Escape to the Caribbean? Yes you can! Here's how....
You may even make a little money in the process!
Ever considered buying a vacation property? Retirement property? Investing abroad? Moving anywhere warm in the winter? Lots of people dream about it, but often don’t know how, think they can’t afford it, assume they couldn’t get a loan for international property, or are concerned about maintenance when they are away.
Last week, I had the pleasure of leaving Missouri’s first artic week in January to take a business trip with some colleagues. In addition to building relationships and gathering resources to assist with these questions, we saw properties currently for sale on three Caribbean islands.
Here are some realities about international property:
- Caribbean (and most global properties) come in many price ranges from entry-level to multi-million
- While not all banks will provide loans for international real estate, some will!
- Vacation homes any can be purchased ‘turnkey’ with 10-15% return on your investment. Full package deals include property management and rental of your property when you are away.
- Fixer-uppers in all price ranges can be bought and updated as a second home, rental or resale.
- A well connected real estate agent (me for example) can help you find all the resources you may need to locate, purchase, rent, rehab, and/or sell a property!
Following are just a few examples of (currently for sale) properties visited on our tours:
- Turnkey, new construction, ocean front property in Mexico. Built to ‘typical American standards’, spacious 2bed / 2 bath and 3 bed / 3 bath condos or villas with enormous kitchens and oceanfront terraces in every room. Starting in the 300k range and if rented, returning 10-15%.
- Beautiful Jamaican million dollar oceanfront property (which is scarce) with traditional Caribbean home in disrepair, can be purchased and redeveloped. Previously owned by a well known movie star, this property has been vacant but with renovation would be highly valuable, or (a pity) could be leveled and built upon due to its prestigious location.
- 2 villas and 3 lots in the Puerto Plata, DR area all for sale at $158k, needing
about 40k update and clean up work, to then be sold for $150k per villa, and a remaining 3 lots to build new construction. (Did I mention a cruise port is planned in Puerto Plata that will
increase travel to the already popular destination?
- A large condo in the Cayman Islands very close to 7 mile beach starting at $300k. (If you know anything about Georgetown, you know what an expensive area this is to buy!) As well, multiple condos are for sale in this building, open to group purchase for investment.
Want to know more about how you could invest, or just buy a second or retirement home in the Caribbean? Consider me your international property connection. Contact me for details!
Individual property showcases coming soon!!