By
Tom Dyson, publisher, The Palm Beach Letter
Monday, November 9, 2009
This weekend, I met a couple from Aspen, Colorado. The husband, Charlie, opened Aspen's first snowboard store back in the 1980s. He called it Sidewinder Sports...
At the time, snowboarding was still a fringe sport. Today, snowboarding is a mainstream sport, and Aspen is one of the wealthiest cities in America.
A few years ago, Charlie and his wife decided to sell their snowboard business and start a new business. They ditched Aspen. It was already fully developed. They wanted something different and cheaper. They found Cafayate...
Cafayate, Argentina is the town master investor Doug Casey and his associates have chosen as the location for their luxury resort. It's a beautiful wine-producing town in the mountains. Some people told me it reminded them of Napa. Others said Tuscany. I say it feels like a gentler version of Telluride, Colorado.
It is an amazing place, set in spectacular scenery with fantastic weather all year 'round. You can't beat it.
Doug has sold 120 lots so far. Buyers have mostly come from America, but I met Canadians, Europeans, and wealthy Argentines. More will come soon. These people want to retire in this wonderful place, or they want a second home for luxury vacations. They also want to move money offshore and use Doug's development as a sort of land bank.
Over the coming months and years, thousands more people will come here as tourists, visitors, and employees.
To capture this influx of wealth, Charlie and his wife have settled in Cafayate and built a new business. It's a gourmet Mexican restaurant aimed at the gringos and other rich tourists. They call it "Colorado." I ate there three times in four days. The food is excellent and so is the service.
As Cafayate booms, this is going to be one of the most popular restaurants in town.
As the owners, Charlie and his wife will have the income to lead a very comfortable life... and their land and business will increase in value gradually over time... just like they experienced in Aspen. Plus, they'll be at the center of a growing community, where the lifestyle is relaxed, the wine is plentiful, and the people are interesting. Most of all, they'll have a fantastic adventure.
Here's my suggestion: Doug's real estate development is sparking a massive and sudden influx of wealth into this small town. If you're interested in starting a new life in a sleepy town that's turning into the next Aspen, copy what Charlie and his wife are doing. Go to Cafayate and open a business.
I suggest you open a brick oven pizza restaurant... or maybe a gourmet bakery. Almost any upscale business would work. Just copy the most popular concept you find at the nearest ski resort.
By piggybacking on Doug's success, and the Aspen couple's business model, you'll earn a comfortable living, you may get wealthy, and you'll definitely have the adventure of a lifetime.
Good investing,
Tom
P.S. Check out the Aspen couple's website and blog. If you ever visit their restaurant, make sure you order the guacamole. Their guacamole is the best I've ever tasted.
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