Dear Overseas Opportunity Letter Reader,

Ever day-dream of awakening to a view from your bedroom window of acres of vines heavy with grapes ready for harvest…

of wandering those fields as the pickers work…of celebrating the harvest…

of tasting your own wine as it ages in mammoth barrels…

of labeling your own bottles…and of serving your own vintage—grown, harvested, aged, and bottled just for you—to suitably impressed dinner guests…

Here’s a way to make those day-dreams come true.

A few weeks ago in San Raphael, friends told me about an idea they’d been working on…an idea that would allow them to realize their own long-held day-dreams of producing their own fruit from their own vines…down in Argentina wine country.

As I write, these friends, Tom and Yvonne Phelan, are pushing ahead with their plan. After nearly a year-and-a-half of research, Tom and Yvonne have purchased 100 acres in San Raphael, where we stood that day, and they have begun planting 20 acres each of Malbec, Syrah, Cabernet Sauvignon, and Chardonnay, the main grapes of the region.

Certainly, that’s more production than any one man (and woman) could need. But Tom’s idea is to share the wealth. He’s inviting like-minded wine-enthusiasts to get in on the fun with him.

I’m writing to extend that invitation to you.

Tom has just begun planting, as I said, so it’s early days. His long-term plan includes not only 80 acres of grapes, but also annual wine production (starting three years from now, after the vines have matured), private labeling, a clubhouse, and even annual harvest parties.

And he’s inviting you, if you share his interests, to participate in the future wine production. As a member in the vineyard, you’d enjoy not only the wine it produces, but also the property itself.

Tom and Yvonne are calling it the La Buena Vida Wine Estates. It’s not intended as an investment, but I’ve worked the numbers…and, frankly, I wouldn’t turn up my nose at the returns.

I think of it like buying wine futures. Become a member of La Buena Vida, and you’re guaranteeing yourself Argentina wine futures for the rest of your life. (In fact, membership is for 23 years, and you can leave it to your heirs…or even sell it on.)

Let’s do the math.

In years three and four, as a member of La Buena Vida, you’ll begin receiving wine. The vineyard will go into full production in year five (by which time the vines will have matured fully). From that time through the lifetime of your membership, you’ll receive 20 cases (240) bottles of wine every year. You’ll get five cases each of Tom’s Malbec, Syrah, Cabernet Sauvignon, and Chardonnay production.

Using even low-end U.S. prices for Argentine wine, each of those 240 bottles would be worth at least $8, meaning the annual value of your wine would be $2,000.

But Tom isn’t planning (or planting) for low-end. He’s working with an award winning agronomist, a local Gold Medal-winning winery, and a Gold Medal-winning enologist (winemaker) with the objective of producing award-winning vintages that should have a retail value well over $8 a bottle.

The best wines from Argentina today fetch as much as $70 a bottle in U.S. shops, so, clearly, there’s big upside potential here.

Then there’s inflation…

The value of your wine could, in fact, prove to be twice what I’ve suggested, or $4,000 a year…or more.

But the future wine production…and the associated return…is only the beginning of the benefits in La Buena Vida Wine Estates. The rest of the story is all about the fun, adventure, and romance of owning your own vineyard way down south Argentina way.

Frankly, for me, that’s the appeal. Twenty cases of wine may seem like a lot, but I think I could put it to good use. You could give it away as gifts…use it to impress clients (and friends) at dinner…and, now and then, when you’re feeling indulgent and no one is looking, sit back in your favorite chair, with a good book, and pour yourself a glass of your own privately labeled red…

This is no typical wine store wine club. As a member of La Vida Buena, you aren’t paying an inflated retail price for a couple of bottles of wine each month. You become a part of a group of fellow wine-lovers focused not on simply receiving some random wine by mail…but on growing, bottling, labeling, and enjoying their own grapes.

As a member of this group, you’re invited to come to visit the vineyard each year if you can. Spend a week, with your family, at the clubhouse Tom is building on “your” vineyard.

Come on down to San Rafael…take a look at your vines…check on your aging vintages…enjoy a nice steak…along with a bottle of your own Malbec…

Like Tom and Yvonne, I’ve day-dreamed often about growing my own grapes and bottling my own wine. But who would go to the trouble and the expense of actually following through on the idea?

Well…Tom and Yvonne are…and, frankly, I appreciate the invitation from them to come along for the twenty cases (240 bottles) of my own privately labeled wine for 20 years.

All the fun…and none of the work!

A couple of years ago, Lief and I spent a weekend in St. Emilion with friends, where we noticed a sign in the window of one of the wine shops declaring that the “2005 Wine Futures” were available inside.

It was my introduction to buying wine ahead. I invested in several cases of 2005 future vintages. The first cases were delivered last summer, and, I have to admit, I still get excited every time I see the delivery man outside pulling a trolley of wine crates.

In truth, I bought the futures because it seemed like a cool thing to do…a good story to tell at cocktail parties. But I’m pleased to be able to report that every bottle is worth much more today than I paid…in some cases, twice as much.

Which brings us back to the math.

Remember that we figured, using our most conservative estimate of a value of $8 a bottle for your wine, that your membership in La Vida Buena would be worth $2,000 a year.

That means your membership, according to our most conservative estimate, would be worth $40,000.

However, the current membership fee is nothing like that. Right now, during this early phase, membership in La Vida Buena is $5,450.

(Plus an annual maintenance fee, beginning in year three, of $249, to help cover the costs of running the clubhouse, shipping the wine, and general administration.)

Again, this isn’t an investment. You wouldn’t become a member of La Vida Buena Wine Estates to get rich. But, as a member, you sure wouldn’t turn your nose up at an annual 18% yield on your cost of membership. 18% a year…for 23 years...

Plus, in addition, remember, you’ve got the one week stay each year at the vineyard clubhouse in San Rafael .

I’m sold. I can’t wait to take the kids down to Argentina wine country to show them “our” vines…”our” grapes…”our” vineyard…

Frankly, to my way of looking at it, this isn’t the next best thing to owning your own vineyard in Mendoza . It’s better. You don’t ever have to worry about planting or harvesting or storing…or anything.

All you have to do is to show up once a year to savor the experience.

Then sit back at home and await the delivery of your annual 20 cases of Argentina ’s finest. I’m setting aside room in my cave in Paris…right alongside the futures I bought in St. Emilion.

Tom and Yvonne Phelan can answer your questions. Reach them at tomphelany@yahoo.com and yvphelan@yahoo.com

Salud, from a fellow wine-lover,

Kathleen Peddicord

P.S. For obvious reasons, Tom and Yvonne can accommodate only so many; therefore, membership in La Vida Buena Wine Estates is limited to 100. If the proposition intrigues you, as it does me (Lief and I intend to become members), I’d urge you to get in touch with the Phelans right away: tomphelany@yahoo.com or yvphelan@yahoo.com We’ll look forward to meeting you at one of the annual harvest parties!