AmbergrisCaye.com Home Forums The Cayes Ambergris Caye Investing in Rental Properties (Yearly or Vacation)

Keep in mind, there have been numerous people who have come to Belize and become millionaires. They became worth one million, mostly because they brought two million.

Great thought. How long have you been in Ambergris? You said you're developing condos, are you builder/contractor? Do you also own rental properties, where do most landlords advertise their rentals?

I read that before about belize I think on this forum..makes me wonder what is so bad about the business environment there. Especially in real estate/rentals, if you were to invest in pre-built properties, what are the risks one is looking at?

I want to go around the island and put together a photo/narrative showing all the unfinished & abandoned projects. This culture is altogether different than anyplace in Canada or the US.

When you come here it is important to talk to a variety of people - don't just listen to bar talk.
The suggestion to live here for a year before making any investment is the most important information you will receive. This place is not for everyone. I've known a number of people who have sold or given away everything and moved here only to move back empty hand in a year or two.
Those of us who have posted here love living here. However, my lovely daughter is found of saying "This is an island of misfits, including you mother."
Good luck - maybe you will meet some of us.

I think the biggest business mistake made by expats is to start a business with which they have no experience. This is hard enough to do in a place where the culture, laws and other factors are familiar, but if you add in the learning curve of a new country it's hard to make a go of it.
Most of the failed developments were underfunded, over-leveraged or just flat-out badly planned.

To address the "misfit" comment above..... I've lived in several "end of the rainbow" destinations. The image of special places can attract people who are broken and hope a move will fix them. It's what happens. They leave.
Adaptable and adventurous people are often quirky, but they tend to succeed. In a small town we treasure our characters. Life is so much richer for their unique presence.

Diane,

I completely understand. Any business venture is fraught with a lot of knowns. I have operated businesses in 3 different countries, so I do bring a bit of experience but Belize sounds like a different beast.

I read a bit about corruption in the government. What has been your experience about this, specifically when it comes to real estate? Do you have to grease someone's palms to complete purchase of a property, transfer the title to your name etc? Do you have to know the right people to make things happen, or can you walk in at a government office and get work done?

Andrew

As for corruption - pots calling kettles black is a national sport. I believe none of what I hear and half of what I see.

As for buying property, lawyers and paralegals do title transfers in a very straightforward way. That should be the least of your worries.

They say even plastic will rust on the island. Too be sure a little grease helps!