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Re: VILLA 15

lol just got back from my owners meeting. As I look back at my posting over a year ago I see that once again the promise was made to have the golf course open by now and all they can show is some flags in the sand. I also found out that if you buy your unit on the resale market, the golf benefits do not transfer. I was told very clearly that everything transfers even the golf benefits. I will go to the Quivera meeting again tomorrow (as I did last year) just to get the new vision and hopefully get a sniff of the peyote the sales people are smoking. But here are some things from my owners meeting: Q: Now that Phase 1 is completely sold, how many units were held back by the resort. A: ...long drawn out BS but eventually he showed me the current PH 1 sales book and admitted that about 10% remain open. Q: Of that 10%, is the resort putting in their $300 per day maintenance fees just like we are? A: Well we have to hold some back in case there is a maintenance issue with one of the other units. (I took that as a NO) Q: over 10%? And do the owners then own those in common since we are all paying the maintenance in perpetuity? And they will never be sold? A: Yes, No, No Q: How do we know that this is the true cost of maintenance. A: (pulls out a book of golf club membership dues) Look at what all these other clubs charge for dues. Q: But I didn't ask about golf club dues for a golf club that doesn't exist. I asked about Maintenance costs? A: It is truly that expensive. Believe me! (Obviously I don't believe him) He then proceeded to tell me that I could pay another $50K and trade my current weeks for Phase 2 which have an additional 5 or 6 feet between them and better ammenities inside. For some reason I didn't even find that humorous. I simply and very calmly replied "Let's see if you can ever deliver what you promised years ago. Then we can talk about more money". Later, after I had left, he came running outside and said, "By the way Mr. Davis, since you bought on the after market, the golf does not transfer to you. but if you spend just $7000 and by our cheapest timeshare, you will get the 50% off (on a nonexistant golf course)". I told him, there was not enough koolaid in the world. in other news, I did purchase a year round freehold in another preconstruction resort in the Carribean where you are not in competition with the resort and they have a Gary Player golf course that will actually be built prior to the rest of the resort opening and all like units share in the rental proceeds. like $2000 annual maintenance fees and everything else comes out of the resorts 50% of the rental proceeds they take in. 50% is high but no taxes, they maintain everything else from their cut, and you still get 2 weeks in the high season and 2 weeks in the low season to use as you will. This one is definitely billed as an investment vehicle so that the resort is not dependant on the banks and they tell you that up front (good thing as things have turned out this year). I am not a sales guy for them and I don't get anything. In fact, I think it is already sold out. But if you want to check it out search for The Marquis Estates in St. Lucia.