The West Coast of Barbados – So good I bought there myself!

One of the benefits of being the director of a real estate investment firm is that you are usually the first to take advantage of the real estate opportunities you are looking for!

Over the years this has helped some of us acquire good sized property portfolios. We usually need them since not many of us have pensions!

Now, in recent years, the real estate investment market has become more and more difficult to operate, there just aren’t the funds that there were a few years ago. This means we all need to be a lot smarter about where we invest, we can’t just take our chances!

Well, since yesterday I am the proud owner of an apartment in Weston Resort, Barbados.

I thought I’d write a short summary about why I decided to invest here instead of any of the other investment opportunities that are thrown at us on a daily basis.

  • The location

In a market where performance really is king, I make sure to focus on areas that are already established. Areas where I know people will go on vacation no matter how the financial market is. For me the west coast of Barbados has this.

The types of people who regularly vacation here don’t mind that their mortgage rate has gone up a few percent. Chances are you don’t have mortgages!

  • the developer

Another important point for me is the quality and financial stability of the developer.

I have met the directors of Candelisa on numerous occasions, in London and in their fantastic glass-fronted offices in Leeds.

I know they have the facilities to not only build this, but to deliver it on time.

  • Your rent return

I have holidayed in Barbados before so please have an idea of ​​how much you pay to rent on the west coast.

Before offering Weston to our investors, we took some time to delve into rental values ​​in the area, as well as read the information provided by the developer. We found that with just 38% occupancy a return after mortgage payments of over £10,000 per year could be achieved. This amount of return in such a quality area is almost unheard of.

In the UK you would not expect the same amount of rent return in Kensington as in Manchester, at Weston we have achieved exactly that!

  • Your resale value

The last straw came when I did additional comparable research on competing resorts in the area. Simply nothing was close.

The fact that I could buy a 2-bedroom apartment within walking distance of Royal Westmoreland Golf Course for just £200,000 sealed it for me. Especially when I realized they were selling 2 beds at Royal Westmoreland for over £1 million! The closest comparable I could find was over £50,000 more expensive!

  • My long term goal

Actually, I am not planning to visit Barbados in the near future, I will put my apartment in your management scheme and reinvest the proceeds in the mortgage. I’ve calculated that I should be able to pay off the mortgage in just over 10 years taking into account renting for just 20 weeks out of 52. If I manage to rent for 40 weeks out of 52, that comes down to just under 4 years!

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