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cdoggown

Considering A Property Investment Abroad...

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Hi kids,

 

 

So the wife and I are seriously thinking about leaving the US in a few years. We have a check made out already to purchase property down off the carribean in Belize. The website is www.sanctuarybay.com

 

What do you guys think? We would pay off the land first them build our dream home ($53 per sq. foot there now) and live/work/play within the community. The cost of living is super cheap there, and this would be a great way for us to decompress and live a bit slower.

 

Last question and the reason Im actually posting this HERE, is should I just go with the DSL available at BTL.net, or should I wait for the Hughes DirecWave setup to get good enough to support online gaming? I used to have a DirecWave setup, but hte upload was dialup and it was KILLING me. Any info would be cool!

 

 

Chris

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hmm, seems like the place is mainly about tourism.

 

how would you make your income overthere?

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hmm, seems like the place is mainly about tourism.

 

how would you make your income overthere?

 

 

Well, I wont need much income by the time I get there as we wont have any debt and the house would be paid for in cash. Im thinking 16 to 20 hours per week working either for the communications company I linked in the first post, or helping to manage the condos or marina.

 

The little bit thats left over after living expenses we would invest. CDs in Belize are returning 8.5% on $1000 Belizean (about $487 USD). Not too shabby.

 

And while they will have a resort on the other side of the bay, the actual community will all be plot owners and have stakes in the wildlife reserve, and the marina.

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sounds interesting, i might join you after getting my b.s.

 

heh, hope its worth something overthere.

Edited by Enyce2k9

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Yeah we are really looking forward to it. The builder that the developer has contracted is super expensive, even by US standards (like $200 per sq. ft). Our builder would most likely be from northern Belize or Belize City, and we would need to hire a project manager to keep track of the situation while we finished working up here to pay for everything.

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eh... I worry about that part of the world. I was advised to stay clear of it. very unstable governemnt.

 

 

also resentment towards americans is running rampant in the world today. ESPECIALLY in places like central and south america.

 

I took some serious flak in australia and a little in ierland too. mexico has had its ups and downs as well. but at least there they loosened up once they realized the $$$ the local economy makes off me (nearly 100 jobs created, construction contracts, and the rest of the stuff that goes along with the park). but then again there are other americans running their business out of the same area. one in particular owns a VERY famous and successful bar. but $$$ is everything to them.

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eh... I worry about that part of the world. I was advised to stay clear of it. very unstable governemnt.

also resentment towards americans is running rampant in the world today. ESPECIALLY in places like central and south america.

 

I took some serious flak in australia and a little in ierland too. mexico has had its ups and downs as well. but at least there they loosened up once they realized the $$$ the local economy makes off me (nearly 100 jobs created, construction contracts, and the rest of the stuff that goes along with the park). but then again there are other americans running their business out of the same area. one in particular owns a VERY famous and successful bar. but $$$ is everything to them.

 

 

 

I thought about all this before deciding and am not worried about it now. Belize is an English speaking British Empire protectorant. The Government is a parlimentary democracy and nobody messes with them pretty much because England has military stationed there.

 

I have heard that in northern Belize they are getting a little restless about all the retiring baby boomers buying property there, but there is a lot of $$$ wrappe dup in all of that. This particular development will be close to 90% American/British with the rest comprised of African and Canadian residents. Thats the count from the contractor anyway.

 

It is a gated community that should be pretty self-sustaining once complete. There would be very little reason for us to go far for anything. We have the wildlife sanctuary to the West, the lagoons heading out to the Carribean to the East, and mayan ruins to hike into to the North. No worries, it will be awesome!

 

So nobody has an opinion on the internet question? Hughes doesnt have a VAR in Belize, though Im guessing its more because of the small population (whole country is only home to 250,000 residents) than anything else....

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see that's the total opposite from what I was told by the US state department when inquiring. seriously the way the girl on the phone acted you'd have thought I was asking about land purchases in bagdad. it just did not sound like a very wise move after that.

 

kidnapping of american citizens for randsom is supposedly big business down there. not something I want to get in the middle of.

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see that's the total opposite from what I was told by the US state department when inquiring. seriously the way the girl on the phone acted you'd have thought I was asking about land purchases in bagdad. it just did not sound like a very wise move after that.

 

kidnapping of american citizens for randsom is supposedly big business down there. not something I want to get in the middle of.

 

 

It is absolutely big business in Brazil. I think if you visited you would see how different it is from other central and south american countries. Completely different from Mexico. Completely different than Guatamala. Completely different than Brazil.

 

But in all fairness this is my first property investment, so Im still green on the possible risk vs. reward. I did all the research I could before deciding one way or the other.

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yeah, mexico can be bad. that's one reason for staying in the northwestern part of it.

 

 

oh well. I just hope you make the right choice there bro.

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