Thread: Buying real estate?

How are you going to plan for buying real estate? When is the best time to buy a property?
Can you share some ideas about this?

Thank you.

First: do research. You need to know what areas of Panama are interesting to you, and you need to scout out the real estate listings there to see what people are paying.

Second: learn the laws. There are some good resources out there (we have a description of Panamanian property laws on our website). Make sure to ask the right questions to anyone showing you property - you don't want to end up with untitled land, for example.

Third: have fun. There is no "best time" to buy a property. If you find a property you like, make and offer and see what happens. If the owner thinks your offer is too low, then you'll need to balance the potential lower price of a long wait versus the possibility of having your ideal home go to another buyer.

There are plenty of more tips I can give you. If you've got any specific information that you don't want to post here, feel free to send me a direct message and we can talk about it!

Don't buy property for investment because you love it. Buy it because its expected ROI using a net income analysis is good.

Don't buy property to live in because it's a good investment. Buy it because you love it.

Don't encourage the troll by responding to his stupid question.

Sorry if you feel that's a stupid question. I just want to know more about real estate.
Thanks for those who replied my post. I really appreciate.

TOC hotel studio unit, can't go wrong.
Trump Ocean Club

Not to distract from the informative responses, but... kianricks is a paid spammer from the Philippines. He works for a Miami-based company that tries to convince Australians to invest in the US property market.

Well he is a pretty crap spammer, why would anybody pay him?

Originally Posted by EdBowers

Well he is a pretty crap spammer, why would anybody pay him?

because his boss knows less than he does LOL

I can't believe people are actually responding to the crap questions. And there are a couple other one active at the moment. Please just ignore them. When someone posts a question such as "What is a good business to invest in?" or "Where is a good place to buy real estate?", you know they are just jerking your chain.

Bicar, it's good to ignore most of them, but replying once in a while can be helpful for people who in the future might actually want to know the answer to the questions. If it doesn't take too much effort to answer, wouldn't it be helpful to just do it?

Originally Posted by wolfeflow

First: do research. You need to know what areas of Panama are interesting to you, and you need to scout out the real estate listings there to see what people are paying.

Second: learn the laws. There are some good resources out there (we have a description of Panamanian property laws on our website). Make sure to ask the right questions to anyone showing you property - you don't want to end up with untitled land, for example.

Third: have fun. There is no "best time" to buy a property. If you find a property you like, make and offer and see what happens. If the owner thinks your offer is too low, then you'll need to balance the potential lower price of a long wait versus the possibility of having your ideal home go to another buyer.

There are plenty of more tips I can give you. If you've got any specific information that you don't want to post here, feel free to send me a direct message and we can talk about it!

Scouting out real estate listings does not tell you what people are paying. It tells you what sellers are asking. I would like to know what discounts off of asking price are taking place now in sales. But I can't find that info. I do see the same houses being listed year after year and not selling. No info on what has sold and for how much. I would like to talk about it.

Panama is a horribly inefficient market with little data and price spreads of 10 to 1.

The lack of information in Panama about selling prices or even what is on the market for sale took me long time to get used to.

There is no such thing as market comparisons here.

Two pieces of property sitting side by side can sell for radically different prices - within days of each other!

The only way to find out the prices is to ask people the people involved. Then assess yourself whether they are being 100% truthful.

The bottom line: Buy a property because you love it and at price You value it at.