For those with more money than sense ...

The former Pretty See ranch on the Old Northern Highway near Maskall village, now called Altun Ha Jungle Resort & Maskall Golf Course, is going on the auction block September 27. The property has a little over 1300 acres, a small lodge with four cabanas and a 9-hole golf course.

The property has been for sale for awhile for around US$6 million (yeah, right). Minimum bid is US$1, according to the auction house, Christenson Elms.

For those who remember it, Pretty See was a very nice moderately priced lodge. It closed three or four years ago.

--Lan Sluder

Wha ever happend to the owner Pamela. Is she still in Belize? What a character!!!

Hi Lan: Do you happen to know if that golf course is still being maintained or is it going to seed like St Andrews. I read and enjoyed your last venture. Take care: Bill

Barbara,

Last time I heard from Pamela, she was in Italy. That was probably a couple of years ago. Think she was pretty bitter about how she had been treated by the Pretty See land owner.

Bill, I haven't seen the Altun Ha course recently. It was more of a marketing concept than a golf course.

--Lan Sluder

For those with vivid imaginations.

and big trust funds

I will take it over if you fund me with your trust.

trust me

The resort has a minimum bid of $1,000,000. Is it worth more than that? If so, how much more? Any informed opinions out there?

Thanks, Tom W.

If all the heavy earth moving machinery is included it is a steal at 1.1 but you would have to check if the vehicles have not been tampered with-the golf course and everything else is dilapidated but a GC will make money,imo,within 5 years.

My humble opinion: On any kind of realistic discounted cash flow basis, the property is probably worth a few hundred thousand dollars US. There are four cabanas and what could be a restaurant that in a good year might generate $75K to a $100K and net at best 10 or $15K. The golf course, such as it is, in a good year might attract a few hundred golfers. The land is bush whose highest and best use is growing marijuana -- otherwise what in the world would you do with it? Run a few head of cattle, cut a little timber? There's nothing nearby other than Maruba Spa and Altun Ha ruins and some shacks. It's on the Old Northern Highway in an area that's mostly swamp and mosquitoes.

--Lan Sluder

Lan, I think you just totally contradicted your analysis of the value of the property based on cash flow with the observation that the property is good for growing marijuana.

ByWarren,
Cash flow analysis is totally based on establishment of a realistic "cash flow" if you cannot confirm cash flow from a cash crop it is not included in the analysis. Can anyone confirm "maryjane cash" if not do not include it in the long term analysis of cash flow. KBG just some thoughts in the PM>

Excellent point. Let me see if I can find similar business tax returns that will give us a basis for accurate analytical comparisons. :rolleyes:

Just a by the by for Peter, so u can get info to put in your bid: http://www.christenson-elms.com

Any info on how the auction went? Did the property sell? If yes, how much?

Tom W.

The auction was canceled :rolleyes: . Call the auction house, they are still taking offers.