3 places to own your dream vacation home in the sun for $ 75,000 or less
You don’t need a jet set budget to take advantage of the world’s number one wealth building strategy.
I am talking about buying opportunities in the real estate markets abroad.
By focusing on emerging markets, a modest investment of $ 67,000, for example, can generate a steady cash flow of $ 9,000 to $ 10,000 per year.
And you wouldn’t buy the kind of cookie-cutter one-bedroom condo you might expect to find at the bottom of the American real estate scale …
You could buy on a world-class beach in one of the world’s most attractive places to spend time … which means your vacation or second home in the sun could double into a cash-generating rental when you don’t. not use yourself.
Additionally, you would be diversifying outside of the US dollar and US markets.
As the earth continues to move beneath us, dividing our wealth into different pots … and across different currencies and international borders … is more critical than ever.
And, I repeat, you can take advantage of this essential wealth building and lifestyle enhancement strategy even if your purchasing budget is very small.
We call them “pocket money” markets, places where you can invest in the vacation home in the sun of your dreams for less than six figures.
In fact, in a number of key markets right now, you can get as little as $ 75,000 or less.
Long famous for its miles of golden sandy beaches, including icons like Ipanema and Copacabana, it’s hard to imagine snatching up a beachfront property in Brazil for less than six figures. But in the northeastern state of Ceará, the beaches are just as gorgeous (without Rio’s crazy crowds) … and the prices are underrated.
Today, the path of progress stretches along the coastal part of the city of Fortaleza (with its own international airport) to the seaside resort of Canoa Quebrada and beyond. Better yet, the tourism industry is driven by the locals. Although the number of international visitors is increasing, the economy is not dependent on foreign tourism dollars.
The currency advantage is also on your side in this market. Currently, the dollar is trading at over 5 Brazilian reais. This means that everything from restaurant meals to hotel accommodations to buying a property is getting a big discount.
For the best returns, look for a property directly on the sand or as close to the front line as possible. Prices for beachfront condos start at $ 67,000 and can generate an annual net return of up to 15%, making it one of the best places in the world to invest in tourist rental property.
In 2019, the Dominican Republic snatched the award as the number one tourist destination in Cancun during the Thanksgiving travel period. Greeted by Conde Nast As a ‘new hotspot for the Caribbean’, we expect this country to continue to rise when people start vacationing again.
In the Dominican Republic, there are two main markets of interest to investors: the beaches of the Samaná peninsula (especially those near the city of Las Terrenas)… and the capital, Santo Domingo. Both have a strong tourist appeal, but this is the capital where it is still possible to take a stand for less than $ 100,000.
As the oldest city in the New World, Santo Domingo offers visitors a rich culture with numerous museums and theaters. In addition, it is an increasingly cosmopolitan city with possibilities for gastronomy, shopping and live baseball… all on the coast and close to the best beaches.
The city’s Zona Colonial, a UNESCO World Heritage Site, features countless Spanish colonial buildings. It is possible to find renovated apartments for as little as $ 70,000.
Northern Cyprus is the part of Cyprus that falls under Turkish control. Despite the political problems, business continues as usual on both sides of the border … although, to the point, prices remain much more affordable on the Turkish side.
Northern Cyprus also has the advantage of owning most of the island’s coastline. In addition to attracting sun worshipers, it has a strong casino industry (hence its reputation as “Las Vegas of the Mediterranean”) and a booming medical tourism sector. All of this translates into a growing demand for tourist accommodation.
The best deals we see here are for pre-construction projects at beach resorts where your investment can be completely turnkey. Prices start at around $ 75,000 and net rental yields range between 11% and 15%.