BELIZE PROPERTY OWNERS?

Question

My wife and I purchased some land on Ambergris Caye about 10 years ago and are looking to begin some sort of development in the near future. Looking to see if there are any words of wisdom or experiences that you would be willing to share? Thank you in advance!!

Edwin Varela · Answer

Hi David!

How has your experience in Belize been so far?  I'm a little late to the forum, but I'm very new to BP. I hope that your journey here in Belize has been going well. Let me know if you're getting around or if you need help with anything here. I'm a local RE broker and land developer here and would love to help you on your journey.

Brad Stegall · Answer

What did you end up doing with the property in Belize??

Ken Latchers · Answer

There was a guy in Panama who lived there recently bemoaning  how little he was getting for his Airbnb

With what you were describing above, you may be headed for the mistake of your life

I bought a large multi-family in TN from someone in North Ireland a few years ago. He couldn't get rid of it fast enough.

The applicable term is Fools Rush In Where Angels Fear To Tread

Clear??

Michael Baum · Answer

@Ken Latchers has a point. There are challenges to running one here in the states, especially if you are starting from scratch and have never done it. Starting from scratch with a bare lot....well that is something different.

I have heard Ambergris Caye is pretty cool but you have to check the market. One thing going for you is they is the US dollar. Makes it easy to transact.

You have to research the area. See what’s legal and how crime is. See what others are charging to get a baseline.

Ken Latchers · Answer

Yes. Don't start a vacation rental in another country unless you are an expert at running vacation rentals and at managing properties in other countries