So you want to own a villa: an owner speaks

Many people dream of having a villa on St. John.  And they figure that if they put it on the rental market, maybe - just maybe - it'll break even.  They'll have free vacations, real estate appreciation, and no cash out of pocket.

I did say "dream", didn't I?

Now, some people can make this deal.  The big "gotcha" is mortgage payments. 

For Bob Faucett, the owner of the three-bedroom house Sundancer in Fish Bay, the dream has come true.  (Sundancer.com)  He has a small, old, mortgage.

In conversation, Faucett explained how his first smart move was, what's called in retail, "buying right."  He purchased the property in 1998.  The average home price, then, was about $450,000.  He made some other smart decisions which he reveals in this first part of the conversation. To listen, click the "Play" button below.

If you own a villa, are building one ... or are a dreamer ... listen to this.

You can also download or hear the conversation by clicking here.

Comments

[Heather]

Great pod cast. It was interesting to hear about the family teamwork that goes into making it an enjoyable investment. I can’t wait to hear the second part.

[Grace]

Loved your pod cast. Excellent interview. Thanks

[Frank Barnako]

Thanks for the compliment. This one has gotten a lot of interest.

Part 2, next week, is also very good.

Frank