Buying Investments in Belize

60 Replies

Hi All, 

Has anybody made any purchases in Belize? I'm looking at a hotel development where I would buy a unit and the hotel would manage it. 

Does anybody have any experience with that kind of thing? Any experience with Ambergris Caye in Belize? 

Thanks very much, 

Jeb

Originally posted by @Jon Paszkiewicz :
@Jeb Brilliant the cayes are amazing. I would go back tomorrow. I love Belize.

Jon but would you take a boat to get to the resorts private beach? It has a full kitchen/bar and the boats go back and forth every 10 minutes or so. 

We traveled by boat from dangriga to thatch caye, seems like it took about 20 min. I didn't mind it at all. Want me to go stay and check it out for you? Lol

Lol can't go now because of Zika. Is the hotel you are looking at right on the cayes?

Originally posted by @Jon Paszkiewicz :

Lol can't go now because of Zika. Is the hotel you are looking at right on the cayes?

 It’s on Abergris Caye. 

I learned something interesting about Zika, it’s not like herpes in the sense that it’s always in your system, it’s more like the flu it a cold in that you have it and then after a period of time it leaves your system. Though with Zika it’s an extended period measured in months it’s still ok for young people like healthy children to visit affected areas with no concern it will affect their future children. 

I recently came across a company called explorebelize that is selling units in a development as well. I am still in early stages of doing research. If you don't mind sharing, what intrigued you about potentially investing in Belize? Is your vision to rent it as a STR? What have you found to be the rent projections to be in comparison to the purchase price? Thanks

I have a similar understanding of it. My wife and I are planning more kids in the near future, otherwise we would have been back. Southwest flies to Belize City city out of Houston now.

@Jeb Brilliant any luck finding information about buying and holding apts. I saw an add a while back and it intrigued me.

Hi @Ricardo Diaz I am having a really hard time finding information about occupancy rates in Belize and worse yet the associations I contacted aren't responding. 

I really like the idea behind this but must hash it out some more. 

@Jeb Brilliant I was also looking into the Dominican republic . I'm going next month and staying in an apt from Airbnb. I'm going to also aquire how the process but I've seen the apts there and it's like buying a house here.

When I looked into Belize a year or so ago, I found that financing just wasn't there, or it was crazy expensive. 50-60% down payments with 10-12% interest rates. I had visited Placencia and fell in love. But my plan to purchase and do STR's went by the wayside until I retire and have 401k available for cash purchase. Ambergris Caye is an expat haven, but it's also the most expensive area I believe. Caye Caulker might be doable, or even Placencia.

Originally posted by @Jeb Brilliant :
Originally posted by @Jon Paszkiewicz:
@Jeb Brilliant the cayes are amazing. I would go back tomorrow. I love Belize.

Jon but would you take a boat to get to the resorts private beach? It has a full kitchen/bar and the boats go back and forth every 10 minutes or so. 

That's a very popular tourism spot.  Only thing I would watch for is whether you're truly owning the property or doing a time share.  Last I checked, to purchase property in Belize the government requires you to keep a $100,000 USD balance in an account there.

Originally posted by @Jeb Brilliant :

Hi @Ricardo Diaz I am having a really hard time finding information about occupancy rates in Belize and worse yet the associations I contacted aren't responding. 

I really like the idea behind this but must hash it out some more. 

 For occupancy, go to Airbnb as if you were a guest.  Look at a hotel or rental unit near yours, check how many reviews they get per month.  Look at the calendar during the busy season (January - April) and check how many days are booked off. I did this and also spoke with local owners on one of the other islands and occupancy was 25+ nights a month.  The place we stayed was nearly booked 100% of the time.  These were "tree houses" on private property with ocean views, pricing was like $125 a night and we had our own kitchen.

To add to Dan Baker's advice, do NOT go this alone. Pay the extra fees and hire a local attorney that you can trust to guide you through the process. Not just a real estate agent, but an attorney that has done this before. International Living magazine has a ton of advice for expats on buying property abroad. 

One of my clients purchased retirement home in Belize using their IRA

Went there last February and asked about the local real estate market too. the nicer developments you were talking about seemed to be pretty empty, but I guess its just not really "hot" yet thought I expect it to be soon.

I myself stayed on san pedros in the middle of the town in an Airbnb. reasonably priced. Theres just so many old buildings that could be bought up and rehabbed, I feel like you'd have better luck doing the airbnb thing

One of my clients bought property on the ocean just outside Palencia. They built a house and two cabanas and put them all on airbnb. He said the returns have been even better than he projected. The down side was he had to fly down there every other week to make sure the contractors were actually working. It took a long time to get the work done. 

Hi Jeb - a good friend of mine lives on Ambergris Caye and works in real estate development. She may be able to help you out with more information. I love it there, but haven't invested myself due to the financing requirements. I'd be glad to connect you two if you're interested!

This post has been removed.

This thread has peaked my interest. Following!

@Dan Baker thanks I'll ask about the $100k but I'm pretty sure I would OWN the land and building on it. 

BTW GREAT idea to check AirBnB for occupancy levels. Thanks!

@Anthony Wick let's DM, I think they're setting up financing now but you have to jump through LOTS of hoops. 

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