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I have been scanning the Real Estate adds on St Croix. Do you guys think its a good idea to buy a condo and rent it out until I can make use of it maybe 4 years from now. How are the property managers? One place specific was La Grande Princess. A one bedroom, said tenant would love to stay. What do you all think?
And I'm still very jealous of you all, but luv ya!
Neal
Owning a property when you are not here can be a problem. The management companies take anywhere from 30-50% if you do short term rentals. If you do long term rentals you can do i yourself but you should be here to select the tenant. But be ready to sort out many people who just go away in the night. Take first, last and one months security if you rent long term.
If I had a choice I would not buy as prices are not going up very fast. One huricane and they will go down.
billd
Well we bought a condo in December 05 and it's gone up a great deal. We've never stayed in it. Just kept it rented. So it worked out for us. We only went for long term tenants and had a property manager who took 15%. Just another opinion.
Thanks so much for reply. If you don't mind would you be willing to share the name of the property mgr. you use and we could contact them. We live in Atlanta GA and also have another condo in Florida. Do you guys own elsewhere besides STX? Anyway, thanks again for reply, if you have any other info please pass it along.
Thanks and God Bless,
Neal & Janet
