I was recently looking to buy an income-producing property, and stumbled upon a newly-constructed resort. It immediately captured my attention. Imagine living at your own resort, waking up to this view, throwing on some scuba gear from your own dive shop, and diving your own marine sanctuary.
The left side of my brain couldn’t shake the imagery. We could offer water sports. We could offer island tours. We could live a relatively luxurious lifestyle.
Sadly, the right side of my brain put up a fight.
The area is away from the main tourist areas. That might be a positive to tourists who want to explore a less-crowded paradise. But, that introduces a lot of risk into such a major investment. I know of no other resorts in the area.
Plus, the resort was not yet operational. What rates could we charge? How much income could the property potentially generate? We had no realistic numbers to work with.
I was confident that I could manage it and market it. I could identify our staffing needs. But, the unknown market ended up being too great a question market.
I still imagine it, though.