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Rental property

Hi everyone

I will be semi retiring in about 5 yrs and was wondering whether I should purchase an apartment in cabarete now or whether I should wait until I can spend the winters there.
I'm basically asking if purchasing now and renting it out is a viable idea or not. If anyone has some experience with renting vacation property any advice would be greatly appreciated.
Thanks for any replies

First welcome to the forums.  Yes it is viable!  Absolutely.  You need someone you trust on the ground, making sure things are being taken care of, the rental management agents will take a commission and make sure the  unit is kept maintained and cleaned in  between rentals.

Bob will likely be able to recommend someone to you!

Thanks for the welcome planner and also for the reply.
As I'm currently looking at properties on the century21 site I noticed some of them being advertised as good rental potential which kinda peaked my interest.
I will be coming to cabarete this winter for a few weeks and will stay in an airbnb location to get a feel for things.
I was going to wait until semi retirement (5yrs) but if renting is viable plus a few stays for me instead of renting a hotel for the next five years that might be the better way to go.

Might be honey!

Depending on location and who you use to manage the property it can be a viable option.  We actually had a rental condo in Ocean Dream for many years. We did the management and actually had about an 80% occupancy year round.
Again it all depends on location.

Bob K

Thanks for the reply Bob.
If you don't mind me asking why did you sell it and also how long did it take to sell,seems like there is a lot of property for sale in the soshua cabarete area.

We were just downsizing and it seemed like a good time to sell it.  We actually sold it to someone looking for an condo on face book and never really listed it. We sold it in 5 days after contacting this person.  However we know of other condos in our complex that have been on the market for a while  and others that sold relatively quickly.  It all depends on location and  price.

Bob K

Hi Biggs,

Cabarete and the surrounding area we love. We are from Connecticut and own a condo in Hideaway Beach # 1 since 2005 and its for sale. Everyone in the building are from the states and Canada. We would like to sell to purchase a house.  We are on the surfing beach: Encuentro and Chez Arsenio is the wonderful restaurant on our property. Our administration for renting and cleaning is awesome and on top of everything. We also rent through Homeaway.com and Airbnb. If you want to look see Homeaway.com # 3792534. It's a great property. Let me know if you have any questions.  Good luck with your search.
All the best,
D

Hi d
Thanks for the info.Right now my head is swimming with all the information I've been reading about, and I'm hoping to narrow my choices once I visit cabarete.
In the meantime thanks for the reply.

All about being here and seeing things yourself, get a feel for it, meet.some.people.  Take your time! Dont let anyone rush you!!

Good advice from Planner.  Do through research before buying anything.

Bob K

Yes great advice, I keep telling myself I have lots of time and there is a lot to take in but I know in the end it will all be worth it.
Been reading a lot of the posts on this forum and really there is tons of good info,I'm glad I found this .
Gil

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