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Thread: Income properties - advice please

  1. #1
    Join Date
    Jul 2020
    Posts
    2

    Default Income properties - advice please

    We're planning a move to Bonaire in the next year and intend to spend several months on island before making the final commitment and purchasing something. Does anyone have experience renting to short term visitors? I'm thinking about an in-law unit type of situation. Is there enough visitor traffic generate worthwhile income? In the event we're not able to make a permanant move I'd like to know thoughts on renting out our home long term between extended visits. I'd like to hear personal experiences. I know much has changed with COVID but what was it like before? TIA for any advice you can offer.

  2. #2
    Join Date
    Jul 2011
    Posts
    105

    Default

    Hi Sorcha -

    Feel free to email me and i would be happy to discuss things with you and answer all your questions via email, phone call or video call. My email is Bob@bonairehomes.com.
    Bob Bartikoski
    Owner RE/MAX Paradise Homes
    +599-786-7362
    Website: www.bonairehomes.com
    EMail: bob@bonairehomes.com

  3. #3
    Join Date
    Jul 2020
    Posts
    2

    Default

    Thanks Bob. I plan to work on a list for you this weekend.

  4. #4
    Join Date
    Sep 2016
    Location
    West Milford NJ
    Posts
    178

    Default

    I own an oceanfront property. Pre COVID-19 my property did very well with VRBO and was booked 40-50% of the year. I would have booked more but I use it 30-40% of the year myself. The property actually makes some money. COVID-19 will wash away 2019 profits and make 2020 a wash if Iím lucky. Itís all relative to investment. There are renters for everything from oceanfront to ocean views to secluded without views. If you can buy a home for $500,000 and get $2,000 a week for 26 weeks, pay your taxes and caretaking expenses and utilities and net $26,000 that is a 5.2% return on your $500,000 investment plus you get to use the house for free the other 26 weeks.

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