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Updated about 3 years ago,
$300k US Virgin Islands house for Air BnB? Vacancy rate?
Found a house in st. Croix US Virgin Islands which is centrally located so not beachfront. It's in a private neighborhood. Simple single family single floor house. Sinking to spend 300000 on the house and then invest 20000 to update it since the house hasn't been updated in over 20 years.
my concern is it seems difficult to get much data on things on a small island. A lot of stuff doesn't seem to be online. So I'm concerned about getting the house and having a lot of vacancies.
also if I have two co-signers on the mortgage would I still have to pay 20 to 25% down since it's not a primary residence? One of the co-signers is a veteran. We only have thirty thousand for down payment on this particular property.
what are your thoughts in general about investment properties in the Caribbean which are not beachfront properties. I realized the beach is going to be 5 minutes away from pretty much anywhere on the island but it's not the same thing as waking up to waves in your backyard.