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Old 05-12-2017   #1 (permalink)
beachaholic
 
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ROI Deals on New Construction Condos

Does anyone here on this forum have any first hand experience with these guaranteed ROI deals with GMB or other developers? Are they legit? Do they take into consideration everything including the HOA, insurance, etc? GMB is promoting some projects with 8-13% ROI guarantee. I find it hard to believe they can guarantee such high returns when there are so many units coming onto the market.
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Old 05-12-2017   #2 (permalink)
aņejo
 
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Quote:
Originally Posted by sanluisdavid View Post
Does anyone here on this forum have any first hand experience with these guaranteed ROI deals with GMB or other developers? Are they legit? Do they take into consideration everything including the HOA, insurance, etc? GMB is promoting some projects with 8-13% ROI guarantee. I find it hard to believe they can guarantee such high returns when there are so many units coming onto the market.
From Wikipedia:
"There's a sucker born every minute" is a phrase closely associated with P. T. Barnum, an American showman of the mid-19th century, although there is no evidence that he said it. Early examples of its use are found instead among gamblers and confidence men".

That says it all, IMO.
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Old 05-12-2017   #3 (permalink)
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Originally Posted by absoluteAL View Post
From Wikipedia:
"There's a sucker born every minute" is a phrase closely associated with P. T. Barnum, an American showman of the mid-19th century, although there is no evidence that he said it. Early examples of its use are found instead among gamblers and confidence men".

That says it all, IMO.
I am just curious as to how they could possibly guarantee the results, not pay out, and still keep their reputation intact. Especially a company like GMB who is building units at an incredible pace, selling out projects very fast, and guaranteeing these ROI deals. If a lot of people were actually getting screwed you would expect their business model to collapse within the first couple projects since word would definitely travel fast.
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Old 05-12-2017   #4 (permalink)
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Sent you a PM
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Old 07-21-2017   #5 (permalink)
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interested as well

Hello,
I am considering buying a GMB condo as well.
I am interested in knowing about this as well.
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Old 07-21-2017   #6 (permalink)
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Originally Posted by jmf_tracy View Post
Hello,
I am considering buying a GMB condo as well.
I am interested in knowing about this as well.
ROI numbers that salesmen are spouting out = bull, at least IMO.
I will call you next week when I get back from my trip.
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Old 07-21-2017   #7 (permalink)
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thank you Allan.
Have a great trip.
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Old 07-21-2017   #8 (permalink)
aņejo
 
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thank you Allan.
Have a great trip.
Da nada. Talk next week. Get those questions ready.
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Old 07-21-2017   #9 (permalink)
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Quote:
Originally Posted by sanluisdavid View Post
I am just curious as to how they could possibly guarantee the results, not pay out, and still keep their reputation intact. Especially a company like GMB who is building units at an incredible pace, selling out projects very fast, and guaranteeing these ROI deals. If a lot of people were actually getting screwed you would expect their business model to collapse within the first couple projects since word would definitely travel fast.
Sell fast and furious with fake promises.....Don't need to be in business long to make a mint before you change the name..etc.
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Old 07-22-2017   #10 (permalink)
very sparkly
 
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Buying a property to use as a LEGAL rental is complicated. Make sure you do all your homework before considering it. Taxes, forming a Mexican corporation, limited private use...
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Old 07-22-2017   #11 (permalink)
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LEGAL rental
There in is the key to never making the ROI they hype. One must collect IVA/ISH, pay MX income tax...
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Old 07-22-2017   #12 (permalink)
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Originally Posted by reddogmax View Post
There in is the key to never making the ROI they hype. One must collect IVA/ISH, pay MX income tax...
Everything is legal in Mexico until you get caught!
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Old 07-22-2017   #13 (permalink)
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I've been told(take it for whatever you want) that the city has hired five people just to check online rental listings.....Airb&b etc to make sure the taxes(income and others) are being paid. We'll see if anything comes of it. .
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Old 07-25-2017   #14 (permalink)
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GMBis advertising a project called ZulimPark. Some RE Agents tell me this is all reserved already. I live in the neighborhood, they are planning 19 condominiums in a one family lot. They have no permits and chances are they will not be able to build there unless corruption allows them. Be careful with Presale projects. It would be a headache to get your money back if they are not allowed to build after all.
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Old 07-25-2017   #15 (permalink)
sandflea
 
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Any info on the 1540 development?
That is the one i am interested in.
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