[2007] Opportunity to be involved in developing a timeshare/fractional in the Bahamas

[boyblue]

There is so much knowledge here that I don't think it would be a mistake to invite anyone intrested, to take part in the development of a timeshare on one of the Bahamian Family Islands.

I won't discuss any details here but for the few of you that do know me on a business level, you know I am on the level.

Once we put a group together I will share more detail but I can say that at this stage there isn't much to it. It's just that we have recognized an opportunity.

 

[boyblue]

Just in case you guys were wondering, this inquiry does not end with you having to give us your bank account number. It's more like "if you had it to do how would you go about it"

 

[DeniseM]

Sooo...you're either soliciting investors

or asking Tuggers to give you their help and advice for free, so you/your friend can set up a for-profit business?

Which is it?

 

[geekette]

Sorry I don't have the cash to invest but I will offer my services as a tester of the final product!

Good luck with your venture, Blue!!

 

[K9HNDLR]

Count me in for a test drive too.....

I would be more than happy to help out in that way.

 

[cancun dish]

i get the impression that he has posted on here for awhile and would like your input as to what you would like to see from a timeshare...

how many developers have really asked you that... somewhat hypocritical of us to blast him for that

 

[thunderbolt]

I agree with cancun, this is a novel approach to an exciting project. Let's hear the man out. We all know what to watch out for and will recognize any pitfalls before investing.
Carry on boyblue.

 

[dioxide45]

I agree with cancun, this is a novel approach to an exciting project. Let's hear the man out. We all know what to watch out for and will recognize any pitfalls before investing.
Carry on boyblue.

The thing is that there are market research companies and probably better quantified approaches than getting some opinions in an online message board.

 

[boyblue]

Sooo...you're either soliciting investors

or asking Tuggers to give you their help and advice for free, so you/your friend can set up a for-profit business?

Which is it?

Are these really the only two possibilities

 

[boyblue]

Sorry I don't have the cash to invest but I will offer my services as a tester of the final product!

Good luck with your venture, Blue!!

Geek, don't sell yourself short. Again, I'm not asking for money here (I think it would be an insult to you guys) I happen to think you have something more valuable than cash to offer.

 

[boyblue]

The thing is that there are market research companies and probably better quantified approaches than getting some opinions in an online message board.

Wouldn't you figure if we used the established methods, we would end up with a product similar to what's already out there? You woudn't knock a guy for taking the road less travelled would you?

BTW Cancun & Thunderbolt thanks for not stringing me up just yet

I apologize for all of these consecutive posts but I wanted to answer all of you guys individually and I didn't want to go through the cutting a pasting this morning.

 

[PerryM]

Dump the timeshare idea...

Blue,

Why in the world make a condo complex a timeshare these days?

It’s so easy to start a Destination Club (DC) – this would be the first resort of many. There are no real huge start up costs nor time. In 2 weeks you could have a DC up and running – the paperwork could be mooched from another DC.

There are NO real estate laws to follow in either country - the DC is so new that there is no need for a herd of real estate lawyers.

Done right I’d buy a membership – make this a Co-op with FULL ownership rights and the memberships would be sold out in ONE day – only need 8 members for each condo.

Timeshares were cooked up by construction companies 45 years ago that couldn’t unload their condos in a glut of condos – those days are history and DCs make much more sense.

 

[JudyS]

Sooo...you're either soliciting investors

or asking Tuggers to give you their help and advice for free, so you/your friend can set up a for-profit business?

Which is it?

It seems to me that lots of people on TUG ask for advice about "profiting" from timeshares. Think of all the people who ask how to sell their timeshares for the maximum money, or who ask how "to trade up" in exchanging. Boyblue has been a member here a long time; I think we should give him the benefit of the doubt.

Boyblue, I'm heading out of town for a week, but this sounds interesting. Can you send me an email or PM about this?

 

[boyblue]

Blue,

Why in the world make a condo complex a timeshare these days?

It’s so easy to start a Destination Club – this would be the first of many. There are no real huge start up costs nor time. In 2 weeks you could have a DC up and running – the paperwork could be mooched from another DC.

Done right I’d buy a membership – make this a Co-op with FULL ownership rights and the memberships would be sold out in ONE day – only need 8 members for each condo.

Timeshares were cooked up by construction companies 45 years ago that couldn’t unload their condos in a glut of condos – those days are history and DCs make much more sense.

Good question Perry. As for your answer, the old adage when life gives you lemons, make lemonade, probably best describes the situation.

The idea is to enlist interested folk and then as a group decide direction. I would probably lean toward a combination of fractional and TS ownership but who knows what the end result will be. We might end up with wholly owned vacation homes.

Judy I've done as you asked.

 

[PerryM]

This could be great!

Blue, you really gotta read the new forum on Non-Traditional Interval Ownership on TUG.

There are folks who will gladly buy over the phone without revealing how the DC really works – they line up in droves to do this. Need just one guy to do the sales and a web site. NO TIMESHARE REAL ESTATE LAWS TO WORRY ABOUT!!!!!

So really consider this idea – it’s the hottest idea in real estate, DC’s are being written up by all kinds of folks who report on real estate – this is the golden era for DCs.

I’m serious – a DC would be more profitable for everyone involved – developer and owners – the money could easily be asked for in advance:

Say each condo costs $1 M. There would be 8 DC owners per condo – FULL ownership. Ask for 20% down and a 3 year build cycle. That means that for $40k I get in on a fantastic deal and control the real estate appreciation on $200k. The developer gets working capital.

I don’t know what the Bahamas’ average in real estate appreciation – say 10% for the each of the 3 years. That $1 M condo will be worth $1.3 M and my $200k membership is now worth $260k or a cool $60k profit on the $40k I risked for 3 years.

Run this idea past your folks – count me in – I’m serious!!!

Who do I make the check out to?

 

[Steamboat Bill]

There is so much knowledge here that I don't think it would be a mistake to invite anyone intrested, to take part in the development of a timeshare on one of the Bahamian Family Islands.

What island is it and is it beachfront?

 

[boyblue]

The Island/property has not been selected, but it would have to be beach front.

 

[akbmusic]

OK, you've intrigued me. I've seen your posts for awhile and from what little you can find out about someone on a BB, you've never sent up any red flags for me!
I'm not afraid of trying new things, and my DH will attest that I have no shortage of ideas/opinions. I'd be interested in hearing more about your ideas. Feel free to PM if you'd like!

 

[pranas]

The thing is that there are market research companies and probably better quantified approaches than getting some opinions in an online message board.

There sure are but TUG is a great place to start on the preliminary qualitative part. This is what Blueboy is dong.

I am fairly new to timesharing, but I would be interested in knowing more about this project

 

[JMS]

It sounds interesting to me. I sent you a pm.

 

[spatenfloot]

International real estate buying can be tricky. The Bahamas requires many permits plus an 8% stamp tax on property over $100,000. You would probably need to involve a local attorney to ensure compliance.

 

[boyblue]

International real estate buying can be tricky. The Bahamas requires many permits plus an 8% stamp tax on property over $100,000. You would probably need to involve a local attorney to ensure compliance.

Absolutely, this would be a very involved process.

I think I've sent a response to everyone that expressed interest. If you did not get the initial note, PM me again.

 

[JMS]

Development is always a complicated process but as long as it is planned well then it can be very successful.

 

[boyblue]

For all of you that inquired, if my responses seem impersonal it's because I did responses that I could send to everyone.

Once we get situated in our cyber meeting place of course there will be more discussion.

Contact me by email so that I can include you on the list.

 

[boyblue]

I will send out the meeting place has been created but I haven't sent out the invites yet because I was too busy to hoast our group.

I will send out the invitations over the weekend.