Hi Guys - I am seeking some direction in finding out the best routes online to find investors who have particular interest in investing in the Caribbean (Jamaica to be more specific). Sometimes I may see companies who have more interest in commercial development investments, but I am referring more to individuals who may be pursuing personal investment to possibly build a home or vacation spot they can AirBnB out.
In my experience - sometimes local Real Estate companies just list on the MLS then go to bed until someone random browses past it some months/years later.
Can I get some direction as to other avenues such as BiggerPockets that can provide some exposure on this to the right persons?
Have you gone to the Network tab on BP. And then put in your zip code and find investors on BP who live close to you?
I actually have, but I'm seeking just a bigger cross-section- Typically like an environment/chatroom/website that has a section for international investors who are interested in beach access lots for personal construction.
@Hezron Anderson if you want to advertise your lots here you need to upgrade to a paid account an post in the Marketplace.
I have been looking at investing in the Caribbean, though more in hotel/resort properties than residences. I've found there are real estate agents on the islands I've looked at, including Jamaica. So why not just list your properties with an agent in your area? I don't think there's any particular web site where Caribbean investors hang out.
There a couple of things that concern me with investing in any of these locations. One is the strength of the government. I don't want to have my property confiscated if the government changes, or end up in some ownership dispute. The other is healthcare. From what I've found, Jamaica is one of the worst in this regard. If you have a problem you're pretty much guaranteed that you'll need to get to an airport and fly to the US to get care.
Hi Jon. Thanks for the reply. I'm thinking to set up the pro account this weekend to post there.
1. I must say that's a good idea re the hotel/resort developments, but there's a lot of politics to deal with in that area as well. I find that most AirBnB villas with beach access provide good income for individual investors as they would be the primary owner of the property who manages the listing/payments and then deligate the duties of chefs/tour guides to an on-site supervisor.
2. For me, listing on the mls is a last resort, as 'sometimes' a more hands on approach helps to better filter the passion you have for something than if it were just listed and in some cases, forgotten. This may take more work but at least it provides a more direct contact with interested parties + less commissions if it goes well.
3. The government can only confiscate a property if it's has outstanding mortgages/ illegal activities being investigated. If the actual owner has no liens on it and is up to date with their property tax payments, the only thing to worry about is ageing dirt and insects.
4. Again, ownership disputes are only possible if you are a joint owner with someone else and both of your names are on the title, in the event that disagreements arise between you too ( i assume this is the case worldwide).
5. Healthcare is available, however the type of healthcare is important. If it is something in the category of major surgeries (brain/ heart) or cancer related chemotreatments, no doubt, the US will have better resources to handle those emergencies, but locally, the the hospitals here are actually equipped to provide optimum healthcare, private hospitals moreso at a higher cost with better service than public.
Also - question - as it relates to a country discovering live oil within... what is the impact on the real estate there?
Not sure what you mean by "live oil". I assume you mean if commercial quantities of oil and gas were found on some Caribbean island. If offshore drilling rigs start showing up off the beach in Negril, property values will be hurt. A spill that covered a beach in tarballs would really hurt tourism. OTOH, a major project to start petroleum development would bring in workers and they would want housing. That's happened in many places in the US, including parts of CO when fracing really started taking off.
Thanks for the info Jon - I heard of that in Colorado as well - there seems to have been a discovery of oil offshore the south east coast of Jamaica and some developments have been sprouting these past few days. There seems to be massive interest in petro-developments on that side too. I just don't know how much housing will develop on that end, as it's mostly just mountains on that side next to the sea.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.