Las Olas

Yes there is a development in Manta that has a golf course but not near water. Las Olas looks great to us.
Fran

Rafi,

You must be talking about a different Las Olas. The place you are describing is not the Las olas just outside of Bahia. I have five months worth of construction photos as recent as a week ago. Also, my parents are there right now with the architect for housing plans.

Regards,
Dean

Also, the road system is brand new throughout the country. I'm very curious as to where you actually were.

Dean

Hi
We were in the place called Las Olas with David, hE took us there, he took us down a dusty very bumpy dirt road that took us to the site of the future Las Olas. He tried to sell us a golf course lot as he claimed all the beach lots were sold. We were there in September and all we saw was a beach with nothing on it.
No construction or any machinery. He told us construction would start soon. I don't know we're you got your pictures of construction from, but not from Las Olas

You are not being honest. I'm not sure what you have to gain with these posts, but you clearly have an agenda to discredit this property.

Sorry for your perception, all I can tell you is that my wife and I were in Ecuador looking for a place to retire near Manta and Bahia. We were taken to the future Las Olas by David one of the promoters.

Once there there was nothing but empty land and no construction going on. He even mentioned to us that they will start shortly. We have no agenda, only stating what we saw in September 2013.

I even have pictures to prove my point
Have you been there ???????? In September ??????

I agree, I was out there 2 days ago and was blown away on the ground work that they have accomplished. Impressive machinery too.

David is not "one of the promoters", he is the owner. I was there the last week of April (construction equipment was on site), my parents were there in early July (construction equipment on site), and my parents are there right now (construction equipment on site). I can't imagine they moved all of the construction equipment so it wasn't on site in September since it is being used every day to clear land and build out the infrastructure. As to your point on the "bumpy roads", of course they're bumpy they are building out the infrastructure. You obviously would not pave roads you are running heavy equipment on, right?

Don't have a vested interest one way or the other, but this thread gives very different perspectives. It is the 21st century, couldn't someone who's visiting or living there post some pictures or video, and prove or disprove what's being said?

http://www.mediafire.com/view/bj75tswae … 100032.jpg

The first link is Las Olas in April.

The next links are from July

http://www.mediafire.com/view/3a973d5ka2kdc0w/20130712http://www.mediafire.com/view/i2yjfus3z … 712_131254

The next are from September

This one is a picture of David's wife sitting in the wheel of construction equipment
http://www.mediafire.com/view/aj9aaw66n … aper_4.JPGhttp://www.mediafire.com/view/c56iya4ss … aper_2.JPGhttp://www.mediafire.com/view/jvzj3f6y1 … 901_151602

Thank You!

We just returned in August from spending almost three weeks in Ecuador. What an amazing country. Las Olas is a world class site and will be a world class development. We had the opportunity to spend many hours with David and his family on the site. Much work has taken place. Roads have been built and the land has been cleared for the golf course. With the recent arrival of the large scraper, the front mountain along the ocean will soon be removed. This will open up views to the golf course lands.I am very happy that we purchased an ocean front home and look forward to watching this community develop.

Norbert

Norbert, I hope this community works out for all parties involved. At this point to make an investment in the project is a "gamble" that the project will be completed and attract sufficient others to be a financial success. I would only do so if I was comfortable that a total loss on my investment would not significantly affect my quality of life. The option is to defer the investment until the project is completed and success is apparent. The increased cost is "insurance". If you are making the investment now because you can't afford the higher price later, you probably should not be risking the investment.

Thank you for your concern. However, I have completed my research, visited the site, met with the owners and am extremely confident that the project will proceed as planned. I have been invloved with real estate my entire career and dont consider this investment to be risky. Apparently other people feel exactly the same as the ocean front homes that are  part of the Founders Club are already "sold out".

It's a nice looking project (at least on paper and artist renderings). Hope it works out for you guys and gals that have bought there. Look forward to seeing how the progress comes along over the next few years.

Yes we are VERY familiar with Las Olas...we bought a golf house which willbe built in 2015.
Just type in Las Olas Bahia de Caraquez Ecuador and you should find phone numbers etc. David the Canadian partner is in Toronto right now but will answer whatever questions you have.

Feel free to call us at 832 259 6748

Thanks
Fran Yates

FYI- I've called the Texas main number 3x in the last 2 weeks (left one long message) and asked them to please have one of the 2 principles call me back as I have numerous questions i would like answered prior to visiting...so far...no response. To me- no response is a bad sign. I don't know if they monitor this site- but if so, please!!! call me back- we're still interested but even more suspect!

Don't have the numbers right here as we are in Tennessee but you could use their email address just as well.
Try lasolasecuador  to get on their site and leave them an email. They have just returned from Toronto and will be glad to talk with you.
Thanks
Fran

Thanks Fran!

David just called me back (he was in Canada & Randy is in China). He spent an hour on the phone with me and was incredibly helpful, answering all of my questions. We're definitely going to visit Las Olas soon and look forward to hopefully purchasing!

Great!! Please use my name....I don't get anything for referrals just want he and his lovely wife Kim to know I am doing what I can.  They are super people!! Wait till you see the site, the plans etc...

April they will be building the FIRST houses so you might want Togo then.

It looks like an interesting project with an ideal location. I can't imagine why there's so much demand for retirement houses in that price range, but it looks like there is. I guess people really like golf.

I browsed through their website, and there were a couple observations I'd like to share. Just things I found to be a little off. They claim there are "almost no insects." I haven't been to this exact site, but I have traveled up that part of the coast. It's not a claim I would make, but I guess it's a matter of perspective. There certainly are fewer insects than in the Amazon or the north coast, but there are still mosquitoes and tons of ants. They also, make the claim, or perhaps it's their slogan, of "sustainable living." It's a sort of vague statement, but to me, building a giant housing development and golf course in a pristine dry coastal forest is the exact opposite of sustainable. Maybe the owners mean it's sustaining their high end lifestyle or something. I don't know.

All and all, I'd just chalk it up to typical advertising and promotion. It's a little slick, but not an outright lie.

Having been to the exact location, I can't remember there being many insects, however in Bahia itself we slept with windows open and had no bites.  Sustainable to me meant that one could fish and be able to sustain life, and as the owners are leaving acres of fruit trees, such as mangos, oranges and lemon just to name a few. We had fun knocking down some of the huge lemons which were going to be used for fresh lemonade. A great deal of acreage is remaining as is, as the owners are conservative people.  The CFO and his family live in Bahia and intend to build their full time home in the same development, as they embrace the un encumbered lifestyle.  The homes being built are far from being lavish, however most of the buyers know a deal when they see it!!

I appreciate your opinion,  but you might want to go down there and see what is planned. I don't play golf but since all the oceanfront homes were SOLD OUT by the time we could get there, we had to choose a golf home....which we thought was quite reasonable. Comparable homes such as on Costa Rica, Uraguay, or Paraquay are priced out of sight for the little man.

fdmcg wrote:

At this point to make an investment in the project is a "gamble" that the project will be completed and attract sufficient others to be a financial success. I would only do so if I was comfortable that a total loss on my investment would not significantly affect my quality of life. The option is to defer the investment until the project is completed and success is apparent. The increased cost is "insurance". If you are making the investment now because you can't afford the higher price later, you probably should not be risking the investment.

Excellent advice.  Here in the USA, where real estate laws and consumer protections are familiar and at least mostly enforced, there are still thousands of developments that get dreamed up, started and either fail completely or fall far short of expectations.  I know several people who have been taken to the cleaners, in particular, my brother-in-law, whose 50K down payment on a house on a private golf course evaporated before his eyes.  I certainly wouldn't go to Ecuador, or any foreign country, and put money down on a house that won't be built for years.  To me, the risk is huge, unacceptable and more than likely to end in financial disaster.

Yes, Fran, the prices look really good compared to the other countries you mentioned. In my opinion, for Ecuador, the prices are very high, but then I'm not into golf and at this point in my life big planned retirement communities don't interest me. Maybe I just don't understand the appeal of that market. I'll be interested to see what people think about this place 3 or 4 years down the road.

It’s very interesting reading all the posts on this forum. Yes everyone that has purchased at Las Olas knows that there is a risk involved. We have all been to the property and met with the owners and feel that the benefits out way the risk in anyway shape or form.
Everyone that is purchasing a home at Las Olas has done there research and feels comfortable that this community is going to succeed. It’s taken them almost 4 years to get to where they are today. Getting all the deeds, permits and legal documents in place before they started selling any properties and clearing with no debt hanging over their heads. If people spent some time researching there background you can see they have a great track record. Other developers buy property with borrowed money and huge debit. They then try to develop right away without permits or legal documents in place. These are usually the properties that crash and burn.
Everything in life is a gamble and first in usually reaps the benefits. Just like the stock market getting in low and selling high unless it crashes on you first. This usually happens 80% or more of the time.
We the founders are tired of explaining ourselves about our purchase. So unless you have visited the property you shouldn’t have any negative comments towards it.
For any of you interested you can see all the construction pictures going on at Las Olas if you visit their website at www.lasolasecuador.com. On the right hand side of the home page under Property Updates. Click on the more button. 
Thanks Randy & Jen from Ontario and proud to say that we have ocean front property purchased. In a few years we are looking forward to meeting everyone at Las Olas for some laughs and playing a few rounds of golf with you.

As I said before have no involvement in this project, and no emotional ties one way or the other, but could someone please explain to me value, and or what you define as value?

For example am still in the planning stages, but my next project will be on my land in Panama. Already have well over 100 fruit trees growing, as well as a ton of cashew trees that were already on the property that are fully grown. Has access to power and water, ocean and mountain views.  Will put up several guesthouses around a pool and bar area that can be rented out in the future, and plan on building about a 3000 sq. foot house. Everything will be built based on a self sustainable lifestyle, but using the latest technologies. The price for the land, and all the building will still be less than what the prices being asked for this development are asking pre construction.

Now I hope that this development gets built, and works out for all who have bought, but I really don't see this great value that people are talking about. Granted my project is in Panama, but is anyone really going to tell me that I couldn't buy some nice ocean view property with acreage in Ecuador, and build my own place based on my likes for significantly cheaper than this project?

siv 1 wrote:

So unless you have visited the property you shouldn’t have any negative comments towards it

There's considerable risk in buying into housing developments before they are completed, and no amount of visits, blog posts, testimonials or glossy websites change that fact.  There are too many wind-bags, con-men and failed developments in this world to ignore.  Pointing these things out is not making "negative comments."

This conversation is becoming too much like a debate about religion or politics. Those that believe, believe, no matter what. Those of us that don't, don't. I hope it all works out. I'd never pay those sort of prices, but for someone that wants the safety/isolation from the community of such a development, perhaps it's a good deal.

Same here I hope it works out. No point continuing to express valid concerns to people who have already bought in.

Unless someone who is planning to buy finds some valid concerns, I don't understand why
  others make negative comments? It should not concern anyone but buyers....

While perhaps this topic has turned into the believers verse the non believers; I will once again pose my question,
since the topic of what great value this is, why is it of good value? Am not trying to be pompous or ignorant. Value
has different meanings to different people. Only mentioned my upcoming project, and what plan on doing to point out
what I consider value.

Don't really think this project is asking crazy prices, but have looked at the package,and prices. Other than golf, and
a club membership, what does it offer that's not available to everyone else? I'm not a golfer, so I ask again, and with no
ill intent, is the market for golf in a Latin American Country in such demand that people will come flocking to this project?

At stage of life where am not so young, and stupid anymore, and not old enough that am thinking of a quiet life of retirement.
Still always looking for a good investment. Wouldn't buy preconstruction, as the risk/reward is to high for me, but if the demand is there for something like this it doesn't mean wouldn't ever considering purchasing something there if seems to be developing in a timely manner.

Obviously those of you who have bought don't have to justify yourselves, or reasons. Just because this project isn't necessarily my cup of tea,it doesn't mean that it's a bad investment. Assuming it gets built of course. Am curious if there is a market for this thatwould make it an economically feasible investment or not. For all I know there could be a huge demand.

Hey j600rr
Yes we can go out and buy a piece of property in Ecuador and build for a lot cheaper but that’s not the retirement we are looking for. Everyone has different plans for their retirement. Our idea of retirement is to have close to zero maintenance on our property. Living on the ocean with a golf course in our back yard. Have a nice club house to hang out in for a few cold ones after the round. Go back and sit around the community pool overlooking the ocean and order a meal from the restaurant. All without getting in our car and driving down the road. Also have a great environment where your family and friends can visit and feel safe in a gated community.
You made a good comment if this project has good value for investment. We rented a condo in Panama last year and we stayed at the Royal Decameron and golf club for 6 weeks. Las Olas is offering everything they are and more. The price tag for used homes at Royal Decameron is well over $400,000.00 and new construction is over $600,000.00
Down the road 20 min. at Buenaventura golf and country club where it is a little more upscale and larger homes you are looking at $600,000.00 to start all the way up to $1,500,000.00 or more. Also Costa Rica is expensive when on the ocean with a golf course. If you search around there is a limited number of these communities around.
So to us it is a worthwhile investment. Especially when the developers are paying us interest back on our money they are using.
The founders being first in reap the benefits as you can see on the webpage plus we have the opportunity to work with the architect to help design our new one of a kind home.  From there they will take all the ideas to make 5 standard layouts for others to choose from. 
Thanks for everyone’s input on this post being it positive or negative. Yes we know it is a big risk but that is a risk we are willing to take.
This is our last post on here as we don’t need to keep explaining ourselves to strangers. If you read back in the posts it gives you all the info you need to make a decision.
PS Again we know it’s a risk.
Thanks Randy & Jen

Siv 1

Thank you for your reply. That is the info. that am looking for. As stated the golf aspect, and market is not something I'm familiar with. Originally had no interest at all in this project, but being close minded can be foolish. Will have to do some more studying, and research. Not really interested in having a beach home. The hillside condos sound interesting, and since not being built until 2015 would give me the chance to see how the construction is, or isn't coming along. Will keep an open mind.

Thanks all

I am very relieved you were able to get your deposit back.  I sent mine in and have not even visited the site.  Although neighbors of mine here in Colorado have committed to moving there, paid their whole deposit and rented a house.  They just returned from a short visit and said lots of earth moving is going on.  They really like and respect David and Kim.

I will report progress as it happens. I am not going there until February, so it is a bit of a wait.

Mary Pat

Fran Yates wrote:

Unless someone who is planning to buy finds some valid concerns, I don't understand why others make negative comments? It should not concern anyone but buyers....

Why shouldn't I be concerned?  There are bad people in this world.  I don't want anyone to get hurt.  What's wrong with that?  Just today I heard investors in another fancy Ecuadorean development, Vista Pacifica, haven't seen any progress since 2009.

Vista Pacific fancy?
Your comparing apples to oranges, The founder of Vista Pacific is on his way out. Check the developers health records before you leave a deposit. Unlike many other developers David and Kim moved here to develop Las Olas, They did not retire first then scrape up some development project plan to pass the time and fund their stay.

misha16 wrote:

Vista Pacific fancy?  Your comparing apples to oranges, The founder of Vista Pacific is on his way out. Check the developers health records before you leave a deposit. Unlike many other developers David and Kim moved here to develop Las Olas, They did not retire first then scrape up some development project plan to pass the time and fund their stay.

I'm supposed to request a seller's medical records before buying property in Ecuador?  Can I be satisfied with a routine physical?  Should I demand a mental evaluation?  Prostate check?

That is so funny you all make me laugh every day....complete physical haha...lie detector test too haha you would appreciate it haha...why not

misha16 wrote:

Vista Pacific fancy?
Your comparing apples to oranges, The founder of Vista Pacific is on his way out. Check the developers health records before you leave a deposit. Unlike many other developers David and Kim moved here to develop Las Olas, They did not retire first then scrape up some development project plan to pass the time and fund their stay.

By all accounts the developers of Las Olas seem to be honest, stand up people, with a good track record. Even with this being the case, that doesn't really equate to this being a successful project. It simply boils down to economics, and demand. Looking at how many views this topic has gotten, it's pretty clear there is quite a bit of interest in this project. If construction stays on schedule then the interest, and demand will probably be there, but it is still a third world country, and nothing is ever as simple, and easy as it should be. What happens if things start falling behind 6 months, a year, 2 years? Not unheard of in Latin America. Actually probably more the norm. Will people still be interested, and will those who have already invested be patient, and sit and hold? Hope, and faith easily turns into fear, and panic.

That's not really a knock on the developers. Doing something this big anywhere is not a simple task, especially in a Latin American Country.

Hello Corey I have been living in Portoviejo, Manabi, Ecuador for 15 years now I am a retired Boston Police Officer and I am helping my fellow police officers relocate to Manabi Ecuador for retirement if I can be of any help to you just send me a message