Belize - Mahogany Bay Village - What's been your experience?

Question

Hi. I have a question for anyone who invested in Mahogany Bay Village in San Pedro, Belize.

What has your experience been like thus far?

If you don't want to share in a public forum, please feel free to send me a private note / private message. Thanks!

Caitlin Pickett · Answer

Hi Brad,

My partner and I are making a trip to Belize mid December. Interested in hearing about the upcoming project you have on the go.

Caitlin Pickett · Answer

Back from our trip to Belize in December. After spending a few days on the island and speaking with locals/expats it was confirmed that the lots Remax are selling in Secret Beach are swamp land. The lot is cheap but you have to pay to get it drudged before building. I heard from a local they use garbage and sand to build up the lot (yikes!).

After seeing the locations of Secret Beach and Mahogony Bay with my own eyes we cancelled our appointment with Remax.

Brandon Galloway · Answer

I believe there is a class action lawsuit forming against the ReMax team there. The suit cited that the lots are sinking and the homes have severe foundation issues.

Henry Clark · Answer

OP we invest inland and not on the island.  Although we did look at.  If I’m reading your post correctly you didn’t even drive out to the development?  It’s only a 20 minute golf cart ride from downtown.

Looks like you’re thinking about investing overseas. Lots of different issues to learn.  Dredging for sand to build up a spot is pretty common anywhere.  They don’t use “Trash” they probably use “Trash” dirt fill.

Whether they have a problem or not, building in an area like that requires some different considerations.  Driving pilings, sea wall retention systems, special sewer containment systems, home security, building quality, stainless steel fixtures for salt, etc.  If you don’t have pilings or sea wall retention your house will sink.  Especially if next to dredged canals for boat access.

My brother moved to Italy.  They looked at around 40 houses.   All of them have technical deal issues.   Just part of that market.

Ali Powell · Answer

We purchased in phase 2 on street 2.  Very excited about the opportunity and build-out.

Ali Powell · Answer

Hi @Pat L.

Curious if you’ve developed an opinion?  We are considering investing their as well.

Brad Stegall · Answer

We are raising money to start a project down there right now.  We will be on street 1 of phase 2.  One of our partners has done 3 other deals down there so far.  Feel free to reach out!

Belize - Mahogany Bay Village - What's been your experience?

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