resources on loans for investment property?

I agree with Promo, not because he agrees with me, but because he asks a simple question, to an expert, who should have this information @ her/his finger tips!
Me, I don`t know a dam thing about St.X RE(only that it`s worth much less than Stt/StJ).
Me,I can answer all kinds of answers regarding STT. RE ( as an investor) here going back to Marylin (1995).
The graph on: shows the amount of sellers/activity in St.X from the period Jan 1987-Aug.2000.
While most of the data from the http://www.pressenter.com/~inews/home.html is dated,there is information suited towards USVI property owners, mostly political (most I agree with)
Any Realtor can provide comps in the area/property type your interested in, though, with the current market, they wouldn`t have you dwell in the past (much cheaper).
As I said before, StJ RE is down, STT is flat (I`m going to try low-ball offers myself here, all they can say is no!) Again,
don`t know about St.X RE!
The lull in the Stock market, coupled with the lowest interest rates in 40+ years drove up RE markets globally a few years ago,Now, the Dow is up, housing is down, though, I don`t have a crystal ball!
Me, unless I see a bargain, I`m not going there!
If I`m wrong in a few years (doubtful), shoot me!
Dun

People...what is up with everyone hijacking posts???? Can't you just stick to the questions asked? If you don't have info to share related to the question you shouln't post!!!

Hi Amanda,

Haven't you noticed? Usually, by the time a thread gets into the second page, and definitely if it makes it to 3 pages, it has gone to hell in a hand basket.

Sometimes, it can be brought back on track, but probably better to re-post and start fresh, if you still want constructive comments.

I will be the first to admit, sometimes, I think it's kind of a hoot. It's like watching reruns of Dallas or Dynasty. You can get a mental picture of Linda and Joan going at each other's throats.

Hope the people seeking serious info are getting the answers they need and having a chuckle too!

We were still talking about investment property till the last two post.

Posted by: aschultz (IP Logged)
Date: Today, 07:46PM
"We were still talking about investment property till the last two post."

I agree with aschultz above statement!
Yup, it`s a hoot, I agree, but we can keep this thread on track(it didn`t go too far off to regroup).
ProMos questions still are are valid, he wishes to gauge the local RE market(an informed investor has less regrets!)
Also, Realtors don`t charge for their time, they work on commissions (you can negotiate a deal with the listing/sub broker, even 1% on a $1,000,000 purchase adds up).
Also, all Real estate information is public info!
Just go to the Lt. Governor`s office with the property owners name, parcel, or PWD#, you can see the history of the property your interested in!( you`ll be hanging out with mostly title insurance folks & Realtors, doesn`t sound like fun, but the reading is sometimes quite rewarding!)
Generally, you`ll have more pull if you deal with the listing broker as they don`t have to split the commission with anyone else. , if you need to purchase retail.
Or you can seek a buyers agent (I can feel eyes rolling from here...)
Anything you tell a Realtor who is on the behalf of the seller, they must convey to the seller!
Be careful!
Happy hunting!
Dun

Dun
Nice post I agree with you two. Except the buying agent thing. I am a plumber so lets get that strait. If you are not familiar with the market,like you are not born and raised there. That is what most transplants deal with. That is Wye it is nice to have a good buying agent work for you not the seller. It could be very easy to make a bad decision.

Aschultz, I think what Dun is referring too is what many people believe is that there really is no such thing as a buyer's agent since the seller pays both agents.

Sometimes the buyer does actually pay the buyer's agent. It is even possible for a buyer to owe a buyer's agent a commission when the buyer purchases from a FSBO. Depends how the agreement with the buyer's agent is written.

A buyer's agent will probably ask you to sign a contract stating that agent is YOUR agent, and you become locked into buying only through that agent, even if your cousin decides to sell you his house.

It is possible that another listing agent will refuse to pay your buyer's agent a commission, in which case, you are responsible to pay. The offer to purchase should be written to include who pays commission to whom, so it's not like you get a bill you didn't know about at closing.

I'm not saying this would probably happen, actually it probably would not happen that way. Most Realtors are "real people" and realize that working together and maybe letting you out of a contract, so you can buy from your cousin (or whomever) will be in their best interest in the long run. Of course, even if you buy from a FSBO, having a Realtor on your side can make the transaction a lot smoother, and may be worth paying for.

This is my amateur 2 cents worth attempting to answer the question on building costs etc in Hard Labour.
If the building site is remote, delivery costs etc will be higher. The labour costs per square foot will be the same as any other area. The cost of the finish work will depend on yr choices and budget. The only variable that I can see is the cost of the land... the taxes might be lower, reflecting the cheaper locale. So...one would probably spend the same in construction costs per sq. foot, but the resale value would reflect the desirability of the location.
One could spend a whole lot of cash and end up with a white elephant.

Location location location - resale is something that we all have to think about - our lives can change in an instant.
Hope this was useful in some way.

Hahahahaha!! Thanks all for input!! I appreceiate it!

Jane you no how you can have $200,000 lot and a $20,000 lot. Sometimes the same house can be worth allot more than the difference in the price of the lots. That is called getting some return.

I think that is wha t Jane is saying. Location, location, location.

I have seen a couple of houses on STX that if they were in a different neighborhood, they would be worth three times what they are asking. They cost the same to build, The land would have cost more somewhere else, but not the triple price they could have gotten.

There are lots that have a nice view of the ocean, but the neighbors drsg the price down. I am NOT refering to any race! In am refering to the fact they the neighbors are what in this area we call "trailer trash". There are old junk cars and garbage in the yards, run down houses, weeds three feet high, etc. You don't have to be rich to have a decent kept yard. Yes it does cost money to keep the place painted, but not to pick up the garbage.
We passed on two lots because of this.

Not only is the poor upkeep of surrounding properties a consideration, but a remote property will put off potential buyers...poor access road, isolated in times of trouble, delivery problems etc...are all possible negatives for resale (in other peoples' minds). Unfortunately, that is what one is dealing with when one is selling one's house...other peoples' minds.

Jane I no all about selling a house sucks thing. I am in escrow on won of my houses right now. You just get so tired of hearing all the bad about it. Especially when you do all the work your self. But I have learned get a good architect and make it look like Pottery Barn. This might be sellers perspective but the buyer payees everything. No buyer no deal, the seller looks at the offer, figures find out what he -she will make and takes the deal.

Terry I guess what I was asking Alexandra back there was if my neighborhood was one of them. It does not matter because that place is where I want to live. Not much profit in that. But I no how hard it can be to build from the states. So I might duplicate it some where else on the island. The real high end is easy to find. The land cost to much for my comfort level. That is why I ask about Hard Labor. Prosperity NB looks good to, how about The River. May be east but the boom has happened there a long time ago. Trying to read the Cristal ball here. Its very clouded. What Jane calls vacant lots I call rainforest's. That is one more nice thing about the green side of the island I had not thought about.