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All Forum Posts by: Hezron Anderson

Hezron Anderson has started 2 posts and replied 10 times.

Interesting. I am very familiar with this process as well. I've built a home in Jamaica as well and have 2 other properties (land). I am currently selling one of those lands- which is a beach access 18,000 sq. ft lot next to the beach in a private residential community on the North Coast- about $140K. I don't know if anyone here may be interested in that one- but if you are, you may reach out. It's about 5 mins walk from the beach. (My Display picture is taken from the beach itself). 

When going into rental property development- the location in Jamaica is very important. if it's in a local town- you will literally only be looking at near to $600 per month. If it's in an upscale community, you can easily get up to $2000 per month (for just a 1 or 2 bedroom). If you are choosing to list it on AirBnb, then you can easily scale that to over 10K per month. If it's a big property and you choose to build like a bunch of townhouses on it (maybe 4-5 units), then you can actually sell each 2 bedroom townhouse for at least $250,000 (if it's 5 units, then you just made over 1.2M USD, (even though you may spend approx $110-130k or so to build one. 

Post: Caribbean Investment in Residential or Commercial Property

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

Apparently - investments are booming in Jamaica and there seems to be rapid changes in the Tourism industry as the country takes the lead on Caribbean Economic Leadership. Chinese investors have flooded the island, particularly the North Coast, which has been in serious expansion with Hotels, Housing units, AirBnB communities, Commercial build-outs and upscale residential communities. 

Additionally, over the past 5-10 years, almost all the hurricanes that threatened the Caribbean diffused after hitting those first countries from the right, leaving Jamaica untouched (call it- sheltered) in the middle. This has helped a lot, which has seen Jamaica make a turn as the leading Caribbean country for investments. While there may be incidents every now and then in certain remote areas, the crime rate has gone down and many overseas personnel are purchasing lands and ready-built apartments in Jamaica, mostly for AirBnb/vacationing purposes, as well as for commercial development. 

Just my 2 cents, based on experience and keen observation over the years. Feel free to reach out with any queries. 

Hezron. 

Post: Revisiting idea of vacation condo

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

How about Jamaica? The real estate market is booming, as foreigners continue to purchase private homes and private properties near to the beach like crazy. Resorts keep going up and the influx of visitors-turn-investors continue to spike each month. There are literally no barriers to foreigners owning real estate and it is relatively cheap to build in Jamaica. While it may cost 400K USD upward to cop a good property in the US, one can purchase land for near $150K and build a 10 room dwelling or a townhouse type apartment complex for around $200-250K USD. Not to mention - the climate being warm all year round - hello winters on the beach!

Let me know your thoughts - i have some connections in this regard. 

Hezron. 

Post: Foreign Real Estate Investment

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

@Jeanelle Garcia - I have a few links in Jamaica regarding this exact topic - in the Trelawny area, smack between Montego Bay and Ocho Rios, near the beach. The properties are Land though, that overseas persons would buy and either build their own house or villa on, to live, or to rent as an AirBnB. If you are still seeking more info on this, feel free to reach out via inbox. 

Hezron. 

Post: Best London/UK Real Estate Links?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

Hello - I am seeking help in finding some of the top UK/London Real Estate companies to engage to find International Real Estate investors or just persons interested in property outside of the UK. Anyone knowledgeable in this area can provide some guidance?

Thanks,

Hezron

Post: Guidance on where to find Caribbean investors?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

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. 

Post: Guidance on where to find Caribbean investors?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

Also - question - as it relates to a country discovering live oil within... what is the impact on the real estate there?

Post: Guidance on where to find Caribbean investors?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

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. 

Hezron.

Post: Guidance on where to find Caribbean investors?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

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. 

Post: Guidance on where to find Caribbean investors?

Hezron AndersonPosted
  • Summerfield, Clarendon
  • Posts 19
  • Votes 3

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? 

Thanks,

Hezron.