Caribbean Property
Has anyone purchased property in the Caribbean? I'm looking into buying a condo somewhere and was wondering how anyone got financing? I'm just starting the initial process and was wondering if anyone had tips, pitfalls, etc. Especially preconstruction condos...
I'd like to hear also. Some countries don't allow foreigners to own property.
I just got back from the Bahamas. Its unbelievable to see the number of timeshares, condos available for sale. I think, as long as you have enough capital for downpayment, and a bank willing to finance you, you can buy anywhere in the world.
I've read alot on the different rules of ownership and local financing, but I'm hoping someone out there knows of lenders in the U.S. I could use? I've read stories of 30% interest and 50% down payments in some local places. (Not quite the type of investing I'd like!)
If you include Puerto Rico in your Caribbean interest, the laws are pretty much those of the US. Send a private message for additional information.
JR