Out of curiosity, how much did you lose on that venture?
You kind of nailed what happens. Buy into the dream, then the dream becomes a nightmare and you're left holding an empty bag with no recourse.
It's a crap shoot on any of these buying into a project while it's an artist's conception pinned to a wall. For those that did get a nice condo or home out of it, kudos. I've stayed in some very nice ones, Privada, for example.
I still love to tell the story of San Jorge. Did a charter to fish out of there, oh 30 years ago. The gentleman that arranged the charter took me into a mobile trailer, big beautiful complex map on the wall, a marina, a golf course, all the luxuries of paradise, then commenced with how I could buy in now! I politely declined, I was only there to fish. All these years later, San Jorge is pretty much the same piece of beach that it was then. I've always wondered how much money was made from suckers that bought into that dream.
The current scam I mention seems to be the same. Notice how they taut the same things? The casino, the marina, the golf course... and throw in the new cruise ship port for good measure. These development fairy tales have been around forever, dear, and not one of them has yet to become reality. A pile of rocks in the water doesn't make a home port. But, they go out and move some dirt around and it actually looks something might happen. In a few months or years, they move the same pile of dirt somewhere else to keep the illusion alive.
Cynical? Not me. Reality check? DEFINITELY. If any of these (casino, marina, home port, etc.) actually happen in my lifetime or yours, I'd likely keel over from a heart attack.
Nobody can ever explain where all the money went, seems to be the way these projects go. But somewhere, there is a developer with a new Escalade and a fat retirement account. Or perhaps, an ex-governor or other public official. It's the Mexican way, it would seem.
