See more of Patrick's blog posts here.
Just a quick update as I make my way home.
I have just arrived on Koh Samui to check on progress and make a progress payment for a 4 bdrm villa that I'm building here, which is due to be completed in late Nov. It's a 2 storey with pool and separate maids quarters on the top of a hill overlooking Koh som and Koh phangan, with 360 degree views, which are quite spectacular.
Standing on the balcony yesterday evening watching the sunset enhanced by an electrical storm sweeping across the bay was quite something special.
The Villa will serve as a home base for about 6 months of the year and will be fully fitted out and serviced for 'walk in walk out'. I've been told if I want to rent it out when I'm not using it, it would get $500-600 per night ( and possibly more) as it would fit requirements for 'high end'.
I have a meeting today with the builder to go over final fit- out details and AV package and finishing options. Progress appears well on schedule and I'm super impressed with how it's looking, more than surpassing my best expectations, so very happy with it. Total cost for the build and land will be circa $520k Au, with anything comparable in a similar location selling for over $1.0 m.
Until next time...
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YIP’s 2010 Investor of the Year, Patrick went from being broke, unemployed and struggling with a mountain of debt to becoming a multi-million dollar property tycoon in just eight years. Patrick got his start with just $22,000 of his own cash and leveraged the rest of the money from the banks to get him to where he is today. Having gone on to acquire a couple of commercial properties in Port Hedland, and with other projects on tap across NW Australia and abroad, Patrick has retired from his day-job as a pilot and achieved his goal of escaping the rat race.
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