investing in the caribbean a property investor’s guide to getting it right
contents an introduction to the caribbean ten reasons to invest in the caribbean five critical success factors six areas to investigate before investing four necessary evils summary and next steps about the authors
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investing in the caribbean | a property investor’s guide to getting it right
an introduction to the caribbean Miami Nassau
the caribbean region Firstly, it is helpful to understand where the Caribbean is and which islands comprise this tropical paradise.
Turks & Caicos Islands Cuba
geography Situated largely on the Caribbean Plate, the region comprises more than 7,000 islands, islets, reefs, and cays.
The Caribbean Basin
Cayman Islands Jamaica
As you can see from the map, the Caribbean Sea is a sea of the Atlantic Ocean situated in the tropics of the Western hemisphere; bounded to the south and west by the American landmass, with the North Atlantic Ocean to the north-east and the Gulf of Mexico to the north-west. More specifically, it washes upon (clockwise from the south) the South American countries of Venezuela and Colombia on the south; the North American countries of Panama on the south-west, and Costa Rica, Nicaragua, Honduras, Guatemala, Belize, and Mexico on the west; the Greater Antilles (Cuba, Jamaica, Hispaniola, and Puerto Rico) on the north, and the Lesser Antilles on the east. The entire area of the Caribbean Sea, the many islands of the West Indies, and adjacent coasts, are collectively known as the Caribbean.
The Bahamas
Dominican Republic
Puerto Rico
Virgin Islands Antigua
St Lucia St Vincent & The Grenadines Barbad Grenada
South America
Savvy property developers and investors have funded high-quality spa resorts, having spotted the Caribbean trend for:
• • • •
High room rates High rental yields High occupancy Capital growth
These islands, called the West Indies, generally form island arcs that delineate the eastern and northern edges of the Caribbean Sea. These islands are called the West Indies because when Christopher Columbus landed here in 1492 he believed that he had reached the Indies in Asia.
why consider the caribbean? Well, why not? It is still quite relevant to quote Merrill Lynch’s Global Wealth Report (2008) which states that “Emerging markets are still strong and likely to sustain high levels of growth.” “We predict that high net-worth individuals will likely return to the pursuit of high returns, particularly in emerging frontier markets such as the Caribbean”. Previously, you might not have considered the Caribbean as an ‘emerging frontier market’. However, we are confident that you will agree that the territories are not fully developed and yet the tourist industry is thriving.
investing in the caribbean | a property investor’s guide to getting it right
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ten reasons to invest in the caribbean
As with any investment, there are multiple influencing factors that determine whether you gain strong income or capital growth. From our experience, the key factors that make the Caribbean a strong contender for our portfolios are as follows:
01 02 03 04 05 06 07 08 09 10
Government-supported tourist infrastructure High demand for quality tourist accommodation An extended holiday season Easy access via frequent chartered and scheduled flights Prevalence of the English language Limited land available for development High room rates High occupancy rates High rental yield History of consistent capital growth
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investing in the caribbean | a property investor’s guide to getting it right
01 tourist infrastructure
Tourism has been a part of life in the Caribbean since air travel made the whole area more accessible. Major businesses and local governments fully support the contribution that tourism makes to their local economies. This support helps reduce the risk an investor faces when they are deciding whether to enter a market. We must stress that the Caribbean is an established tourist destination. The Caribbean has seen consistent growth and increased demand even in times of adverse weather conditions and economic turmoil. It does not present the same level of risk you would be subject to if you invested in a country that had recently joined the EU, in the hope that this would drive demand for tourist accommodation.
In the World Tourism Organisation Report, ‘Tourism 2020 Vision’, the organisation forecasts that the Americas, including the Caribbean, will experience an increase of 92 million arrivals between 2010 and 2020, and they will enjoy an average annual growth rate between 1995 and 2020 of 3.9%.
03 climate
The Caribbean islands are renowned for their fantastic sunshine, long sandy beaches and warm waters. Even the rain is warm! The day time temperature rarely falls below 70°F, or rises above 90°F. So, while weather patterns may vary from island to island, the one thing that is consistent about the weather is its year round sunshine and total number of sunshine hours, which make it a very popular tourist destination all year-round. This is critical to the occupancy rates and length of season for any investment you are considering.
Despite the large area over which the Caribbean islands are scattered, there is a strong similarity of weather and climate throughout the islands. The waters of the Atlantic Ocean and the Caribbean Sea are warm at all times of the year, being influenced by ocean currents from equatorial latitudes which unite to form the Gulf Stream to the north of the Caribbean.
02 demand
In its report, ‘Tourism Highlights 2009’, the World Tourism Organisation (WTO) shows that Tourist Arrivals to the Caribbean have been consistently rising year-on-year since 1990. In 1990, records show 11.4 million arrivals, and in 2008, total visitors increased to 20.2 million - a 77% jump!
Even during the peak of the global recession, the Caribbean tourist market showed growth. In the same report, the Caribbean increased its US Dollar earnings from $23.2 billion to $23.8 billion between 2007 and 2008. That same year, tourist arrivals grew 2% while other holiday destinations were reporting losses. So, the Caribbean held firm despite losing the disposable income from North American and European visitors who were suffering from the effects of the recession.
The area lies for the whole year under the influence of the north-east trade winds, or the North Atlantic anti-cyclone which lies farthest south in the winter period. This means that the weather is warmer and drier in the winter months of November through to April. This makes the area a popular destination for Europeans and North Americans who want to escape their cold winters.
04 access
The Caribbean region has always enjoyed the attention of visitors from North America and Europe. With the growth of budget airlines and an increase in the total number of flights available, flight costs have remained pretty flat, making it cheaper than ever to fly there. Many visitors return year after year and it is said that the majority of tourists who visit Barbados visit two or more times.
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You should find that visitors with passports that are issued in the UK, the European Union, North America and Canada are able to enter most Caribbean islands easily. However, you should always check with your travel agent and check the local Tourist Board’s website for advice and any restrictions. You need to make sure that your property can be rented by as many people as possible.
05 language
Most islanders in the Caribbean speak English, although there are some places where they refuse to speak it. You may find this occurs in predominantly French-speaking islands. Either way, you will find that people will make the effort to speak English when there is a living to be made.
developments that blend in with the local landscape will gain planning permission. In 2007, the UK’s Financial Times reported that, “In an effort to protect its natural heritage from over-development, the Government of the Caribbean island of St Lucia has an environmental section in its Ministry of Planning and nearly 30 laws setting out restrictions on new construction”. In 2008, the Financial Times also reported that, “Recent changes to limit development include a compulsory environmental impact survey to measure the effect of a scheme on land, local people and wildlife. There is also a ban on building new homes within 100 metres of the coast”. These restrictions are great news for investors because they control supply and create scarcity, each of which increase occupancy rates, increase room rates and increase the final price you sell your investment for.
07 high occupancy
All of the factors outlined above mean that high quality tourist accommodation is in demand. High demand delivers impressive occupancy rates of up to 85% for popular islands like Barbados. This is great news for investors as your occupancy rate and room rate directly impact your income and yield.
08 high room rates 06 controlled development
Scarcity is the key factor that protects your capital investment in the Caribbean. Although approved development land in the Caribbean is not outrageously priced, there is also very little of it available. Many of the Caribbean islands are very small and local governments quite rightly protect their country’s natural resources. Islands such as St Lucia and Barbados have a large number of planning regulations that protect heritage sites and rainforests. In addition, new planning restrictions ensure that coastal areas are maintained in their natural state and that they do not become overdeveloped. Only
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There is a lack of five-star accommodation available on many islands in the Caribbean. Tourists who travel to the Caribbean from North America and Europe are willing to invest in premium accommodation because they know that the low cost of living while they are on holiday balances the total holiday’s cost. This demand for luxury increases your nightly room rate.
The islands are glorious locations to host international sporting events. In peak cricket season, there is just not enough tourist accommodation to meet demand. In 2007, when the Cricket World Cup was held in Barbados, the government arranged for cruise ships to moor in Bridgetown harbour to provide the additional rooms for guests. This is a great example of how seriously Caribbean governments take their tourist trade.
investing in the caribbean | a property investor’s guide to getting it right
09 high rental yields
As an investor, the Holy Grail is getting a high return on your money. The combination of a long summer season, low room supply, high room rates, and high occupancy means that you are well positioned to benefit from a strong return on your investment. Commercially, you must understand that the resort needs to be managed to a high standard and marketed to the right audiences for you to maximise your returns. Providing you choose a supplier with a proven track record of delivering results, then high rental returns can be achieved. In the UK, residential landlords are happy if they are making a profit and maintaining positive cash flow throughout the year. A standard terraced property let to professional tenants might provide a yield of 5-6%, if you are lucky. Houses of Multiple Occupation (HMOs) are more likely to deliver a higher return than a standard buy-to-let, with a yield of 10-12%. Most people would be content with either of those options, as the returns are still significantly higher than simply leaving your cash in a deposit account, and your tenants are buying you an asset! Property as an asset class is a long-term investment, so if you are receiving a steady rental income and achieving long-term capital growth, you are doing well. However, it takes time to manage a property, and find tenants, and get references, and organise maintenance and get gas certificates and manage letting agents. So, managing a buy-to-let property is not always the passive,
profitable task that it is portrayed to. With property investments in the Caribbean, you are provided with a fully-managed service if you choose the right property investment vehicle. Marketing, operations and maintenance are all included as part of the package, which makes sense to a remote investor. The key that makes this proposition attractive to seasoned investors is the potential for rental yields over 15% - net of all outgoings!
10 history of capital growth
The Caribbean islands remain a holiday and retirement region of choice for both Europeans and North Americans. Records show that there has never been a decline in Caribbean property prices, regardless of property values in other countries. In a recent interview with the UK’s Independent newspaper, Allen Castenet, St Lucia’s Minister for Tourism said, “Property prices have remained robust throughout the financial crisis. The key is that we didn’t have a boom to begin with, so building levels were at sustainable levels. Therefore, we’re not having a bust”.
Indeed, the Caribbean property market has enjoyed growth above 10% per annum for the last ten years, and the market expects the trend to continue. This is good news for investors who will benefit from steady, sustainable capital growth. Although capital growth doesn’t pay the bills, for the long-term property investor there is reassurance that their equity is growing year on year.
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five critical success factors
01 location, location, location
This rule is valid for property investment the world over. The location of your property, its accessibility and its proximity to popular leisure facilities will all dictate the returns you achieve. After all, making a return is the only reason to tie up your capital. The Caribbean is broken down into three main areas: the Bahamas, the Greater and the Lesser Antilles. Historically, islands such as St Lucia, Barbados and the Cayman Islands in the Lesser Antilles have been the most popular destinations to buy property and this means that prices in those islands are at a premium. As always with property, you get what you pay for, and as a result property in these countries is still snapped up by those seeking quality. St Lucia is tipped to become the ‘new’ Barbados and each year, for the past three years, the World Bank has rated it as one of the top thirty countries to do business in, and crowned it the top English-speaking Caribbean country. Today, an increasing number of islands are emerging as more affordable alternatives to those established markets. Developments in the Dominican Republic, for example, provide the high-end luxury tourists demand for a more reasonable price. Antigua has also witnessed somewhat of a property boom thanks to improved flights and significant investment around the Jolly Harbour on the West Coast. Like many of its counterparts, Antigua offers challenging golf courses and premium yachting facilities for those after a sporting destination.
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investing in the caribbean | a property investor’s guide to getting it right
02 facilities
The location of the property and the facilities available at your chosen resort are core to its success. Take a moment to think like your customers and imagine your perfect holiday. What do you expect to see, hear and do? When we work all year and take two weeks out to rest, we want beautiful scenery, magical sunsets, and the best facilities we can afford.
When you are searching for your dream property investment in the Caribbean, remember it is an investment that must be measured based on facts and figures. Don’t let emotion creep into the calculation. This is not about the facilities you would like to have close by, or the type of house you would like to live in. It is about choosing accommodation with the right facilities that will attract the right volume of tourists to stay in your property.
Choosing tourist accommodation with the following facilities will maximise your income:
Beaches: The number of holidaymakers who just like to relax on a sunbed on the beach never seems to reduce. We love the sand, the local salesmen and the sea. Water: If you prefer a more serene approach to water, then a property overlooking a river, marina or canal, is a smart option. This type of break is perfect for sailing and boating enthusiasts. Although moorings will appeal to a smaller target market, you will be able to charge a premium for the facility. Golf Courses: Golfers are reputed to spend more on their golf breaks than other tourists do on beach holidays. Just because you don’t play golf doesn’t mean that you shouldn’t help them spend their money! Water Sports: Local schools offering sailing, windsurfing, diving and snorkelling are popular with more adventurous tourists, particularly given the warmth and beauty of the sea. Make it easy for your guests to fill their week with activities.
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Gymnasium: Look for a modern fitness centre that is equipped with the latest technology. Your guests will need a good workout to balance all the great food they will be trying. Spa: Ideally your property will be within reach of qualified therapists offering treatments and potions to reduce the stresses of modern living. Your guests are on holiday, so treating themselves is part of the fun.
Bars & Restaurants: These are essential. Tourists want to mingle and eat local food and have the occasional cocktail, or two!
If you are lucky enough to find a property with lots of these facilities then you are setting yourself up for success.
Yoga & Meditation: Relaxation is part of most holidays. These classes may appeal to people who have never found the time or courage to try them. Help make their holiday an experience they’ll never forget. Outdoor Courts: Sports facilities are becoming increasingly popular and provide your guests with the opportunity to attempt sports such as tennis and basketball that they probably haven’t played since childhood. Kids Clubs: These clubs are very attractive to parents who might just want an afternoon to themselves or who want their kids to socialise and make new friends.
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investing in the caribbean | a property investor’s guide to getting it right
03 quality
The quality of your property investment is critical. Caribbean tourists aren't necessarily millionaires but they are from developed countries and they do have high expectations. If your property's location is spot-on but your accommodation is poorly maintained and has limited facilities, you won't benefit from high occupancy rates or command high room rates. If you normally buy the best quality home you can afford in the UK, then we suggest you take the same approach, and buy the best quality investment property you can.
have the highest-spec property on the island, but you won't make a penny if you don't tell the right people that it exists. We believe that the best property investment opportunities include a well-funded marketing programme. We suggest that you only shortlist resort management companies with excellent industry connections and contracts with high-end tour operators. If you agree that it makes sense to have a single company manage your property’s maintenance and marketing, we suggest that you review properties which are part of a holiday resort. We have found this is the simplest way to tick all of the critical success factors listed in this chapter. New-build properties can offer great value for money if you buy off-plan and the majority of tourists want the amenities a resort development has to offer. Once completed, purpose-built resorts tend to appeal to a wider range of people. This is critical to you achieving the highest possible re-sale price if you ever decide to cash in your investment.
04 maintenance
The ideal way to invest in property in the Caribbean is to opt for a fully-managed solution. Your returns will be maximised if your property, the resort and its grounds consistently perform in terms of facilities, cleanliness and service. Bearing in mind that you will be thousands of miles away from your investment, maintenance charges are not an area to scrimp on. If a furniture package is included in your investment property, make sure that the replacement of damaged and broken items is included in the maintenance package. You want guests to be thrilled when they open the door.
05 marketing
Another factor to include in your property investment criteria is marketing. You may investing in the caribbean | a property investor’s guide to getting it right
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six areas to investigate before investing
Buying a property abroad is not about keeping up with the Joneses. You are buying to fulfil a financial objective. Whether its income generation, or capital appreciation – the purchase should fit in with your investment portfolio strategy. Based on our team’s experience buying property across the globe, we suggest you include the following actions in your due diligence process:
01 the location
The previous chapters have dealt with the location and facilities. Once you are happy that the Caribbean is your chosen destination, your next step is to choose an island and a resort that has an established tourist market and great holiday facilities.
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investing in the caribbean | a property investor’s guide to getting it right
• • • • • • • • • • • •
Is the same leadership team running the company now? Have any of their senior team run companies that have been liquidated? Do any of the directors have links with local government that will help or hinder this project? What is the name of the bank that is funding the loan to the developer? Does the bank have a history funding this developer, or similar developments? Who is your contract with - the developer or an agent? Will all contracts be drafted in English? Which country’s law governs the contracts? Do they insist that you use their ‘company’ lawyers? Can they arrange for you to speak to existing investors? Can you access and speak to a senior director easily? How often should you expect to receive project updates?
We can guarantee that finding out all this information won’t be quick, but it will save you money in the long run. If you are time-poor, you might want to pay your solicitor, or a local solicitor, to conduct the initial research. A bit of cash now will save lots of tears later!
02 the developers
Whether you want to invest in an existing property, or you want a slightly cheaper new-build option, you must know who your developers are. We cannot stress how important it is that you have fully investigated their background and you are confident that they are financially sound and managerially competent. You will be parting with thousands of pounds and dedicating a period of your life to making this investment a reality, so ensure that you are happy with the people responsible for managing your cash.
We recommend you find out the following: • • • •
What is the legal name of the company offering the property and who owns it? What is their track record of completing similar builds? Where can you see an example of the quality of their work? Have they been successful in this country before?
03 building regulations
We know that the building controls and protected regions in the Caribbean are restricting the number of building projects. As an investor, we benefit as this restriction raises the cost of available properties. It is your responsibility to find out if you are investing in a legal development and your responsibility to fly out and check progress.
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Some basic questions include:
•
•
•
• • • •
Does your developer own the title to the land they are building on? Do they have legal planning permission? Are they proposing to build exactly what is on the approved plans? Who will provide the certification of each stage of the build? Where can you view copies of the permission and certificates?
04 the business model
Your business might be investments, or sales, or you might even be retired. However, your approach to running your money should be the same as running your own business, and parting with your money needs you to understand their business. Key points to understand include: • • • •
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How does your developer or agent make money? How are they funded? Are they self-funded, or borrowing money? If they are borrowing funds, when are their tranches of cash released?
•
Are they reliant on investors’ cash payments to build the different stages of the project? What business partners do they list on their brochures and what value to they provide? Have these partners supported this developer before?
05 your commitment
It sounds basic, but keep asking questions. Do not sign any letters of intent or contracts until you and your solicitor have read all of the paperwork. What are you actually committing to? • • • • • • •
What type of ownership are you buying freehold, leasehold, time-share? What is the schedule and value of payments due? There are usually three or four. Can you realistically afford these payments? Is the loan a status loan (i.e. dependent on your age and income), or non-status? Which lender is backing your loan? Have they supported this developer’s work before? What stamp duty or equivalent is due to the local government?
investing in the caribbean | a property investor’s guide to getting it right
Once you have this information, talk to local property agents and decide whether it’s just easier to buy re-sale property.
06 the management company
Which management company has been appointed to run your resort? Are they competent and would you trust them to manage your UK properties? If not, walk away. We always research the following:
• • • • • • • • • • • • • • • •
What is the legal name of the management company? Who owns them? How long have they been in business? Have any of their directors run companies that have been liquidated? Have they managed properties in the Caribbean before? Have they managed similar properties in your chosen country before? Does your maintenance fee include all materials and labour costs to cover wear and tear on your property? Do the maintenance charges include resort security and landscaping to public grounds? Is your property’s insurance cost included in the maintenance fees? Does the furniture package include replacements from normal wear and tear? What months do they guarantee to keep guest facilities open for? What percentage of the time do they guarantee to keep facilities in good working order for? Are you able to use the property for personal use? If so, how often? How long does your rental guarantee last? How is the total rental income of the resorts split between property owners once the rental guarantee has expired? What additional costs could you incur?
Once you understand what they are promising to do, you need to get written confirmation of exactly what they are giving you in return for your investment. Meet the senior officers of your developers and the management company, and even visit the planning office to check documents. Don’t believe anything agents or developers promise until you have received an offer in writing from a senior representative who is able to sign legal paperwork on behalf of that company.
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four necessary evils
So, you visit the Caribbean, fall in love with an island, picture yourself relaxing around your new pool and then realise that you know nothing about contracts, or how to buy a property abroad, or the local legal system, or taxes or currency exchange rates - and panic! Now is the time to lawyer-up and buy the best legal advice you can afford.
01 legal advice: here or there?
We suggest both! The legalities of each island differ, sometimes enormously depending on which country last owned the island. The most robust way to protect your investment is to have a conveyancing solicitor in the UK who is working solely for your best interests and who knows what questions to ask, and to have a local solicitor who speaks clear English, and who understands the local legal requirements and processes. Ask other investors who they used and try to avoid the developer’s ‘recommended’ solicitors. It might sound expensive, but just calculate the cost into your expected return on investment (ROI) figure. Questions you need to ask your solicitors: • • • • • • •
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Do they have experience buying investment properties? Have they managed contracts for off-plan building projects? Have they helped foreigners buy property in their country before? Will they let you speak to previous English clients? How long have they been a practising conveyancer? How much do they charge? When are their fees due?
investing in the caribbean | a property investor’s guide to getting it right
02 inheritance laws
Even in the middle of planning our dream Caribbean property, we have to consider death and taxes! While you have solicitors under instruction, you need to understand what happens to your ownership upon your death: • • • • •
Does the local government accept the transfer of ownership to one of your relatives? Does your property automatically transfer to the State? If so, will your family receive any financial compensation? If the transfer to a relative is accepted, then is it a requirement that this person is specified in your Will for ownership to take place? Does your UK Will also have to be lodged with the local Caribbean state for the transfer to be valid?
Either way, buying a property abroad is an investment that will form part of your Estate on death, so it should be included as part of your normal inheritance tax planning. Don’t give away your property if you don’t need to.
03 taxes
Different Caribbean islands have different tax laws. If necessary, seek specialist tax advice so you understand the tax implications of your purchase. You may need to pay an equivalent to the UK’s Stamp Duty Land Tax upon completion, or you might find that your new income will create an income tax liability at home and locally! You must always go back to your numbers to understand if the investment is still worth pursuing. In some Caribbean countries, the growth of tourism revenue is a key objective. You may find tax incentives are already in place for developers and property investors. Your developers and local solicitor should be able to give you more information. Financial incentives include: reductions on rent income tax, zero tax on property purchases and a waiver on capital gains tax when you sell. Make sure you understand your tax obligations before you sign your paperwork.
04 currency
If the largest currency exposure you’ve ever had is buying a meal in Spain, then you might need help with this bit. You are used to buying in Great British Pounds (GBP), and the developer wants to be paid in US Dollars (USD). It all sounds straightforward. The difference here is that your transactions are $30,000 a time, not $30, and as your transactions are occurring on a future date, you have no idea what the currency exchange rate will be. This means that you have no idea what your cost will be in GBP on that date. If the market has moved to your advantage, then your payment might be lower than you expected. If the market has moved against you, then you might be paying thousands of pounds more than you expected. Any fluctuation will either cost, or save you money – and ultimately affect your yield. We suggest you get some free advice from a currency broker – in the worst case, your bank. They will help you plan your cash flow by securing the currency in advance at an acceptable exchange rate. This will help protect you against negative fluctuations.
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summary and next steps
Well done for reaching this point! We have reached the end of our book and hopefully we have provided enough detail to inspire you to start your journey. To recap, the key factors that make the Caribbean a strong contender for our property portfolios are as follows: • • • • • • • • • •
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Government-supported tourist infrastructure High demand for tourist accommodation An extended holiday season Easy access - frequent chartered and scheduled flights Prevalence of the English language Limited land available for development High room rates High occupancy rates High rental yield History of consistent capital growth
investing in the caribbean | a property investor’s guide to getting it right
Don’t just take our word for it. Follow our guidelines in the previous chapters and thoroughly research each of the points we list. Take your time to identify several resorts that match your location and facilities checklists. Then be scientific about the numbers. When you are happy with your forecasted yield, start investigating the parties involved in your development. Interview and select an
experienced legal team to protect you as thoroughly as possible. Understand your tax obligations at home and abroad and organise your currency broker to minimise the impact of currency fluctuations. Ultimately, investing in a property in the Caribbean is straightforward if you know what steps to take. Whether you intend to enjoy this lifestyle yourself, or you plan to profit from others enjoying your investment, we wish you luck with your venture.
want to find out more? The fantasy of owning your own piece of tropical paradise can become a reality and we can show you how. If, like us, you are looking for an affordable managed property investment with impressive facilities, within a five-star resort, then please contact Chris Jones at chris@positiveplus.info, or call us on 0845 199 0346. If you want higher returns and need a property that will give you projected net rental returns in excess of £12,000 per year, then you should also download our Caribbean Investment Guide. This Guide will reveal truly unique and remarkable Caribbean property opportunities.
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about the authors Chris Jones, Craig Donovan and Ken Paine are full-time investors whose risk strategies and investment decisions have provided them with the financial independence and lifestyle benefits we all crave. With over 60 years’ experience running successful companies, they have built an impressive network of investment specialists, independent financial advisors, accountants and forward-thinking business owners who are passionate about maximising the returns on their money. In 2008, after feeling the force of the global recession, Chris decided to leave the traditional financial community and become a full-time, proactive investor and trader. He invested in his financial education, spending the time and money required to learn from experienced investors and entrepreneurs so that he could reduce his learning curve in this particular area. Throughout their careers, they have been invited to review and promote numerous investment opportunities. Being mindful of their reputation and their own investment preferences, they built and refined a due diligence model that has protected their cash for many years. The ultimate acid test was always whether they would be prepared to invest their own capital into a property opportunity. In August 2009, a contact brought them news of an investment that, at first glance, seemed to be too good to be true. As most people involved in the property world will tell you: if it seems to be too good to be true, then it probably is. Eager to establish whether there was substance to this investment opportunity, Chris and Craig started their due diligence process, researching, asking questions and running the numbers. They found that the investment met their personal income and capital growth
expectations and that it provided a way to maximise the future returns of their paid-up pension plans. Between them, they have invested in several Caribbean properties and are continuously reviewing new developments that offer guaranteed returns and full management options. They have shared their good fortune with many friends and fellow investors and feel that this opportunity has helped them move towards their dreams of: • • • •
Financial independence Guaranteed income streams Capital growth Wealth in retirement
Chris, Craig and Ken are happy to share their experiences with anyone who believes that they also deserve to maximise their capital growth and income. They hope that you will take this opportunity to swot up and learn how to make considered investments in Caribbean property. They wish you the very best with your own investments and are happy to share their good fortune with you if you wish to follow in their footsteps. You can contact the team on info@positiveplus.info to discuss your portfolio.
T: 0845 199 0346 E: info@positiveplus.info www.positiveplus.info