beerguy Posted March 21, 2007 Author Share Posted March 21, 2007 Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project. However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects. Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains. The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way. The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean. I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist. I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week...... Link to comment Share on other sites More sharing options...
Kiiniow Posted March 21, 2007 Share Posted March 21, 2007 Bought one of these a few years back from CoCo and now can't get any real answers as to what is going on. Everytime I ask, all I get is the financing is in the works..........Does anyone know what is going on? Is it time for all us Hong Kong investors to come down there and knock some heads? I'm just so disgusted by those people........they seemed like real decent people, but now I am wondering. If you can knock heads DO IT and fast before there is not anything left to get from them. These guys at best are as unprofessional and untrustworthy as they come...at worse, _____________ well you fill in the blank! Link to comment Share on other sites More sharing options...
SamuiJens Posted March 21, 2007 Share Posted March 21, 2007 (edited) Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects. Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains. The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way. The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean. I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist. I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week...... You fell for it hook line & sinker! or with all your CoCo naming, maybe you're one of them, this is the internet! Edited March 21, 2007 by SamuiJens Link to comment Share on other sites More sharing options...
southwest19 Posted March 22, 2007 Share Posted March 22, 2007 Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects. Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains. The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way. The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean. I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist. I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week...... What are daft thing to say. How can it be such great value at 180,000 USD when they actually have not built it and have run out of money! Using your model of good value you would walk into a car showroom get a fantastic discount on a car pay for it and they never deliver it or at best a few years later but great value!!! Link to comment Share on other sites More sharing options...
southwest19 Posted March 22, 2007 Share Posted March 22, 2007 Well, I just got back from another visit to CoCo and heard pretty much the same song and dance regarding the financing of the project.However, that said, the Palm Villas project that I bought into had some villas finished and we got to stay in one. For the price, about US $180,000 they are a great deal. For the quality of the build, furniture, size and amenities you just can't touch anything else at that price. Now, I still have my fingers crossed that somehow they can get financing and complete this and their other projects. Also, regarding the privacy issue. At least in Palm Villas it's not an issue..........nud_e sunbathing from the minute we got up till the wee hours in the morning. Each villa is walled to a height that offers maximum privacy. Also, for the price paid for these others villas and yes the owners knew exactly what they were getting, again they are bargains. The main swimming pool which is beachfront, offers a fantastic and uninterupted view of the ocean and island across the way. The picture of the beach from the website CoCo Samui Villa Rippoff is from the next door site where another developer is building a hotel, a Regent, I beleive I was told. As such, there is construction waste on the beach area directly in front of it. The beach area owned by CoCo is cleaned daily of all trash, leaves etc. that may be blown onto it.........it's immaculately clean. I also looked and found the suppossed "missing" view of the pool in the above mentioned website and this view does exist. I'm not trying to promote CoCo or any of their properties........I just want my villa built so I can go back to having a bbq and doing some sunbathing while laying around the pool instead of working seven days a week...... PS. When are you coming to Samui next? Link to comment Share on other sites More sharing options...
Kiiniow Posted March 22, 2007 Share Posted March 22, 2007 Keep the faith.They are still here trying to get this sorted after a very difficult year. They are still honest people, but had a lot of things go against them outside of their control and are doing their best. Link to comment Share on other sites More sharing options...
beerguy Posted March 22, 2007 Author Share Posted March 22, 2007 Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract. Anyway, hope those guys can still work things out........ Link to comment Share on other sites More sharing options...
mafaso Posted March 22, 2007 Share Posted March 22, 2007 I drove past the place today on my to Evason Sila. It looks to me they own A LOT of property on that hill. I saw a lot of fenced off areas with their name on it but no construction yet. If they turn all the land that they own into the same type of communities they have already built it will be an ugly sight. If they own the property out right then they are sitting on a gold mine of land for sure. I bet they could sell it and get a good premium compared to what they paid, depending on when they bought of course. The views from some of the land I saw were fantastic. Link to comment Share on other sites More sharing options...
Pilchard Posted March 22, 2007 Share Posted March 22, 2007 Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract.Anyway, hope those guys can still work things out........ Only pub talk this but... I have heard of some developers not putting the windows into houses so as to keep them unfinished ! . The rental or guaranteed income only starts after the project/house is finished. House not finished, Don't have to pay guaranteed Income. Only bar gossip and not directly about coco. Link to comment Share on other sites More sharing options...
southwest19 Posted March 22, 2007 Share Posted March 22, 2007 Southwest, the point I was making was those completed units are a value at that price. Furthermore, building is still in progress throughout their projects. I would really prefer it if it wasn't built for two more years at which time I would have a paid up villa for which I only paid half the amount due to the rental contract.Anyway, hope those guys can still work things out........ You're beginning to sound like the former Iraqi Information Minister! Link to comment Share on other sites More sharing options...
beerguy Posted March 22, 2007 Author Share Posted March 22, 2007 (edited) You mean Bagdad Bob........hahaha! Just trying to remain hopeful.... Rental gaurantees started a couple years back.......... Edited March 22, 2007 by beerguy Link to comment Share on other sites More sharing options...
southwest19 Posted March 22, 2007 Share Posted March 22, 2007 You mean Bagdad Bob........hahaha!Just trying to remain hopeful.... Rental gaurantees started a couple years back.......... Ha ha. On a serious note I also heard first hand sometime ago from a Coco Villa owner that the rental guarantees had started kicking in. Also I hope the project is fully completed not least because I do not like seeing poeple lose their money but also it would be very bad for the island if such a high profile development went tits up! Link to comment Share on other sites More sharing options...
Jet Gorgon Posted March 22, 2007 Share Posted March 22, 2007 A friend did contract work for CoCo for about four years. Always got paid on time and CoCo was very supportive. Heard about the first couple who moved in to their completed home in the early days of the project. Construction all round, they said. But their choice. Pity about the rental agreement probs, and now $180,000 price tags? I'm sure friends only paid about $80,000. Is there jealousy swirling just because CoCo is pan-island? Link to comment Share on other sites More sharing options...
LaoPo Posted March 22, 2007 Share Posted March 22, 2007 Is there jealousy swirling just because CoCo is pan-island? There's is no jealousy from my side, Jet. Thanks for the info. The point is that they built as many villas as possible (each owning a very small piece of land) on a once beautiful spot. Reason ? Greed. They could have built the same villas, let's say each having 800 or 1000M2 and it would have been a splendid resort and at the same time could have made more money (higher house prices). It's -my opinion- short sighted and therefore greedy development, unfortunately. But, to be fair, they're not the only ones on Samui or elsewere in Thailand LaoPo Link to comment Share on other sites More sharing options...
SamuiJens Posted March 22, 2007 Share Posted March 22, 2007 CoCo will declare it's bankrupt, the 1st of next month, from a special source. Link to comment Share on other sites More sharing options...
Jet Gorgon Posted March 22, 2007 Share Posted March 22, 2007 Is there jealousy swirling just because CoCo is pan-island? There's is no jealousy from my side, Jet. Thanks for the info. The point is that they built as many villas as possible (each owning a very small piece of land) on a once beautiful spot. Reason ? Greed. They could have built the same villas, let's say each having 800 or 1000M2 and it would have been a splendid resort and at the same time could have made more money (higher house prices). It's -my opinion- short sighted and therefore greedy development, unfortunately. But, to be fair, they're not the only ones on Samui or elsewere in Thailand LaoPo Too true, Lao Po. Anywhere in Thailand seems the same. So much land and the developers cram everything into a small space so there is no privacy, garden area, peace. I would rather have a small house on a big plot of land. But then, I like to be outside on the balcony, so even if the karaoke bar is 5km away, I can still hear every snap, crackle, pop and drunk crooner. It's a pity things turned out this way. BTW, I like that wild, tussled look in your new avatar. Meow! Link to comment Share on other sites More sharing options...
Jet Gorgon Posted March 22, 2007 Share Posted March 22, 2007 CoCo will declare it's bankrupt, the 1st of next month, from a special source. That is sad, indeed. I do not like to hear that people fail. And, if the company is as big as you all have said, the closure will have dire consequences for many other folks, too. Link to comment Share on other sites More sharing options...
beerguy Posted March 23, 2007 Author Share Posted March 23, 2007 CoCo will declare it's bankrupt, the 1st of next month, from a special source. Hope that's not the case as the wife and I really love it there and wanted to spend some time there yearly. Link to comment Share on other sites More sharing options...
taxexile Posted March 23, 2007 Share Posted March 23, 2007 CoCo will declare it's bankrupt, but i doubt if the lifestyle of the owners or directors will change or suffer should the bankruptcy rumour come to fruition. bankruptcy in the property business is usually down to creative accounting more than dire financial straits. Link to comment Share on other sites More sharing options...
LaoPo Posted March 23, 2007 Share Posted March 23, 2007 CoCo will declare it's bankrupt, but i doubt if the lifestyle of the owners or directors will change or suffer should the bankruptcy rumour come to fruition. bankruptcy in the property business is usually down to creative accounting more than dire financial straits. True; I doubt that the present owners/stockholders will suffer. It's indeed -most likely- creative accounting so they can have a fresh start with a new name. The ones who suffer are buyers, suppliers, sub-contractor and others.... LaoPo Link to comment Share on other sites More sharing options...
stevieff Posted March 23, 2007 Share Posted March 23, 2007 Bought one of these a few years back from CoCo and now can't get any real answers as to what is going on. Everytime I ask, all I get is the financing is in the works..........Does anyone know what is going on? Is it time for all us Hong Kong investors to come down there and knock some heads? I'm just so disgusted by those people........they seemed like real decent people, but now I am wondering. Maybe it's time, beerguy, to knock heads that is. The part about needing financing to finish a villa that you have put a 50 percent deposit on is clearly a scam or at least very unethical. Don't you think your waiting period has been excessive? Shoudn't that have given you some red flags? Link to comment Share on other sites More sharing options...
beerguy Posted March 23, 2007 Author Share Posted March 23, 2007 (edited) How can I find out if they in fact filing for bankruptcy? Is there a website that lists these filings in Samui? Edited March 23, 2007 by beerguy Link to comment Share on other sites More sharing options...
SamuiJens Posted March 23, 2007 Share Posted March 23, 2007 How can I find out if they in fact filing for bankruptcy? Is there a website that lists these filings in Samui? Don't freak out, beer guy, this is the talk thaat is going around, so it is NOT 100% FACT. Would hate to see the investers taken to the cleaners. Link to comment Share on other sites More sharing options...
beerguy Posted March 23, 2007 Author Share Posted March 23, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Link to comment Share on other sites More sharing options...
stevieff Posted March 24, 2007 Share Posted March 24, 2007 CoCo will declare it's bankrupt, the 1st of next month, from a special source. Nice job, SamuiJens. First you make it seem like you have inside information on an impending backruptcy, then when the poor guy's going ape-s--t, you decare it's only talk and not 100 percent sure. Kudos to you, job well done. Link to comment Share on other sites More sharing options...
Mark Wolfe Posted March 24, 2007 Share Posted March 24, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Why? Is this your life savings? Did you want the house and the little woman said no but you went over her head? Is this your fault? Sleeping on the couch? Weird! Link to comment Share on other sites More sharing options...
stevieff Posted March 24, 2007 Share Posted March 24, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Why? Is this your life savings? Did you want the house and the little woman said no but you went over her head? Is this your fault? Sleeping on the couch? Weird! Yet another helpful hand from the generous members of Thaivisa. Link to comment Share on other sites More sharing options...
Rooo Posted March 24, 2007 Share Posted March 24, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation. Another option is to get your legal people to delve into it & see where you stand with : 1/ Building being late. Has it been started?If so to what stage? 2/In case of bankrupcy where do you stand with land etc....... Good luck & keep us informed. Link to comment Share on other sites More sharing options...
stevieff Posted March 24, 2007 Share Posted March 24, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation. Another option is to get your legal people to delve into it & see where you stand with : 1/ Building being late. Has it been started?If so to what stage? 2/In case of bankrupcy where do you stand with land etc....... Good luck & keep us informed. Thanks, Rooo, for actually trying to help the guy. Link to comment Share on other sites More sharing options...
beerguy Posted March 24, 2007 Author Share Posted March 24, 2007 Wife is freaking out as a result of this info............sleeping on the couch tonight! Beerguy, I wouldn't hit panic button yet.Rumours around the island are a dime a dozen.Have you tried contacting the principals?That would be my first step & try & clarify the situation. Another option is to get your legal people to delve into it & see where you stand with : 1/ Building being late. Has it been started?If so to what stage? 2/In case of bankrupcy where do you stand with land etc....... Good luck & keep us informed. It was kind of a joke about sleeping on the couch although the little lady did freak out. I never buy anything I can't afford to lose but that said I don't want to lose this one. I have other properties that lucklily are income producing but my wife likes this one in particular as she really likes Samui a lot! Oh well, just need to wait and see what happens........luckily I have a plan B. Link to comment Share on other sites More sharing options...
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