Los Corales

[Wahoo]

Mim mey, sorry your family got the hook. In Rocky Point you are either the fishermen or the fish.


I have family who lost alot of money on a Los Corales condo build that never did. I believe they worked through Liberty Properties in Az somewhere. Anyone else have information?

Give us your story so other might learn on how the Real Estate fishermen operate; what was your bait, why did you decide to buy? The story I gather Corales was all a spec to spec another. A sale to a fishermen to go out and bait another but unkownst to him he was the fish.

Many have discused buying property in Rocky Point, and what stands out is never buy a dream, buy something that exists. Chris McDonaogh has good points on ownership,

http://www.markravenlaw.com/index.php?page=misc&section=Article.LenderFinancing.04

Page 5:
http://www.markravenlaw.com/downloads/AZIntlLawJournal_Feb%202010.pdf

How much did your family pay for the dream? It sounds all a spec to make money. Financing with 5 year balloons? That should have been the first warning. 30% due before anything real was given? What was going through your mind? Too much cash in your pocket? The good Fishermen saw that and took it. Sorry, took you for the ride.

[Roberto]

I have friends who lost $30K on Las Corrales. There has been some talk back and forth about new financing but no action of which I am aware. The management, Liberty Properties, stopped responding some time ago. They are apparently a US based company, but probably without any assets that one could find. I don't think that anyone actually made any money off a screwed up deal like this, except the comissioned sales people. Now the land is probably buried under a couple of layers of legal papers and will sit there for years to come. If it were me, I'd haul an RV over there and SQUAT ! In reality these buyers may have enough status to file a lein on the property if interested. I have a friend who got some land (hopefully) under similar circumstances. Lucky ??

The rules to avoid a problem are real simple. Pass the money ONLY after seeing a Mexican Title (being sure the property can be legally sold and that the seller is the named owner on the title too) or a Bank Trust, AND when you can walk through the door of a completed home or condo. I don't like the sales tactics often used but also I cannot believe what some apparently intelligent buyers have done. Insist, don't take words, only accept something real and that concrete foundation, nice sales offie, beautiful scale model, video, website and 4 color brochure aint real enough !! Oh yeah, and never go for drinks with the sales person !!!

[Ladyjeeper]

I was told the property reverted back to the original owners after they only received the down payment.

[rockyptjoe]

I wonder if the old launch ramp is still in any condition to use........

[Ladyjeeper]

No Joe,
It was completely washed out about halfway down before they closed the park.

[Roberto]

I was told the property reverted back to the original owners after they only received the down payment.

That's possible, but it was probably possible to put a cloud on the title with the sales contracts.

[lagrimas85]

Roberto said (I have a friend who got some land (hopefully) under similar circumstances.) Lucky ??

I am back in court on that one. What's another 10 years?

[Wahoo]

In ALL condo sales no land is sold only "air". You never "own land"
Example, 7th floor, west wing, unit blah.

The land is held by the investor (builder) and it sound like it was transfered to another for 18mill in paper (Stock) in a pre-foreclosure sale to "Omega Commercial Finance", a public entity and completely outside the original Los Corales LLC. You might have claims against Los Corales or their Realty office, but they do not exist any more. OCF has nothing to do with Los Corales.

A shell game par excellence.

[lagrimas85]

Omega Commercial Finance is a phony corporation also that Chris had ties to.

[Wahoo]

.. so whom would you go after? pick a shell,
... nothing here. over here? nothing there.

as they say

"she sells sea shells by the seashore, are you sure they are sea shells she sells?
She sells sea shells on the seashore I am sure she sells seashore sea shells!"

[lagrimas85]

They are untouchable. At least I have somebody I could sue.I won and got title to the property but Now i am being sued by them to get it back.I was 2 and 1/2 years the first time. Now you see why when somebody steals from the Mafia they dont take em to court.

[Wahoo]

at $385 an hour? (US) The only winners are the Lawyers.

[lagrimas85]

at $385 an hour? (US) The only winners are the Lawyers.
$385.00 an hour plus a percentage. We are in court in Nogales, Sonora it's toll on me mentally was way more expensive than the attorney. I went to San Felipe in early May to visit my wifes relatives and during that trip I dont know what happened but I haven't lost a minutes sleep over it since. I dont even think about it anymore. It just left me. Like Wahoo posted In Penasco your either the fish or the fisherman I had money in my pocket saw a good deal and became a victim of my own greed. My fault

[PitiquitoRosy]

$385.00 an hour plus a percentage. We are in court in Nogales, Sonora it's toll on me mentally was way more expensive than the attorney. I went to San Felipe in early May to visit my wifes relatives and during that trip I dont know what happened but I haven't lost a minutes sleep over it since. I dont even think about it anymore. It just left me. Like Wahoo posted In Penasco your either the fish or the fisherman I had money in my pocket saw a good deal and became a victim of my own greed. My fault

Lucky, the first 6 months after I got scammed I made myself sick over having lost that amount of money. The shame and guilt I felt were weighing me down horribly. I felt stupid and naive, and then anger would tear at me and make it even worse. I do think, though, that some good has come out of the experience. Launching my insurance business after losing my seed money was a real challenge, but I kept at it and never once let my employees down. This was very important to me. I realized that if they saw me scared about the future, they would in turn worry about their futures...not good for morale. And finally, knowing that there are so many people who know Martinez and me, who wish me well in this lawsuit. I believe in Karma and that what is meant to be will ultimately be, so I keep plugging along. Don't get me wrong, though...I'm still very angry, but I try to use it to motivate me and not let it eat at me. I'm convinced I'll get my money back (or my money's worth) someday.

[lagrimas85]

Rosie, I read one of your posts awhile back and you mentioned your case with Ramon and Martin was being appealed is it you that appealed or them? I dont know if you remember last year(right before the elections) you were coming out the courthouse and I was going in and I talked to you briefly about a case I was involved in with Memo Zepeda Munro brother of the mayor of Penasco Alejandro Zepeda Munro to make a long story short I won the suit and put liens on what I could and Memo appealed ( we even stayed friends through this) anyway I finally got paid. You just gotta keep pressuring them. P.S. The reason I talked to you about it was to have it posted on your web site as you were backing the PRI candidate and the Zepedas were PAN. Later that day your friend and mine Esthela asked me not to post anything anywhere and now Im glad I didn't. It was better to do it quietly.

[PitiquitoRosy]

Rosie, I read one of your posts awhile back and you mentioned your case with Ramon and Martin was being appealed is it you that appealed or them? I dont know if you remember last year(right before the elections) you were coming out the courthouse and I was going in and I talked to you briefly about a case I was involved in with Memo Zepeda Munro brother of the mayor of Penasco Alejandro Zepeda Munro to make a long story short I won the suit and put liens on what I could and Memo appealed ( we even stayed friends through this) anyway I finally got paid. You just gotta keep pressuring them. P.S. The reason I talked to you about it was to have it posted on your web site as you were backing the PRI candidate and the Zepedas were PAN. Later that day your friend and mine Esthela asked me not to post anything anywhere and now Im glad I didn't. It was better to do it quietly.

I remember meeting you, Bill. I later saw your wife again at a birthday celebration at the Casa del Capitan. I'm glad you finally got your money. Do me a favor and toss me some of that good energy so I can win my case, too.

[lagrimas85]

Rosie, I had all my paperwork in order in Memos case and it was very fast and easy to lien him. You have a good memory and your a pretty good detective too.

[penasco1996]

The Az Superior Court has jurisdiction against anyone resident in its county for actions in personam, but not in rem. For claims for return of monies had and received, such as deposits, where you elect not to sue for specific performance, your action is in personam.

[Roberto]

The Az Superior Court has jurisdiction against anyone resident in its county for actions in personam, but not in rem. For claims for return of monies had and received, such as deposits, where you elect not to sue for specific performance, your action is in personam.

Errr. I think the problem discussed here is in Mexico and subject to Mexican laws.

[penasco1996]

Could i suggest some of you folks clean the lenses of your rosie colored glasses and pay attention to real legal advice when you get it? Better yet: run everything by your az attorney and then respond here. A small amount of information can be very harmful to the expounder, and whomever blindly believes what he hears.

[lagrimas85]

Could i suggest some of you folks clean the lenses of your rosie colored glasses and pay attention to real legal advice when you get it? Better yet: run everything by your az attorney and then respond here. A small amount of information can be very harmful to the expounder, and whomever blindly believes what he hears.

<WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP> you and your <WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP><WASH MY MOUTH OUT WITH SOAP> opinions

[InkaRoads]

too much soap lagrimas85, it is a wate of good soap, plus now he will blindly believe what he is hearing and actually try to wash your mouth with soap!
I heard a rumor that RV Park Miramar might re-open again since the buyers defaulted and the original owners never got paid and still have the land under their name, again just a rumor!!
Lagrimas, I owe you an apology for putting you in the same category as those two other from "Los Conchos"

[lagrimas85]

too much soap lagrimas85, it is a wate of good soap, plus now he will blindly believe what he is hearing and actually try to wash your mouth with soap!
I heard a rumor that RV Park Miramar might re-open again since the buyers defaulted and the original owners never got paid and still have the land under their name, again just a rumor!!
Lagrimas, I owe you an apology for putting you in the same category as those two other from "Los Conchos"
Thats what straightened me up that was a life changing insult. Thanks Inka

[Roberto]

Probably locals in action, but the beach at Las Corales had a fair number of people on it during Semana Santa. Umbrellas on the beach and vehicles. Worst part was a small group of ATVs made an impromptu racetrack and they were kicking up lots of sand.

[Ladyjeeper]

Argh!