Own the Future of Resort Property Development in Latin America
ECI currently offers consumers ready-to-own properties (houses, condos and lots) in beautiful resort communities in Ambergris Caye Belize and Nicaragua . Owners enjoy existing communities with the infrastructure and amenities expected by the North American consumer.
Just announced, the Belize Marriott Residences Ambergris Caye Resort, will embody the rich British colonial history while incorporating eco-friendly and sustainable practices.
Opportunity to Own an ECI Community Property
ECI is a private, diversified real estate holding and development company based in Belize with a large and growing market of baby boomers who want to own property in Latin America. With the continued economic turmoil in North America and Europe, investors, baby boomers, retirees, wealth managers and people looking for second homes are searching for alternatives that offer great opportunity, positive lifestyles and a new place to call home.
If you are considering property ownership overseas, you need to ask whether the development company is financially solid, whether they have a record of success and what their business plan is.
Buying a property in a foreign country is like getting married – you need to be very clear about exactly who you are marrying. Hopefully the developer will be around for many years and, if so, you want to be sure you are comfortable with the long term association. Ask to see a copy of a business plan. Do they have one? Ask to see the financial reports. As the buyer you have need to see that what you are promised is based in reality.
You need to know who they are and if they will be around for a long time, otherwise you are taking unnecessary risks with your hard earned money – there are no bonding agencies compelling them to complete anything they promise. You are counting on the people and company involved to make good now and for the next 20 years.
If they’ve promised an ROI on rental return, ask to see cancelled checks to owners. Words are easy – ask for proof. If they’ve returned 8%, 10% or 12% to owners, they’ll be proud to show you the cancelled checks. In addition, because financing is rare in the region, the developer should provide a form of financing as a buyer’s option. This shows financial stability. It also will indicate that they are not using your money to build promised infrastructure and amenities. Build-outs based on sales-flow can stall when the market is down leaving buyers with half built projects to complete and fund as a home owners´ organization.