Many people dream of having a villa on St. John. And they figure that if they put it on the rental market, maybe – just maybe – it’ll break even. They’ll have free vacations, real estate appreciation, and no cash out of pocket.
I did say "dream", didn’t I?
Now, some people can make this deal. The big "gotcha" is mortgage payments.
For Bob Faucett, the owner of the three-bedroom house Sundancer in Fish Bay, the dream has come true. (Sundancer.com) He has a small, old, mortgage.
In conversation, Faucett explained how his first smart move was, what’s called in retail, "buying right." He purchased the property in 1998. The average home price, then, was about $450,000. He made some other smart decisions which he reveals in this first part of the conversation. To listen, click the "Play" button below.
If you own a villa, are building one … or are a dreamer … listen to this.
You can also download or hear the conversation by clicking here.
Great pod cast. It was interesting to hear about the family teamwork that goes into making it an enjoyable investment. I can’t wait to hear the second part.
Loved your pod cast. Excellent interview. Thanks
Thanks for the compliment. This one has gotten a lot of interest.
Part 2, next week, is also very good.
Frank