Just closed on St. Croix USVI rental property!! Vacancy fear :(

[Orlando Goodon]

This might be just the pandemic affect but I'm concerned that there might not be enough renters at the $3000/month price point on St. Croix. We need at least $2500 to cover costs. So we are seeking a $500/month cash flow.

The house is a 4 bedroom in a private neighborhood. Half an acre land with some fruit trees. Washer and drier. Thing is, not a lot of high paying jobs on St. Croix I presume. I'm not really sure what the size of the market is there. How many properties are being rented for $3000 or more? Who is living in them?

I keep searching for listings but what I find is limited or inconclusive. They may not be listing properties where I'm looking. Who knows.

Any tips on the best way to get a tenant soon? A GOOD tenant. lol I was to do Air BnB but Covid changed that.

[Brian Garrett]

All the questions you're asking are things you needed to research and answer before buying the property. 

What made you pull the trigger without having any market knowledge and without doing any due diligence prior?