Castlewood?

[chirpydog]

anyone had check this opportunity out again or invest with them lately ??

 

[Perisher]

A terribly bad investment, I read on some thread here before. Go and search for it on the money mind forum.

 

[chirpydog]

Yes... something i wouldn't touch with a ten foot pole..

 

[Shiny Things]

anyone had check this opportunity out again or invest with them lately ??

They're still soliciting investments? The hotel's supposed to be open by now - hell, it was supposed to be open in 2013.

You're supposed to have this sort of funding in place before you start building; that's even more proof that this is dirty (as if you needed more proof).

 

[koala2004]

The Dream Hotel in Phuket (previously was Nikki brand, now tie up with Dream Hotels) is opening in Nov 2015. Investors will be invited for a 2N stay in Mar-May 2016, air tickets included, to make up for the delay in opening as investors suppose to enjoy free stay in 2015.

They will have at least 20 hotel projects in Aisa....and I know they are working in Beijing too.

I invested since 2014 and inspected the development in Jun 2014 fully paid by CWG.

 

[lcornwisky]

Scam scam scam

 

[starfish.starfish]

The Dream Hotel in Phuket (previously was Nikki brand, now tie up with Dream Hotels) is opening in Nov 2015. Investors will be invited for a 2N stay in Mar-May 2016, air tickets included, to make up for the delay in opening as investors suppose to enjoy free stay in 2015.

They will have at least 20 hotel projects in Aisa....and I know they are working in Beijing too.

I invested since 2014 and inspected the development in Jun 2014 fully paid by CWG.

So have you gotten the 5-18% returns promised yet since you started from 2014....?

 

[Perisher]

Thread moved from SSI.

 

[koala2004]

So have you gotten the 5-18% returns promised yet since you started from 2014....?

I got special rate of 8% in 2014, the next payout is coming, likely variable payout depending on hotel business since it's opening in Nov 15. Look out for news! I was there in Jun 14 with fully paid inspection trip, the hotel (UC) and beach resort are impressive! Investors will have reserved villas and VIP rooms for booking yearly which is free for 4N.

 

[koala2004]

Scam scam scam

You just think so based on bad experiences you or others encountered....do you have facts and proofs/evidences to back up what you said?

In this world...many competitors like to spread rumours like this...nothing new to me.

 

[dork32]

I got special rate of 8% in 2014, the next payout is coming, likely variable payout depending on hotel business since it's opening in Nov 15. Look out for news! I was there in Jun 14 with fully paid inspection trip, the hotel (UC) and beach resort are impressive! Investors will have reserved villas and VIP rooms for booking yearly which is free for 4N.

if the hotel is yet to open, where did they find the money to pay the 8%?

nothing in this world is free. the cost will have to charged somewhere.

 

[dork32]

but i have seen them at bedok mall. i was wearing torn t-shirt, shorts and slippers. they totally ignored me.

but i must say that what they put up is impressive.

 

[koala2004]

if the hotel is yet to open, where did they find the money to pay the 8%?

nothing in this world is free. the cost will have to charged somewhere.

I am not sure...probably their operating fund. The money we invested is not hold by CWG anyway....it's by held in trust by Intercontinental Trust.

Each investor also gets individual insurance on the invested amount which is fully Insured by First American Title Insurance.

All these adds to my confidence of this company and this investment, that's why I invested. If not, I wont even touch it in first place.

Anyway, I am not really into this anymore, may not for future projects as I am more into crowd funding for SMEs now which give me even higher returns.

 

[koala2004]

but i have seen them at bedok mall. i was wearing torn t-shirt, shorts and slippers. they totally ignored me.

but i must say that what they put up is impressive.

Other source of confidence is the way they maintain comms with investors, in their sponsorship of sports events and for kids...its CE's constant appear in papers for interviews, frequent updates of hotel devt progress and official ambassador Irene Ang personally invested in CWG.

 

[Shiny Things]

I am not sure...probably their operating fund. The money we invested is not hold by CWG anyway....it's by held in trust by Intercontinental Trust.

Having your money held by a nice respectable bank means absolutely nothing. In the immortal words of Matt Levine:

“A highly rated bank will hold the note proceeds” = your concern should be getting your money back; if the best they can say is “your money will be burned in a secure and hygienic environment” then that’s bad.

Each investor also gets individual insurance on the invested amount which is fully Insured by First American Title Insurance.

So you know this insurance isn't what they say it is, right? "Title Insurance" is not "insurance for the invested amount"; if you've been told it's somehow insurance that you'll get paid, you've been lied to.

"Title Insurance" is a thing you get when you buy a block of land, and it just says that the title to the land is clean, that you actually own what you've paid for. It means "you own this piece of property", it doesn't say anything about what that property actually is.

These two particular things - saying "your money is held by a reputable bank, therefore you can trust us" and "you have title insurance from $reputable_title_insurance_company, that means you're insured" are absolute, 100% hallmarks of a scam.

Castlewood has all the hallmarks of being dirty.

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

And hey, here's one more thing.

When you're launching a hotel, you need to start prebooking at least three months in advance - more like six, if you're a resort hotel. Have a look at Starwood's list of new-and-upcoming hotels: with only a couple of exceptions, you can already book any hotel that's opening in 2015 and the first few months of 2016.

It's already the end of September; if they're not taking reservations yet, there is no way that hotel opens in December.

Note: so this is wrong: the hotel is bookable in mid-January.

 

[dork32]

I am not sure...probably their operating fund. The money we invested is not hold by CWG anyway....it's by held in trust by Intercontinental Trust.

Each investor also gets individual insurance on the invested amount which is fully Insured by First American Title Insurance.

All these adds to my confidence of this company and this investment, that's why I invested. If not, I wont even touch it in first place.

Anyway, I am not really into this anymore, may not for future projects as I am more into crowd funding for SMEs now which give me even higher returns.

if the money is from the operating fund, then it is not sustainable. They would be bleeding the company to pay out to the investors. if the payout is from profits generated, then it is sustainable.

if they are just paying out because they want to make investors happy, or to pull more investors in, then it is not very right.

 

[koala2004]

Having your money held by a nice respectable bank means absolutely nothing. In the immortal words of Matt Levine:





So you know this insurance isn't what they say it is, right? "Title Insurance" is not "insurance for the invested amount"; if you've been told it's somehow insurance that you'll get paid, you've been lied to.

"Title Insurance" is a thing you get when you buy a block of land, and it just says that the title to the land is clean, that you actually own what you've paid for. It means "you own this piece of property", it doesn't say anything about what that property actually is.

These two particular things - saying "your money is held by a reputable bank, therefore you can trust us" and "you have title insurance from $reputable_title_insurance_company, that means you're insured" are absolute, 100% hallmarks of a scam.

Castlewood has all the hallmarks of being dirty.

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

And hey, here's one more thing.

When you're launching a hotel, you need to start prebooking at least three months in advance - more like six, if you're a resort hotel. Have a look at Starwood's list of new-and-upcoming hotels: with only a couple of exceptions, you can already book any hotel that's opening in 2015 and the first few months of 2016.

It's already the end of September; if they're not taking reservations yet, there is no way that hotel opens in December.

It's not title insurance....it's insurance on the invested amount.

What I know is bookings have been ongoing and Nov is confirmed soft launch with official opening in Dec. In any case, lets see, each has its own sets of assessment in any investment. If I win, you lose...If I lose, you win. That's all. I am not asking anyone to follow me.

 

[koala2004]

if the money is from the operating fund, then it is not sustainable. They would be bleeding the company to pay out to the investors. if the payout is from profits generated, then it is sustainable.

if they are just paying out because they want to make investors happy, or to pull more investors in, then it is not very right.

Well, you may be right. But I just hope the hotel opens as informed by its letter recently and start operating so operating payouts will come in and hotel can be sold in 2020 according to plan by CBRE Thailand.

I just try and see if such investment is workable. I hope my faith and confidence is well placed.

 

[Perisher]

Well, you may be right. But I just hope the hotel opens as informed by its letter recently and start operating so operating payouts will come in and hotel can be sold in 2020 according to plan by CBRE Thailand.

I just try and see if such investment is workable. I hope my faith and confidence is well placed.

Wish you all the best.

 

[Shiny Things]

Note: So I was wrong and dopey on one thing back there. The hotel is bookable starting mid-January.

It's not title insurance....it's insurance on the invested amount.

It's title insurance. Title insurance companies don't go around insuring people's investments, and saying that they do is a favourite trick of property fraudsters.