What do you all think about starting a crowd funding program to but the moondance villas. .?
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What do you all think about starting a crowd funding program to but the moondance villas. .?
I dont think it works. It makes more sense to find an investor/ investment group who believes in you and your ability to run the property.
Personally, I think that is one of the worst ideas ever. Why don't you give us an idea of just how that would work? Equity share per dollar? etc.?Quote:
Originally Posted by original spanky
No way, it's mine all mine. Just as soon as uncle powerball smiles upon me... ;)
Well... It worked for the fella with the potato salad.
Due diligence, I would live in the neighborhood for (6) months and see the runnings on the beach . Network with neighbors on either side, look at 5 years of utility bills. Great property just higher price point that guests probably don't want loud parties several times per week
You could allways do quarter share. 4 owners per unit. Owners rent out unused time to pay bills and upkeep. It wont pay for itself but will defray some costs. May make profit when you sell in furture
You can be onsite management(or ill do it for you). But as Gail said better live in the area for awhile and get a feel for doing business in Negril.
No matter how you do the math it just doesn't add up, unless you got a big bag full of money it will never even break even!
Hope it doesn't turn into another T-Water...
Oh, my gosh, me too! Have thought about buying in Negril but not worth it. IMO, it's better just to rent.Quote:
Originally Posted by Candyman
Candyman,Quote:
Originally Posted by Candyman
Moondance on the beach is for sale. The owner will want to present it in the best light.
T-Water is not for sale. The foreign owners are continuing to pay the land taxes so they technically dont have to do anything to the property.
The foreign owners got into a dispute with the local parish council for doing work without a permit and were told to cease the work in progress. After heated discussions, the foreign owners left the property as it was, put up the required zinc fences and left Jamaica leaving their blight on our beautiful beach to rot and decay. But since they continue to pay the required property taxes, the government's hands are tied. Legal solutions are trying to be found.
Five hundred investors @ $10,000 US each, set up a condominium corp. Twenty units available for fifty weeks per year equates to 1,000 weeks rental availability. Each owner gets one week per year, remaining 500 open weeks rented out to defray operating expenses. What could go wrong?:confused:
Attachment 38255Quote:
Originally Posted by sunray
Lots of good ideas. Accompong sounds like you have an interest. Why don't u step up and write the first check for $10,000
In the 1980's, the prominent dentist, Dr. Munroe, built 2 blocks of apartments on land he owned. He then sold the apartments as timeshares to raise the cash to build the, then, Poinciana Beach Resort which since became Beaches Sandy Bay and is now Azul Sensatori.
Oh, the good Ol'Days, Poinciana, Mahogany Inn, nothing on Bloody Bay, I understand evolution but just had a pleasant day dream of "remember when"
The Mahogany Inn had a little walk up take out counter called ARAWAK FAST FOOD! Too Crazy.
Thanks for the invite "original" spanky (and not any of the spankys who are mere imitations and thus not as pure spanky) :rolleyes:Quote:
Originally Posted by original spanky
I have money and have already invested it in Jamaica just not Negril. I have an "interest" in Jamaica already.
If you are looking for a fool who would risk his money on something as dubious as a Crowd Funding venture that has little chance (if any) to either come to fruition or eventually become a success, then you can count me out. I have managed to get my expenses in line to be able to live in Jamaica for around $600 US per month every month so this would be out of my wheelhouse of financial expertise.
How about you "original" spanky? Step up to the plate and do a cliff jump into the uncharted ocean!
Attachment 38266
Peace and Guidance
Hey - Let's stop breaking the brothers chops.. This is something EVERY one of us has dreamed about.. I would LOVE to have a second home in Negril - a place to retire and finish out this journey of life - and so would all of you.. Dreamers are what make the world go 'round - and dreams become reality - If this solidifies, I would DEFINITELY consider a blessing to be part of it! Just sayin'
DaRev, there are many places for rent to choose from and the cost can be reasonable. Keep it simple, sidestep the headaches inherent in a business-by-committee, enjoy your time doing what you want to do. Begin now if you can...
Thanks for the invite "original" spanky (and not any of the spankys who are mere imitations and thus not as pure spanky) :rolleyes:
i keep thinking that perhaps it is i who offended spanky with my name even though they do seem to be spelled differently. if Sparky is just too close to spanky for ya then just give me a shout and ill change it.