We all remember our childhood vacations at the beach. With the rapid increase in coastal property values – especially Fripp Island SC, many families feel priced out of the market. Interval Ownership offers these families a practical means of assuring future generations of children and grandchildren the opportunity to create the memories and traditions we remember so well.
Each Fractional Share purchaser owns an interest in this fully furnished beach home and is entitled to occupy the unit each year for the time interval purchased which is four weeks. One week is assigned in each of Fripp Island, SC four wonderful seasons. The interval periods rotate one week each year.
Through an annual regime fee owners share the maintenance cost to ensure the quality of the property stays the same. This fee covers the property management, upkeep of units, refurbishing, utilities and maintenance. This is a small annual expense when you consider that on your vacation you will enjoy the luxuries of home such as a VCR, nice furnishings, and spacious accommodations as well as the beautiful Fripp Island beaches and waterways.
Some of the great advantages of interval ownership are:
You are afforded the ability to purchase your Fripp Island SC vacation home for just the time you use it each year.
You become the exclusive owner of the intervals you choose. L’Ange de Mer is owned by a limited liability corporation created to form the interval ownership. You may sell, exchange or bequeath your weeks just like any other real estate based on the terms of the Operating Agreement of VIP FRIPP444, LLC.
You become a member of your home's private company where you and the 12 other owners have total control over your property.
Units are refurbished; furnishings and equipment are replaced as required or at the discretion of the company.
A one-time purchase guarantees Fripp Island, S.C. vacations forever at today's prices, with no repair or maintenance problems to take up your vacation time or seasonal openings and closings. Your Fripp Island, S.C. vacation begins the moment you arrive.
Many families now own second homes on Fripp Island,S.C. resort. However, some decide that full ownership of a second home is not practical due to availability of disposable income, problems associated with caring for a second home from long-distance or simply from the short periods that families actually use the second home. For these families "Fripp Island Fractional Ownership" offers the ideal alternative.
Fractional Ownership is a simple, practical concept, which offers the opportunity to own a fully furnished home on Fripp Island, S.C. at a fraction of the cost of purchasing an entire second home.
Financing may be available thru traditional lenders and mortgage brokers in the local market to help you obtain your Fractional Ownership Share. 1031 Tax Deferred Exchanges, Self-Directed IRA Accounts & Home Equity Lines are other financing options. Your IRA can employ the use of debt to finance the purchase of real estate, but there are some rules to follow - we suggest that consult with your tax advisor for guidance. In 1974, the Employment Retirement Income Security Act gave all self-directed retirement plans this option! The Roth IRA in 1997 and especially the Roth 401(K) (which has no salary caps for deferrals) in 2006 made tax-free investments phenomenally popular. Visit www.securitytrustcompany.com for additional information on self-directed retirement plans.
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