Quote:
Originally Posted by KeithF
I've done pretty much what you guys are suggesting. I've bought a condo in Cabarete instead of a pension in the UK.
Managing from a distances is not easy and the figures roks quoted are broadly in line with my projection. 10 weeks rental will break even for condo fees, electric etc but zero return on investment. But the value of the condo in the long term, I'm sure will be excellent. So breaking even is okay for me. In fact, even a slight loss is okay for a couple of years because that is what I'd be paying in to a pension plan anyway. I'm hoping for a positive return from rentals from year three, once I have a core of 'return' guests.
My main piece of advice is not to push yourself so far that you MUST have rental income to keep afloat. If you lived in DR you may be able to manage that but from a distance especially, I'd say that rental income is a bonus. If you can afford to have it empty, then you have a safe place to build from.
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Just very politely - how old are you? So that you speak with this much confidence about your returns in three-four-etc years ahead. Can you at least guarantee that you will live that much?
The reason for the question was my talk two days ago with a almost 80 y.o. american expat who still talks about short-term, mid-term and LONG-TERM investments.
I love those guys! Untill their last breath they keep talking only about making more and more and more money. Even women!
Beautiful!