Caribbean Islands Forums

Post New Topic

Recent Activity

View all Caribbean Islands activity »
  1. 1 Trip Report CANON PRINTER 1888:482:3831 installation CONTACT CANON Tec*h care 24/7
  2. 2 New Years Parties, Caribbean 2017/2018?
  3. 3 1st time to Barbados
  4. 4 st.thomas vs st. croix
  5. 5 Americans warned not to visit Cuba
  6. 6 Punta Cana for Christmas and New Years
  7. 7 Advise for first timers to St.Lucia
  8. 8 St Lucia Trip Ideas
  9. 9 Restaurants & Activities In Grand Cayman
  10. 10 GTC
  11. 11 Trip Report Booking hotels in Cuba
  12. 12 Trip Report Anguilla is like a DREAM!
  13. 13 Which Out Island for laid-back, uncrowded and quiet vacation?
  14. 14 Havana hotel questions, and assorted others
  15. 15 Trip Report Cayman Islands travel report
  16. 16 Trip Report Cuban Cigar & Scavenger Hunt - Travel Report
  17. 17 Curacao times 2
  18. 18 Beach w Nightlife in Barbados
  19. 19 private Havana Cuba tours from cruise ship
  20. 20 Hurricane effect on Anguilla
  21. 21 Trip Report Bermuda Travel Report
  22. 22 Cuba Help
  23. 23 Cuba via cruise
  24. 24 Aruba villa help desperate!
  25. 25 BVI: Comparable Islands?
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