"From Family Legacy to Profitable Ventures: The Journey of Private Island Investments" In this episode, I share my unique journey, which began with my family's private island in the Bahamas. This experience inspired me to assist others in acquiring their own private sanctuaries.
"From Family Legacy to Profitable Ventures: The Journey of Private Island Investments"
In this episode, I share my unique journey, which began with my family's private island in the Bahamas. This experience inspired me to assist others in acquiring their own private sanctuaries.
I emphasize that owning a private island isn't just for billionaires. I explain that many islands are accessible to those already involved in real estate investment, offering both a safe haven and a profitable venture. I highlight the benefits of owning an island, especially in uncertain times, and how it can provide unparalleled family safety and autonomy.
We delved into the financial aspects, discussing how private islands can be a lucrative investment. I cite examples like Richard Branson's Necker Island, which generates significant income through rentals. I also touch on the tax advantages available in places like Puerto Rico, where living on an island can lead to substantial tax savings.
I offers a comprehensive service, guiding clients through the process of purchasing and profiting from private islands. I provide access to a network of professionals, including bankers and accountants, to ensure a smooth transaction and optimal financial benefits.
For those interested in exploring this unique investment opportunity, I'm available for consultations and offers tours to potential island buyers. I encourages people to consider pooling resources with others to make island ownership more attainable.
Overall, this episode sheds light on the fascinating world of private islands, revealing that with the right guidance and resources, this dream can become a reality for many.
Please reach out to me for a free 15-minute consultation to discuss their private island dreams.
Contact information: Email at sales@profitableprivateislands.com.
To learn more about finding your own profitable private island go to: www.profitableprivateisland.com
ASK ANYTHING ABOUT THIS EPISODE
00:00:00 - Introduction to Private Island Ventures
00:00:15 - Family Inheritance and Initial Interest
00:00:37 - Impact of Global Events on Private Island Demand
00:01:10 - Misconceptions About Private Island Ownership
00:01:42 - Real Estate Investment Comparisons
00:02:26 - Challenges in Traditional Real Estate
00:02:58 - Benefits of Private Island Ownership
00:03:20 - Family Safety and Sovereignty
00:03:53 - Living Sustainably on a Private Island
00:04:24 - Alternative Safe Havens and Prepping
00:05:00 - Personal Experience in the Caribbean
00:05:11 - Helping Others Acquire Private Islands
00:05:34 - Audience Interaction and Comments
00:05:45 - Profitability of Private Islands
00:06:14 - Richard Branson's Necker Island Model
00:06:26 - Airbnb Disruption and High-End Rentals
00:06:47 - Renting Out Private Islands
00:07:18 - Finite Nature of Private Islands
00:07:29 - Tax Benefits in Puerto Rico
00:08:00 - Long-Term Capital Gains and Tax Codes
00:08:42 - Tax Advantages for High Earners
00:09:10 - Pro-Business Countries and Tax Professionals
00:09:43 - Financing and Real Estate Networks
00:10:16 - Initial Consultation Process
00:10:46 - Prioritizing Luxury vs. Profit
00:11:18 - Luxury Island Options in the South Pacific
00:11:49 - Tony Robbins' Namale Island Model
00:12:10 - High-Profile Island Owners
00:12:30 - Finding Hidden Gem Islands
00:12:52 - Commercial and Real Estate Assets on Islands
00:13:03 - Family Safety and Affordable Options
00:13:34 - Peace of Mind and Accessibility
00:14:05 - Wealth Building and Group Investments
00:14:58 - Contact Information and Consultation
00:16:09 - Importance of Having Options
00:17:06 - Peace of Mind and Safety
00:17:27 - Contact Methods and Quick Conversations
00:18:34 - Pooling Resources and Financing Options
00:19:05 - Closing Remarks and Future Plans
Justin Benton - Profitable Private Islands - 01.21.25
[00:00:00] Let's have a conversation about this. Like how you help people buy private islands. Yeah, well, it kind of started back when I was just a wee little sprout. And, uh, I was fortunate enough that my family, uh, inherited the, the family, uh, private Island in the Bahamas. And so the, the really thing that kicked it off, which it's, it's always great to have an Island and go and hang out and have those family memories, but the thing that really kicked off.
You know, this venture was, you know, it's going on five years ago, uh, when, uh, you know, the world changed forever, uh, immediately for those of us that have families, uh, you know, the first thing you think of is protection, like, okay, because I'm out here in California, you know, where we typically live most of our lives and, um, when, when the whole world stopped changing, I was like, You know, things were getting nuts.
We'd never been through anything like this before. If you, if you can remember all the fear and we just didn't know where to turn. And I was like, we were packing up our [00:01:00] stuff and we're like, we're heading to the Island and it's like, you know, and, and a lot of people did. Um, and a lot of people moved to places like Puerto Rico, um, because they were not, they didn't feel safe.
And we didn't know what the rules were going to be. And we didn't know. You know what we could and couldn't do and all kinds of things and so as I knew to do that Um, it dawned on me the more that I told my story that I was like People thought that private islands were only for billionaires. And yes, every billionaire has one But you don't have to be a billionaire to own one and there are lots of different private islands different places And really the thing that I'd like to focus on is people that are already in the real estate investment game.
And I know a lot of people like to do the, you know, the commercial properties. I've been in commercial property since at my early 20s. It's a family business. A lot of people like to do the apartment buildings, really. And [00:02:00] yes, there is definitely profit there. And there's, you know, there is, you know, usually you're seeing, you know, 10, 15, 20 percent ROI.
Um, you know, but there's also if you have property managers, you lose another 10 percent and there's things like that where, uh, in dealing with tenants, especially on large apartment buildings, you can lose even more margin. And it's not necessarily a place where you want to live. I know our good friend, Russell Brunson got into the real estate game and he bought a duplex when he was young and he lived in the duplex with the other tenant and they smoked and it just was this nightmare and he swore off.
Well, guess what? Russell's back in the market again, and he's in the same market. And so the thing that I like to talk most about is that number one, it's, it's not for everybody. However, if you are, you know, looking for, um, a way to make a, make a profit, uh, if you're looking for real estate investments and you're looking [00:03:00] to actually be there and the biggest thing for me, uh, was that, um, I was able to keep my family safe.
Because, look, we know with the world and everything that's going on, and obviously, you know, both you and I, uh, Kim, are very optimistic, positive people. Right. But, there, it, there's been some strife in the world, and, you know, whether it's overseas or, or what have you, um, it, to me, it prepared me specifically, and I wanted to share that anybody who really, I mean, has the means, And the desire to keep their family safe, there's nothing safer now.
There's lots of different islands out there. There's lots of different options out there. Um, you know, depending upon what your priority is. For me, it was family safety. And places like the Bahamas, uh, have, basically, it's like your own sovereign country. It's your own, when you own the island out there, you really aren't messed with.
It's your, you know, dojo, if you will, for a Crowdy Kid reference. And you can, you know, you [00:04:00] have your own, um, you know, water and now with solar, you can have all of your own energy that does everything for you. Um, it's, it's just really not that hard, um, to, to live on an island for years if you had to. So again, I know a lot of, you know, there's preppers out there and they're, you know, people might be buying mountains in Tennessee or, or, or, or even Idaho or Montana and, and that's good.
But what if the country's not safe? What if something happened? I mean, we all saw what happened. And so having your own private island where you have your own autonomy and your own sovereignty was my number one. Um, and I've lived in the Caribbean for over half my life. I definitely understand the intricacies.
I first fell in love with the Caribbean, you know, obviously with our private island, but also I did a semester abroad in the Dominican Republic. And there's amazing tax benefits for, uh, Puerto Rico as well. So that's what I got into it. And the more that I started sharing my story, people were like, wait a second, you have your own private [00:05:00] Island and you can just go there and live there.
And I was like, yeah. And so then I just started helping people and talking to people about it. And then I said, you know what? I have all this information. I've lived this life. Why don't people who are serious about understanding how to live this life of luxury, because it is great. Um, but also turn a profit and keep your family safe.
And so that's how I started, uh, started doing this. Oh, that is all. And I'm laughing because I see Tyler Wicks is in the comments. Hi, Tyler. It's great to see you. He put a comment in there for us that there's nothing for sale in Idaho. But anyway, but thanks for joining us, Tyler. And I also see someone else joined us.
But tell me this, Justin, because I know you and I've chatted about this a little bit as well. So obviously, like you said, having your own sovereignty, you know, having your own place to go. But. People that are also looking to make money because obviously the business is called Profitable Private Island.
Do you also teach them how to do that as well? Do you show them or give them ideas on how they could also [00:06:00] turn this into something that's profitable maybe when they're not there? Absolutely. And that's, that's the real key. I mean, look, Richard Branson kind of showed us the model. He bought Necker Island in the British Virgin Islands for 180, 000 in the late 1970s.
And now he charges. 150, 000 a day to rent it. And yes, there's properties on there and, and all of that. So that's really the, I mean, we all saw the disruption of the Airbnb and how it changed the game for hotels. Well, the same thing applies here that you can have a very high end Airbnb, but it's not a bed and breakfast.
It's an air island and you can do that. And so there's different websites and different, uh, you know, forums and groups that you can list your private island on fully, uh, stocked. Many people will have a staff that's on, on hand and we can help with that. Many islands have everything and their people just either want to rent it for a week Whether it's for their family [00:07:00] or if maybe they want to do a movie shoot Uh, and they want to use it for that.
So, um, there's a whole network out there that you can turn a profit That's how you turn a profit and here's the other thing look They're not building any more private islands out there. It's a finite asset. You know, maybe there'll be a volcano that will come in and you know, 20, 000 years, there'll be another private island.
But right now there's about 2000 private islands that are out there on the market. And, uh, knowing which country, knowing what your priorities are. Can make a huge difference. No, I know a lot of people want to do like 1031 exchanges when they sell a property and they've got 45 days to put that asset into another american property Well, there's tax benefits out there in countries Like I said with with puerto rico that if you live in puerto rico for 18 months out of the first 36 months So half of the half of the time you're there for the first three years You are not you no longer have to pay The IRS taxes and this also qualifies for long [00:08:00] term capital gains Which is why all of and now cryptos come huge with uh, the new uh regime that has come in Um, you know, you don't have to pay long term capital gains tax So, if you own an island, uh, if you, if you're, if you're there for 18 months out of 36 months in Puerto Rico, not only do you get the finite asset that they're not making more, you're able to rent it out like Richard Branson does, and you don't have to pay taxes on any of your U.
S. based, um, assets or income. It's a massive game changer. Now look, if you, if, if you're, you know, if you're making a million or 2 million a year and you're paying, you know, a hundred thousand or so in taxes, uh, okay. Or maybe you figured out how to get that number a little bit lower, but if you're making 10 million, 20 million, 40 million, 50 million a year, and you're paying, you know, 10 million in taxes, that's a big chunk of change.
That you no longer, and this is completely, you can look it up. It's act two, uh, 20 [00:09:00] and 22 on the, uh, on the, uh, you know, Puerto Rico tax code and IRS tax code. So there's things like that, that are out there that are available for people. You know, the Bahamas has its own unique, um, you know, separate ways of, of, of handling taxes.
Uh, there's the Cayman islands. There's lots of, uh, countries out there that are very pro business. And if you've got the right, you know tax professional who we hook you up with whether it's in the country or whether it's in the united states Well, I want to connect you with everybody that I know that you make the best informed decision So not only like you said you have this incredible place where you live And you're going to take your family and pass it down generationally like we've done um, but you also get to make a profit and uh, and it's it's a it's real estate and like I said at some point This will get out People will understand that.
Wait a second. I can own a pro I can. And of course you can also finance it. There's financing available as well. Um, you just have to know the banks and [00:10:00] even in the, in the countries they'll even, you know, there's guarantees and there's, you know, I w I was talking with a friend yesterday and I lived in the Dominican Republic and we're talking with presidents of banks and, and they'll do special things for, uh, you know, successful American businesses.
You just got to get in the room as we like to say, yes, you always say, I, I always hear you in my head saying, get in the room, but tell me this, um, just so we can help people out a little bit, because obviously when we're done our conversation, I'll obviously put your link down below, but can you walk us through and look, here's the best point part.
I have no horns. You can drop as many Easter eggs as you want, but just tell me this. What does it look like for you to walk someone through this a little bit? I'm not asking you to give us a ton of details, but I mean, what does it look like? So they reach out to you then where do we go from there? Yeah.
Well, and then it just basically, we've got some questions and answers and you fill out some, you know, just basic, you know, questions as far as really is what's your priority is your priority to say, look, uh, I just want to have a beautiful, uh, uh, [00:11:00] private Island where I can take my family and friends. And, you know, money is good and I don't really care about the profit side.
I just want to have a generational asset. I want to, you know, compete with the Joneses. I want to sit around at the country club. And then when everyone says, where are they going for summer vacation? Some says, you know, Fiji, someone says the Caribbean and you say, I'm going to my island. Right. So that's the first category where someone's like.
Hey, I got the money. I want to spend it. I want to have fun. So that would be the luxury side. And that's when you, you know, we probably look more to the South Pacific down in Fiji areas, just like Tony Robbins did. He also started the model with the Mali. The Mali was an Island that he bought. He put a resort on top of it and he charges, you know, three, four or 5, 000 a night.
That's where I actually went with my wife for our honeymoon. And so there's another model out there for you as well. Um, that can be very, very, very profitable. The Mali is a very, very profitable asset for Tony Robbins. Again, so it just depends on do you want to, you know, you know, Mel [00:12:00] Gibson, Oprah Winfrey, these people, they have these islands down there in the South Pacific and they want to get away and they want to have a beautiful island and they want to have, um, you know, easy access and they want to have all of the amazing, uh, you know, comforts of home of the, you know, the beautiful real estate mansion on there and all the toys and boats and things like that.
So if you're in that luxury bucket, then yes, we're going to shop for. You know, again, there's not many islands out there and they're not all listed. You can go search and Google and do all that kind of stuff. You're not going to find the hidden gems out there that, you know, just like with any real estate and you're in real estate, it's who, you know, it's behind the scenes.
You can look, you can look for MLS. But it's not going to have, MLS isn't going to have any private islands on it. So, again, uh, we just want to get an understanding of what you want. If you want looking to make a profit, then we'll get more focused on, you know, does the island have, uh, real estate on it? Has it, does it have a retreat on it?
Does it have a hotel on it? Does it have commercial assets on it? If not, do we need [00:13:00] to build them? How much will they cost? And all those kinds of things. To turn that profit. And again, if you're just looking for family safety, you can spend a million dollars and there's actually a place called Russell Island and there's a chain of islands out there and the Bahamas that, you know, starts at 800, 000.
And it just wants, you just want peace of mind. You know what I mean? It's, it's a speculative piece of mind, but you know that there's a couple acre island out there in the Bahamas. I live out here in Southern California, and you can hop on a plane, Alaska Airlines does a straight shot into Nassau, the Bahamas.
It's eight hour flight. And you're there and you are out of the craziness. You're out of, you know, you're off the grid, if you will. And you know that you and your family have a safe haven to go. Well, you won't be messed with the world can do whatever it wants to do. And when it calms down and everything.
back to normal, if you wi back on the plane and com this. I love this idea an we had this conversation I [00:14:00] was like, I've got to b because I don't think mos possible, you know, and l
Some wealth to, you know, invest in this, but you could also go in with a group of people or things like that and turn this into something that's making money. Um, that that is something it's a really I look at it too. It's like a wealth building tool. That's how I really look at it as well. So. I love that you are bringing this to the table.
And just like you said, definitely with being in real estate, I know like, look, the pocket listings, you know, it's kind of like, that's what you're doing. You know, what's going on with this. And so I really appreciate the conversation today. And like I said, I will definitely post a link below so that people know where to connect to connect with you if they're interested in chatting more.
And then, um, is there any other place for them to reach out to you directly, Justin? I know I'll post that link like to your website and all of that, but. If anybody wants to reach out to you, should they DM you or what's the best way? Oh, I mean, you can shoot us an email. [00:15:00] Uh, we're at sales at profitable private islands.
com and make sure you mentioned that you saw us live here. And, uh, yeah, I'd love to talk and answer questions. You know, I was just helping someone yesterday. Um, you know, get the, the island of their dreams put together and, uh, it can be a 15 minute conversation and it doesn't have, it just, I'm not going to charge you anything to have a phone call.
Uh, if you obviously, if you want to get serious and you want me to. To dive in and roll up the sleeves and break out the white glove concierge service and know everything that I know, know the networks that I know, the people that I know, the bankers that I know, the accountants that I know. Uh, if you want someone to help facilitate, uh, you getting this dream Island, then absolutely you can hire us.
And we'd be happy to do that for you. Yes, that's amazing and just real quick because i'll put that email down there before down below But it's sales at profitable private islands with an s right that you got it I'll make sure I pop that down there in the comments below so that way people can see that And is there [00:16:00] anything else justin that you want to share with us or anything else before we?
Before we leave for the day. I just I really love this conversation I could talk to you all day about this because it's fascinating to me Yeah, well, I just wanted to thanks thank you for having me on and of course I want to help people like I said for me Uh, five years ago, the world changed. Uh, this world opened up this, this virtual world that we're in.
And obviously we met through Russell Brunson's world and, uh, secrets of success and all that wonderful stuff. And it's an opportunity for us to share what we know with other people that can really help them. Because when the world, um, you know, cause the world's gonna have another big hiccup at some point.
And when it does, um, you know, getting out of fear, getting out of anxiety, knowing, like, to me, when, when, when things happen to us that, that we don't want, um, it's like, the best way to overcome it is to come up with as many options. So you put your, like, your brainstorming hat on. It's like, okay, what are all the options?
And as long as you have [00:17:00] options, you have hope. And so again, this is just giving people another option to put on the table for if, if the, you know, what hits the fan, what can we do? And I know that there's just a lot of unrest, whether it's here in the United States or whether it's around the world. Um, just that, you know, that you have a peace of mind.
And like I said, reach out to me, uh, hit me up with an email. You can hit me up on the DMS and Facebook as well, or wherever. And, uh, we'll have a quick conversation and maybe that 15 minutes. We'll lead you down a path of just knowing that your things are going to be okay. It's another option. Maybe we hop on one of our tours that we do a couple times a year down to the Caribbean or out to the South Pacific.
But, uh, at the end of the day, I, I know that my family is going to be safe. And I know a lot of people are worried about what, what if, what if, what if? Well, now you have this option. What if? Yes. And like I said, I really look at it too as like a wealth building tool. You know what I mean? Like if someone, you know, if those things aren't on [00:18:00] their mind, like look at it as a wealth building tool.
I mean, you definitely have Sean and I thinking about things like when you mentioned this, I'm like, I didn't even know that was like possible. I didn't really like, not that it wasn't possible, but it's nothing I really thought about before. But I'm like, yeah. Okay. I'm like, this is a possibility. I'm like, this can happen.
And so, um, I really love that, again, that you're bringing this conversation to the table, that you're bringing this to people. So I'm really excited for you and love to have you back on again, especially like before maybe you go do a tour or something like that, maybe just to bring you back on and, you know, just keep bringing it to people's awareness that it is possible, you know, it's, it is, I love it.
Anything's possible. Anything's possible. And I love your idea too. You can also pool your resources together. Yes, you can find a couple families and and pool your resources together and you can use financing and there's financing options as well. And it's an appreciating asset. Like I said, there's a, there's a finite number of private islands.
They're not building any more of them. And, uh, you can go together with a couple of families and [00:19:00] for 800, 000, you can own your own private island. That's incredible. I mean, that is. That's just incredible. But thank you so much for your time today. Again, I love what you're doing. Maybe it will bring you back to if you want to come back sometime.
We'll talk secrets of success too. We have so many fun things going on, but this, I really wanted to highlight today because I really do think it can help a lot of people. I understand there is an investment with it, but again, like you said, if people pull resources together, I mean. You know, okay, 800, 000.
All right. Well, if you're making a few million dollars and you pull some people together, it's it does become possible then. Um, you know, like you said, I believe that too. I believe anything's possible. So, uh, I'm so excited for this. I can't wait to continue to see like what you do with this and all the people that you're helping.
Like I said, I'll drop everything in the comments below. So you can reach out to Justin if you want to have a conversation with him about it. Justin is