Buying a condo: Sapphire Beach Resort vs Point Pleasant
Hi my wife and I are considering buying a condo in St Thomas to use part time, and would then rent the condo, either short term or longer term. Point Pleasant and Sapphire Beach Resort & Marina both appear to be appealing. They both seem to have nice amenities, near the water, appear to be easy to rent and desirable for tourists. I was wondering if anyone had any opinions on which resort might be a better choice or value. Also if it is possible to be cash flow positive on renting out at either location? Also any comments on the management of the resorts and the opinions of owners would be really helpful because there is very little online about either. Thanks
I sent you a Private Message (PM).
The first question you need to ask is are you a beach person or not? Sapphire Resort sits on Sapphire Beach, the best beach in STT. If you are a view type of person then Point Pleasant is for you. Then there is the question of the problems at Sapphire Resort. If you believe that they will be resolved in the near future then that is not an issue with you. But they have been going on for 3 years now and I would assume that there will be some sort of fund needed to pay off the land holder. But you would need to talk to someone or talk to your realtor..
I don't know but I would think that Sapphire Resort, after all the mess is done, would be a better buy. But you need to see for your self.
Be sure to figure in condo dues and upcoming possible special assessments. If you are thinking of renting to tourists figure in your WAPA bill (which could be very high) and management fees. I belive Antilles manages both.