read this if you have invested in Lagoa do Coehlo

[rich devaney]

As an investor in Lagoa do Coehlo i would be very intersted to speak to any other investors and anyone who has any information on what is happening with the development...... i understand there is a group mainly Spanish who are in the process of taking legal action against the developers, they are trying to contact all investors with a view to everyone joining forces and reducing the solicitors fee`s..... please get in touch

[oregen]

Thanks for the information

Mr. Devaney,

Sorry to hear about this but it sounds like another real estate scam in Brazil.... take a number, and have a seat.

Do you really think you'll get your $ back?

Either way I wish you luck.

[JMBroad]

The developer is a large Spanish developer and the majority of the affected investors seem to be Spanish so there is a good chance that something will come out of it.

[michaelbush]

Originally Posted by JMBroad

The developer is a large Spanish developer and the majority of the affected investors seem to be Spanish so there is a good chance that something will come out of it.

John -can you please look at the Tribuna Do Norte - 22 may 08 - I was reading today that Nicholas Matteos has new partners - a firm called Terravisa SA - Spanish- and all will be well. The article is quite long and is worth the read, as there are issues that buyers will be interested in.

Originally Posted by JMBroad

The developer is a large Spanish developer and the majority of the affected investors seem to be Spanish.

IMO, Espanolos are close minded and they don´t like foreigners, especially Americans. I also heard of a large group in northeast Spain, they want to form their own little country. I have Brazilian/Colombian friends living in Madrid and they say the Spanish look down on them and refuse to talk to them. They work service jobs. I was in Spain last year for 60 days and I think most, but not all Espanolos have an ego problem. That said, I'd rather work with down to earth simple folks that are not snobby.

Mr. Devaney, keep us posted how things move along.

[michaelbush]

Originally Posted by michaelbush

John -can you please look at the Tribuna Do Norte - 22 may 08 - I was reading today that Nicholas Matteos has new partners - a firm called Terravisa SA - Spanish- and all will be well. The article is quite long and is worth the read, as there are issues that buyers will be interested in.

The link to the article is as follows
Tribuna do Norte - O melhor jornal para o melhor leitor.

[JMBroad]

Hi Mike

It's an interesting discussion however that part of the newspapers website is a blog, aka although it is a journalist writing it, it's his opinion, not necessarily researched and verified, just an opinion open to discussion.

I don't know if it's true that they sold part of the company out - to be honest once I arrived on site and saw the location and compared it to what the developer had told me (which obviously didn't match) I lost confidence in the project. I was told a variety of different things regarding the development and the stages of the development which simply weren't true.

I don't remember reading about the sale in the Spanish newspapers either but I might have missed it. Either way they have to redesign the project, get new applicable licenses and prepare all the marketing material - so I'd assume it's going to be a long time before they are ready to start selling again, let alone start construction.

[rich devaney]

Originally Posted by JMBroad

Hi Mike

It's an interesting discussion however that part of the newspapers website is a blog, aka although it is a journalist writing it, it's his opinion, not necessarily researched and verified, just an opinion open to discussion.

I don't know if it's true that they sold part of the company out - to be honest once I arrived on site and saw the location and compared it to what the developer had told me (which obviously didn't match) I lost confidence in the project. I was told a variety of different things regarding the development and the stages of the development which simply weren't true.

I don't remember reading about the sale in the Spanish newspapers either but I might have missed it. Either way they have to redesign the project, get new applicable licenses and prepare all the marketing material - so I'd assume it's going to be a long time before they are ready to start selling again, let alone start construction.

Hi just to let you know i recently managed to get in contact with the representative from Group Mateos and she confirmed that 40% of Lagoa has been sold to a very large developer (torravissa) they are now in the process of redesigning aspects of the development, which sounds to me like they cant sell enough units so are building less, but what do i know im just one of the poor suckers trying to get my money back ..... anyway cant win them all i suppose.... please keep me informed if you hear any info... regards rich