Hello all, I have the opportunity to invest in a future development in Long Island, Bahamas. Briefly, an investment company (RUFO Investments Ltd) have purchased the assets of three Bahamian companies comprising of an existing development of holiday homes and a further 950 acres of undeveloped land which they are in the process of applying for planning permission to develop a marina, golf course and a further development of luxury residences. I am being offered the opportunity (via a friend who has already invested) to purchase plots of land (ready for development) in the exisiting residential development at approx 2/3rd of the price they believe the plots will be worth upon securing planning permission to develop the land (anticipated July 2006). If permission is gained then we have secured land and will be able to utilise the services of one of the involved property development companies to build a holiday home on the land. Once complete, the residence is expected to be worth approximately 60% more than the total investment. The other advantage is that I am then offered the option to purchase 'prime location' plots within the 950 acres of undeveloped land that they are planning to convert into the marina / golf course and luxury residence complex. It is expected that this is where the real money could be made (roughly a £100k investment for £500k return upon completion). The company has signed agreements with various private investors and have to date sold off around 150 of the 300 plots. Many of these have been purchased by small private property developers, wealthy sports people etc. After seeing a representative from the company, the reson for the offer is that they need to secure funds by selling off the 300 plots on the existing development in order to begin the development of the marina / golf course development. They have Bahamian lawyers set up, to transfer the ownership of land into the purchasors name, with a UK solicitor holding funds until completion of the agreement. 10% is required to secure the purchase with the remainder being required in July once planning permission has been granted. My friend who introduced me to the opportunity has a small property development company and has purchased 4 plots of land as he is a good friend and successful businessman, I am very tempted but don't feel I really know what I am doing here! It could be a good chance to make some great returns, yet it would preclude me from buying a second property in Budapest later this year. Does anyone have experience of such investment opportunities and how these companies raise funding? Is this the normal way its done? I have asked all the questions, regarding insuring against hurricanes, legal rights under Bahamian law, what happens if they don't get planning permission (which appears very unlikely) and there does appear to be a lot of people already committed to parting with funds. What else should I look out for - I'm very keen to ask RUFO Investments for their CV!!! to see what their track record is... I look forward to your replies Thanks, david