My wife and I have just inherited a pretty substantial sum from her Aunt Carolyn. She lived in the Cayman Islands and we are thinking about finding someone in property development in the Cayman Islands so that we can build a rental property on two small plots of land she left us. We would visit her once a year and she showed us these plots, and she slowly signed them over to the two of us and our three children so that we would not be stuck with a large tax obligation when she died. The kids are really heartbroken and do not want us to sell Aunt Carolyn’s Condo on North Seven Mile Beach. It is a great place, but it is obviously a one bedroom condo. That is great for a 73 year old widow, but there are five of us. We always rented a place from a friend of hers when we went down there.
I would love it if we could sell the condo and use the money to build a rental home large enough for family vacations.