I'm changing the plan again

I’m changing direction one more time. Let me help you understand why.

Over 1 year ago, someone reached out who had seen my posts on X (Let’s call him Jim). Jim asked if I would go to lunch with him. He had seen my project and expressed potential interest in purchasing one of my homes, but with the purpose of doing co-ownership. 

He told me he had a group of investors who were friends and had purchased multiple beach houses in Mexico. His investors would get access to the homes to vacation with their family and would get their share of the revenue if they rented the homes out on Airbnb. 

I thought it was an interesting idea, but I didn’t see it as something that could scale because it required the owners to have a good relationship with each other. 

Fast forward 1 year, and I am in the middle of our infrastructure project while also gearing up to begin sales. 

I am consistently running into the same problem.

I am faced with choices that will make the project better, but in exchange, cost more money. I was already bumping against the upper end of the original sales price I envisioned for these homes. 

This was forcing us to consider building a home that is different from the one I had always envisioned for the property. You see, when I first visited Costa Rica, I quickly began to believe that the country lacked luxury communities. There weren’t enough gated subdivisions that offered homes that matched the kind of quality you would be accustomed to vacationing to in the US.

I purchased my property with the belief that if I built something amazing, then there would be buyers ready to purchase it. I’ve always known that my biggest risk is that although there are people who really appreciate my product, the potential buyer pool might be too small. 

Every time I changed something that made the end product more luxurious, I was taking an already small buyer pool and making it smaller. 

Six weeks ago, this weighed heavily on my mind when another person reached out on X and recommended I look into the management company managing his vacation home. When I saw the website for the management company, I immediately knew that I had found the solution to my problem.

The management company had taken what Jim was doing but had successfully scaled it. They had removed the interface between the owners but still allowed people to purchase a portion of vacation homes in their favorite locations. As I did more research, I realized that this new way of owning homes is gaining momentum.

The concept fits my subdivision perfectly as my location is a fantastic vacation destination, but would be a difficult place to live year-round. It also allows me to build the high-end product that I know is best, but broadens my buyer pool significantly, as the sales price can go from $1,250,000 per home to $150,000 per share(⅛).

As anyone can imagine, this brings in a lot of work on my end, which is why you haven’t seen me post much or email for the last few weeks, as I’ve been working through multiple nuances to ensure that this will work as I intend.

Although there is a ton of work, I am very confident that I will be able to deliver a high-quality vacation product that the buyers will be very happy about. I’m excited to explain the end product in more detail over the following weeks as we finish our infrastructure and begin our first homes.