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Nine separate regional societies will be organized where one hundred and twenty (120) members will have access to twelve properties valued at or near an average of ten million dollars ($10,000,000). Each society will have sole and separate financials and will have a schedule of properties that focus on different geographic regions of Italy. Members will own the regional Societies and Viaggiare Management will retain the inherent right to manage all the societies and maintain the bylaws. The ratio promise will be ten (10) members having access to one (1) property.
Discover more about the vision of the Viaggiare Society of Italia from our founder, Nathaniel Crosby. Click To Read
The initial membership will be a thirty (30) year fully refundable deposit initially set at two million dollars ($2,000,000).
Annual Dues will be initially set at sixty thousand dollars ($60,000). Any future increases will be tied to a consumer price index.
Members who choose not to use any or all their allocation of advanced reservations in any given year will receive a proportionate rebate or capital account credit from the net proceeds of revenues that are received from nonmembers who may book the properties that are available within six (6) months of the day of arrival.
Accepted members will be able to access the network of properties within their region for four (4) weeks of advanced reservations up to one year of the date of arrival.
Unlimited Space Available Access to the Universal Network of Properties will allow for additional weeks and reciprocity will allow members to reserve unlimited number of weeks (with certain restrictions) throughout the universal network. Space Available reservations can be reserved up to nine (9) months before the day of arrival. Space Available Reservations are subject to modest property management fees and have no increase in annual dues due to usage.
Properties will be marketed to the public within six (6) months of the day of arrival for market value. Members may still book reservations during this time, subject to availability. Revenues from the public leases will be used to partially offset Viaggiare Members that opted not to use some of or any of their four (4) weeks of advanced reservations. Revenues from the public, combined with the members obligatory dues, are designed to make each of the nine regional societies self-sufficient by a wide margin.
There will be certain rights and restrictions for unaccompanied guests and unaccompanied family members. These details will be available in the Membership Plan Document.
Members will be recruited through an Invitational basis from organized Invitation committees.
It is our estimate that rental value for a ten-million-dollar ($10,000,000) property in Italy would be thirty to forty thousand dollars ($30,000-$40,000) per week on average. The membership value is such that any member can combine their advanced reservation weeks with their space available weeks to utilize different areas of Italy for an entire summer for the cost of what two weeks of a typical ten-million-dollar (10,000,000) rental property would be.
The Societies will be organized by the first forty members (the founder members) of each society and will purchase the initial four (4) properties. The deposits from the balance of the recruited membership will finance the balance of the property schedule and allowance for a substantial cash reserve, projected to be over fifty million dollars ($50,000,000) at the membership cap for each of the one hundred and twenty (120) membership societies. The properties will be debt free with a book value of one hundred and twenty million dollars ($120,000,000) and are anticipated to double over the thirty (30) year term of the loan.
Members who wish to exit before the thirty-year (30) term must be replaced by an incoming member that is selected from the invitation committee. Each exiting member is obligated to continue to pay annual dues until he is replaced by an incoming member.
Membership categories will include “Founders” and “Members”. Founders will include the first forty (40) members that will be recruited prior to the launch of each society. Founders will not be subjected to price increases or transfer fees and will have a substantial input on the selection of the balance of the members. Members or non-founders may be subjected to possible increases in the refundable deposit and will have a schedule of a twenty five percent (25%) transfer fee should they elect to exit prior to the thirty (30) year schedule.
The design of having small separate societies of one hundred and twenty (120) members allows the marketing effort to be an invitation and not a sale. This allows the effort to control the “timeline” of the membership drive. Having a small, concise membership cap also allows for substantial reserves to be in place to ensure the long-term stability of each regional society. This model is designed to have a perpetual waiting list to enter – not a waiting list to exit.
Previous efforts using the thirty-year Refundable Deposit Model for Residential membership plans have had membership caps in the thousands or no membership cap at all. This resulted in an extensive waiting list to exit in bad times, which ruins any hopes for a successful membership drive and new prospects. The multitude of residential membership efforts that have occurred were all designed with start up financing to purchase a certain number of properties with additional debt between fifty percent (50%) and eighty percent (80%) in addition to the thirty (30) year refundable deposit.
Email [email protected]
Phone 561-747-1712
Address 13000 US Highway 1, Suite 201
Palm Beach Gardens, Florida, 33408
Note: All images are for illustrative purposes only and may or may not be representative of actual property schedules at completion.
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