Thursday, February 1, 2007

Owning a house becoming more and more unrealistic to a lot of the population due to land costs that are continually rising, however it seems in some areas of the country, the land prices haven’t budged much at all. A great example can be seen in the lovely Co. Roscommon, possibly due to the fact that, there isn’t really anything there

A certain Mr. John Beckett of adrenalin web productions saw this opportunity in 2003 and quickly snapped up a few fields in the county for his new big plan. He bought the cheapest fields he could get his hands on, the rougher and more rugged, the better. Then got them sub divided into legally separate plots, and got to work on his plan.

Ireland has had a history filled with emigration and as a result we have a widespread “nation” of Irish people abroad with fond memories or at least feelings of “Irishness”, imagine if they were presented the opportunity to personally own a piece of their homeland…wouldn’t that be great?

The site offered people just this chance, for the small fee of 49.99 dollars (the good aul “target the dumb Americans” tactic) one could own a piece of land in their home land, receive the deeds of ownership and a even a flashy certificate which they could proudly frame on their wall!

But of course, surely there is only so much money that can be made out of a few acres?

To give you an idea of the size, an acre is essentially the same land area as two basketball courts side by side.
Today you could purchase a field of 6 acres at "Stone courts, The Square, Roscommon", for the paltry sum of €300,000, divide that into 258,300 plots of 1sq foot, and then sell them online for the $49.99 charged and with a little simple arithmetic, that’s comes out at……
(Drum roll)

$12,915,000 which converted back to euro is €9,936,142. A multiple of 33 times the initial cost!
Of course Mr Beckett is not stupid enough to think that the fields will sell out instantly, but with the website in place and all the payment processes automated, all he needs to do is employ 1 person to print out all the certificates etc and the business essentially runs itself runs itself. Over time accumulating into a nice pension fund.
If you can get a business together with minimal effort that will run itself like this….please tell me and we can be friends. Self running is where its at.

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