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Caribbean real estate

Posted on 1/14/10 at 3:17 pm
Posted by I Love Bama
Alabama
Member since Nov 2007
38423 posts
Posted on 1/14/10 at 3:17 pm
Do any of you own anything outside the U.S.? I am throwing the idea around and would like to bounce some questions off of the experienced.
Posted by LSUAlum2001
Stavro Mueller Beta
Member since Aug 2003
48188 posts
Posted on 1/14/10 at 3:19 pm to
quote:

Do any of you own anything outside the U.S.? I am throwing the idea around and would like to bounce some questions off of the experienced.


Are you planning on living there or will it be a place you visit throughout the year?

Posted by I Love Bama
Alabama
Member since Nov 2007
38423 posts
Posted on 1/14/10 at 3:48 pm to
just to visit right now but maybe stay for extended periods for retirement.
Posted by LSUAlum2001
Stavro Mueller Beta
Member since Aug 2003
48188 posts
Posted on 1/14/10 at 3:49 pm to
quote:

just to visit right now but maybe stay for extended periods for retirement.


I'd be worried about leaving it unattended when you are stateside. You may have to hire someone to care for the place when you are gone.
Posted by I Love Bama
Alabama
Member since Nov 2007
38423 posts
Posted on 1/14/10 at 3:52 pm to
I'm looking more for opinions on stable governments and projected future appreciation. I am clueless.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 1/14/10 at 3:53 pm to
US and BVIs would be a good bet then, IMO.

youre looking at least $1.2M for anything decent on St. John.
This post was edited on 1/14/10 at 3:55 pm
Posted by Redhorse
Baton Rouge
Member since Jan 2009
30 posts
Posted on 1/15/10 at 12:38 am to
I did some research and found that there are modest places and rock star private islands. You will need either a management company or if at all possible find a handyman service to do grounds maintenance for you. Obviously get references.

I didn't do much research on the legalities and process but from the little bit that I did do, it seemed fairly straight forward.

I found some smaller islands in the BVI that were only accessible by boat and/or helicopter. That will be the route that I go. I am looking for very little tourism. Don't think the helicopter is in my future so by boat is the way I will go. Most are no more than about 30-40 minutes by boat to a large island that has everything such as airports or major shopping.

If you are planning on retiring down there, there are some websites that have information as how to "give up" your citizenship but it didn't sound worth it unless you had millions. I talked to my financial advisor and he said the same thing.

Another thing to consider when looking is whether or not that island has phone, internet, and other major utilities. While I want to get away, there is no way I could give up the internet or my ability to call someone when I wanted to. I even checked on what satellite phones go for in case I found a steal of a deal on an island that my Iphone didn't work on. BTW the pricing of satellite phones is about the equivalent of old cell phones with the 100 minute plans. You don't just sit on the sofa and have a leisure conversation unless you want to set your credit card on fire.

Posted by Beer did clam
BatonRouge where CATS are RATZ
Member since Oct 2009
1515 posts
Posted on 1/15/10 at 2:13 pm to
Haiti may be real cheap now.
I know of people that bought in Montserrat AFTER the terrible volcano and got in good.


Posted by I Love Bama
Alabama
Member since Nov 2007
38423 posts
Posted on 1/15/10 at 2:21 pm to
That would be a great idea if I was looking to vacation without any type of utilities and possibly be brutally murdered in my sleep for $20 bucks.
Posted by Beer did clam
BatonRouge where CATS are RATZ
Member since Oct 2009
1515 posts
Posted on 1/15/10 at 2:29 pm to
I didn't suggest New Orleans!!

There are upscale parts in each area..
Posted by notiger1997
Metairie
Member since May 2009
61334 posts
Posted on 1/15/10 at 4:26 pm to
quote:

I didn't suggest New Orleans!!


Go screw yourself.
Posted by RollTide4Ever
Nashville
Member since Nov 2006
19654 posts
Posted on 1/15/10 at 5:32 pm to
quote:

know of people that bought in Montserrat AFTER the terrible volcano and got in good.



Interesting. I spent a few of my childhood years on that island and left right before that tragedy happened.
Posted by lsu711
Member since Sep 2003
14738 posts
Posted on 1/16/10 at 12:06 pm to
What is life like nowadays in Montserrat? Anyone know?
Posted by coolpapaboze
Parts Unknown
Member since Dec 2006
20874 posts
Posted on 1/16/10 at 2:03 pm to
quote:

I'm looking more for opinions on stable governments and projected future appreciation. I am clueless.

It would be hard to beat Costa Rica. Many Americans living down there. Stable gov't and fairly accommodating to ex-pats. Check it out.
Posted by Feed Me Popeyes
Baltimore, MD
Member since Apr 2008
2104 posts
Posted on 1/16/10 at 5:14 pm to
quote:

It would be hard to beat Costa Rica. Many Americans living down there. Stable gov't and fairly accommodating to ex-pats. Check it out.


same with Panama. I've done a ton of research on this topic for my dad who wants to retire somewhere close to the equator in a few years. Panama and Costa Rica are the best combination of low cost, safe(er), stable, great weather, and proximity to the US. Word is definitely out about Costa Rica though, so don't be expecting a beachfront lot for cheap. You should be able to still get a great deal in both places, but it is apparently way better to "go local" with a real estate agent instead of going through some American broker online


island nations are generally going to be pretty expensive due to the limited amount of real estate, the fact that nearly everything must be imported, and a lot of rich European expats. If an island nation in the Caribbean happens to not be expensive, then you can assume it's probably pretty dangerous for the (comparatively) wealthy American
Posted by Redhorse
Baton Rouge
Member since Jan 2009
30 posts
Posted on 1/16/10 at 6:58 pm to
Not true. There are islands in the BVI that are safe but not mainstream as some of the larger islands. The one that I picked is only 1/2 mile wide and 2 miles long. Has a grocery store, bank, doctor, and the essentials. Just no airport. 45 miles to Nassau and 20 minute boat ride to major tourist shopping. Cheaper than buying a place in Florida that overlooks the water.
Posted by jmarto1
Houma, LA/ Las Vegas, NV
Member since Mar 2008
38038 posts
Posted on 1/16/10 at 8:15 pm to
St. Croix isn't too bad, but it is kind of quiet. Stay with the USVI or BVI.
Posted by Feed Me Popeyes
Baltimore, MD
Member since Apr 2008
2104 posts
Posted on 1/17/10 at 1:40 am to
in general, what I said is absolutely true.

Yeah you can find exceptions in some small islands that are only accessible by boat/helicopter like you are talking about, but I personally wouldn't want to deal with that.
This post was edited on 1/17/10 at 1:44 am
Posted by Loubacca
sittin on the dock of the bay
Member since Feb 2005
4130 posts
Posted on 1/18/10 at 11:34 am to
I would look into Belize. It is a British Protectorate and has a very stable govt. English is the national language and everyone speaks it.
Posted by blueslover
deeper than deep south
Member since Sep 2007
22792 posts
Posted on 1/19/10 at 9:52 pm to
Panama has passed Costa Rica as the retirement destination of choice.

Here's some sites about international living-

https://www.internationalliving.com/

https://www.expatexchange.com/index.cfm

https://www.escapefromamerica.com/2009/10/time-to-escape-from-america/

LINK

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