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.