Got my own island!
11-26-2010, 11:26 PM
#45
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Location: Nebraska
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I have a clause that after the first 10 year lease that it goes year to year with right of first refusal, yearly lease payment is then tied to another cabin on the main shore so they are protected for inflation and I'm paying fair market value, plus a clause that the lease agreement in full is transferable in the event the property is sold, so I have it as long as I want it. Damn, run-on sentence much?
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11-27-2010, 07:32 AM
#46
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$1600, thats cheaper than the MONTHLY rent on a crappy small house in a crappy location in Ireland.
That is a serious bargin.
I think all should stop calling it a private island. Its his own country!!
I think you should give communism a try.
That is a serious bargin.
I think all should stop calling it a private island. Its his own country!!
I think you should give communism a try.
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12-06-2010, 12:37 PM
#50
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Picture time!
I've been running back and forth to the island in a little 12' vee the past few weeks, but that's done now. Had open water until Sunday. Broke just under 1" of ice yesterday so the boat is done for the season. Now I have to wait until it freezes solid and can walk there.
A couple of quick pics from the past week.
Exterior shots. Don't mind the junk outside. I'm waiting for the lake to freeze to sled everything back to the main shore.
A lot of elbow grease and all of the dark wood will clean up nicely. It's structurally sound but filthy from being vacant for about 15 years.
There were never any windows, only screens. New windows are on order, custom fit. Should be in by Christmas.
It was 20* today, had to start a fire.
View from the front. Yes, we have a lighthouse on our little lake. It was built in the 1930's as the ticket booth for the public beach. It's 107 feet tall and on the national register of historic places.
I've been running back and forth to the island in a little 12' vee the past few weeks, but that's done now. Had open water until Sunday. Broke just under 1" of ice yesterday so the boat is done for the season. Now I have to wait until it freezes solid and can walk there.
A couple of quick pics from the past week.
Exterior shots. Don't mind the junk outside. I'm waiting for the lake to freeze to sled everything back to the main shore.
A lot of elbow grease and all of the dark wood will clean up nicely. It's structurally sound but filthy from being vacant for about 15 years.
There were never any windows, only screens. New windows are on order, custom fit. Should be in by Christmas.
It was 20* today, had to start a fire.
View from the front. Yes, we have a lighthouse on our little lake. It was built in the 1930's as the ticket booth for the public beach. It's 107 feet tall and on the national register of historic places.
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12-06-2010, 01:38 PM
#56
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Bingo. Basically, I get the thing for $1600 a year which is stupid cheap. The first three years' worth of payments go into materials for renovation. I do the labor in return for the low $1600 annual payment for the next seven years of the 10 year lease, kind of like "paying me back" for the labor. Plus, it's fun and there wouldn't be any hope of buying a deal like this anywhere in the state. Even if I owned something like this, the $1600 wouldn't cover the property taxes, not to mention insurance, etc. so it's almost like I get to use it for free.
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