Thread: So I'm buying an island.

I just thought I'd share the good news! Besides my business partner, you guys are the first to know!

I'm preparing to buy a 10 acre Pacific islandfor an awesome price. I never thought this would be possible. Blue skies, even bluer water, pristine beaches, small mountain in the middle, covered in mango and coconut trees, totally undeveloped and no-one else near it for many miles. It's tropical paradise. While you guys are working hard in February 09, I should be sitting on the beach with a pitcher of ice cold lemonade, some cool reggae, a fishing rod and sand between my toes (providing it all goes right). </bragging>

I'll be building a small holiday home on it, and if things go right, a boutique resort on one side of the island - but more about that soon.

I don't have much time right now, but there's a good story behind it, so let me know if you want to hear it. I'll reply below.



:-)

Thanks PHL :-)

Here's a small shot of one side of it. bayimg - image: austinvestor-island-right-side.j - free uncensored image hosting

Sorry I can't embed the photo, I just uploaded it to the first free, no registration photo sharing site I found. It's small, I know.

I won't leave the photo up for long. The deal's still far from done, so I don't want its location getting known before I get it!

Ok, bullet-point first installment of the story:

- I've had the kind of year which takes its toll on you. Last year ended well. MBA, good businesses, big photo and article about me in our version of the WSJ. Good friends, good times.
- A couple of months ago, I was buried under legal battles with the idiot who owns a building I have a business in. Barely speaks English, disregards the lease except when something is in his favour, and fails to maintain the almost new building.
- My business is doing good, but profit is being eaten by legal costs to get the idiot to perform his obligations
- My exit strategy point has been reached: I am going to sell it soon. It has reached the point where its income is good enough and is over the exit strategy threshold.
- Idiot owner fails to renew lease after I exercise option for five more years. He has no basis for it. My company always pays its rent, and is a model tenant. More legal costs.
- Add some health problems. Not critical, but not good. No energy. Battle to get out of bed in the morning some days.
- I felt the strain from depressing/expensive battles with idiots. Wanted out immediately. Pushed on instead.
- Recently, a close friend (both personal and business) came back from holidays in paradise (in the vicinity of the island). He said the area has numerous opportunities.
- We thought about many things we could do. We are investigating a few.
- We found the island. Cheap. Accessible. Paradise.

In the end, if we can get it (the only problems I can foresee are legal/Government permissions), I'll be able to spend 6-8 months a year there, boating, fishing, swimming, sleeping in a hammock, drinking home-made lemonade, dancing to reggae on the beach. :-) Oh, and developing new businesses there.

You're telling me! It hasn't really sunk in yet. I was just on the phone to my business partner. He summed it up with one word:

Boomshakalaka.

Hey MJ & Phlgirl - if it all works out, come down and stay a while ;-) Bonfire and happy juice on the beach, hammocks, tanned feet and all the fish you can eat.

Standing invitation also for Diane Kennedy :-)

Wow congratulations looks like there is plenty of good times to be had there.

Is it a French Polynesian Island?

Originally Posted by michael

Wow congratulations looks like there is plenty of good times to be had there.

Is it a French Polynesian Island?

Thanks Michael! I hope it all goes the way I plan. As for its location, that's still a secret! ;-) Give it a few months, see how the deal goes, and once that's done, I'll post comprehensive photos, and even invite a few people! :-)

Wow, there's now even a smiley for my mood: - It even has the perfect name: "groove"

Originally Posted by australianinvestor

Thanks Michael! I hope it all goes the way I plan. As for its location, that's still a secret! ;-) Give it a few months, see how the deal goes, and once that's done, I'll post comprehensive photos, and even invite a few people! :-)

Haha obviously you're over the moon right now as evident by this post http://www.thefastlanetomillions.com...html#post60646

Seems things are going well for you so thats great news, and good luck with this deal

Oh Russ, that put a smile on my face! I almost started singing along (I'm sitting at my desk inside my office in my store) and I was instantly transported from suburban Australia to the islands.

Thanks!

Originally Posted by Rawr

Congratulations!! Owning an island is pretty freaking cool!

Thanks! :-)

Next beer and pancakes at my beach, eh?

[ame=http://www.youtube.com/watch?v=yjnvSQuv-H4]YouTube - Bobby Mcferrin - Don't Worry, Be Happy[/ame]

I'm so there!

Fantastic! Thank you for the inspiration! I'm sure the island will help with your health issues as well. It's going to be a bit easier to wake up to a reduced stress lifestyle every day.

And I'm sorry about the dispute with the building owner... some people just lack basic human compassion and understanding.

Wow, that's awesome!!! Congrats and good luck!

If you keep three or four acres for yourself and leave the rest for a resort, would that be enough? I feel like 6-7 acres isn't all that much for a resort...

Maybe you could use that to your advantage, though? Make it very exclusive and ultra-luxurious? A niche perhaps?