Portofino Resort- Now with a new BEACH BAR!!
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#132801 - 11/11/06 06:47 PM Looking to Buy Small Bar, Restaurant, Accommodations;LOT
alagraha50 Offline

My partner, Heather and I, are looking to purchase a SMALL bar/restaurant/accommodations business or combo or even a lot perhaps to build same either in Ambergris Caye or on the Costa Maya.

We currently live in Yucatan and know Costa Maya very well and have been to Ambergris Caye but not in awhile (we know it has changed a lot!)
We also owned and lived in our own small hotel
in New Orleans for many years so know the business.

We take a boat from Xcalak to Ambergris on Dec 1 for several days there and then return to Ambergris again for a followup just before Christmas so this is a serious search.

No BIG BOY GRANDIOSE replies please, ours is a small, modest endeavor but will be a cash transaction anywhere between 100,000 and 600,000 depending on whether it is a commercial/residential zoned lot OR an existing turnkey business OR some kind of renovation; depends on location and condition of property as well as other factors.

So we look forward to any and all responses EXCEPT FROM REALTORS, SORRY - WE WILL ONLY DEAL DIRECTLY WITH OWNERS.

Reach us at streetcar@earthlink.net

Thanks a lot,
Alan and Heather

#132802 - 11/11/06 10:11 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
streetchie Offline
You shouldn't have a problem at all with that kind of cash on hand. In fact most places on this island are for sale for the right price.....just don't plan on making much money. I believe that the Palapa Bar is still for sale, start there.

#132803 - 11/12/06 01:30 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
Scuba-John Offline
Perfect I am looking to sell my ownership in a local resort. The resort has just changed hands and is being reopened in December.

Perfect starter kit for ya. PM and I will send details.
I read it on the internet so it must be true.

#132804 - 11/12/06 09:20 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
Pedro1 Offline
Scuba John -perhaps you can explain how your % works-how everyone is protected -in other words if someone owns 51% they cannot ride roughshod over the remaining % holders

#132805 - 11/13/06 04:25 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
Scuba-John Offline
Pedro1, You bring up a very good point.
While the Companies Act 250 can provide protection against a Majority shareholder riding "roughshod" over the other shareholders this is not always the case.
If a Majority owner sees fit to abuse the trust placed in them by an investor who places their hard earned funds with them, the only real recourse is to hire legal resources. This can be a crapshoot and in then end you can come up with nothing years latter. This is one tactic used to avoid the rights of other minority shareholder.

So to answer the question somewhat, “ explain how your % works-how everyone is protected.”
In Belize unless you own the whole kit and caboodle, you stand to loose your investment, if your investment is with someone who can put on a great show, play to your “LIVE THE DREAM” dream, and elude to the idea that the reason everyone in town is bad talking is due to jealousy of their success. In the words of an honest person “Unless you see me doing it, I would not believe what you hear. They are just jealous.” Don’t be fooled by the research with the registry, some companies fail to file for years. This failure can leave unaccounted for shareholders in the lurch, allow for the false presentation of the worth of a company, and hide the true nature of the quest for investors. One final clue and hint are this. If can not see or have a part in the accounts of the company be it held in Belize or the USA or both turn and run as fast as you can. If the accounts are commingled with personal accounts because there have been no other owners or shareholders or no need to define business and personal matters, RUN EVEN FASTER. Nothing is transparent when it comes to accounting. It all must be seen and checked. Do not take the word of a “no bull**** guy/girl” it is most likely not true. But be careful the best of the best confidence men mix truth and lies so well that it appears to the educated it has the ring of truth and if your looking to live the dream well…….

In that response, don’t read that there are no trustworthy and honest business owners or shareholders; it is a word of advice.

If you are buying "part" of a business do not let the seller/owner feed you a line of crap. Because you own does not mean you get a work permit. As an owner you cannot assume you will even get a work permit. YOU CAN live in your own house, home, or resort with out anything but a visa. YOU CANNOT WORK until you get said permits or became a resident. Those requirements can be found elsewhere.
I read it on the internet so it must be true.

#132806 - 11/13/06 06:19 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
captjeff Offline
Scuba john "" Have no freakin idea what you said above or what your where trying to say.But I think living the dream is a feeling of happiness and contenment!!! And that feeling should never be used with stupid or poor business decisions it gets in your way..!!!!In other words if you invest$$$ any money to live the dream and want look for the pie in the sky.Check it out first !!!! Or you will Wake up and find out your dream is a nightmare !!!!!
Living The Dream Every Day!

#132807 - 11/14/06 01:18 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
Scuba-John Offline
You are changing the topic? The question or request was about property for sale by OWNERS. I own part of this newly renamed resort and I am wishing to sell my shares. Pedro asked a good question about shareholders and the percentage that they own, how they are protected. It does not take "stupid or poor" decisions to be taken in by a confidence man/woman. You should be able to ascertain that even with good research the failures of the Belize system of "share sales", "fractional ownership" or "timeshares" fails to provide any protection from a well oil story, and the mixture of truth and lies used to attract investors. In fact it can be used as an advantage.

But to the point, since the new owners are good friends of yours why dont you put your money where your mouth is and buy the shares. If not offer something other than your feelings or thoughts about this or that and on topic.
I read it on the internet so it must be true.

#132808 - 11/15/06 05:00 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
captjeff Offline
Since your still babbling ,Here is the deal,the people who bought the place who are my friends have nothing to do with your point above .You made a deal that you said you got screwed from the old owners not them .Stupid is, as stupid does ..Me buying your shares has nothing to do with the bad investment you made.And yes I made good investments and a few bad ones, but I made more good deals than bad deals .But not once did I cry over the bad ones I made ,I got over it..And if I wanted to be in the hotel business I would buy a hotel or two myself not with partners or with shares ,I could not control.Now please grow up and stop complaining and whinning..
Living The Dream Every Day!

#132809 - 11/15/06 06:43 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
Scuba-John Offline
Your not looking to buy these shares then relate your own personal deals with a share purchase or business in Belize. But since you bring it up if it is a bad investment then I guess you are saying that the new owners fail to see the shares as valid and are working to move the company property to another name. Or is what your saying is that since I purchased the shares from the old Owner(only one) and he sold the company the shares are no good because the name changed.

Again a pitfall of the Belize law is outlined. Change your name and invalidate the shares you have already sold. Sell your company and the shares go away.

I will not sit back and let my money be taken with out benefit. If your friends do not wish to honor the contract that was in place and buy back the shares then they should provide the proper company accounts and at least make the effort to contact the shareholders with out having to take it to court. A perfect example of if someone owns 51% riding roughshod over the remaining % holders

Short of that I will sell my shares but I will not hide the truth of how they came about or what the new owners are doing about it now.

You know I should have listen to the voice of reason from yesterday. your not worth the effort.
I read it on the internet so it must be true.

#132810 - 11/15/06 06:57 PM Re: Looking to Buy Small Bar, Restaurant, Accommodations;LOT
captjeff Offline
Living The Dream Every Day!

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