174: Buying Your Own Private Island with Farhad Vladi
Few people can withstand the longing for their own private piece of land in the midst of vast oceans or an idyllic lake, far from the rush and confinement of the rest of the world. Even though it is of manageable size an island feels infinite - the water creates a natural boundary that provides island dwellers with a freedom not found in any piece of real estate on the mainland. Yet it is the mainland that gives islands their special character. The luxury of a private island consists of the freedom to escape into solitude and to return from it at any time - therefore, even the smallest island with a simple log cabin is of immense value to its owner. lt is a great and very moving privilege to observe the passing of the season on one's own island. Even after spending many years on their islands, many island owners have described to me how overwhelmed they felt by the beauty and power of nature - and the composure they have learned from it: on an island, everything takes place at nature's own slow pace. Those who respect this pace are richly awarded as they contribute to the maintenance of their island universe. Islands have cast their spell on me in my childhood, a spell that has not been broken to this day. On March 14, 1971 I sold my first island: Cousine Island in the Seychelles. To this date, the number of islands I have sold has reached 2,000. During these four decades, I had the opportunity to meet island owners with the most varying personalities. Regardless of their profession or social status, they all have one thing in common - they are all extreme individualists with great perseverance when it comes to carrying out their personal endeavours. Today’s island owners do not have to struggle with infrastructure issues anymore. State-of-the-art systems to generate electricity and to purify water, the most comfortable ready-built houses, good technical tools for setting up road systems, as well as electronic communicating facilitate the development of the new isle. Once this whole process is completed, the owner usually has built up strong emotional ties to the land. This remains today's actual major obstacle on the way to purchasing an island - islands are rare, regardless of their location in a lake, a river or the sea. An island that has been carefully and lovingly reclaimed often feels to its owner like part of the family. Parting company with it is accordingly extremely difficult. This phenomenon can be described in other words: an island does not have a house number. An island has a soul. Listen to ILAB 174 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdk Sam Marks – Thailand / IG @imsammarks Derek Spartz - Venice / IG @DerekRadio Sponsor: MasterworksUse code ILAB at signup on Masterworks.io and skip the 20,000 person waiting list to start investing in art immediately Support Invest Like a Boss: Join our Patreon Discussed: Vladi Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) Betterment – Get up to 1 year managed free Wealthfront – Get your first $15,000 managed free PeerStreet – Get a 1% yield bump on your first loan *Johnny and Sam use all of the above services personally. Time Stamps: 07:26 – Can you tell us the story on the first island you bought? 09:39 – Where have you sold most of the islands? 13:00 – Do people approach you to purchase islands? 14:55 – Can you mention some of the celebrities you have as clients? 18:02 – What is the range of cost for these private islands? 19:48 – Are there smaller islands in Spain and Portugal? 20:25 – Are the islands undeveloped, or developed as it pertains to infrastructure? 22:38 – Do people buy islands and develop them for resale? 24:25 – What is the pitch for selling the island? 25:26 – What are some of the most expensive islands you have sold? 27:11 – How can someone learn more about buying an island? 29:12 – How do you acquire the islands for sale? 32:03 – Sam a Johnny recap If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2021. All rights reserved. Read our disclaimer here.