spicyayam
Nothing but problems with the managers of the property and almost nothing you can do about it.[video=youtube;l4TPqaPYmEQ]https://www.youtube.com/watch?v=l4TPqaPYmEQ[/video]
Fred2
When I looked at the sales/show room, o-ce-n resort only had a 10 lease on the management rights. I made my mind up then that you would be fool the buy one.
spicyayam
If you watch the videos it was actually only a 5 year contract.
Fred2
Watch the video twice and didn't hear about the 5 years, anyone would be mad to sign a contract knowing that outrigger was only managing the hotel for 5 years. Most people think that its there bali dream owning a apartment and making money out of rental income, look at the kuta town houses and you see the Aussie dream of owning a little spot in Bali only to find out that it won't add up.
Markit
Fred2 in all fairness it's not just the Ozzies time-share is the world's biggest ripoff anywhere you see it Greece, Marbella, London or Florida what I can never ever understand is that they seem to still find droves of people that still believe their spiel.Google property ownership in Bali and you get reams and reams of crap heaped on our poor nominee system that hardly ever has a problem and yet these apartment scams go on and on stealing people's money as fast as they can with almost never a mention - I don't understand, do you?
spicyayam
[COLOR=#333333]Watch the video twice and didn't hear about the 5 years[/COLOR][/QUOTE]It could of been in one of the other videos. The one where the owner goes to the Singapore office. [COLOR=#333333]Fred2 in all fairness it's not just the Ozzies time-share is the world's biggest ripoff anywhere you see it Greece, Marbella, London or Florida what I can never ever understand is that they seem to still find droves of people that still believe their spiel[/COLOR][/QUOTE]Actually this condotel seems much worse as you are paying full price for an apartment which you mostly cannot even use. [video=youtube;b5eHyFOGAyE]https://www.youtube.com/watch?v=b5eHyFOGAyE[/video]
Fred2
The deal we were told was full price no letting, if you stay for 2 weeks and rest of the time it was in the letting pool you paid $120US, 4 weeks $180US and so the more you used it the more you paid. You were not allowed to let it out yourself only outrigger. The deal was that good I had to pass it up.The Kuta town house was, you buy the unit on a 45year lease, they say you can make money on you investment by letting your unit out, management are the only people that can let the unit out not you privately. Sounds good only a monthly fee ($US) But now they have build two more stages, so started of with say 60 apartments now there are 180 apartments. All the owners giving good reviews to fill the place.
Fred2
When the O-CE-N was on sale I could stay at the Jayakarta for $900Aud for a month, this place is not worth $200US per night. People just see dollar signs and don't read contracts.
spicyayam
The guy was getting $400 a month, so $4800 a year, times that by 30 years = $144,000. I guess they paid around $300,000 :icon_eek:I think part of the reason people buy into these is that they can say "my apartment in Bali". It seems like nothing more than a way for developers to finance their project. With the influx of hotel rooms, you can get great deals on hotels in Bali and there is really no reason to buy anything if you visit a few weeks a year.
JohnnyCool
Great stuff. Nearly as good as some of yesterday's stories on The Jakarta Post, like the "anti-confusion car" and the chicken-eating competition in which one contestant choked on a chicken wing.My latest favourite scam is a company in Wales (UK) that's selling bottles of fresh air.Their website's got a video showing people running around with butterfly nets capturing "fresh air".Some customers want early morning air, others night-time air.Some of the best customers are in China, willing to pay $300 for a whiff.I'm [B]not[/B] making this up.I'm considering marketing cans of silence. Yeah - right.You heard it here first (no pun).There's no shortage of idiots in the world, and the digital age makes it easier to find suckers, who'll buy anything.Real estate dealings in Indonesia are not far behind...
