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#209333 - 05/19/03 01:51 PM Investing in real estate  
Joined: May 2003
Posts: 29
Mayan Seaside Offline
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Mayan Seaside  Offline
I am a canadian looking at investing in some real estate which I can rent out. I saw two condos attached for a price of 199,000us on Ambergrise Caye. I am wondering if we rented one of them and lived in the other could we call this a business. We will be starting off small but you never know what can happen.

The catch is this, my wife and I have never been to Belize but we have done alot of research and it does look appealling. It is growing more popular by the year and we believe this is a very good place to purchase land as a investment.

The question is what are the chances of a a foreigner with a business degree and tourism degree getting a job(managerial)at a hotel in Ambergrise Caye. How hard will it be to get a visa,from my research it looks next to impossible. My wife could manage the property and I could work.

Before we decide on purchasing this property we will be coming to Belize to investigate it.

Any help is appreciated.

Peter

#209334 - 05/20/03 12:29 PM Re: Investing in real estate  
Joined: Mar 2003
Posts: 1,123
indygal Offline
.
indygal  Offline
Will let others address work permits. Real estate investing is something I do know about. There are two big problems with RE investing in Belize. Obtaining money and vacancies. If you need to borrow funds to purchase the interest rates are high-around 12%. If you can borrow funds at lower rates else where it would make more sense. But,not much, there is still the problem of vacancy and there will be plenty of vacant time. We have been there in Jan, Feb. and May. and at those times, there were always lots of places to stay. Translation -vacancy. If you are going to use your own cash to purchase you still need to figure what return you would get if you did not purchase a rental property. Have you done any real estate investing in Canada? My suggestion is come live in paradise (rent)for at least a year before you buy anything. Rents are reasonable and see what is out there for you. Ambergris caye is a wonderful place. If you wish to get into further discussion, I will be glad to answer any questions. And, perhaps some one on the board has rental property and could give some insight.


Life is not about waiting for the storm to pass, it's about learning to dance in the rain.
#209335 - 05/25/03 04:21 PM Re: Investing in real estate  
Joined: Jul 2000
Posts: 18
rokky Offline
 
rokky  Offline
Indy Gal...will you email me, I need to ask you some questions.
carolyn

#209336 - 05/25/03 08:26 PM Re: Investing in real estate  
Joined: Mar 2003
Posts: 1,123
indygal Offline
.
indygal  Offline
Rokky
Would be glad to email you except-I must be message board challenged, can not figure out how to get your email address.


Life is not about waiting for the storm to pass, it's about learning to dance in the rain.
#209337 - 05/25/03 08:27 PM Re: Investing in real estate  
Joined: Mar 2003
Posts: 1,123
indygal Offline
.
indygal  Offline
Rokky
Would be glad to email you except-I must be message board challenged, can not figure out how to get your email address.


Life is not about waiting for the storm to pass, it's about learning to dance in the rain.

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