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Property Investments In Panama, Ecuador, And The Dominican Republic

Kathleen Peddicord by Kathleen Peddicord
Mar 25, 2015
in Dominican Republic, Ecuador, Panama, Real Estate
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property Investments in latin america
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Greatest Successes, Biggest Failures—Confessions Of Two Global Property Pros

“I just want to tell you how much I appreciate what you and Lief have done here. To pull all of this together. I went back to my room last night, and my head was swimming. So much to process. So much opportunity. And it’s all thanks to you and Lief that I now have access to it…”

–An attendee at last week’s Global Property Summit

Our first morning together for last week’s Global Property Summit in Panama City, I asked our two key panelists two pointed questions. Specifically, I wanted to know:

Q: “What’s the biggest investment success of your career to date… and what’s been your biggest failure?”

Lee Harrison: My biggest failure was the first property I bought, in Cuenca, Ecuador, about 13 years ago. I negotiated way down from the asking price and thought I was getting a great deal. I wasn’t. The country had just dollarized, and nobody on the ground knew what anything was worth. I sold three years after buying for US$25,000 less than I’d paid. I simply didn’t understand the dynamics of the market.

My best ongoing success is Medellín, where I’m seeing great net returns from two rental apartments.

The appreciation success that stands out in my mind was in Brazil, where I bought a beach house and then sold it six months later for 78% more than I’d paid. That’s exciting… to be able to pocket profits like that in less than a year.

Lief Simon: The successes tend to fade faster than the failures. When I think back over my career buying and selling, it’s the failures that come to mind first. Direct investments with developers can be risky, and I’ve had a couple of those kinds of investments go bad. However, my biggest disaster investment was a pre-construction purchase in Newcastle in 2005. The rental market there fell out completely. I made the mistake of making this investment based solely on the recommendation of a colleague. Had I looked at the market myself, I never would have invested.

My first pre-construction purchase in Spain was a textbook success. I sold the contract for the unit I’d bought 20 months after signing, before I had to take possession. I didn’t have to come up with the final balloon payment, and I banked annualized returns of 35% over the period I held the asset.

Q: “If you were starting out today,” I wondered next, “what would you buy? That is, what would you recommend to someone looking to make a first purchase in 2015?”

Lee Harrison: I’d buy a rental apartment in Cuenca. You can buy a rentable property for less than US$100,000, and you can expect a net yield of at least 10% per year. Plus you’ll see some steady appreciation in the value of the property year on year.

Lief Simon: If I were making a first buy today, I’d focus on agriculture. You can buy into a turn-key investment for less than US$50,000. The mango plantation in Panama that we’ve been speaking about has a minimum buy-in of only US$36,500. You’d begin seeing a return in year four, and over the lifetime of the investment you’re looking at an average annualized return of 17% over 20 years.

My second purchase would be a beach rental in Las Terrenas in the Dominican Republic. Because it’s possible for nonresident foreigners to borrow locally to purchase real estate in the Dominican Republic, you could get into this market with as little as US$50,000. As Lee suggests for Cuenca, you’re looking at cash flow of 10% net per year at least and steady appreciation in the value of the apartment. I’ve been watching the DR for more than 10 years. This is the year to buy here, and Las Terrenas, specifically, is the spot.

Kathleen Peddicord

Editor’s Note: Today is your last chance to access the recordings from last week’s Global Property Summit at the 60% off, pre-release discount. After midnight tonight, you’ll pay full price.

Continue Reading: IRS Filing Requirements For U.S. Versus Non-U.S. Corporations

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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