Nantucket has always been an amazing place to invest, but now, with interest rates low and the market down 25%+, I venture to use the superlative, Nantucket is the best place to invest. Many people use to buy Nantucket real estate as a lifestyle investment first, monetary investment second. This is still true, but given the current fundamentals, some buyers are buying monetary investment first and lifestyle investment second (although, in my opinion, the lifestyle will always outweigh the investment-carpe diem). So, some buyers want to invest with a partner.
The scenarios: 1) Two people invest, everything goes according to plan, we all sunbath at Cisco, drink at the Brewery and have someone take our money to the bank. 2) Everything does not go as planned, what to do? 50/50 relationship and one investor wants to do ‘x’ and the other ‘y’. Our Founding Fathers were so amazing that they came up with a brilliant check and balance system. Two partners do not have the luxury of using this system. However, people are still amazing. Introduce the “Shotgun Clause”, which says one partner can offer the other partner an amount to buy her out. She can say yes and take it, but if she says no, then she has to match the offer and buy the other partner out. Don’t make the offer too high, don’t make it too low-brilliant. The ingenuity of people is amazing and the investment of Nantucket real estate is the best!