Monday, June 22, 2009
Dear Reader,
Golfers, you need to pay attention to this postcard. This is the best golf resort real estate opportunity I have ever seen. If you don’t care for golf but like undervalued real estate—you should pay attention, too.
I’m talking golf fronting lots in an established community for only $39,000.
An hour from Nicaragua’s capital, Managua, you’ll find the 2,500-acre Gran Pacifica. The coast here is majestic…Gran Pacifica has 3.5 miles of it. On Dec. 1, top quality golf will arrive in Nicaragua—that’s when the front nine of Gran Pacifica’s Emerald Course opens. I walked the layout the last time I visited. I’m impressed.
I’ve played golf in 10 countries. Sometimes, just for fun. Other times I’ve been representing my club, county, province, university and country (I’ve represented Ireland at University level). I’ve got to play some of the world’s finest courses. I’ve seen enough to know something special when I see it.
This is designer Tommy Haugen’s masterpiece. Today, resorts in the U.S. wouldn’t give him carte blanche like he negotiated at Gran Pacifica. The U.S. number crunchers are more interested in building condos on prime real estate than having greens with views. Thanks to Tommy, we can still find places where we can play shots to greens with uninterrupted views to the ocean.
There will be four sets of tees (plus seniors) and dark volcanic sand bunkers throughout. Tommy isn’t just collecting a design fee. He is a committed equity partner. For him, this is a legacy project.
There will be a total of 10,000 square feet of facilities here, including a pro shop, restaurant, locker rooms, pool and grill/pub. Greens at the practice facility will be top quality and can be played as a short course. Perfect for our kids or grand kids.
Developer Mike Cobb is doing things right. When I first walked the land with him almost six years ago he had a grand vision to do something special. He wanted to build a community where residents would share coffee in the village center, and mornings would be spent riding horses along the coast or putting your golf game to the test on the world class courses.
Mike frontloaded his infrastructure spend. Roads, water, electric, two strands of fiber optics and even fire hydrants were all in place throughout Phase 1 before a sod was turned on the construction of the first home. His group has invested $20 million in Phase 1.
Homes are completing, large haciendas are under construction (over 5,500 square feet), the new luxury condominium (Milagro del Mar) is tying steel and reaching skyward. One hundred homes and condos are already built or under construction. Home sites on the first nine (Emerald Course) are currently priced from $119,900 to over $200,000. These lots will become more attractive as play begins.
And yet, despite this success there are still incredible deals on offer. Gran Pacifica has no debt. Nicaragua is however misunderstood. This deal represents that…and much more.
Gran Pacifica’s Ruby Course is also under construction and slated to open next year. Quarter-acre lots here sell for $69,990. Mike has agreed to make 10 of these lots available to readers for $39,000—a 44% discount.
For $39,000 you get a lot fronting on the Ruby course in this high-end resort. Financing is available and Mike will pay the closing costs. I’ve already explained the catch: Only 10 lots are available and this deal is off the table at the close of business (local Nicaragua time) June 30.
I like this deal. It has all the upside of an early-in opportunity but the resort and community is established. It’s real, it’s there…you can see it…play and enjoy it.
The head of sales at Gran Pacifica is Kent Payne. If you’re interested in this deal, contact Kent here. But contact him soon—once this e-mail goes out these 10 lots will be snapped up.
Ronan McMahon
Posted Under:
nicaragua, appreciation potential
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