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Caribbean Rental Property Investment

1,648 Views | 7 Replies | Last: 2 yr ago by flyingaggie12
Stretch2016
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I'm looking for anyone who may have advice on buying a beach house/ condo in the Caribbean.
I am looking at investing and renting out on air bnb year round, I have looked at certain spots in the Caymans, and Dominican but really not sure on where to get started and if there is a profit.
To make a long story short I have rental properties here in Texas but had a college buddy whose parents made a good profit off renting a condo out in the caymans ( this was several years ago) any advice or anyone who is currently doing this?
TIA
Red Pear Realty
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Also interested.
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bkag9824
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AG
Maybe ask your buddy's parents?

Not to bee a smart ass about it, but why not start with getting insight/advice from them?
MookieBlaylock
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AG
I have watched all 18 seasons of Caribbean Life

What questions do you have?
Stretch2016
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They inherited the properties already paid off so they never had to actually go through a process.
bkag9824
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AG
Stretch2016 said:

They inherited the properties already paid off so they never had to actually go through a process.
I would argue the acquisition process isn't what you should be most interested in. Yes, there are details worth researching, but the biggest factors I would have for investing in a place like that would be the realistic opex, capex, and demand/revenue potential. Your buddy's parents should have that info and would be able to provide impartial feedback as compared to a RE agent who's looking to close a deal. At minimum, they should have good insight to what it actually means to own/operate there.

Even though I suggested starting with your friends and that realtors might not provide the most unbiased view, they exist in that market just like stateside. Call and interview a few. Look for differences/inconsistencies in what they say regarding acquisition considerations (purchase price, fees, etc.). Then call a few more.

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AW 1880
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Might want to consider USVI in light of travel restrictions.
flyingaggie12
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Honestly I would take a hard look at Costa Rica. I think it's gonna blow up soon. Seems like many Americans are starting to go now that it's more accesible (Southwest).

Like a poster above said. Grand Caymans has essentially been closed off during COVID. Same for some of the other Caribbean Islands. Essentially you want to pick one with a stable government. My uncle has had a condo in Aruba for 10+ years. It gets busy in the winter and holiday season but besides that is spotty.

Brother lived in Curacao and that's a completely different tourist base (Dutch/European). Tough part there is that only one US airline has regular scheduled flights (American).

You want to make sure that you have an island with regular scheduled flights with multiple airlines and from multiple hubs. Keeping in mind that some only have seasonal schedules. That gives you the best chance of renting it out.

Unless you have personal contacts with maintenance/housekeeping you might want to go with a turnkey property management company that handles booking/maintenance/housekeeping/guest request. Gonna be tough to manage on your own across different time zones, oceans, and most likely during holiday season when you're on vacation.
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