Why not diversify your portfolio by investing in emerging markets outside the U.S.? Don’t think luxury, ocean-front condos are only for the wealthy. You can get waterfront with just $130K, and 50% financing!
In this episode, find out how a guy from Pittsburgh, PA took a little vacation to Belize 25 years ago, loved it and bought a condo. He then bought a dilapidated resort. Now he’s one of the largest developers on the gorgeous island of Ambergris Caye, and in popular surf spot in Nicaragua.
You can download his free report on the top 10 questions to ask when buying international real estate on our Nicaragua real estate market page (be sure to sign up for a strategy session first).
- Mike talks about how he sees more and more people retiring and moving outside the US and how he got started investing in Belize. [1:06]
- Is there anything different about buying property in Belize vs the US? Consumer Resource Guide [2:50]
- “You went from a condo to buying a resort?” [5:10]
- “A true entrepreneur just dives in”. Investing as a hobby vs investing as a business. Mike explains how understanding from the beginning that “this is a business, we’re here to serve a consumer” enabled him to serve more, better, bigger and get to the other side. [5:45]
- Mike talks about his mentors on the island [6:50]
- Mike talks about tearing down his first resort to make way for his new ocean-side branded hotel [7:15]
- Mike explains how it works when you build a hotel or resort and bring in a major brand or make a franchise arrangement [8:50]
- Is it new that a hotel operator comes on but people can own individual hotel rooms? [10:50]
- Benefits of buying a unit without having a brand (buying before the brand is announced) which includes a 16% gain [11:40]
- Mike talks about what sets him apart from other developers and why due diligence is important [13:00]
- Mike talks about his experience as a developer in Nicaragua and Belize [15:35]
- How much do you think an oceanfront condo near a golf course in Nicaragua would cost? It might surprise you! [16:30]
- Kathy describes the town of San Pedro, Belize and safety vs LA [19:00]
- Belize – it’s close, it’s easy and easy to get to [21:00]
- Why Nicaragua? Nicaragua is today where Belize was 20 years ago. Nicaragua has changed in ways that are miraculous [22:00]