Virgin Islands Vacation rentals. British or Us
Hey everybody
I'm interested in purchasing a home or condo in St Martin / st barts / st croix / st Thomas and renting it out as a vacation rental. Not sure which is easiest or better. Anyone with any experience / success in the Virgin Islands ? Is vrbo and airbnb best? Or use a realtor etc?
Would love to discuss anyone with experience or any re attorneys down there etc.
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Most Popular Reply
There certainly are single family or condos that cover expenses. I just found some financials of a house that I analyzed a few years back. Expenses were ~$90K/yr and rental income $120-$130K/yr. Home value is likely $1.4M. The high season rate is $4500/week and low is $3100/week. The owners did a great job of minimizing expenses and handling the bookings themselves, thus cutting out some of the steep PM fees. However, those rough numbers represent a 3% cash on cash return and if you finance it wont even cash flow as the debt service will be $80K/yr.
Not to say that there arent profitable investments in the VI, they are just difficult to find.