TYLER WOODS
MISSION VIEJO, CA (USA)
Role(s):
Other
PURI PADANG PADANG
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Startup
Location:
SOUTH BALI, ULUWATU
Industry:
Real Estate
Year Founded:
2013
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Partnership
Description:
Located just five minutes above the famous beach of Padang Padang on the island of Bali I have an Indonesian partner who has a large amount of land which is going for 25 thousand usd 10m by 10m. The land was inherited from his father I have seen all the documents he is the sole owner and does not want to sell the land. His house is located at the bottom of the project. I am following in the footsteps of a friend who got into the rental property business in Bali back in 1998 and now runs a resort above the most famous tourist destinations in south Bali where the cliffs are and the famous temple. He found a partner from Indonesia and they have had great success with no issues. My partner is his best friend and right hand man. He is basically a guide to tourist but now with this land we came up with an idea to build four villas on the slope with ocean views in a very quite setting and built for families or honeymooners not surfers. The reason I cannot afford the cost is because the land needs to be excavated and it is solid rock which is very expensive. So far we cleared the whole hill side hired a contractor shopped the design and found out due to the location the price is firm getting materials to the building site is the most difficult. The contractor want 30% down and says it can be complete in 10 to 12 months keys in hand with hot water a/c etc..... Most visitors to Bali come from all over the world and rent long term so the worries about month to month is not a problem they usually rent three to six months at a time. I would like to get these two built and once that is done I will build the other two. Each are two bed two bath pool infiniti with ocean views maid service, cooks, laundry, site seeing. This design will blow people away I have seen nothing like it in Bali. The contractor takes care of the building permit and all stipulations are done through a lawyer and notary this is not like Mexico it is a 30 year lease with the option to extend another 30yrs. The land value far exceeds the building so this is a great opportunity I will loose this if I cant find a way to fund the building. I have photos of the land before we cleared it and the design and layout. If you would like to see I can email you the contractor bid plus the photos. I am going to Bali July 29th for the 4th time to try to get this going.
Thanks, Tyler