It has been my dream to own an orchard retreat which I can retire to later. After searching for 10 years, I finally bought my land at Kampung Tras. It is an OK size land with a crystal clear stream running through & a forest reserved at the back of the hill. It is a durian orchard with many old trees. So, it fits my dream well.
All this while I have wanted to build it myself without opening to others. So, my idea is to build small & slow. One day, during a dinner discussion with friends, someone suggested why not do a time sharing thing for my orchard. Then others with similar interest could invest also. I didn't take it quite seriously then, cause with external money, comes the extra opinions. i want it to be completely mine.
Came back from a ChiangMai family getaway 2 weeks ago. My wife & sister came up with the similar ideas too, but not time sharing. It is something different. They suggested that each family member can invest and build a small cabin on the land, and call it theirs. I can then operate the cabins & generate income to run the retreat. We stayed in a boutique resort on the outskirt, which is similar to what I want in the future, but not as developed as a resort.
Their idea got me into thinking. So, I am discussing this here, hopefully I can get more valuable inputs from you:
My Idea:
1) let someone with similar interest to invest. I will come up with few cabin designs that I want to build, you can choose which you want, you may also make your suggestion. i am thinking investment should be RM60k-200k onwards.
2) with your investment, you get to stay for free of 24 days a year in your cabin. Of course, you may choose to stay at other cabins, but will have to pay at a discounted price?
3) you agree to let me rent your cabin out for profit, I will then share the profit with you. Currently I am thinking of paying 20% of rental. My target rental should start from RM150/night.
4) guarantee buy back at original price after 5 years.
5) no maintenance fee (should I be charging?) no other fees(no land rental)
What do you think? What else should I be worried about? Any feedback is welcome.
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Retreat/Time share Ideas, - ways to raise fund to build my retreat