taylor2000

Went to jamaica for 8 days and 7 nights and we are hooked. Of course being that i have owned a construction company I see myself going over board wanting to buy, fix and sell real estate. I met a tile guy who i think I can trust{time will tell} who i needs work and I think i can help him with that. My resort offered a deal. 17,500 for 60 weeks of vacationing. Good deal since 7 days costs 1,800 dollars. The resort life is great but it happened to be far away from the cities and you do not really experience the real jaimaica. So any ideas in on how to go forward with my ideas on realestate. Like to be a investor on a smaller resort or just start out by bying a property needing fixed and go from there. I could have 50,000 USD to start with. Love to own property in Jamiaca unstead of the boring USA.

WWK

I won't go into all the reasons why this is a bad idea, but it is. And I say this as someone whose family loves Jamaica and has been going there since 1980.

suze

Do NOT do it!!! You've only been to Jamaica once right? You don't understand how things work there.

If you are serious, continue to vacation there. Get off the resort (someplace where you aren't paying $250+/day) and take a look around and have a reality check.

Go down and live in a normal town for 3 months, then come back and read this post.

I say this kindly, and with great love for that island.

blamona

There's a saying in Caribbean when trying to earn money.

Know how to make a million bucks in carbbean?

Waste 2 million!

Just the work permits and getting supplies on island will drive you crazy.

Glad you think your country is boring, Jamaica is definitely not boring, but not necessarily in a good way! And when you work on an island, you won't see the beach ever. Work twice as hard and get half the pay.

You have a lot to look into!

(and no one will buy your fixer upers, nice properties average years to sell, and maintenance is quite expensive so nothing rots.

RoamsAround

Like blamona I have a home in the Caribbean s we know what we are taking about. So, first off, heed her advice.

Second - Living and working in the Caribbean is FAR DIFFERENT than being their on vacation.

Third - you can't just show up on an island and expect to live/work. You have to apply for residency and then a Work Permit. Residency often requires the investment of substantial sums (differs from island to island but think in terms of $300K to $500) in real estate or a business that provides jobs for locals. Once you get residency you have to apply for a Work Permit and these are often difficult to get. You need a skill and your potential employer must prove there are no locals qualified to fill the position.

Now, let's assume you've done all that - you'll find good/reliable help is hard to find. Everything moves on island time - those "fixer-uppers" will take 2 to 3 times as long to renovate, then trying to find someone who can afford to pay you for the property is difficult. Remember, most locals won't have the financial means to purchase the properties. The Catch-22 of living in the Caribbean is Living Expenses are high and incomes are low. You need a big nest egg or an independent source of income to maintain the same lifestyle you do now.

Everything, and I MEAN EVERYTHING, will cost anywhere from 30% to 100% more than it does "back home". That $50,000 you have saved up will be gone in a flash.

You need to do a lot of "first hand" research when it comes to living/working in the Caribbean.

Best advice, once you've identified "your island" make a 1 to 3 month Pre-Move Visit". DO NOT stay in a resort but rather rent a small apartment or house, live like a local, do everyday chores like grocery shopping, laundry, yard work, etc., etc. - learn what it is like to live on an island - after all you'll be doing tall that if you live/work there. Take ff the rose colored glasses and recognize you WILL NOT be on vacation - you won't be sitting under a palm tree drinking pina coladas. Instead you will be working hard trying to make ends meet while you watch all the tourists enjoying themselves as they come and go for their's week's vacation.

JeanH

Although dated, you should read 'Don't Stop the Carnival'. Written by Herman Wouk.

It's a work of fiction, but, those of us who live full or part time on an island, can relate to all the hassles.

taylor2000

thanks for the replies. Its going to be years before anything is sudden done. Been doing alot of research. Lots of jamaican laws regarding taxes work permits etc. Its so far away it would be hard to maintain and keep a home rented out. Id have to hire a attorney firm to handle all the paperwork, taxes, etc, etc. Its hard enough to keep my rentals going just down the street I could imagine what it would be like living in a different country till I got there. lol just a dream I guess. I myself the person I am enjoy living in the trees and would enjoy the laid back lifestyle. Just thinking I could by a house straight out and not have a payment. Just a dream I guess. Be neat though. I read about the laws in being a property manager. Looks promising. Must go to there school get certified and show the ability of workmanship or the ability too. Figured bieng american or from the US it would be easy to find work. Figured the americans who own property down there would be more comfortable in hiring a fellow patriot. Lots of real estate agents there are from the US and it would be a resource in finding some work. I do good work been doing construction for years. Americans building capabilities or quality of work is so different compared to the jamaicans. We are used to hard work, thats all.

suze

I think you should go there and just rent a normal local-style home or apartment for 3 months and get to know the island better. You've only been there once, right? For a quick resort stay?

I believe some real problems could potentially arise with locals in these assumptions:
--Figured bieng american or from the US it would be easy to find work.
--Figured the americans who own property down there would be more comfortable in hiring a fellow patriot
--Quality of work is so different compared to the jamaicans.
--We are used to hard work

None of those attitudes are going to have locals welcoming you with open arms, I don't think.

taylor2000

very true. but If i can produce work for them too they would much appreciate it. Being a good leader is ideal in ways. Stealing work from the locals is bad I realize that. I uess im just high strung on the subject. I figured I would standing at the door with lots of ideas when the opurtunity arrouse

suze

You need to spend more time in Jamaica. You don't understand.

taylor2000

Let me refraise one statement. If americans owned property down there and of course someone is needing to be hired to keep it rented, maintained, renovated, etc. It is easier to communicate with a fellow patriot than a jamaican Theres just a huge difference in thought process and work ethics. Probably used the wrong words there. Its like some people say they can paint so ou hand them a brush and come to find out they dont know how to really paint. we stayed at a buetiful resort lots of marble tile. And paint all over its really amazing. In the states that just doesnt happen. The huge pillors at the resort. Non bearing just for show most where crooked. Just detail to work is strangely not learned by many. Not looking to get into a racial discussion here just stating my ideas. Ill go toe to toe with anyone with a cut in brush.

suze

I can't explain it other than to say you need to spend more time in Jamaica, and around local people, to understand the culture.

I am also not saying your skills may be superior by American standards, only that your attitude would go over like a lead balloon with locals. You would not be welcomed with open arms, with the way you are thinking presently.

taylor2000

Id also say not only american owned homes but jamaicaned owned homes too. I just see a big difference in work behavior, skill and honest hard work. Not saying jamaicans are bad lazy or any other negative comment. I love the people. I have never felt so welcome as we did as we where alone in lucea and somfestival. Just trying to be good role model here and get some fire under these guys butts

RoamsAround

You are going to have difficulty in the islands (any island) with that attitude. The locals control the economy and they definitely DO NOT like outsiders telling them what or how to do ANYTHING. Outsiders who think they know better than the locals DO NOT thrive. I can't stress this enough - the culture is very different in the islands.

Come live for a while and you will understand. We Ex-pats jokingly refer to it as "The Logic Free Zone".

taylor2000

ok got it. i have the wrong attitude. my idea is probably a stupid one. I just wanna succeed and what better palce to do it than a island like jamaica. Guess i should quit dreaming and keep my money in the states. Alot easier and diffently alot cheaper. Go on vacation and come home i guess.

suze

<my idea is probably a stupid one. I just wanna succeed and what better palce to do it than a island like jamaica.>

Your attitude and idea does not fit or understand the local culture, would be more how I'd say it.

Jamaicans don't need to be "saved" or changed by you.

taylor2000

fair enough. guess dumb american here with dumb ideas.

taylor2000

ok al that bieng said. Any one know of links where I can invest my money in a different resort other than palladium. 14,500 for 60 weeks is there program. nice resort but we just dont like the location. Like to see me invest in another resort hotel of sorts and be part owners or a place to somewhat retire later in life. Never know might be able to invest and have more ownership than just 60 weeks of living. 60 weeks wont last long over a life time

RoamsAround

Are you asking about purchasing a time-share in the Caribbean? That's about ll you'll get for $14,500. Even the $50,000 you mentioned you had available for investment in your first post won't get you very much - perhaps a little better quality time-share or maybe a fractional ownership in a modest condo somewhere.

If you are considering a time-share, you should know that they are considered by many to be a very poor investment. In fact they are noted for losing value over time rather than gaining value. There are literally thousands of unwanted time-share units all over the Caribbean that owners are willing to "give away" if you'd be willing to assume liability for making the annual maintenance payments (just to get themselves "off the hook") so tread very carefully if you are seeking a timeshare.

If you are looking to buy a small but somewhat upscale waterfront or beachfront condo think in terms of $500,000 to $750,000US. On some islands you can spend even more.

Upscale private homes will run you anywhere from $700,000 for non-beach properties to multi-millions for beachfront/waterfront villas.

Again, you have to do your research.

suze

I don't consider resort timeshares an "investment" and it sounds like that's what you are talking about.

Why not plan a couple more vacations to Jamaica? Stay in other parts of the island? Get a feel for what things are really like there?

Or if timeshare is really what you are after, why not branch out and visit Mexico to compare what is available?