Just Jack Posted May 5, 2016 Share Posted May 5, 2016 How about spending it on a chance to win a resort? http://www.travelandleisure.com/hotels-resorts/beach-hotels/buy-tropical-resort-49-lottery Link to comment Share on other sites More sharing options...
Acantha Posted May 5, 2016 Share Posted May 5, 2016 How about spending it on a chance to win a resort? http://www.travelandleisure.com/hotels-resorts/beach-hotels/buy-tropical-resort-49-lottery Pretty cool idea. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 5, 2016 Share Posted May 5, 2016 That would be absolutely the last thing I'd want at this stage of my life. Most people if they "won" that resort would be putting it up for sale in 6 months. Actually that's what I'd like do. Win it and turn right around and sell it. Link to comment Share on other sites More sharing options...
Acantha Posted May 5, 2016 Share Posted May 5, 2016 That would be absolutely the last thing I'd want at this stage of my life. Most people if they "won" that resort would be putting it up for sale in 6 months. Actually that's what I'd like do. Win it and turn right around and sell it. Why do you say that? Because it's tough work? I'd do it in a minute. Hard work, but a great lifestyle. I've lived on islands for about 10 years total in my life and I would put this in the category of dream job. Link to comment Share on other sites More sharing options...
The Poojer Posted May 5, 2016 Share Posted May 5, 2016 i imagine the cost of keeping it running would not be possible for the average joe that is lucky enough to plunk down $49 and win it. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 5, 2016 Share Posted May 5, 2016 Why do you say that? Because it's tough work? I'd do it in a minute. Hard work, but a great lifestyle. I've lived on islands for about 10 years total in my life and I would put this in the category of dream job. Running a resort is a great lifestyle and a dream job? I take it you've never worked in the hospitality business? Link to comment Share on other sites More sharing options...
Acantha Posted May 5, 2016 Share Posted May 5, 2016 (edited) Running a resort is a great lifestyle and a dream job? I take it you've never worked in the hospitality business? You take it wrong. Though never as owner, I'm not oblivious to the demands of the job. This isn't taking over Sandals; it's 16 rooms and a diving/fishing charter operation. It's also in a remote, far away place with close to all of the visitors showing up for those exact reasons (diving/fishing). No real Cheeseburger in Paradise concerns there. I'll admit, "dream job" was hyperbole, but the island lifestyle, diving, fishing, and ownership of a business is ideal for me. Even if it is a tough industry. Edited May 6, 2016 by Acantha Link to comment Share on other sites More sharing options...
Chef Jim Posted May 6, 2016 Share Posted May 6, 2016 You take it wrong. Though never as owner, I'm not oblivious to the demands of the job. This isn't taking over Sandals; it's 16 rooms and a diving/fishing charter operation. It's also in a remote, far away place with close to all of the visitors showing up for those exact reasons (diving/fishing). No real Cheeseburger in Paradise concerns there. I'll admit, "dream job" was hyperbole, but the island lifestyle, diving, fishing, and ownership of a business is ideal for me. Even if it is a tough industry. Call me when three maids, your cook and the guy who takes care of the dive shop call in sick or quit. Dream jobs turn into nightmares real quick. Link to comment Share on other sites More sharing options...
Acantha Posted May 6, 2016 Share Posted May 6, 2016 Call me when three maids, your cook and the guy who takes care of the dive shop call in sick or quit. Dream jobs turn into nightmares real quick. Yep, that's the job. You're assuming since you don't like it, nobody would. To put it into perspective, while I don't know much about it, just the idea of being in your line of work makes me want to take a long walk off a short pier. After what I've spent the last 18 years of my life doing, that job sounds great. But it's all just talk...I have better uses for my $50 right now. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 6, 2016 Share Posted May 6, 2016 Yep, that's the job. You're assuming since you don't like it, nobody would. To put it into perspective, while I don't know much about it, just the idea of being in your line of work makes me want to take a long walk off a short pier. After what I've spent the last 18 years of my life doing, that job sounds great. But it's all just talk...I have better uses for my $50 right now. Oh I get that it's just talk and fun to fantasize about. I just have seen it time and time again. People getting into the hospitality business because it sounds great/glamorous. Profit margins are miniscule to nonexistent (better have several hundred thousand dollars in reserves) you're on call 24/7/365 the labor is extremely unreliable and dealing with guests whacky demands can drive you crazy. It takes a very unique person to be able to enjoy that kind of work. The fact that it's on a tropical island and offers guest amenities you yourself would love changes none of the challenges and in reality could make it worse because you're never able to enjoy them. Life is usually never greener on the other side. Now running the dive center of a place like that? Completely different story! Link to comment Share on other sites More sharing options...
Punching Bag Posted May 7, 2016 Share Posted May 7, 2016 (edited) The resort is not far from beach (either land includes beach access or has beach but if it was on beach I'd think a boat would be listed in equipment), you can probably set up a dive shop there. They need a minimum of 50K raffle tickets sold ($2,450,000) and you need to figure many of the staff have contracts for which you need pay out before you start getting paid so the $10,000 in bank will just be a drop in the bucket. Wonder what the capital gains tax will be if winner buys just one ticket and sells it close to minimum raffle price? Have eaten Kosrae tangerines when in Hong Kong, very tasty; odd to be eating them when green. Edited May 7, 2016 by Koolaid Link to comment Share on other sites More sharing options...
mead107 Posted May 7, 2016 Share Posted May 7, 2016 1 ticket worth the shot. Turn around and sell it Link to comment Share on other sites More sharing options...
Chef Jim Posted May 8, 2016 Share Posted May 8, 2016 1 ticket worth the shot. Turn around and sell it Yup. Capital gains be damned. Even short term. Link to comment Share on other sites More sharing options...
Bakin Posted May 8, 2016 Share Posted May 8, 2016 That would be absolutely the last thing I'd want at this stage of my life. Most people if they "won" that resort would be putting it up for sale in 6 months. Actually that's what I'd like do. Win it and turn right around and sell it. It's a tough sell. Hence, the lottery. Link to comment Share on other sites More sharing options...
Beef Jerky Posted May 8, 2016 Share Posted May 8, 2016 (edited) It's a tough sell. Hence, the lottery. Read the article... 19 posts. $49×$50,000(minimum)= $2.45 million That is how much they will make by selling the minimum tickets needed to make the lottery happen. If they do not reach that number they will split 50/50 with the winner. So they win no matter what, smart decision. Edited May 8, 2016 by Beef Jerky Link to comment Share on other sites More sharing options...
Chef Jim Posted May 9, 2016 Share Posted May 9, 2016 So could I do this with my house? Link to comment Share on other sites More sharing options...
Just Jack Posted May 9, 2016 Author Share Posted May 9, 2016 So could I do this with my house? Technically yes.... http://homeguides.sfgate.com/selling-home-using-lottery-legal-53945.html Link to comment Share on other sites More sharing options...
Bakin Posted May 9, 2016 Share Posted May 9, 2016 Read the article... 19 posts. $49×$50,000(minimum)= $2.45 million That is how much they will make by selling the minimum tickets needed to make the lottery happen. If they do not reach that number they will split 50/50 with the winner. So they win no matter what, smart decision. That makes them an unlicensed casino. Not that it matters in Micronesia. Again this is done because it's hard to sell. People lotterize their houses when they can't sell them. And it comes with all kinds of stipulations. Link to comment Share on other sites More sharing options...
Just Jack Posted July 30, 2016 Author Share Posted July 30, 2016 There's a winner.... https://gma.yahoo.com/lucky-man-wins-ownership-island-resort-49-raffle-204434063--abc-news-house-and-home.html# Link to comment Share on other sites More sharing options...
Best Player Available Posted July 30, 2016 Share Posted July 30, 2016 It's a tough sell. Hence, the lottery. Exactly. Also, not a new concept. In Northern Ca. And Monterey county it happened a few times during the 80's. Home sales were stagnet because of the insane high interest rates. Slick mass mail outs and a minimum amount of tickets had to be sold to hold the lottery. Thus, guaranteeing the minimum Sales price the " auctioneers" would accept. IIRC Tickets were $150 each. The odds while not great certainly but Beat out a lotto tickets odds. The concept never took off. This went on for a year or two. these were high end property's... Link to comment Share on other sites More sharing options...
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