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Indygal #209338
05/21/03 06:59 PM
05/21/03 06:59 PM
Joined: May 2003
Posts: 29
Mayan Seaside Offline OP
Mayan Seaside  Offline OP
Greatly appreciated,

We would actually have to borrow money(mortgage) but unfortunetly under the Canadian Bank Act they cannot do this for the purpose of foreign investment. Due to the high interest rates in Belize we probably won't pursue at this time.

I won't rush it and yes I do totally agee that we should first come there and test the waters.

I feel Belize will in time be the next developed island. The "new" Carribean. I do see the value of real estate increasing rapidly and I am afraid I will miss this opportunity.

Maybe looking into employment in belize and then once there decide what steps to take. I do read though that this will be very hard to do as the immigration laws are strict about foreigners coming and taking jobs.

Thank You Again


Re: Indygal #209339
05/21/03 09:03 PM
05/21/03 09:03 PM
Joined: Mar 2003
Posts: 1,123
San Pedro& Indiana
indygal Offline
indygal  Offline
Peter, There seems to be plenty of property for sale. And that usually means a bargin somewhere. But just like anywhere you invest, it take alot of time and energy to find a good deal. The first rule of real estate investing is "If you pay close to retail it is not a good investment." I find good deals on Real estate all the time, but I am looking hard to find them. My friends and family think they fall off the trees for me. I had a realtor in San Pedro tell me that "people that buy here can afford to hold on to their property till they get their price". I am not repeating that as gospel but I would guess that it may be more true then in most areas in the States. That said there are still divorces and deaths and all the other reasons people need to sell fast=for less. Because of what I do for a living I too initally thought we might buy and rent out a condo. I thought we would get a larger loan on our home to get the funds to purchase a property there. I'm glad we didn't now it was just too soon.
When are you going down and for how long? My husband and I will be down Jan to March. Staying at Royal Palms-nice place and not expensive. Belize is a great place.
Jobs-you will meet people who have managed to get work permits. If they can, you probably can too. I know that some times an employer who wants you will arrange for the permit, but even this takes several months. You probably will not work for some time, so come with plenty of money!
There are two books I have seen recommended on the message board: both are by Lan Sluder 1. San Pedro Cool, 2. Adapter Kit: Belize They might be helpful. Let me know how it goes for you. Pam

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