Costa Rica, Panama...

SJ: I met one of these groups at the Alys Beach reception Thursday - it was very interesting to hear what they are doing. I am thinking about tagging along one of these days.

Let me know your time frame of when you want to go to Panama and I will take care of making arrangements for you.

Let me know your time frame of when you want to go to Panama and I will take care of making arrangements for you.

GREAT thank you - I will :clap_1:

SHELLY: :clap_1: would love to hear more thoughts from you on these markets please.

_________________________________________

What markets are you referring to?...real estate in far-flung countries.... or the travel companies that are hosting the trips for the investulators?

What markets are you referring to?...real estate in far-flung countries.... or the travel companies that are hosting the trips for the investulators?

Whichever you feel like commenting on - enjoy reading your take on things ;-)

Whichever you feel like commenting on - enjoy reading your take on things ;-)

Costa Rica real estate is the Investment-Du-Jour. Google the words and you'll get anywhere from 16- to 32- million hits...the "secret" is out.

If one is planning on actually living there--as opposed to "flipping" land and property--it might be worth a look-see. If one is planning on investulating, one must add the cost of the "tour" to the carry costs and only use money they can afford to lose. I'm betting we'll be reading scam stories about the same lots and condos being "sold" to numerous "investors" some time down the road.

The way to play this game would be to find a way to cash in on the "investulator" tours (a premium paid per head you can stick on a tour maybe?), Costa Rican tourist hotels/bars, servicing American retirees, and, sometime down the line...securing a license to practice law in Costa Rica to represent disgruntled investulators.

(Of course for those investulators who actually take the time to look up the location of Costa Rica on a map, they'll note that it may very well be subjected to hurricanes. That would be one hell of a long drive to board up the windows before or rip out wet carpeting and spraying down the walls with Clorox after.)

Costa Rica real estate is the Investment-Du-Jour. Google the words and you'll get anywhere from 16- to 32- million hits...the "secret" is out.

If one is planning on actually living there--as opposed to "flipping" land and property--it might be worth a look-see. If one is planning on investulating, one must add the cost of the "tour" to the carry costs and only use money they can afford to lose. I'm betting we'll be reading scam stories about the same lots and condos being "sold" to numerous "investors" some time down the road.

The way to play this game would be to find a way to cash in on the "investulator" tours (a premium paid per head you can stick on a tour maybe?), Costa Rican tourist hotels/bars, servicing American retirees, and, sometime down the line...securing a license to practice law in Costa Rica to represent disgruntled investulators.

(Of course for those investulators who actually take the time to look up the location of Costa Rica on a map, they'll note that it may very well be subjected to hurricanes. That would be one hell of a long drive to board up the windows before or rip out wet carpeting and spraying down the walls with Clorox after.)

Panama, on the otherhand, has never had a reported hurricane. However, fee simple property has just been approved this past year in Panama and not every property is sold fee simple. You better know what the heck you are doing when you buy in a market which may be out of your league.

Panama, on the otherhand, has never had a reported hurricane. However, fee simple property has just been approved this past year in Panama and not every property is sold fee simple. You better know what the heck you are doing when you buy in a market which may be out of your league.

Precisely why the "big boys" are still investing in the USA.

You better know what the heck you are doing when you buy in a market which may be out of your league.

Hasn't stopped folks without a clue from doing it for the past couple years here in the good old U.S.A.--so they might as well go international.

I think the target audience for this latest pitch for foreign real estate is aimed at those who feel they've "missed out" on the U.S. real estate whoopee cushion.

I'd venture to bet that you can count the number of folks who "know what they're doing" on the thumb of one hand (over a 6-month period) on all those $650 7-day "Investor Tours of Panama/Costa Rica/Nicaragua/etc./etc."

Gringos beware. La hierba solomente es mas verde en lado otra (or somehting like that). :shock:

Gringos beware. La hierba solomente es mas verde en lado otra (or somehting like that). :shock:

El c?sped es siempre m?s verde en el otro lado de la cerca.

Tenga cuidado con Corredores de bienes ra?ces que soportan condo de preconstruction

:popcorn: wow they are going back and forth in spanish!!! (they could be talking about cat litter for all I know) LOL 😀

:popcorn: wow they are going back and forth in spanish!!! (they could be talking about cat litter for all I know) LOL 😀

How's your Latin?

Caveat Emptor!

How's your Latin?

Caveat Emptor!

:floor:

Yeah, or in vino veritas which is why the guys selling this stuff stick to Coca-Cola when los gringos estan ayer :lol:

better than Spanish.... I googled your words to learn that you were not talking about kitty litter!!!:floor:

How's your Latin?

Caveat Emptor!

I own property in Destin and Seacrest. I bought a lot in Panama a couple of years ago. My family is from there. Panama is an incrediable opportunity. It is so much cheaper than Costa Rica and Panama has a city that is not third world. Most major financial institutions are there and construction is booming in the city.

We bought a 1/2 acre lot on a golf course 150 yards from the beach for $50k. The development is about 40 minutes from the city. To build a 1,500 sq ft house would cost about $70K. The golf course was designed by Fazio Sr. and the development has an equestrian village. Something similar in Costa Rica would cost you about $400K. The easy $ in Costa Rica is gone.

There is so much development in Panama. I believe in 10years, it will surpass Costa Rica. One final note, there are no property tax in Panama for the first 20 years. Also, the purchase is fee simple and purchases are filed in the courthouse and kept on record. There is mortgage financing there if needed at rates lower than the us.

I own property in Destin and Seacrest. I bought a lot in Panama a couple of years ago. My family is from there. Panama is an incrediable opportunity. It is so much cheaper than Costa Rica and Panama has a city that is not third world. Most major financial institutions are there and construction is booming in the city.

We bought a 1/2 acre lot on a golf course 150 yards from the beach for $50k. The development is about 40 minutes from the city. To build a 1,500 sq ft house would cost about $70K. The golf course was designed by Fazio Sr. and the development has an equestrian village. Something similar in Costa Rica would cost you about $400K. The easy $ in Costa Rica is gone.

There is so much development in Panama. I believe in 10years, it will surpass Costa Rica. One final note, there are no property tax in Panama for the first 20 years. Also, the purchase is fee simple and purchases are filed in the courthouse and kept on record. There is mortgage financing there if needed at rates lower than the us.

Got any links?

Just found out Trump is building a curvy building similar to the hotel in Dubai featuring condos, hotel, casino, private beach and marina in Panama City. With the expansion of the canal, there will be tremendous commerce there. Now is the time to cash in.
Also planned is a 100 story condo named the ice tower.

Much in store in Panama.

Just found out Trump is building a curvy building similar to the hotel in Dubai featuring condos, hotel, casino, private beach and marina in Panama City. With the expansion of the canal, there will be tremendous commerce there. Now is the time to cash in.
Also planned is a 100 story condo named the ice tower.

Much in store in Panama.

I don't know anything about Panama RE, but I don't think Trump's involvement means it is necessarily time to buy. Trump is doing a huge project here in Tampa (mostly residential waterview condos), and it is very luxe and I think it's a sellout, but it hasn't necessarily boosted interest in the many other condo projects going up nearby. In fact since the Trump announcement a couple of projects have fallen by the wayside, and the other ones are just plugging along. Not much buzz. The market is cooling.

Sounds like you bought at a good time though. :clap_1: