International Real Estate Investing

Q & A With Gary North
(Originally published on 3/30/06)

Age: 47; occupation: physician; assets: town home in NZ, paid for. Home in NY, paid for. Lake home in NY, owing 120k. Retirement savings: $900 K in Vanguard.

I want to sell NY lake place and buy a place in Panama. Wife reluctant. Good or bad idea?

You must find a way to manage that property at a great distance. Line this up first. You must go to Panama and shop for property. This will take time out of your practice. Factor in this loss.

Are you satisfied with Panama's legal structure? Do you have an attorney there? Wherever you buy, you will need counsel. Why Panama? Why not anywhere else in Central America? Do you expect appreciation in repatriated money? That is, do you expect Panama's currency to appreciate against the U.S. dollar?

Do you expect to move there some day? Or to New Zealand? Are these just non-dollar investments? Canada is closer.

My friend Gary A. Scott is an investor in Latin American real estate. He also knows how to make money in foreign currencies. Contact him. He runs seminars in Ecuador and other Latin American countries. Attend one of his off-shore seminars. There may be much better opportunities than Panama.

More information about International Real Estate Investing from Gary Scott.