Early Days

I posted a similar story on Ron at 11's blog before it went kaput about our early dealings with Red Frog. I think it is insightful as to how the business practices have developed.

In the beginning, I went on the exploratory tour that Red Frog offered very early in the process. We were not in the first phase, but we were close. I heard about the project at a Wright Thurston real estate investing seminar and decided I wanted in.

At that time we were told no investors were allowed in until they had made the trip. I made it clear that, although we could not make the journey for a couple of months, we wanted a beach front villa.

When I finally arrived (Janis could not make that trip... and I'm glad she didn't!) I was told that all the beach front lots had been sold. Of course, I was livid, since I was very specific about what we wanted or I would not have made the trip. Dennis Stears assured me there were going to be plenty of beach front lots. After talking to several of the principals (Chris, Scott, Darrell, etc.) and making my objections clear, they were very accommodating in offering an option on one of the lots which had not been surveyed yet. As a result we ended up with our lot 83. So right off the bat, they got my vote as being very honorable guys. I was promised a beach front lot before I went on the tour, and I left with one!

The reason I was glad Janis hadn't gone was that there was nothing to see! This is very common when one wants to get in on the ground floor. The risk is higher, so the prices were lower. Anyway I spent several days hiking up hills to look at lots and got spattered with mud from the rain soaked dirt tracks that were "graded" for the ATVs.

I remember getting stuck and the tractor shooting up mud into the trailer where some of us sat and thought, "Boy, am I glad the Queen is not here!"

Shortly after that, the first condos were offered and we immediately invested in a penthouse in building 200. And when the boat slips were initially offered, we jumped on one of those too. Eventually Janis did take the trip and enjoyed her time there. The roads were wider, much of the power plant had been built and some of the homes had been started. We plan to go again before the end of the year... as soon as Janis gets her new passport!!!!

We'd love to hear your stories, both funny or sad.

Mick @ Lot 83