Executive Global
®
Productivity | Strategy | Profitability
''It helps to keep certain areas of St. John pristine and beautiful.''
Distinguished and Highly Knowledgable Realtor Who Has Lived on St. John Since 1978 | Served on the St. John Board of Realtors For 7 Years | Over two decades of experience in St. John
An Interview with Tammy Donnelly
Broker/Owner, 340 Real Estate Company, LLC
We interviewed TAMMY DONNELLY, Broker/Owner at 340 Real Estate Company, LLC, about the beautiful exotic paradise of St. John in the U.S. Virgin Islands, gaining insight into the many advantages this location offers to investors as we Ask The Expert about how
her distinctive knowledge and experience delivers value to clients.
Executive Global: For those unfamiliar with the region, how would you compare and contrast the islands of St. John with St. Croix, and St Thomas?
Tammy Donnelly: St. Croix is a coral made island about 40 miles or so to the southeast of St. Thomas and St John which origins were volcanic. St. Croix & St. Thomas both have airports and ship ports. St. John being 2/3rds National Park lends itself to a slower pace life with two lane roads and no traffic lights.
EG: Tell us about how the strong market for tourism in this exotic location with untouched white sand beaches, along with advantageous laws, may be a dream for developers?
TD: Tourism is our only industry, it is mostly a second or third home purchase market. We follow market trends here typically 6 months or so behind the mainland US good or bad.
EG: In what unique ways does the presence of the National Park maintain the stability of the real estate market on the island?
TD: It helps to keep certain areas of St. John pristine and beautiful with many hiking trails and beaches to go to.
EG: What additional benefits does your broad knowledge representing a variety of properties from commercial estates and land, to condos and residential homes, offer to clients?
EG: Being the expert in this field, comment upon the inextricable link between exemplary customer service and a thriving career in the realm of luxury real estate?
TD: You need to understand the market, study other luxury agents, become an expert in the communities where luxury buyers will be looking, and have the right network, marketing strategy, and mindset.
EG: And what advantages does the US Virgin Islands Economic Development Commission offer to real estate investors?
TD: Up to 90% reduction in corporate and personal income tax.100% exemption on other taxes, including business property and gross receipt taxes. U.S. currency, courts, and flag protection. Rental space at below-market rates in sponsored industrial parks.
EG: How may you be able to assist with financing of properties and in what ways may there be similarities with lending in the United States?
TD: We have a long standing relationship with 4 or so stateside companies that are licensed to lend in the US Virgin Islands. They offer competitive rates, many years of knowledge and great customer service, along with local banks that will lend on land purchases and commercial real estate and construction loans. EG
