(The comments and ideas in this editorial are distilled from Michael Cobb's annual letter to the shareholders of ECI Development. Also pasted below are a poem by Rudyard Kipling and an excerpt of an article by John Mauldin. Kipling gives some of the best advise any parent can give a child as well as some great concepts for corporate governance. Mauldin gives compelling testimony why, despite the tough times right now, we should remain optimistic about America's future. )

 

Dear Shareholders,

 

The New Year is a time to reflect upon the past, but more importantly, it is a time to forecast the year ahead and chart a course for ourselves that allows progress in spite of a wide range of unknowns, uncertainties, areas of challenge, and areas for opportunity. The challenges today range from forces largely beyond our control, like the world economy, attitudes towards real estate ownership at this specific moment, political and economic challenges in North America, political and economic challenges in Latin America, to challenges we have some measure of control over, human resources, fiscal management and operations.

 

The job of the Chairman and CEO is to look into the future and set a course for the company despite these unknowns. Strong principles always set a strong foundation. My favorite principles are the five P's, people, planning, prudence, patience, perseverance. There is a great poem by Rudyard Kipling pasted below that captures the essence of these in a wonderful way. Suffice it to say, principles are paramount.

 

People.  "It's always about people." Great ideas are simply ink on paper, without an excellent team to execute the plan. The best companies are blessed when they have recruited a talented team of professionals to run the company. Joint venture partners, suppliers, and associates who do far more than carry their weight are vital. Shareholders too are an important part of any corporate team. The tipping point is a critical event, and it's generally the sum of hundreds, thousands, or millions of single voices all singing in harmony that finally allows the mainstream to hear the great idea might make sense for them too.

 

Planning is both the Boy Scout motto, "Be Prepared," and the quote, "Prepare for the worst and hope for the best." Planning is a roadmap for progress. Nothing substitutes for a well designed and defined plan. Yet we must allow for adaptation and change. The competitive environment is dynamic and what makes sense today, may tomorrow be dysfunctional.

 

Prudence, as underscored by ECI's 100% equity funding philosophy, may not have appeared wise in the heady days of the real estate market a few years ago. But knowing that there are things you can't know, demands caution even when all others are running full speed ahead. The decision to grow slow, without debt, looks pretty good in hindsight.

 

Patience is active waiting with a purpose. Thomas Edison said, "Hurry while you wait." Personally, it's reading while I wait in line at airports. For a company, it's doing a hundred things that can advance the cause of a company without a firm time table for success. A focus on finding the right clients and partners pays off with huge dividends, but it rarely happens overnight. Rather it is with patience that one harvests from the multitudes those which will serve the company best and those that the company can serve best.

 

Perseverance is continuing to do the hundred things required by active patience even though the results may not be immediately evident. ECI has proven its mettle through the tough times, delivering homes, condominiums, and a golf course while most in the industry ducked for cover. The results are visible, concrete, and critical. The wary consumer wanting a home overseas is no longer likely to believe grand stories and wide eyed promises.

 

So what does the year ahead look like? Right up front let me state that I remain optimistic for the future. "Prepare for the worst and hope for the best," means be realistic and remain optimistic.

 

There are some apparent reasons to be happy about the economy at the end of 2009. The markets are up sharply from their springtime lows. Generally about half of people's losses since 2007 have been made up with these gains. The economy seems to be growing again and housing prices have largely stopped plummeting. However, these optimistic facts may cover over some truths that aren't so positive.

 

Many of the economists and analysts I read indicate a market about 40% overvalued from a price to earnings standpoint. One of these, John Maudlin, is especially prescient. Included at the end of this article is part of an article he wrote last fall that is especially insightful. He discusses his reasons to remain optimistic in the face of some serious fundamental challenges. You'll also find a link to subscribe to his free e-letter if you find his thoughts compelling.

 

With the Dow trading at 10,000+, where are the earnings of companies today to support the market's valuations? The average PE is now 22. With an economy projected to grow at 3.62% and official unemployment at nearly 10%, how does this valuation make sense? Once the cash infusion from the Government ends, how does the rally continue?

 

New home starts continue to be slow, and there remains a large inventory of unsold product, especially in the "bubble" areas of Florida and Southern California. 84 major US builders, and hundreds of smaller ones, have gone out of business since 2008. Unemployment is high and with taxes on businesses likely going higher, hiring will be slow or stalled. The specter of inflation caused by trillions of dollars in helicopter money is most certainly awaiting us around some nearby corner.

 

In the Caribbean and Latin America, development projects like the Ritz Carlton in the Turks and Caicos have stalled and in many cases left "white elephants" on the beach. In the Guanacaste region of Costa Rica, the leader in retiree and second homes in Central America, the number of building permits in 2009 was only 7% of the number in 2008. In other words, construction starts fell by 93%. Developers throughout the region are facing the same kinds of difficulties as US builders and many are simply closing up shop and going home. These are financial realities that shape our marketplace. We don't work in a vacuum and clients make decisions based on these same realities.

 

So how does a Latin American real estate development company first of all survive in this market, and secondly, how does it thrive. These are the two fundamental questions we are asking and have been asking for 2 the past two years. The answers produced allow us to prepare and work towards the immediate goal of survival, and the second goal of continuing to build our business.

 

On the survive side, we are making it. Cutbacks and layoffs while painful are critical. Last year we trimmed 1/3 of our staff and the balance took a 25% pay cut. Additional downsizing in 2010 may be required with further reductions of operational overhead. However, there is a limit to which a company can be cut back and still continue to operate and provide services to existing clients and be actively engaged in the market to attract and serve new clients. We are nearing this point.

 

Crisis is also a time of great opportunity. Competitors are dropping out of the race quickly and only the strong will see the other side of this market downturn. While difficult for business, there are silver linings in most crisis clouds. The first is that competition narrows. While not a fan of seeing other people hurting, this thinning by market forces is a healthy process. The types of real estate product in the region going by the wayside are the speculative, ghost town products of empty lots on the beach. The sales pitch of, "Buy this lot today and it will triple in value over the next 2 years," doesn't hold water any longer. The speculative buyer who wanted to leverage condos and properties for maximum return has largely left the market for now.

 

So who's out there buying? This is the fundamental question. Right now, it is the consumer buyer who wishes to be south-of-the-border for quality of life and cost of living reasons. The hard times economically in North America reinforce this need and are driving more folks to consider this alternative.

 

Ernst and Young made a study in July 2008 where they analyzed the financial reserves of baby boomers. The reality of what they saved and their likely future cash need paints a bleak picture for retirees still thinking inside the box. According to E&Y, 60% of new retirees are going to outlive their assets if they don't cut back spending significantly. They simply have not saved enough. And what about Social security? COLA or no COLA, the government will surely inflate away some of what is owed to seniors. What alternative is there?

 

With this state of affairs, there is strong reason to believe that ECI Development's client base will grow. It is not just the folks already looking overseas for retirement possibilities, but will include others who hear stories from their pioneer friends who went first and discovered a better quality of life and paradoxically, a lower cost of living. These buyers want services, amenities and neighbors. Fortunately there are companies like ECI who can and do offer these critical items to the person ready to begin spending time in the region.

 

While not the sexy part of the market, the decision to focus on middle class product also seems wise in hindsight. The nouveau riche buying million dollar or more second home properties seems to have all but dried up at this point. That market was largely fueled by home equity lines in the US. There will continue to be some traction for all levels of product, but recent surveys of developers show a strong trend toward smaller, more affordable homes in the second home and retirement home market.

 

So where does a real estate development company go from here? Surviving the downturn for as long as it lasts is first and certainly most critical. The bottom of the cycle may be longer and more pronounced that expected or hoped, but by hunkering down and keeping costs low, it will be possible to make it through.

 

The second important factor is how to thrive in this tough time and take a larger and larger share of the market that exists. There is a market. It might only be 20% of what it once was, but it exists, and it is much more discriminating and specific. These qualification factors work to the advantage of a well prepared company. Prospects and clients are now interested in owning and using a home or condo in Latin America. Promises of things to come don't work for folks wanting to move and live there right now. Only resort communities that have reality, homes, condominiums, golf courses, tennis courts, club houses, restaurants, residents and neighbors will do well in this environment.

 

ECI Development continues to look well into the future and sees the opportunity to be the Sun City of Latin America. We are actively building an audit regime for the companies and our focus is on producing the financials and business models for a pre-IPO round of funding. These funds will be used to make the acquisitions of property in Panama, Argentina, a tropical highlands piece, and additional property in Belize. These are the strategic acquisitions that will let us serve the retiring Baby Boomers with the widest range of geographic choice in the region.

 

Shareholders in ECI know that true diversification means more than a basket of US stocks and bonds divided up into the various sectors. True diversification means owning non-dollar denominated assets, foreign stocks, precious metals, currencies, and overseas real estate. They know that they have the power to make decisions and understand that their financial future is in their hands.

 

As a friend of mine, Dr. Susan Clancy, a Harvard Ph.D. says, "There are two kinds of people. Those who accept the responsibility for their actions and those that assign blame and externalize cause for what happens to them." She's right. By in large, ECI shareholders fall into the category of taking responsibility for their life and its direction.  If you are reading this and you are not a shareholder, you may be that kind of person too. If so, be in touch for more information.

 

While the future is uncertain, we can and do look at the year ahead and make best guesses at how we can navigate wisely into the unseen future. We also understand that a plan is a map, and there are likely detours and we'll have to make adjustments along the way. But a plan and direction is far better than letting the winds of fate blow you randomly across the unknown waters.

 

As a coda to this year's comments, I'd like to reference a new favorite book of mine "Halftime" by Bob Buford. This book talks about a transition point in life that many of us reach. It is a point at which we, at a deeply heartfelt level, want to transcend from a point of success to one of significance. Success is what we've done for ourselves really, a way to measure our achievements in our own minds and perhaps against others as well. Significance is largely a feeling we have when we know we've made a difference in the lives of others. When we reach this point and find a desire to transition from success to significance, it calls for soul searching, because success and significance don't always come in the same package.

 

But we should feel extremely lucky. ECI gives us the opportunity to find success and significance simultaneously. As E&Y discovered, there are millions of retirees who face a serious financial challenge in retirement. If the markets drop further, the challenge is heightened. The prospect for these retirees of making daily choices of what to cut will be horrible. Do they choose to do without heat, food, or medicine? These are the hard choices that many of the new retirees are going to face. We at ECI offer them a better alternative south-of-the-border. Some will see it and take advantage of what we know they can have, a happiness unattainable in the US on the limited resources they posses.

 

As we serve them, we will profit and we will distribute those profits to shareholders. This is "success" for the company and those who are part of it. As we serve these people we offer them an enhanced lifestyle for less and solve a critical problem they face. This is "significance" because we have done a wonderful thing for others. The marrying of these two results in one effort is a special opportunity, for it is rare that success and significance come packaged as one.

 

Take a look below at the poem by Rudyard Kipling and the article by John Mauldin. They are both exceptional and offer additional insights and clarity. Then enjoy a fantastic year knowing that your company is in good hands and is navigating the difficult challenges with the strong principles of people, planning, prudence, patience and perseverance.

 

 

Michael Cobb
Chairman and CEO
www.ecidevelopment.com

--------------------------------------------------------------------------------
 
If
Rudyard Kipling

 

If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you
But make allowance for their doubting too;

 

If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise;

If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two imposters just the same;

 

If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools
Or watch the things you gave your life to, broken
And stoop and build 'em up with worn-out tools;

 

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;

 

If you can force your heart and nerve and sinew
To serve your turn long after they are gone
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!";

If you can talk with crowds and keep your virtue
Or walk with kings - nor lose the common touch;
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much;

 

If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son!

 

--------------------------------------------------------------------------------

Why I Am Optimistic About the Future

John Mauldin

 

I am optimistic by nature. An entrepreneur friend of mine gave me a term that I have grown to love. She calls it "psychic income." It's that bit of hoped-for future income that is in our minds, that drives some of us, inflicted with the entrepreneurial gene, to do the next deal, make the next big plan, scheme yet another scheme to finally hit whatever counts as the big one for each of us. How much better would our life be, how our problems would go away, if only this one thing would come about! It has not yet become real income, yet we live and act as if it is almost real. We can feel it getting ready to happen. It is still in our heads, this psychic income. Yet it is in some ways real for us.

 

I get my propensity for psychic income naturally. My Less-Than-Sainted Dad lived on psychic income. He was always trying to invent something or launch a new business. He had large ups and downs, and at times we would be now classified as below the poverty line. Not that I knew that as a kid. Mostly, Dad lived in his dreams, though often alcoholic ones, of a better future, but he never gave up. In his mid-70s he was re-inventing the small printing press in his garage, with plans for national production. It was only after we had to take his car from him in his mid-80s that he quit. It was a very sad day. I now know we had not just taken his car, but far more than that: his dreams, his psychic income.

 

For some, I should note, psychic income is not just about money. It may be about the next promotion or the next big discovery. For some of us, it is just having our ideas accepted and validated in the court of human opinion. It is simply what drives us.

 

I graduated from seminary in the winter of 1974, entering the workforce in the hard year of 1975. We were coming off a recession, about which I technically knew little. I did know jobs were tight. I was unknowingly faceing another eight years of high unemployment, a tumultuous stock market, rising commodity prices, high inflation, and rising interest rates. Japan was just beginning to be a real force in the world. People were still buying bomb shelters, as Russia was a feared and powerful enemy. As the price of gold rose, there were those who told us the dollar would soon be worthless (the Fed was a problem and the deficit was out of control), and so we needed to buy yet more gold and also a year's worth of dried food.

 

Not the best time to start a business; yet within a year or so, I ended up starting my own print brokering business, as jobs were scarce and that is what I knew. I often get letters from readers giving me grief about my rich hedge-fund friends and our fabulous wealth, and how little we relate to the real world. And for some of my rich hedge-fund friends, that may be true (although for most of my friends that is not true). And I am sadly far from rich, although I have dreams.

 

I remember waking up in the late 70s at 2 AM with a knot in my stomach, because a small bank was in trouble and had called my loan (an amount which now seems so small, but at the time it was all the money in the world). How would I make payroll? Gas and food? I know what it is like to work long hours and live on a very tight budget, with some months being behind on everything, while all the while your family is growing.

 

But I got lucky, and through a series of events got into the investment publishing field in the early '80s, then partnered in an investment firm, and then went on my own in 1999. I stuck this letter on the internet in August of 2000, and things just took off.

 

But how many setbacks, bumpy rides, and false starts have I gone through over the decades? Frankly, I try to forget. But the point is that each of those episodes was another learning opportunity. And I woke up the next morning and started trying to figure it all out.

 

But it's not just me, it' is tens of millions of entrepreneurs and businessmen and women in the US, and hundreds of millions worldwide, that have the same ambitions and drive. Every night we go to sleep on our psychic income, and every day we get up and try to figure out how to turn it into real income. And some of us are talented or lucky (that would be me) enough to make it happen.

 

Long-time readers know that I think we are in the midst of a secular bear cycle, much like 1966-82. The next decade is likely to produce less than average growth, due to structural problems and the bad choices we have made with personal and government debt. I am perfectly cognizant that unemployment will be over 10% for a protracted time. That is tragic for those unemployed and underemployed. I realize the entire developed world has huge and seemingly insurmountable pension and medical obligations over the next few decades, which we cannot possibly hope to meet. The level of angst that we will live through as we adjust will not be fun.

 

But the point is, that is just what we do - we live through it. In spite of the problems, we get up every day and figure out how to make it. Would it be better if we could get our act together in (pick a country) and not be forced to adjust because we have come to the end of the line? Yes, I know we will likely have some very tumultuous times ahead of us, making business and investment decisions more than a little difficult.

 

So what? The future is never easy for all but a few of us, at least not for long. But we figure it out. And that is why in 20 years we will be better off than we are today. Each of us, all over the world, by working out our own visions of psychic income, will make the real world a better place.

John Mauldin, Best-Selling author and recognized financial expert, is also editor of the free Thoughts From the Frontline that goes to over 1 million readers each week. For more information on John or his FREE weekly economic letter go to: http://www.frontlinethoughts.com/learnmore

 

To subscribe to John Mauldin's E-Letter please click here:
http://www.frontlinethoughts.com/subscribe.asp

 

 

Thank you for your interest in visiting Nicaragua and Gran Pacifica, our 2500 acre resort open and ready for you to enjoy right now. You are receiving this e-mail because you’ve either asked for information about our Chill Weekends, signed up for one of our many newsletters, inquired about golf memberships, or have ordered one of our free Nicaraguan Handbooks on line.

 

Please note that our April Chill Weekend is close at hand, so I’m also sending you the schedule below. If you cannot make it in April, please plan to come in May or June.

 

Attending a Chill Weekend is the best way to experience Gran Pacifica. This experience will help you decide if you’d like to invest or live here. Our Chill Weekends are a great value, so come and have a great time while we show you a slice of life on the Gold Coast of the Pacifica!!

 

Keep reading to learn more about Nicaragua, Gran Pacifica, and our Chill Weekend dates, pricing and agenda...

 

You are among thousands of investors and vacationers interested in the deep-blue water, sandy beaches, and continually warm weather in this delightful Central American country. Whether you are looking for a great investment, or a year round home, Gran Pacifica has much to offer. And, this is a great time to invest.

 

Gran Pacifica started construction only four years ago, and now boasts over 50 residences, including the Las Perlas Condotel, homes, casitas, and more completing each month. This resort, with 3.5 miles of beach, is located one hour west of Managua. You’ll drive through the quaint countryside, with oxen-drawn carts moving slowing at the side of the road. It is not unusual to slow down and let a large herd of local Brahma cattle move across from one pasture to another, driven only by an 8 year old boy with a stick as tall as he is.

 

Once on the property, you’ll find swimming pools, restaurant, horses for rent, a completed golf course (next nine are under construction), and homes and condos going skyward. Bring your own clubs, or rent a set from the golf professional. Enjoy two world-acclaimed surf points on our property, or find yourself on a two mile wide swimming beach, with a more gently rolling wave. Pressurized potable water, high speed internet through fiber optic lines, cobblestone streets, hand-laid Old Chicago style brick sidewalks, streetlights, and storm drains are just a few of the many amenities and services that have been installed for your "creature comforts".

 

If you are seeking somewhere to spend 2 weeks per year, place a property into the rental pool, or come down to live full time (own or rent), Gran Pacifica has it all. Selections of different sizes of homes and condos start in the low $100’s, and luxury penthouse floors or larger custom homes are available up to $500k. All homes are built to North American standards, and include lots of high quality ceramic tile, air conditioned bedrooms, seismic construction standards, hot water to all faucets, and dramatic color selections.

 

For you, our newest clients, Gran Pacifica Resort has developed the Chill Weekends. For only $349/ first person and $166/second person, you can stay in a rustic hotel in Managua the first night, two days and a night at Gran Pacifica Resort, a day trip to Granada and Masaya, then back to Managua for the flight out the next morning This discounted price covers ground transportation, most meals, along with a cocktail party at the sunset bar on Saturday night. Gran Pacifica adds, at no additional charge to you, a local tour of the historic city of Granada, with old world architecture, and a visit to the artisans’ booths in Masaya. There is limited space for the first 12 responses, so act now to reserve you space at one of the upcoming weekends.

 

We are holding Chill Weekends on the following weekends:

 

•    April 16th-19th, 2010
•    May 21st-25th, 2010
•    June 25th-28th, 2010

 

These weekends will begin on a Friday afternoon and end on Monday morning. The Chill Weekend itinerary will include:

 

* Friday: All you need to enter Nicaragua is a valid passport with at least 6 months remaining and a $5 bill, USD. Because most flights come in late in the evening, you’ll be met at the airport by our driver, who’ll take you to a local rustic hotel.

 

* Saturday: After we provide breakfast you take an hour’s drive to the Gran Pacifica Beach and Golf Resort. You’ll learn about the ownership of the property, title work, and have any questions answered about enjoying the lifestyle at Gran Pacifica There will be ample time for questions you might have. After the morning presentation and site tour, lunch will be served. You’ll enjoy playing golf, riding horses, swimming in the ocean or at the pool, and take a look around the Gran Pacifica resort itself. Later in the evening there’ll be a private beach BBQ or other dinner option. No need to make dinner or entertainment reservations that night.. We’ll organize and provide for everything, including a cocktail party and dinner.

 

* Sunday: After breakfast, if interested, you’ll have a chance to learn more about mortgages, financing, and closing processes during an informative session at the resort. Or possibly you may decide to extend your trip and stay for a couple more days (please make these arrangements in advance in order to take advantage of a discount from rack rates).

 

*Alternate Schedules: The above schedules may be adjusted to accommodate either a very small or unusually large group.

 

The best way to reach Nicaragua is to fly to the Augusto Sandino (Managua- MGA) International Airport via Continental, American Airlines, Delta and TACA or Copa Airlines.. The main connecting airport hubs include Houston, Miami, Atlanta and Los Angeles. It takes between 2.5 to 3.5 hours to fly from these hubs to Managua.

 

Although $349/first person and $166/second person is a very low price for your three days in Nicaragua, you certainly have the option to spend more time here at our discounted rates. Just let us know the exact weekend and dates you prefer to stay and we’ll start the process to lock in your reservation at the resort. Also, be sure to let me know if you would like to reserve more nights at the resort. )

 

I look forward to meeting you and sharing my experiences transitioning to Gran Pacifica. I hope to see you here soon!

 

Sincerely,

Kent Payne

 

 

Believe it or not, Karaoke is alive and well at Gran Pacifica.

 

Who would of thought in Nicaragua? The first Karaoke Night was shared by many home owners, residents and guests. Everyone had a blast with with singing "The Oldies but Goodies." Below is Phyllis Haugen and Mel Pyatt singing a duet of "Suspicious Minds" by Elvis.

 

While at PriceSmart last month, I was doing my weekly shopping and low and behold, Karaoke Machines were displayed in the electronics department. I immediately saw the long term fun and entertainment that all the home owners, residents, guests and renters could enjoy.

 

The investment already has paid for itself in fun, happiness and a rock 'n good times enjoyed by all. It was really funny in inviting folks, over.

 

Phyllis and Mel stole the show with their duets

 

They were really good, and the audience wanted encores

 

Tommy and Alyce waiting to take the stage

 

Oh man, how much more of this can I take. My ears hurt

 

Most of them said, "I will come but I sure won?t sing." By the end of the evening, they were all fighting for the microphones.

 

 

Yes, it's been a long road to this point but we are playing golf at PGC.

 

 

Vic Gennari checked into the clubhouse and he played the first round and shot rather well despite a few adventures.

 

The course is maturing nicely although we are still fighting a water problem/pump problem. We'll work through this as we have many other obstacles.

 

Our first tournament was just completed; a charity event for Hope and Development and close to $3000 was raised and donated at the tourney. Two teams tied for low scramble score at 4 under par 70 with all 8 teams within 4 shots. The group of Roger Keeling, Connie Orlandini, Chris Yuko and Evan Dyer won the scorecard play-off with Greg Faust, Ron Bruce, Jack Griffin, and Denise Buckner, and both of the closest to the pins were captured by Jack Griffin.

 

Irrigation

 

New Club House

 

#5

 

#4

 

Congratulations to all and thanks to everyone for the help and participation. Let's make next year even better! Some of our pro shop merchandise has arrived so come in and checkout sporty clothing lines for women and men.

 

Unfortunately, the range balls have not appeared, there's a 1000 dozen out there somewhere waiting to be shipped and the nice new range ball picker is here for just such an occasion. Due to the slight delay in opening the calendar of events at PGC has changed so the following is the latest:

Schedule

 

Jan. 31 Sunday - couples golf 2:00PM 9 holes
Feb. 4 Thursday - Men's Day noon -
Feb. 9 Tuesday - Women's Day time to be anounced
Feb. 11 Thursday - Central American Drinking Cup Tournament
Feb. 14 Sunday - Valentines Day Couples Golf 2:00PM
Feb. 18 Thursday - Men's Day noon- Cigar & Scotch Night
Feb. 23 Tuesday - Women's Day
Feb. 28 Sunday - Couples Night Golf meet at clubhouse 5:30PM
March 4 Thursday - Men's Day noon -
March 9 Tuesday - Women's Day
March 17 Wednesday - St. Patty's Day Couples Event
March 25 Thursday - Men's Day noon -
March 30 Tuesday - Women's Day
April 8 Thursday - Men;s Day noon -
April 11 Sunday - Couples Golf

Watch your email for details on these events and other happenings

 

 

The Tasca on the Ocean restaurant opened in November to rave reviews.

 

 

After an extensive renovation to the restaurant in October, we have been pleased to receive an incredible amount of positive feedback related to the new operations.

 

 

 

 

We hope you will join us in welcoming Tasca General Manager Christian Messarra to the team. As well, be sure you meet the remainder of the Tasca staff, including Chef Johnny, on your next visit to Gran Pacifica.

 

 

In late December we added twelve new residents to the Gran Pacifica property!

 

Please help me in welcoming Sultan, Vanidosa, Paulina, Bella, Espiritu, Coco, Cadet, Copper, Chocolate and Sandy to Gran Pacifica. They are the residents of the new La Vida Nica Stables, located near the maintenance area. Currently, they are in temporary quarters, but plans are being discussed to establish a full.

 

 

 

  

Equestrian Facility on the property. We will keep you posted on the progress of the discussions and let you know if the facilities will move forward.

 

In the meantime, please stop by and visit the horses (they need attention and love). And, if you are really up for a thrill, talk to the La Vida Nica office about scheduling guided horseback tours of the property and sunset beach rides. The rates are low and the fun is large!

 

Finally, please stop by and meet the other two new residents; Martin, our Stable Manager and Trainer, and his trusty sidekick "Winnie", the little white dog who is almost always at his side. Martin also gives riding lessons, which can be scheduled through the La Vida Nica office. So, no excuses! Start riding!

 

 

In life, there is always bad news, but we all strive to make lemonade out of lemons. The bad news is that Dane and Julie Thorwaldson resigned and moved back to the US in December. They will be missed, but we wish them well.

 

Now, we move on to making lemonade. We are pleased to announce that Angie Martin has agreed to become the General Manager of La Vida Nica. Angie will be responsible for all Rental and Property Management at the Las Perlas condominiums, plus the single-family homes that are contracted into the rental pool. Angie brings to La Vida Nica a long history of successful management positions and her incredible knack for simply getting things done and done well. We are thrilled to have Angie, along with her trusty side-kick Gloria Salinas, on the La Vida Nica team.

 

 

 

 

We hope that you will join us soon and personally experience all the fabulous changes that Angie has already instituted.

 

 

In the last couple of months, we have seen significant activity at Milagro del Mar Beach Club. Sales inquiries have actually increased fairly dramatically, and there were two units sold with another unit reserved.

 

Construction of the Main Building has reached the second level and will continue to move forward. The plans have been finalized for the redesign of the site plan, and we are all thrilled with the results.

 

In January, the re-grading of the water way began. Based on the new plans, the new Master Plan for MdM is shown below.

 

 

 

Dear Friend,

 

Our CEO, Mike Cobb, has been working with new ideas to bring our friends, relatives, and other interested persons to affordable ways to enjoy the warm days and nice evenings of Gran Pacifica.This new idea might be right up your alley, and not break the bank.There are only five positions left of sixteen in a fractional ownership condominium in the first building at Las Perlas.

 

Unit #121, with two bedrooms and a fold out (for a third sleeping area), can accommodate six adults.It is already being rented regularly, as it is situated right on the ocean front overlooking the swimming pool, not to mention the world class surf waves just 75 yards away and the golf course opening this December. It is also located near the restaurant, should you choose not to use the full kitchen, and serve your meal on beautiful black granite countertops.Currently, you can own an entire condo up to $599k,but Mike thought it might be advantageous to have a great entry price for 3 weeks usage and ownership for ..$28,323.

 

2nd floor corner unit overlooking ocean, golf course and pool.

 

Enjoy oceanfront sunsets from your living room and verandah.

 

    * Over 1700 sq. ft. of living space, including 400 sq. ft. of terraces.
    * Granite counters, all appliances, appointments down to the silver.
    * Annual expenses, including insurance, HOA, utilities, and maintenance fees are only $787/year.
    * Social membership in the golf club is included.
    * See the floor plan for the Granada two bedroom condo here:
      http://www.granpacifica.com/assets/docs/granada_rivas.pdf
    * Inquire to adminATsunnycomfort.com, and ask about the Fractional Ownership.

 

Mike hopes you'll join him by contacting Kent today.These five positions will not last long, and you can start your plans for your next vacation by enjoying your own condo, or receive your share of applicable rent.

 

Regards,
Sales/Gran Pacifica

 

Ps: Even if you own a lot or home at GP, what a great opportunity for investment as GP grows and adds the golf course, homes, and additional condominium projects.

 

 

Dear Friend,
 

The front nine of The Pacifica Golf Course at Gran Pacifica is nearly complete. You'll see from the photos below that Tommy Haugen and his team continue to move ahead quickly, creating a wonderful ocean side course. Right now, the first nine holes have irrigation and electronics installed. They are cut, shaped, and seeded. As the summer rains move in, and the irrigation is turned on, it will grow green and be playable later this year.

 

The grand opening is scheduled for December 1, 2009!

 

Pacifica Golf Club / Milagro del Mar Charity hole-in-one contest April 2009

 

Hole 4, Par 3 open for play December 2009

 

You are among a select group to receive the CEO Special announcing the opportunity to own a golf course home site before the course greens up for play in December. The special Golf Front Properties are on the second nine of the Ruby Course. This nine is also under construction. When the reality of the first nine is apparent to all with eyes in just a few short months, the values on the second nine are set to soar.

 

Home Sites on the Ruby Course

 

    * Ruby Course scheduled to finish in 2010
    * Almost ¼ acre, all about 10,000 sq. ft. lots
    * Deferred HOA expense, save several thousand $$$$
    * Closing costs paid if you close before the end of June
    * Build later, resell, or hold to appreciate....your choice
    * Will be valued at $69,990 on July 1st.

 

Home sites on the first nine are currently priced from $119,900 to over $200,000. The value of these lots should also escalate as the first nine grows in and play begins. If you want to own an "early in" opportunity, a limited number of holes on the Ruby Course are right now priced at only $39,000. Financing is available. If you want a package and plan to resell some or all in the future, then you can own 3 for $99k. And we’ll pay the closing costs if the transaction is complete before the end of June. At the close of business June 30th, any remaining inventory will return to $69,990 with closing costs of approximate $2000. Own now, and save thousands of $$$$ on this select group of home sites.

 

The front nine are only a few months of grass growing away from play. The second nine, the Ruby Course, are under construction. Know that when the Ruby Course completes, the value of the home sites in this offering should be tremendously enhanced. You may want to take advantage of this phenomenal opportunity.

 

Be well, and respond with your email commitment today!!

 

Mike Cobb, CEO
Gran Pacifica Golf and Beach Resort