Caribbean Islands Forums

Post New Topic

Recent Activity

View all Caribbean Islands activity »
  1. 1 Trip Report http://healthonlinereviews.com/beaute-lift-cream/
  2. 2 Help with small wedding location
  3. 3 What island for a solo female traveler to the Caribbean
  4. 4 Trip Report abl1415@yopmail.fr
  5. 5 Seeking a boutique/intimate Caribbean honeymoon in March 2018
  6. 6 Ideal wedding island
  7. 7 Best Islands to visit late Dec/early Jan
  8. 8 Which island to visit in late September/early October?
  9. 9 From Bermuda to Barbados
  10. 10 Jamaica- Negril or Ocho Rios?
  11. 11 Caribbean with a 5 year old
  12. 12 St. Croix
  13. 13 How much cash to take to Cuba?
  14. 14 What is the food and water situation in Cuba?
  15. 15 Favorites and Must-dos in St. Lucia
  16. 16 Trying to pick a vacation spot for Sept/ 1st timers
  17. 17 Trip Report Anguilla is like a DREAM!
  18. 18 Best kids friendly resorts to stay in puerto rico
  19. 19 Island Hopping
  20. 20 Trip Report In search of rum and revolution - Mr & Mrs Annhig go to Cuba.
  21. 21 Turks and Caicos or St. Thomas in October?
  22. 22 not sure where to go caymen island or panama city panama
  23. 23 Trip Report St. Thomas is dangerous
  24. 24 Havana restaurants
  25. 25 Cuba - all inclusive suggestion
View next 25 » Back to the top

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.

No Replies |Back to top

Sign in to comment.

Advertisement