2019 Bimini Trip ( Unofficial Thread Until Admin Puts Official One Up)

[Betik]

When are yall headed down? To Orlando. renting boat or pulling yours?

the week after you are done. My parents and kids are booked June 23 to July 14th, buy my wife and I cannot be out that long and I have the chicago loop bring for the 4th of July week.
In a perfect world, my old house will be rented, I leave with claire on June 14th to meet you at the keys, then next week meet Bruce , then the following week meet Berrie in Portage indiana and then when I come to pick the kids, I spend some day with valerie...... and then it is when I wake up LOL


We plan will be for us to bring our boat, we are not big into renting and my boat has been in storage since July of 2018, so it needs to see some action

 

[Wisefam22]

Enjoy. If it was going to be april sometime I might have been able to convince wife to trailer boat down for part of week her brother lives in Sarasota.

 

[ididntdoit]

@Valerie Orlando is a south as we will get this summer. we are thinking for a potential thanksgiving run but nothing certain. maybe 2020 if Bimini Sands is still a mess.

@ididntdoit do you have a twin sister in Doylesstown PA?

My wife in the pic - you would NOT want to see a female version of me....As I tell my friends, a lot easier for her to replace me than me to replace her LOL

 

[Betik]

I understand that there have been some issues in terms of renting at Bimini Sands. Worry no more, you can just buy a unit


Once in a lifetime opportunity to own an ocean front condo

in Bimini $135,000​

* Fully furnished one bedroom with mini loft located at Bimini Sands on South Bimini.
* 800s.f. Plus owners storage.
* Private master bedroom
* Mini loft with full size bed.
* Fully furnished
* Excellent rental income
* 2018 rentals paid all HOA fees, utilities, etc.

1. Liquidation Price is $135,000 firm
2. Buyer pays all closing fees estimated at $18,000

 

[Bruce]

@Betik, I recieved the same email. Wonder where they got their mailing list.

 

[Betik]

@Betik, I recieved the same email. Wonder where they got their mailing list.

They only have my email from the 2017 crossing. I am sure they figured, if these guys crazy enough to push through, they must be crazy enough to buy a unit.

 

[Speedling]

I got the email twice actually!
I mean, the price sounds cool and all, but like... that's really sad if they are trying to dump the units fast like that!

 

[robert843]

@Betik, I recieved the same email. Wonder where they got their mailing list.

Same here got it twice it sounds like someone either sold the Bimini sands email list or it was hacked. I would probably not touch any links in that email.

 

[Valerie]

I got one too

Correction
I got two

 

[Bruce]

I received three copies. It is a legit ad for condo 2E which has been offered at similar terms recently.

I believe this new listing includes around 60 condos for $27M. Bimini , Bimini Property Listing

This is the unpriced listing from Feb, 2017 Bimini Sands Resort - Bimini Real Estate for Sale

 

[JeffVans]

I received three copies. It is a legit ad for condo 2E which has been offered at similar terms recently.

I believe this new listing includes around 60 condos for $27M. Bimini , Bimini Property Listing

This is the unpriced listing from Feb, 2017 Bimini Sands Resort - Bimini Real Estate for Sale

Don’t worry it’s only $26,971,455.21 USD!!! Hahaha

 

[Wisefam22]

But 60x200k is only 12mil. You getting the pool marina and all the headaches as sell for 26mil?

 

[Speedling]

Don’t worry it’s only $26,971,455.21 USD!!! Hahaha

For that price i want the whole run down place! Marina and all!
I bet i could run it decent.
If some big investor doesn't grab this it will be busted up from the next few hurricanes and will be trashed.

 

[Bruce]

But 60x200k is only 12mil. You getting the pool marina and all the headaches as sell for 26mil?

There is a lawsuit over lack of payment for the pool and some of the slips are believed to be privately owned so you definitely get plenty of headaches.

 

[Jack Long]

Unfortunately, the writing is on the wall for Bimini Sands

 

[Wisefam22]

Let me put some feelers out. Know a couple guys in real estate game in atlanta

 

[Bruce]

Unfortunately, the writing is on the wall for Bimini Sands

There are good people among the HOAs. I believe that this will eventually be resolved but doing so in time for 2019 trips seems unlikely.

 

[Wisefam22]

Friend is building 160mil sports complex maybe I can get him to buy the sands.

 

[Julian]

Quickly ran some numbers....max'd out and at 70% occupancy....not sure the size of the condos, but if you can buy it for $20M, you might make your money back in 5-10 years depending on operating costs and hurricanes (doesn't include gas sales revenue which is likely decent, and if the condos have to pay a common services fee). Also, 2 restaurants sub let might make a little money, same with the store.

 

[Wisefam22]

Shared @Julian sheet with friend he said he will review when done driving as well as the listing. Also sent to another friend who manages a 400mil hedge fund specializes in real estate