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#511338 - 02/04/16 03:58 AM Ambergris Caye as an investment
gsreimers Offline
My lovely bride and I have been to La Isla Bonita twice and are coming down again in less than sixty days and counting. We have both talked about Ambergris Caye as a place to spend much more time after retirement and I have read all the post about the expats coming down and the challenges of island living. I have loved my visits and look forward to the day they can be longer, but I have no intention of ever moving down full time. While Minnesota winters are long and awful, the summers are beautiful and we have a lake place to spend 6 or 7 months a year at.

My real question is does anyone have any stories to share about buying properties in AC as an investment. I'm tired of losing 30% when the American stock market drops 20% and gaining 10% when the market goes up 20%. Last trip down (2014) I spent quite a bit of time talking to a gentlemen that bought a condo during preconstruction, realized a gain in value upon project completion, enjoyed rental income while not there, and sold to buy another unit in a newer development.

So is this a pipe dream or a possibility. I know there are risks, projects not finishing, cost higher than anticipated, rentals not as promised, but if anyone has anything to share, I would love to hear your stories.

Thanks

Gary and Kari

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#511364 - 02/04/16 02:41 PM Re: Ambergris Caye as an investment [Re: gsreimers]
Judyann H. Online   content
"bought a condo during preconstruction, realized a gain in value upon project completion, enjoyed rental income while not there, and sold to buy another unit in a newer development." This was certainly our experience ..... However we have since witnessed projects gone wrong and people losing money when the bank steps in.......We would recommend using a builder with a track record in Belize, a project that is accessible by road and land in a well established area. We continually hear of people investing based on 'futures' (i.e.; airport, road access etc.).... I am not a Realtor however owning a restaurant/bar, we have the unique experience of listening to people's stories on a daily basis. Send me a private message and I can share with you projects that we know are doing well and others that we believe will do well based on the developer/builder.......
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#511378 - 02/04/16 09:44 PM Re: Ambergris Caye as an investment [Re: gsreimers]
carrottop642 Offline
All I can say is: DON'T DO IT, DON'T DO IT!!!! Ambergris Caye was an absolute nightmare not only for myself but for many people I know. Look around but don't be fooled by preconstruction promises, if it sounds to good to be true, run away fast. Nothing goes well in that country, keep your money in the U.S., there are plenty of beautiful places in the south and your money is safer along with your well being.

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#511379 - 02/04/16 10:52 PM Re: Ambergris Caye as an investment [Re: carrottop642]
larrypied Offline
Invest wisely! No the check is not in the mail, trust me, I won't %$# in your mouth!

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#511383 - 02/05/16 02:03 AM Re: Ambergris Caye as an investment [Re: gsreimers]
Shyboy Offline
Have purchased two properties One is ok; 2nd is fantastic.

Bottom line; know your broker. I have been doing this in the states for 40 + years.
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#511398 - 02/05/16 05:50 PM Re: Ambergris Caye as an investment [Re: Shyboy]
joey2angels Offline
Shyboy....

Your nose is growing.....

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#511399 - 02/05/16 05:52 PM Re: Ambergris Caye as an investment [Re: gsreimers]
joey2angels Offline

When you get a chance I would like to set up a meeting. I have a beautiful bridge for sale in the US you might be interested in making an investment.

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#511401 - 02/05/16 06:21 PM Re: Ambergris Caye as an investment [Re: gsreimers]
RobertJ Offline
Iíve had more than a few conversations with folks who have invested in Ambergris......a minority seem to feel there is promise, but I think it was wishful thinking. The majority of my feedback was ďDonít Do ItĒ.

Weíre talking about a wonderful place to vacation, but, really, itís a who-knows-whatís-next Banana Republic.

There are lots of better ways to put your loot in jeopardy.

You donít need to own everywhere you go.


Edited by RobertJ (02/05/16 06:23 PM)

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#511403 - 02/05/16 10:58 PM Re: Ambergris Caye as an investment [Re: gsreimers]
Shyboy Offline
Joey... Happy to go over $$$$$ figures with you anytime you want. There are cash deals to be had way under MLS prices ( from time to time).Trick is; keep it rented.
_________________________
A little known fact... Women who are overweight tend to live longer than men who mention it...

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#511404 - 02/05/16 11:01 PM Re: Ambergris Caye as an investment [Re: gsreimers]
elbert Offline
It seems people come to Ambergris, have a good time on vacation and make hasty, foolish decisions about buying a condo while under the influence of the carribean breeze. They then slam the country for their error. There are lots of successful developments and rental management programs. You just have to look around carefully and not forget your brains in the states. Talk to other owners.
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