My wife and I are 50 and are planning on wintering in Roatan when we retire. We would like to purchase something while we are still working, looking now and probably buy within the next two years. We have looked into buying at some of the resorts and renting it out until we can spend more time there. We were wondering if anyone out there tried the same plan of attack? Does anyone have dual residency in the US and Honduras? should we? Thanks
There are many people who buy at a resort like Infinity Bay and use the condo when they are there and place in the rental pool when not. But I encourage you to do serious due diligence because many times between condo fees, assessments and just lack of a renter will make that “investment” a very minor return. Then there are people like myself who bought a beachfront home and lived in for a while and then when going back to the States, put it up in a rental status with firms like Airbnb, VRBO and even a property management firm. Again, doing due diligence in those contracts for a property manager is necessary. When out of sight, your property can suffer. My suggestion is doing a long term rental first in an area of the island you are interested in: west end or east end; high tourist area, quiet neighborhood? many questions to consider. My one piece of advice: DO NOT RUSH IN.
Thanks Carol, we have looked into the condo thing and you hit the nail on the head with the return on investment. We did like that it would be constantly maintained and the locations are all pretty good. We have looked at some houses too. We will probably be coming down within a couple of years to do a more thorough search. Do you stay beyond what the visa allows and did you do anything as far as citizenship? Thanks for your info.