10 Acres Ocean front for under $10,000


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  • In Panama, many people don’t have computers so online marketing does not work very well. There is no mail delivery to your house in Panama, so I can’t use direct mail.

    Instead, I have a team of Panamanian “scouts” in various areas who are always on the look out for great deals for me. Today, I got a call from one of my scouts. An older guy has 4 hectares (1 hectare = 2.47 acres) land next to the Pacific Ocean that I can buy for just under $10,000. There is already a small house on the property with electric and water. He needs to sell to help pay for his daughter’s wedding next month.

    This is in an up and coming area with long pristine beaches, great fishing and surfing. Amazing views!! So, the best strategy would be to just hold on the land for a year or two to wait for progress to reach the area. In a year, I could subdivide in to 1/2 acre ocean front lots then sell for $35,000 to $50,000 each. This would net a $700,000 to $1,000,000 profit… all from a $10,000 investment

    Playing the real estate game is fun in Panama!

    I’ve received a ton of emails asking how to find and do deals like this in Panama if you do not live in Panama. The answer is, it is basically impossible! Deals like this would never, ever be listed on a website. You won’t find them by going through a real estate agent or consultant. There is probably no “Se Vende” (for sale) sign posted. You must be boots on the ground in Panama to find opportunities like this and you would need to develop a team of scouts who are always looking for motivated seller situations.

    Buying real estate in Panama is different than the US or Canada. But the best ways to find really motivated sellers and the absolute best opportunities anywhere is still “boots on the ground” talking to locals.

    Today, I’m looking at another opportunity up in the mountains not far from where I live.. Two houses on one property. One if finished, the other is not complete. The owner wants to move to Spain in June. I will let you know what happens with this one.

    And today, one of my scouts called about a 3 bedroom 1 bath 2 blocks to the Ocean ( Pacific side) for $7,000. Total remodel project but the bones are good. The pics looks like it could work. I will go check out next week.

    Jackie,

    WOW — great story about being ‘on-the-ground’.
    That’s a HOME RUN!

    May I suggest a Tuesday night dedicated to putting together and using a team of deal finders such as yours in Panama?
    Us gringos stuck in the US still want to do deals in our local markets. 😉

    If you’ve already done so, please let me know where I may find it on this site.

    Thanks again,

    Mike Weiss

    Hi Mike

    I’ve talked a lot about recruiting bird dogs over the last 20 years and many conference calls on CashFlowDepot. But it would not hurt to talk about that topic again.

    Today, I looked at another opportunity in the mountains where I live.. Two houses (2000sf to 2400sf) with room to build a 3rd on the same lot. They also offered me two 2015 cars for $7,000, a delivery truck for $3500 and two pizza restaurants for $30,000. They have tickets to move to Europe next week and they said PLEASE JUST MAKE US AN OFFER. One of the houses is not complete. I want to get my contractor there on Monday to take a look before I make my formal written offer – which will definitely be a low down, seller finance offer with no payments for 6 months AND a low low cash offer.

    One of my scouts sent pics of another property near the ocean. 1 block to the beach. 3/2 for $35,000 but I think I can get it for under $20,000. Needs about $5k in work.

    I think Panama prices and opportunities are what California must have been like 50-60 years ago. It’s like being a kid in a candy store! HOWEVER, you cannot just come to town to buy stuff because it takes time to know where to buy (and not buy) and it takes time to learn what the right price to pay. MLS is non-existent so there are no “comps”

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