Quote:
Originally Posted by Nitzer Ebb
How is imaginary Caribbean vacation going, baller?  |
It is going really nice...the real estate pricing is for gringos LOL but I have found studios starting at just 5K$ but you have to live among the natives...theres "white people" condos starting at 15k and houses on the coast starting at 30k but you have to have a car...a really nice oceanfront condo is like 65K but its 1 min from the beach and is in a gated community...you have to pay a monthly service fee but its in the 100$ range...
I have spoken to several small hotel owners down here who are expats themselves and their ROI on rental is about 8% per year...it is higher for cheaper properties if you can get guests yourself and it is even higher if you offer service for the appartments yourself...
I will probably start with a 3-4 bedroom beachfront house with a plot of land that allows for expansion and then build the rest...I am looking to build a 15 room hotel with a reception, small restaurant and shop...it is the easiest to start with an existing house and expand than to start from an empty plot...a beachfront plot is about 50k but permits and instalation of utilities in the carribean is slooow...
It is still too soon to purchase anything...location is everything and I have so much more islands to visit...