Portofino Resort- Now with a new BEACH BAR!!
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#98891 - 03/12/05 05:35 PM If it seems too good to be true, It likely is?
brewkettle Offline
My wife and I returned from a fantastic stay at Belizean Shores last Sunday (3/6)or(6/3), whichever you prefer. In a San Pedro rum soaked haze, we agreed to listen to a time-share schpeeeel (thats what Gustavo called it) at Captain Morgans. We took a short walk down the beach and gave them an hour of our time. I've made it through my 1st 44 years without a time share and will probably make it to the finish line without one.
For our time, they gave us each prize. I won a $25bze gift certificate (which we used for dinner with out incident) and my wife won a weeks stay, all taxes and gratuities included. We just booked it for 7/2 (or 2/7) for $89US each processing fee.
So here is my question. Does anyone out there have any 1st, 2nd or 3rd hand knowledge of what we are getting in to? I figure I can ward off the onslaught of feable "CLOSINGS" the will throw at me. But where is the catch? I know its no Belizean Shores or Victoria House, but almost free is for me!

Waiting for the other shoe to drop?

BREWKETTLE :rolleyes:

#98892 - 03/12/05 10:57 PM Re: If it seems too good to be true, It likely is?
Lots of resorts doing this. If you have the strength of character to be sure you will resist and not yield, then go for it. Just be prepared for a bit of ear-bending.

#98893 - 03/13/05 12:21 AM Re: If it seems too good to be true, It likely is?
Just be VERY careful! I have heard that's what the people who stole my company plan to do at Caribe Island. The problem is that the units are already 100% owned.
Now, I know Captain Morgan's and believe they are on the up and up..... but BUYER BEWARE!
I have just gotten a response from a letter I wrote to the US State Department, and I expect a WARNING to be issued by them against investing in Belize, including property and condo ownership.l

#98894 - 03/13/05 04:38 PM Re: If it seems too good to be true, It likely is?

e-mail me when you get a chance.

#98895 - 03/14/05 01:55 AM Re: If it seems too good to be true, It likely is?
brewkettle Offline
Thanks Pedro2, If you can, give me a list of other resorts doing the same. Why buy if I can just move around and stay free? laugh

#98896 - 03/14/05 02:51 AM Re: If it seems too good to be true, It likely is?
Chris Offline
Ibanole, I recommend the U.S. state dept. make the following warning against investing in Belize: Don't invest in Belize unless you have done your proper due dilligence and unless you are prepared to follow the laws of the country you are investing in...in this case, Belize.

Same advice goes for any other country, including the USA.

#98897 - 03/14/05 03:41 AM Re: If it seems too good to be true, It likely is?
Come on, Chris, there's more to it here. Possession of a valid contract is good protection in most first world countries, but it counts for little here.

Just make sure you never part with money without being sure you have already received value for it. NEVER trust anyone to give you anything later, not even 30 minutes. And never trust anyone who has possession of your property, however waatertight your ownership may be in theory.

This is at all levels - I was advised recently by a boat mechanic not to trust anyone to do a job unless I personally check it thoroughly at stage points and afterwards, and not to pay anything until I have first-hand evidence that the job has been done properly. Sound advice. But in the US or UK I feel safe in relying on the law to protect me if, for example, someone claiming to have replaced a piston hasn't done. Not here, not at all. THAT's the difference.

#98898 - 03/14/05 02:27 PM Re: If it seems too good to be true, It likely is?
Chris Offline
pedro2, I was thinking more of large-scale investment on properties, businesses etc, not on oil filter changes at the garage. The fact is, there IS protection under the law here especially if an investment is properly researched and the agreement recorded. It's important that all the t's are crossed and the i's are dotted. If in doubt hire a Belize attorney.

Mexico has a HORRIBLE reputation for ripping off investors, especially in real estate....at least it does if you search the Internet. It didn't stop me buying a house near Guadalajara last year. I just did everything properly under the law.

One more point and it IS a valid one here although it's probably too late to help ibanole: Belize has very simple tax laws. One of the taxes that hotels have to pay is the Belize Tourist Board hotel tax. Another tax that businesses in general pay is the Sales Tax. Both are taxes that get charged to the customer and paid by the business. My advice is don't mess with these particular taxes..pay them in full. There is serious trouble for cheating and getting caught........

#98899 - 03/14/05 02:43 PM Re: If it seems too good to be true, It likely is?
We have NEVER missed a BTB nor Sales tax payment. We have done things the proper and LEGAL way-- including the necessary greasing of palms when necessary.
The by-laws of this strata plan were very plain, however, these men broke their own by-laws. Under Belize law, and the advice of our 3 attorneys, is that this simply cannot happen. Well, it did happen. We have provided all requested paperwork and proof of this, and it will ALL be published on the internet soon, so everyone can see that this can and has been done.

#98900 - 03/16/05 01:06 PM Re: If it seems too good to be true, It likely is?
brewkettle Offline
It looks like there is no "HOOK". Cristie from Captain Morgans was very helpful. We recieved our confirmation yesterday that stated it was a FREE WEEK with a zero balance due. We are really looking forward to our second visit this year. Their new store had just opened at the beginning of March and appeared to have the best selection north of the cut.
Hey, where do we go for fireworks on 4th of July? If ChooChoo brings the pyrotechnics, I'll bring the burgers and rum.
All together now "OOOOOOOO", "AHHHHHHHHH"

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