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Thread: Condo Owners Who Rent To Tourists

  1. #31
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    have you checked out the townhouses at goldcoast? pets are allowed there

  2. #32
    Senior Member Aruba4ever's Avatar
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    As a owner of 2 labs I can understand why you are only looking at places that would accept your pets. I too would not want to buy a house for only a part-time location. The benefits condo living offers would greatly out weigh having my own home.

    Quote Originally Posted by crdavies View Post
    I agree with everything you're saying about Pearl, it peaked my interest the most! But given we wish to eventually spend weeks/months on end in this investment, we've made the decision to only look at dog friendly units. Sounds silly, but we will always have a dog in our life over the years and don't want to leave her home if we spend say a month straight. I looked into houses as well, but not living in the country I feel so much better with the amenities a condo has to offer. If anything, maybe Pearl can be leverage for me to negotiate an even better price on other complexes? Who knows!

  3. #33
    Member crdavies's Avatar
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    Yes I have thank you, a bit higher of a price range then i'm looking at

    Quote Originally Posted by lucky View Post
    have you checked out the townhouses at goldcoast? pets are allowed there

  4. #34
    Member crdavies's Avatar
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    1 bedroom unit!

    Quote Originally Posted by schexc View Post
    Good point. What type of unit are you looking at in Palma Real?

  5. #35
    Senior Member schexc's Avatar
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    What level? I might know of one for sale that hasn't listed yet.

    Quote Originally Posted by crdavies View Post
    1 bedroom unit!



    OUR COUPLE'S RETREAT. THE PEARL CONDO HOTEL AT EAGLE BEACH. CONDO ACCOMMODATES TWO ADULTS. YOU MUST REQUEST UNIT #8. https://photos.app.goo.gl/lRquP1F4VtxyZhR42 RENTING DIRECTLY THROUGH http://www.thepearlaruba.com/.

  6. #36
    Member crdavies's Avatar
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    The particular unit I have been eyeing is 3rd floor, private balcony. But i'd consider others


    Quote Originally Posted by schexc View Post
    What level? I might know of one for sale that hasn't listed yet.

  7. #37
    Senior Member schexc's Avatar
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    If if my memory is correct then #42 an #43 are for sale. There is another one that backs up to Palm Aruba too, maybe #48? I think #47 recently sold. We've stayed in 42 and 43. Of the one's we stayed in #43 was in the best condition. I don't think either of them had updated inverter A/C units. From what we experienced 175-185,000.00 seems to be fair market value. Number 47 could have been purchased for less, maybe 150-160,000.00, but needed some TLC. The mid level units were in the 145-160,000.00 range. Our last few trips we rented a ground level unit from a very nice owner from California. She offered her unit to us, but we never discussed price. I think either 45 or 46, ground level sold for $150,000.00 a couple of years ago.

    Quote Originally Posted by crdavies View Post
    The particular unit I have been eyeing is 3rd floor, private balcony. But i'd consider others



    OUR COUPLE'S RETREAT. THE PEARL CONDO HOTEL AT EAGLE BEACH. CONDO ACCOMMODATES TWO ADULTS. YOU MUST REQUEST UNIT #8. https://photos.app.goo.gl/lRquP1F4VtxyZhR42 RENTING DIRECTLY THROUGH http://www.thepearlaruba.com/.

  8. #38
    Member crdavies's Avatar
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    Thanks for all of that, 43 does happen to be the one i've had my eye on! Currently listed for 179. Still doing some research and trying to decide if it is worth the purchase. The market seems to be growing, and I don't see it slowing down anytime soon. My thought is if I wait another 5 years, will it be listed for 200k+?

    Quote Originally Posted by schexc View Post
    If if my memory is correct then #42 an #43 are for sale. There is another one that backs up to Palm Aruba too, maybe #48? I think #47 recently sold. We've stayed in 42 and 43. Of the one's we stayed in #43 was in the best condition. I don't think either of them had updated inverter A/C units. From what we experienced 175-185,000.00 seems to be fair market value. Number 47 could have been purchased for less, maybe 150-160,000.00, but needed some TLC. The mid level units were in the 145-160,000.00 range. Our last few trips we rented a ground level unit from a very nice owner from California. She offered her unit to us, but we never discussed price. I think either 45 or 46, ground level sold for $150,000.00 a couple of years ago.

  9. #39
    Senior Member Aruba4ever's Avatar
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    Here is my thought on waiting. Lets say it does go up by 21k did you really lose money? Well that depends. Lets say you were putting down the required 40% as a down payment which amounts to 80k. If you invest that 80k and earn 6% return on your money you wont lose a penny it will be basically a wash. You will have 107k minus any taxes due which again would be a wash. All that said, just think of the fun you could have if you purchased now.

    Quote Originally Posted by crdavies View Post
    Thanks for all of that, 43 does happen to be the one i've had my eye on! Currently listed for 179. Still doing some research and trying to decide if it is worth the purchase. The market seems to be growing, and I don't see it slowing down anytime soon. My thought is if I wait another 5 years, will it be listed for 200k+?

  10. #40
    Senior Member schexc's Avatar
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    Certainly...hope it helped.
    I do know that initially she was asking $189,00.00 for the unit when we looked at it last March, so she's lowered the price, which might be good for you.

    As far as the market growing...when we first started looking back in 2010 it didn't seem like the US recessionary period had really taken hold in Aruba. It wasn't until 2012-2013 did we realize that a number of properties that we'd seen listed in the past were still for sale. Some of them for two plus years. In 2013 the pricing seemed to fall considerably. One bedroom units in Palma Real dropped from asking prices of 195-205,000.00 as much as 30-40%. That would have been the ideal time to buy. Since then asking prices have gradually started to creep up. I don't think they've reached their peak as before but they're getting closer. One bedroom new construction pricing inland for gated communities have been from $225,000 on up. PalmAruba is a good example of the upper end of the range. So as you said, it looks like it's only going up from here. How much can be demanded from an older property like Palma Real is a good question. I know a couple of the properties have already been redone. Add this to their continued maintenance sure sounds like a recipe for appreciation. JMHumbleO

    Quote Originally Posted by crdavies View Post
    Thanks for all of that, 43 does happen to be the one i've had my eye on! Currently listed for 179. Still doing some research and trying to decide if it is worth the purchase. The market seems to be growing, and I don't see it slowing down anytime soon. My thought is if I wait another 5 years, will it be listed for 200k+?



    OUR COUPLE'S RETREAT. THE PEARL CONDO HOTEL AT EAGLE BEACH. CONDO ACCOMMODATES TWO ADULTS. YOU MUST REQUEST UNIT #8. https://photos.app.goo.gl/lRquP1F4VtxyZhR42 RENTING DIRECTLY THROUGH http://www.thepearlaruba.com/.

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