586 replies to this topic

[Holden West]

Two deals closed last month and another two or three are expected this month, he said. If three happen this month, that will bring the total to seven, he said. Two of the sales were for hotel units. "We will hit our target, whether it will be this year or not remains to be seen."

Points for optimism. I mean, they've been flogging them for a couple years, no?

[yodsaker]

....he said, from Honolulu.

[spanky123]

What is funny is reading back in this thread a couple of years and seeing how many times over Mr. Walker has sold each of the units!

[yodsaker]

...its still an open wound along Beach Drive and will be for quite a while to come I suspect.

[Yakpi]

Looks like this Oak Bay project is back:

More than two years ago the 80-year-old Oak Bay Beach Hotel was taken down, but plans are in the works to replace it with a green development.

Walker now plans to break ground in November and finish in November 2011.

http://www.journalof...article/id33547

[yodsaker]

Looks like this Oak Bay project is back:

More than two years ago the 80-year-old Oak Bay Beach Hotel was taken down, but plans are in the works to replace it with a green development.

Walker now plans to break ground in November and finish in November 2011.

http://www.journalof...article/id33547

Hopefully 'green' means he'll clean it up, plant grass and shrubs and go back to Hawaii.

[Phil McAvity]

Score yet another one for the NIMBY's folks! Now they are left with the highly coveted Berlin a la 1945 look.

[yodsaker]

Not NIMBYs, guy didn't have the money to do the job and his timing was off.

[Mike K.]

Guy didn't have the money and the timing was off because he spent years trying to get his project approved.

[VicHockeyFan]

Lots of ads for the bond offering on CFAX right now.

http://www.oakbaybea...ent/concept.php

The ad states that construction will start within 90 days (of now).

[spanky123]

8% doesn't cut it these days and I suspect that they will not be able to complete the offering on those terms.

[concorde]

He would be paying around 15-16% on the markets today, 8% is a joke given the risk

[yodsaker]

Hey, your investment is backed by real estate!
Safe as houses, as the saying goes.

[D.L.]

should have not torn down the old hotel

[VicHockeyFan]

The CFAX ad talks about 7%, for whatever reason.

[phx]

They have newspaper ads boasting how the early investors are already getting a return on their investment.

How does that work? You can make money even before construction starts?

[spanky123]

Hey, your investment is backed by real estate!
Safe as houses, as the saying goes.

Right now there is bare land. The amount of money they are raising will likely be in excess of what the property is worth until it is fully developed.

[VicHockeyFan]

They have newspaper ads boasting how the early investors are already getting a return on their investment.

How does that work? You can make money even before construction starts?

Ya, basically your interest payments are fuelled by investors that come in after you and... oh, wait a minute, that's some other type of scheme.

[VicHockeyFan]

Right now on CFAX (3:42pm): Hotel info...

[spanky123]

The CFAX ad talks about 7%, for whatever reason.

Strange. Ad today said 7% as well although documents clearly state 8%!