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Roatan and Bay Islands Discussion List Archive
| Posted On: | 28-Jun-2005 |
| From: | Moe Williams [new3dbee.....com] |
| Subject: | Re: [roatan] RE: HGTV |
that would be cool --- Sharon Provost wrote: > I am especially interested in your HGTV project. I > live in the twin cities > and back in 1982 Jason Davis of KSTP channel 5 (st > Paul) traveled with us to > Roatan and did a 4 part series on Minnesotans on the > island. I have lent out > my one copy to a friend for transferring to a DVD - > if you would like a copy > I will send it to you when I get it back. > > Sharon > > -----Original Message----- > From: roatan.....com > [mailto:roatan.....com] On Behalf Of > Geoff Arms > Sent: Saturday, June 25, 2005 11:53 AM > To: roatan.....com > Subject: Re: [roatan] In depth update Viva Wyndham > and Mystic Harbour > > > Moe, > I hope you'll let us all know the date they plan to > show the segment on your > move to Roatan. Thanks, Geoff > ----- Original Message ----- > From: Moe Williams > To: roatan.....com > Sent: Friday, June 24, 2005 10:34 AM > Subject: [roatan] In depth update Viva Wyndham and > Mystic Harbour > > > First of all. I don't live on Roatan yet but will > be > arriving this fall with future wife, dog, and cat > in > tow. > > We have met many of you on the forum in person and > are > looking forward to meeting others as we adjust to > the > goods and bads of living there. Eyes wide open. > > I took it upon myself to get ahold of who I could > about the Wyndham project and the following is > from a > brief but detailed discussion with Watermark > Resorts/PriceMorgan who are doing the > preconstruction > sales. This information is nothing but notes from > that conversation and I CANNOT CLAIM THAT IT IS > EITHER > FACT OF FICTION it is just what the guy shared > with > me. > > I spoke with one of the principles Watermark / > PriceMorgan LLC (we won't use his name out of > respect). > > 1) Supposedly the developer is Rick Mortel ( > couldn't > read my own notes very well so could be wrong name > ). > > 2) He was working on a hotel deal with Wyndham > but > they are NOT building a hotel there. Just for > those > who might not understand, many companies like > Marriot, > Wyndham and others have distanced themselves from > brick and mortar(B&M) efforts. I am sure the fact > that it is too capital intensive, other related > litigation risks, and the fact that management > contracts are much easier to forecast to all play > a > role in that approach. > > 3) They did license the name to him and supposedly > have signed an agreement to be the management > company > for the project. So the units will enter a > network > and the time can be shared. Since Wyndham signed > the > management company agreement, they also had their > architect involved during the whole process as > they > needed to make sure it is effecient for them to > run > the operation when completed. > > 5) Watermarks / PriceMorgan claim they have > invested > in the development after doing a lot of due > diligence > themselves. The guy said that the former Governor > of > the Bay Islands is part of the project as he owned > much of the land involved (that might explain why > people on the forum said the developer does not > own > the land). A smart developer might not try to eat > the > cost of the land and instead cut a joint venture > with > the land owner to provide development of the > project > and than share the profits. In addition, the guy > from > PriceMorgan said he had checked with the Minister > of > Tourism to see if the country was prepared to > support > the project. > > 6) He claims they have presold 200 units already > of > the 250 in the first phase. The money for > preconstruction is being held in escrow in Destin > florida. > > 7) Stewart title and First American are > supposedly > going to handle title insurance when the closing > of > sales and such gets moving. That would be why > Stewart > Tile is giving no assurances. Remember these are > 1/8 > share units with multiple units on the land. A > title > company can't possibly provide Title Insurance > until > the units are done, they can do a search on both > land > title and any encumbrances on the structures. > Only > then can they provide Title Insurance. > > 8) Remember these are 'pre-contruction' sales > which > are always risky unless you know the developer and > can > see a tract record of success. We all know how > that > goes. Neither good or bad, just a fact. You want > better returns you take more risk. Sometimes you > win > sometimes yo lose. > > 9) He said the footings for the units should > start > coming out of the ground this fall and it will > take > 1.5 years for the project to really get launched. > i.e > units built, ameneties in place, etc. Also he > said he > is looking at this as a five year project which is > realistic. Things take time as you all know very > well. > > 10) He also indicated that they purchased, the > developer did, 17 acres adjoing the property to do > some other things. > > Well I hope this makes sense and helps with some > of > the questions. > > Gary > > P.S. HGTV is doing a House Hunters episode that > will > feature Roatan. How do I know this? They are > using > my future wife and I as the folks moving to > Roatan. > They have already filmed at our house in Minnesota > for > the first part of the episode and will be > traveling > with us to Roatan next month ( July ) to finish > the > shooting. Good PR for the Island. So let's be on > our > best behavior :-) Just joking! > > > > > > > > Roatanet.com: Visitors Guide To Roatan and the Bay > Islands > === message truncated === _____ Do You Yahoo!? Tired of spam? has the best spam protection around http://mail.yahoo.com http://www.roatanet.com To visit your group on the web, go to: http://groups.yahoo.com/group/roatan/ roatan- : | |
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