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Re: Ambergris Caye as an investment [Re: gsreimers] #511501
02/09/16 11:32 AM
02/09/16 11:32 AM
Joined: Apr 2009
Posts: 515
Florida, Belize, Noerth Caroli...
CaptOneIron Offline
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CaptOneIron  Offline
I would like to add, and I don't mean this as being cruel, you will quickly find that every single San Pedrano you meet will consider you as a source of income for themselves whether or not it is in your best interest. It is like walking around with a big target on your back.


Captain One Iron
Re: Ambergris Caye as an investment [Re: CaptOneIron] #511502
02/09/16 12:24 PM
02/09/16 12:24 PM
Joined: Jun 2008
Posts: 2,000
SW, MA / SW, FL
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ragman Offline
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ragman  Offline
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You must learn that sometimes you have to give instructions on something that you may think is not necessary but do this respectfully. It was only a few decades ago when there wasn't much going on in San Pedro and learning the ins and outs of complicated machinery; modern construction or maybe the hospitality/restaurant business is not something that could be learned when they where young. Be patient and respectful.

You must learn to say no thank you and thank you.

You must learn that tomorrow only means not today. It does not necessary mean tomorrow. They don't want to disappoint you so they are apt to say tomorrow when it could be next week.

You must learn that a loan is not a loan and not to expect to get repaid.

You must learn to evaluate the stories of medical emergencies of family members and other emergencies requiring money.

You must learn to keep your mouth shut at times when maybe you only think you know best.

You must learn to be respectful of your workers feelings while still being firm. ie: 8 am starting time is not 8:30 etc.

The people of Belize are some of the best I've ever worked with. They are very clever and very friendly. One of the best compliments I've received in my life was one day when I was telling my men that I was leaving and wouldn't be their boss anymore. I complimented them on their ability and how much I'd learned from them. Two of our best employees immediately told me together how sorry they were that I was leaving and how much they had learned a lot from me. I guess it was a mutually rewarding experience and you can't ask for more than that.

There are many struggling people in the USA who are in similar positions whether self imposed or not. They would take any advantage if you allowed them. It is very difficult to be in business in the USA or here. If you go into business here it could be a very rewarding experience but not necessarily wildly financially rewarding. Again good luck.

Last edited by ragman; 02/09/16 12:30 PM. Reason: removed quote

Jim
Formerly from somewhere on a beach in Belize
Re: Ambergris Caye as an investment [Re: ragman] #511537
02/10/16 09:10 PM
02/10/16 09:10 PM
Joined: Oct 2010
Posts: 39
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OttoGear Offline
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OttoGear  Offline
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I've lost lots of money in the United States buying stocks that went down and that I sold at a loss. I have also lost money in alternative investments while living in the states.

But the land I bought in Belize many years ago is still there and has more than doubled in 20 years. At least I have my piece of land and I can not get my money back from the stock losses.

Boo Hoo and Yeah Belize !!!

My recommendation: Buy lots and lots of silver now because it will go through the roof in the future.



Re: Ambergris Caye as an investment [Re: gsreimers] #511562
02/11/16 09:48 PM
02/11/16 09:48 PM
Joined: Dec 2009
Posts: 111
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Agavegirl Offline
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Agavegirl  Offline
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We came down to Ambergris Caye in 2000. We came back in 2001. We decided to purchase a small, unique property in a small condominium complex that had just come up for sale. We thought of it as only a "Jumping off point" should we decide to retire in Belize. It was reasonably lucrative and we liked and trusted the developer. He had the condo next door and lived there. We made a decent amount of rental cash with the one Condo and enjoyed free lodging for our 2 vacations a year. The developer decided to expand and build another resort North of the cut. At that time it was a hand ferry to get across and we bought another unit there pre-construction. We were required to purchase a furniture package.

Long story short...We became Me. I inherited the Belize (fully paid for) properties as part of a divorce settlement. Enter...2008. After my divorce I listed both properties for sale at the then FMV which was higher than my basis in the properties. I was able to sell property one (the small resort) for a small gain. The second property I did not even break even and it took over 5 years to sell due to the proliferation of other listings of similar properties on the island.

Prior to my final sale, US banking law changed. I could no longer bring back a check for my rental proceeds in US Dollars. I had to got through a bunch of hoops to open a bank account locally and big IF..the bank could disperse US funds, I could take them home. It turns out none of that mattered because the property sold just before I could set up a US dollar bank account. Now the rental proceeds are in limbo unless I use them there or wait. I waited and am using them at the same resort. After which, I can receive the remaining balance in the rental income of my already sold property through a new arrangement.

Do check out the banking laws. Do consider your personal use of the property. Do consider the current market. Do conisider your management company and the two year history of rental income. Do consider your own willingness to have a long term relationship with Belize.

Re: Ambergris Caye as an investment [Re: gsreimers] #511576
02/12/16 06:34 AM
02/12/16 06:34 AM
Joined: Jun 2006
Posts: 664
San Pedro
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lil'red Offline
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lil'red  Offline
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Agavegirl makes a VERY good point. Getting your money into Belize to invest is easy. Getting your money OUT of Belize is nearly impossible. But one more thing few people consider, and I wish I had when I "invested" in my first restaurant here. Do look at auction properties. Everyone wants new development, and pre construction. I watch the auction properties and have seen how quickly last years "new construction" can become this years fire sale. They are sold not with the owner in mind, but with repaying the bank debt. I went to one in town auction, the only person in attendance, and the lot I was bidding, I could have had for $50,000BZD plus the fees. The lot had been on the market for $79,000USD for 2 years. I got my bank loan together and in that time a friend became very ill, and the money went to hospital bills, but the property stood for another year with no interest. It went again to auction and sold to a young man about a year ago, and I bet he did not pay more than $40kBZD for it.

Re: Ambergris Caye as an investment [Re: OttoGear] #511578
02/12/16 08:05 AM
02/12/16 08:05 AM
Joined: Jun 2008
Posts: 2,000
SW, MA / SW, FL
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ragman Offline
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ragman  Offline
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You have to have a lot of talent to have lost money in equities if you held them for 20 years in the States. That has not been my experience and even with the recent drop in equity prices I'm buying a little and not selling. Good luck on Silver and Gold, but hey maybe it is "different" this time.

Land, well the value of land have increased tremendously in the USA over time in most places and most of my real big gains have been connected to this. A few years ago I bought a three units in FL and 2 are already worth about 35% mores on a quick sale if I wanted to sell. The other I've only owned for a year and it is about worth what I paid for the property plus my expenses. It will do fine in the future. In my youth I bought up a lot of relatively cheap land on the edge of city. Well years went by and the city grew into this area. One 4 acre lot that I had bought for $10K I subdivided into 18 house lots. Another piece of property a mile up the road became a strip mall abutting a new shopping center at a 20X + gain. My point is property is good most anywhere over the long term. However some countries and systems provide you with more protection than others. Last but not least, "TIMING" can be everything but long periods of time are very forgiving.

Good Luck with you investments.


Jim
Formerly from somewhere on a beach in Belize
Re: Ambergris Caye as an investment [Re: gsreimers] #512968
04/09/16 12:23 PM
04/09/16 12:23 PM
Joined: Jul 2010
Posts: 1,461
San Pedro, Belize
Judyann H. Offline
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Judyann H.  Offline
smile


My friends call me Judyann

www.blackorchidrestaurant.com
Re: Ambergris Caye as an investment [Re: gsreimers] #513007
04/11/16 05:40 PM
04/11/16 05:40 PM
Joined: Dec 2011
Posts: 26
Minnesota
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gsreimers Offline OP
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gsreimers  Offline OP
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Judyann, It was a pleasure meeting you and Tom Friday night and the snapper I had at your place was wonderful. We enjoyed our stay and looked at a couple of condos while we were there. Now I have some research to do to see if we can possibly make the dream a reality.

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