Hatchet Bay April 8 put an offer on a lot 2

atlantic side of the rainbow point area



chart at rainbow beach



where the lot is on the chart







ocean view from the lot

TUESDAY, APRIL 8, 2008 Hatchet Bay by JackL
Okey dokey. Sparkle, or “Stubby” as she is now known, and I are here up in Hatchet Bay, as the title of this entry would indicate. It’s also April 8, as you know.
I guess I’m stalling, because I don’t have a lot to report. Our days are lazy, long, and filled with reading, talking, XM radio, and fishing with little luck. We’re still eating well, entertained, and drinking in the surroundings here. We’ve made a second crab trap, but our trapping skills are on a par with our fishing skills, unfortunately. We put an offer on the lot in Rainbow Bay yesterday, so we’re hoping to get online later and hear if it’s been accepted. Oh, and one other cool thing: it’s on Buccaneer Road, right near Man-O-War Road, Spyglass Lane, and other Pirate themed names. There’s even a Hideout Drive.
It’s pretty amazing, really, for the price. You can get them as cheap as $10,000, and towards the water, of course, they go up into the hundreds, up to like half a million on the beach. But it seems like a pretty simple equation to me though, that some serious money could be made here doing this stuff. Of course, that’s not what we’re doing, but maybe later in life it might be a good way to make some money.
Consider that: a beachfront property of maybe 800 square feet will sell for several hundred thousand, maybe half a million or something, and rent for $1500 a week, and that the houses where we are trying to buy a lot are in the hundreds of thousands, while the lots themselves are $25,000, with a 60 foot elevation 100 feet from the water, with no one in between, all utilities in place, etc. Even if building prices were 50% more than in the States, which they’re not, and you paid $175 a foot, that’d be $140k for the building, plus a few dollars for the lot, and the rest is profit. And there’s no capital gains or income tax in the Bahamas. Anyway, it seems like a good way to make money, that I might like to consider someday. Maybe someone up there might like to do likewise, or invest here. It seems like a slam dunk, around here.
Another good example would be on Cupid’s Cay, where a lot we just saw, on a bluff, waterfront, on a maybe ten acre peninsula (look up the map online), a lot for sale is $50k. And the finished houses are worth $500,000, and rents for $1500 a week. That leaves a lot of room for profit beyond your building expenses. We decided against offering on that one, and one in Governor’s Harbor with a similar attached equation, and the beachfront property in Rock Sound that was 50x250 ft. for $40,000, and are now all about the one in Rainbow Sound. It’s a few blocks from the beach, but it’s on a hill, offers a spectacular view of the island and the Carribean side of the ocean, is across the road from the ocean, where there’s about a 20 foot cliff to the water. It also has a sheltered anchorage there for the boat, a boat launch, tennis courts included, and is within 10 miles of the international airport. The Atlantic also barely visible from the property, and is about a quarter mile away by foot, with coral reefs, and deeper, but rougher (usually) water. Anyway, we’re pretty excited about it, and we’ll probably sell the New Orleans house and then use the dough to build something here in a few years when we don’t have anything to do. We’ll see. Anyway, that’s the plan as of today. We’re going to try to hitchhike back there, and get a video of it and get it up on Youtube so you guys can check it out. We’re totally stoked about it.
We saw a sweet sunset as we came in last night. We took over 200 pictures just of the sky yesterday, and some panorama movies, and whatnot. But this sunset, it was so amazing, there was actually a rainbow on the opposite side of the sky amid the pink clouds past silhouettes of palm trees. We were just waiting for leprechauns and angels and Underdog to enter the scene to make it slightly more magical. They never showed, so we toasted ‘em anyway.
Anyway, that’s all the news. Not much else cookin’ at the moment. We just want to get a foot in the door down here so we can come back to it one day, and then get home and see you all. We miss you a lot, and it should be getting warm enough for our spoiled selves pretty soon…
I’ll stop running on, cuz I’m not really sure if anyone is even reading this, and if so, if you really want to hear all this crap, but it’s what’s on our minds, and this is as much a diary as anything else, so it’s all good if you don’t feel like reading every word. We love you all, and wish we could share this with you, since it’s too good to keep to ourselves, but we’re working toward that end, so one day, we can make it happen.

XOX
Jack