MeandtheWife
12/30/2015 15:17 EST
Hiya, We are looking to move over from the UK in the later part of 2016. Sort of retirement but we will need projects to do to keep us sane. We were thinking of buying a property around Rodney Bay to live in and to buy a second one to rent out to provide an income. Does that sound like a reasonable plan? We expect others have done similar and would like to know any pitfalls that we face in doing this. After running our existing businesses for years, we intend to leave the shackles of conformity behind us and enjoy life. We are booked on another recce to St Lucia at the end of May, when we hope to narrow down the possibilities for our new home.
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bobbyveee
12/30/2015 19:51 EST
Hi, makes perfect sense to me, many doing it. You need to be in the bay otherwise letting can be a problem. Get in touch with Son at www.bluereefrealestate.com. he's very good. Good luck. Robert I'm ex Bournemouth
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DorisJ
1/13/2016 07:10 EST
Hi.
We just did this and did not buy in Rodney Bay. We bought within 500 m from a beach and have an amazing view. The home is a triplex and we paid approx $218,000 USD, for it. The cash flow is the bottom line really. If you have loads of money and the cost of the property isn't a concern, you will be tenanted more often the closser you are to Rodney Bay. We have priced our suites accordingly and have one long term with a St Lucian couple in it, and the other we will be starting to rent it out short term shortly. I'd recommend forming an off shore company and have it but the property as there are financial and time implications as well as it'll be easier to pass it along to others when you're done with it.
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bobbyveee
1/14/2016 07:17 EST
Hi Doris, what you've done makes very good sense. I actually prefer to be on high ground with a view rather than on the beach, the cooling winds are a big advantage. Going off shore is also a good idea and not difficult to do. Hope to bump into somewhere, its nice to have new faces on here. Robert
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