Partner with Us |
||
|
John and Susan Gallagher |
|
| We'll also be buying another oceanfront single family house on St. Maarten, and another oceanfront house on St. John (probably on the east side of the island near our present house we're building at Coral Bay) If you'd like to own a piece of paradise in partnership with us, send us an email or give us a phone. Min. requirement is you should have $ 350K liquid to invest. Some people refinance their primary home or take out a home equity line to fund a vacation home purchase. We take care of all the rentals and provide you with a few weeks per year at the house, and free airfare (tax deductible to check on your investment). Our rental income usually more than covers the mortgage, cleaning fees, landscaping, pool care and misc. upkeep. We buy all new furniture and beds for each house wholesale direct and have it shipped over via container from Miami. We normally budget approx. $ 100k for the furniture, interior painting, landscaping, new light fixtures etc if we buy an existing luxury house. If the house needs a new kitchen and other renovations, costs may vary from $ 200k-500K. In the Caribbean, outdoor living area is just as good as indoor living space so we design huge patios, sometimes with multiple levels, a good sized pool, imported stone or tile surrounds, and shady areas covered with Gazebos or high roofs over outdoor dining areas. We even put complete kitchens outside with stainless steel grills built into islands, small refrigerators, etc. Location, Location, Location.....yes, the golden rule of real estate so all our houses have drop dead gorgeous views or are direct oceanfront (but set back enough to avoid storm/water damage) We've seen appreciation of 20% per year +++ on some of our vacation houses. A good investment, and you get to enjoy it! Our website, www.OurRentalParadise.com gets more than 300 unique visitors per day so we're able to keep all our houses rented nearly 52 weeks per year. Many customers have such a great time they book for the following year, or try one of our other luxury vacation houses. For families, renting a house (villa as we call them) is more affordable and convenient than staying in small hotel rooms. Our houses are usually 5-6 bedrooms so they can be shared by 2 families–or even 3 couples. |
||
After renovations and a few years' appreciation, we often can refinance the house and pay ourselves back $ 200k-300K. Taking cash out is tax free, whereas if you sell the property you have a capital gain so we try and avoid that. And by the way, there is no annual property tax on St. Maarten! If this is of interest to you, let's talk. Regards, Susan and John |
||
