Is now a good time to invest in property in the Caribbean

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Is now a good time to invest in property in the Grand Caymans

Thinking about investing in a condo in the Grand Cayman as an investment rental property. Given the bad weather this past year and the current interest rates I was thinking that now is the time to do this. Anyone have some opinions or insight. It would be much appreciated. Thanks.
 
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Highly unlikely. Pundits were thinking it would derail the housing market in Florida, but there are no signs of it slowing down. As with all markets, low interest rates are making homes very affordable and taking them completely out of range for being reasonable rentals. Besides when you do a rental like the one you mention, you are so far removed from it you will have to pay a lot of the rent received to a local service. Rentals from afar usually end up in a bad situation.
 

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I love the caribbean and can't afford most property. Have heard many stories of people like me who swooped in after a storm and bought property on the cheap. Stayed on 7 mile beach a couple of times and wrote the people who owned my rental and they advised to do it if you can afford it.
 

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randyrohm said:
I love the caribbean and can't afford most property. Have heard many stories of people like me who swooped in after a storm and bought property on the cheap. Stayed on 7 mile beach a couple of times and wrote the people who owned my rental and they advised to do it if you can afford it.

What are you saying?????????????????????
 

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the keys to this type of r.e. investing are as follows: 1) the condo project must have sufficient reserves to cover all costs...the association dues and the project needs to demonstate this aspect through appeal 2) the condo management must be top notch in all aspects of managing a rental based project 3) the unit type must be the more likely to rent, i.e. single, 1-bedroom, 2-bedroom..etc 4) you must have enough money to cover at least 12 months of vacancy...ideally you would hope to break even after the mortgage and dues with 50% occupancy on an annual basis 5) you must also have enough cash to cover expenses such as furnishings etc... because nobody will rent a poorly furnished unit at prices you must obtain 6) you must decide if you plan on advertising the unit yourself and what amount of time can you allocate to the ownership/management needs and finally LOCATION LOCATION LOCATION...
 

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