This Micronesian Island Resort Could Be Yours—for $49

Ever dreamed of owning an island resort? Well, this may be your best chance. Aussie natives Doug and Sally Beitz began Kosrae Nautilus Resort 24 years ago on Kosrae—the second largest island in Micronesia—and have announced they are ready to pass on the reins to retire back home. But instead of selling it on the market the old-fashioned way, the owners decided to go a different route and are raffling it off—for $49 a ticket.

The husband-and-wife duo moved from Australia to Micronesia in 1991 to start the business. With stable jobs and three young mouths to feed, Doug and Sally knew investing in the hospitality project was a risk, but felt a strong need for a lifestyle change that they would regret not taking. So the family set up camp and opened their 16-room island resort, which has flourished and remains a profitable company today.

Kosrae Nautilus Resort is located along the Indian Ocean, surrounded by tropical landscaping and steps away from a private beach. The eight-bedroom hotel is fully air-conditioned and powered by solar energy, and it has become known for its scuba diving program—not to mention its long list of list of water activities that range from mangrove kayaking trips to deep-sea fishing. And the popularity of the resort shows no signs of slowing down, with all rooms being booked well into 2017.

So the question is: Why raffle it off? When the Beitz family sat down to figure out the resort’s fate, their oldest son, Adam, came up with the idea that suited their family’s free-spirited personality. “We realized we could give another family, couple, or whoever the chance to live in paradise and own their own business, and it really excited us,” Adam Beitz told Sunrise, an Australian-based news station. “After that, the thought of selling it the traditional way seemed really boring.”

And this raffle idea is as far from boring as it gets, especially since anyone around world is eligible, as long as you’re over the age of 21. Here’s how it works: Enter the official website and select the ticket package you would like—from the Explorer Pack that includes one ticket to the Executive Pack that comes with 10—all of which features photo prints from Australian photographer Matt Shepherd. After inputting your contact information and payment is processed, your tickets are available for download. It’s as simple as that.

On July 26 at 10 a.m., ticket holders can tune in to the hotel’s Facebook page for a live streaming of the prize draw. The winner will be notified immediately, and once the resort is claimed, it’s right to business. Soon after, the newly deemed owners will shadow the Beitz family in running the business, and then the new digs—and paradise that comes with it—is all theirs.

>>Next: How to See the U.S. Virgin Islands in 8 Epic Days