you are trying to make? The site at Cumbuco on which Banana Residencial Club is going to be built may or may not have previously been used as a camp site - at least it was´t a nuclear waste dump! The villa plots were originally put up for sale on an individual basis. They didn´t sell. IPIN was presented with a genuine investment opportunity and alerted their clients. Can you deny that finance at 8% when the base rate in Brazil is 13,20% (and unavailable elsewhere) is a bad thing? Can you deny that by advocating charging domestic rentals in an area where alternative accommodation is certain to be inflated is bad advice? Can you deny that on completion/within 2/3/5 years, these properties are likely to significantly appreciate in value? As I made in my post to "Garytarifa", it´s all about investment - not about how fast you can drive or whether it was once used as a recreational area for kids. If you feel this is a poor investment, then look elsewhere - your attempts to slag off IPIN and the motives behind it are demeaning to yourselves and does nobody else any favours.

Andy2k, I think your defensive answers speaks volumes about this "IPIN recommended investment".

This is a public forum, so if you choose to promote your products here you have to be able to accept the criticism that may result.

[deedee1]

Hi all,

At the end of the day an investment is based primarily on location- so if you still buy in an amerging market but lack the location factor it doesnt necessarily mean you will make money from it!!!

Brazil is a huge country and many investments to be had but if the location is wrong then it is useless to all!!

What will be your strategy and who are going to be your end users with so much on the market with primary and more convenient locations and security!!

Hi ANDYK2-Hows JDLR doing??? Yet another classic example of the lack of location factor!!
You previously mentioned that the villa plots for banana were on sale before and did not sell- whys this???
Does IPIN have a habit of taking on developments that are in trouble??That are not selling well???
Do you question the reasons why this is ...?? More importantly do you clients question this...??

See ya D

[andyk2]

Morning D,

Agree entirely with you about location. The Banana Club is located in an area with a strong existing domestic market. If it were beachfront, "end-users" would experience constant strong winds and currents too strong to swim in (also believe the water is very salty). Most holiday makers (apparently - cos I´ve not been there!) choose to swim in the freshwater lagoons that surround the area, and the Banana Club has two such lagoons in close proximity.

In terms of strategies - IPIN already discussed the BTL aspect and, at such a low entry point, clients wishing to flip before/on completion should have the option to do so (maybe more so than in the larger resorts currently being marketed). The development is a gated community with 24 hour security, so security inside the complex should not be an issue.

JDLR is going well. The preliminary presentations were made earlier this month and the response was very favourable (apparently - cos I wasn´t there either!). There was a newsletter sent out to all the clients who reserved on JDLR last week. I still believe that JDLR and the Banana Club are still good investments. It´s okay to question factors in product that´s presented as an investment, but you cannot deny that IPIN is innovative in some of what it´s trying to do. Look at Porto dos Corais - one of the first Brazilian products to be released on the market. IPIN picked it up, worked through all the contractural issues, overcame problems with the transfer of funds and legalities (previously clients had to fly to Brazil to do their own snagging). Now, clients that invested at the earliest stage are seeing capital growth on their investments of 40% within 9 months.

The only reason that the Banana plots did not initially sell well was down to marketing. Even the best located opportunities need a nudge to bring them into the public spotlight. Believe I mentioned before that IPIN were presented with an opportunity, saw its potential and offered it to its clients. Any client who acquired a prime located unit on release can go to PPC now and resell with a 50% gross gain - such is the limited availability.

Rather than rescuing ailing developments, IPIN are exploiting investment opportunities for the benefit of its members - "building wealth through intelligent property investment" - 40% at Porto dos Corais & 50% at The Banana Club. When outline planning is awarded at JDLR, clients should looking at gains of over 100% - that´s not a bad track record.

Any questions - the numbers etc are on the IPIN post.

Andy

[deedee1]

Hi all,

Andy -I appreciate some of your comments but unfortunately for mr I am struggling to see " WHO " The end users will be ???

I have also heard that the lagoons are not as fantastic as people are making out and infact are ridden with mossies, sludge and nettles!!But there are those who are trying to sell off the back of them to compensate for the lack of being beachfront OR lack of ammenities nearby!!

I am not saying that a great investment is a beachfront one at all- but like I ve mentioned before brazil is a HUGE country and I would rather be in a location that I know about and where others are located aswell than rather than one I dont know ANYTHING ABOUT??? Who knows where youll end up??

The banana is a great development I dont doubt that- but your clients have to be aware that there may be pitfulls in the long term i.e- selling on, rental incomes, transportation, market choices!!!

As for JDLR- Still dont share your enthusiasm Im afraid as this definately is the case of "WHO & WHAT ARE YOUR END USERS??? Taking into consideration the spainish markets decline and oversupply!!!

Its not a personal attack against you personally Andy so dont be offended its just my personal opinions and thoughts on the subjects- thats what the forums for -right!!!

See ya D

[LisaUK]

Originally Posted by deedee1

Hi all,

The banana is a great development I dont doubt that- but your clients have to be aware that there may be pitfulls in the long term i.e- selling on, rental incomes, transportation, market choices!!!

I think these pitfalls relate mainly to the short-term so they could be a worry for anyone looking to make a fast buck or anyone banking on an immediate rental income. In the long term (15-20 years) my own feeling is that the areas which stretch North and South of Fortaleza will be one long urban sprawl stretching inland, with little to differentiate the localities. I think that in this time-scale the landscape will be completely different - lagoons will be cleaned up, roads will be surfaced, amenities will be developed, etc.

Personally I am in it for the long haul (10 years plus) and I am looking at it as speculation rather than investment, i.e., capital appreciation as opposed to rental income. I guess people would argue that if I purchase beach-front I can have both but I am sceptical about rental returns in NE Brazil in the short-term. I base this on the lack of tourists around in Fortaleza and Natal in April and comments made to me by locals and ex-pats. My £50k (I am not ordering the extras because I am not expecting any rental returns) still gets me a 3 bed villa as opposed to a 1 bed apartment which I am happy to sit on for the next decade, at least. My only concern is that the site remains secure for this period of time as I was warned about vandals and squatters who target empty properties.

These are just my opinions, which I base on my own circumstances – who knows, in a few years tourists could be flocking into this area all year round. I am relatively new to forums and I think the great thing about them is that you are exposed to a diverse range of views and opinions. Another great thing is that people like Wolfgang take the time and trouble to post candid on-the-spot-reports even though he is no longer personally interested in the development – thanks Wolfgang!

Andy – at the end of the day you are an agent so it's not surprising that people take what you say with a pinch of salt. Any agent would be doing their client (the vendor) a great dis-service if they pointed out the negatives on a development.

[rossi2006]

Originally Posted by wolfgang

Dick,
There is some merit in your views though i would not entirely agree with your prognosis that Cumboco is the best resort within easy travel of the airport.As the access roads to the South from Pinto Martins airport are brand new dual carriageways (as opposed to single lane potholed surfaces) it is possible to access beaches as far South as Praia Dos Fontes and even Morro Branco( which (imho) are superior to Cumbuco) in exactly the same travel time.

Neither must we accept and dismiss crime as an integral component of the decision to purchase in the Fortaleza area.We have the luxury of informed decision making and above all ,choice.Just a 30 minute drive South of the city into the more affluent suburbs and the area is charactersized by virtually zero crime.

I have just returned from Cumbuco and to not agree with your post
Did you really vist as i was told that i was the only other person to visit to date from the uk. and the other was not you his name was oliver.

The Roads are fine and new leading to the development this you can see
from the fotos.



You visited Porto dos Corais i see from this Forum you prefer the situation there work stopped broken down digger and no road access is this because you sell and recive commisions from them.

[LisaUK]

Originally Posted by rossi2006

I have just returned from Cumbuco

Hi Rossi

Maybe you could expand on your post regarding your impressions of the location of the site? Also, did you meet any representatives of the developer? If so, is there anything of interest that you would like to share?

Were there many domestic and / or international tourists around in Cumbuco? Did you notice much in the way of activities on the Banana lagoon?

Any info that you feel you would be able to share would be appreciated.

Thanks.