renting homes for income/residency?

fishy · 02-01-2008

Would I be able to purchase a home(s) for $200,000 (outright-no mortgage)and rent them to take care of my investment/income needs for residency?

Bellepoque · 02-02-2008

Two years ago we bought a home in Panama and rented it for the months that we would be traveling. We found a repeat renter with excellent credentials and we had no problems. We just sold that house and the new buyer will do the same with the same renter.

Now, this worked for us and I would highly recommend that you use a very good attorney in Panama (which we did) to structure your real estate purchase and any residency matters.

Hope this is helpful to your process.

MichaelJamesPorter · 03-19-2008

Many buy and rent to care for their needs. There are some that rent out a house to vacationers since it is much more profitable than renting out locally. But there a pros and cons to weigh out. As always, get real legal advice.