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Dual citizen thinking about buying a vacation rental in Jamaica

Hello. I am a dual citizen (Jamaican/American) living in the US, and I am thinking about buying a property in Jamaica, primarily as a vacation rental. I originally became interested, because every time I try to go visit, every decent rental home is booked months in advance, and for a princely sum, so I wind up staying at a hotel or with family. I typically only get to spend about 14 days/yr in Jamaica, so I would bd relying on locals to take care of property management and housekeeping (though, depending on the location, my sister's helper could do the housekeeping, and she does a fantastic job at a fair rate).

I am not an American with some rosy dream of owning a beachside villa for $50,000 and sipping daiquiris under an umbrella- I know about the price of real estate, the dreadfully slow pace of permits and improvements, the cost of building materials, the patience required if I ever want to sell the property, and the high interest rates on the island. However, the numbers still look attractive when I run them, especially when I consider that I will have a place to call home when I go down there.

So please, talk me out of this.

And for reference, I am looking at properties in the $750k-1 mil range, near MoBay or Ochie. Perhaps that's not even enough to buy a place that would appeal to visitors? If it needs some improvements, I have carpenters in the family, and I also have family who own buses, so transportation for renters to/from the airport would be easy to arrange.

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