I have owned a codo on one of the nicest beaches in the Caribbean for nearly 30 years. I have never even come close to breaking even or making money.
Rentals take a lot of time and effort and are like a second job
Electric bills can easily exceed $1000/month. Water bills are in the $300/month range unless a toilet is running or a faucet leaking and if that happens it is more like $1000.
Assesments of $10,000 are not at all rare and that is on top of monthly dues of $1400/month.
Be sure you can afford that and sustain a negative cash flow.
Yet if I had to do it over again I would still buy when I did. The place is very special for me and my family and we have gotten a great deal of pleasure from owning it.
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