Project Greengold 2 - Argentina

rosboy

Hey all.

Just wondering if anyone has heard anything about this investment oppurtunity.

For an investment of $40,000, you are buying approx 11 acres of land in Argentina. This is used for biofuel production, and you are guaranteed 10% annual returns for upto 10 years. Once you buy, there are two periods where you can sell; after 5 years or after 10 years. If you sell after 5 years you are guaranteed a minumum of 25% capital appreciation, or if you stay in for 10 years a minimum of 50%. This means that if you sell after

(1) 5 years you will have

• $70,000 ($40,000 (original investment) + $10,000 (25% return on property) + $20,000 (10% annual return * 5 years)

(2) 10 year you will have

• $100,000 ($40,000 (original investment) + $20,000 (25% return on property) + $40,000 (10% annual return * 5 years)

Has anyone ever heard anything about this project?

Or better still has anyone invested in it previously?

A Random Walk

You're paying $40,000 dollars for 11 acres in Argentina which is $3600 an acre. I did a quick Google and this site has some indicative figures for the cost of land in Argentina
http://www.agro.pvoss.de/ - in 2005 it ranged from $364 to the very best areas at $2429. With those sort of figures I'll sell you all the land in Argentina you want for $3600 an acre.

Guaranteed returns yadda yadda. What happens if the company providing the guaranteed returns doesn't? What are you going to do with 11 acres of land in Argentina?

rosboy

The company running the investment, movewithus, have told me that the scheme is underwritten, although that detail is in the final contract, so I can't verify that yet.

When I look at the prospectus for the investment, there are a lot of *'s beside certain promises stating that terms and conditions apply. I'm finding it hard to get a copy of these terms and conditions though. I keep getting the line "you will be issued a contract after you sign some initial reservation forms, since we have to set up a specific company in your name to own the property".

Am just trying to find out how legit all this is. movewithus seem to be a fairly legit company from what I read what information I can get.

....oh and thanks for the research A Random Walk!

A Random Walk

rosboy wrote: »

When I look at the prospectus for the investment, there are a lot of *'s beside certain promises stating that terms and conditions apply. I'm finding it hard to get a copy of these terms and conditions though.

Walk away imho.

rosboy

A Random Walk wrote: »

Walk away imho.

Thats the way I'm starting to lean too.

portomar

so, if theyre a "selling" land, why are they keen to lock u in for 5-10 years? What do they care?dnt touch it with a ten foot argentine pole.

rosboy

portomar wrote: »

so, if theyre a "selling" land, why are they keen to lock u in for 5-10 years? What do they care?dnt touch it with a ten foot argentine pole.

Think I didn't explain it correctly first time.

You buy the land, but as part of the purchase contract, you are essentially letting the land to a biofuel company who will till that land and pay you an annual rental fee of 10%.

Because the biofuel want a certain ammount of stability, they want agreement in five year blocks.At the end of 5 years they purchase the land from you at original cost + 25%, or after 10 years at +50%.

.....not trying to justify the deal, just clarifying:)

portomar

rosboy wrote: »

Think I didn't explain it correctly first time.

You buy the land, but as part of the purchase contract, you are essentially letting the land to a biofuel company who will till that land and pay you an annual rental fee of 10%.

Because the biofuel want a certain ammount of stability, they want agreement in five year blocks.At the end of 5 years they purchase the land from you at original cost + 25%, or after 10 years at +50%.

.....not trying to justify the deal, just clarifying:)

got ya. snake oil. dont go near it.