Panama repossessed property
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Panama repossessed property
Thinking about investing offshore? Thinking of investing in Latin America as a place where the middle class is growing and not shrinking? You do not need to be fluent in Spanish or even live in Latin America in order to profit from investments south of the Rio Grande. But it helps to deal with these who are familiar with the culture, the business climate, investments, and Spanish when investing in Latin America. This article deals with a specific investment opportunity in the country of Panama. Panama repossessed property can be a very profitable investment. Investors can benefit from buying properties that are only distressed in a financial sense putting them back on the market and selling at a healthy profit. Investors can also hold the property and gain long term rental income. Here are a few thoughts about Panama repossessed property but first where and what is Panama?
Panama is the last country in Central America before South America. It is the narrowest part of the Americas, an isthmus, which is largely why the fifty mile long Panama Canal is there. Panama is a trade nexus due to the Panama Canal and its location at the junction of the Americas. It has a strong banking system, successful insurance industry, and healthy tourism due to its tropical location and first world capital city. Panama grew as fast as China during the first years of the century and never had a recession (growth rate fell to three percent) as North America, Europe, and the rest experienced the worst recession in three quarters of a century. Panama is a successful and increasingly prosperous country. The Panama Canal will soon have a new and larger set of locks allowing huge vessels to pass and increasing traffic and profits. The capital city is putting in a subway system to alleviate traffic congestion and the skyscrapers never quit rising when everyone else’s economy was in the doldrums. Nevertheless, even in good times there are business failures, people who buy too big of a house, or other reasons why home and business property are repossessed. Panama repossessed property spells opportunity for smart investors.
Investing in Property in Panama
Panama is a business friendly country. Although a lot of English is spoken in Panama it is still a Latin culture and a Spanish speaking country. It is absolutely possible to set up a business in Panama, hire Panamanian employees, and meet payroll twice a month. It is also absolutely possible to look at properties along the soon to be completed Metro Line 1 in Panama City, Panama and pick up reasonably priced properties, build or remodel and collect rent checks. Those who like spending their free time fishing in some of the best sport fishing waters in the world, the west coast of Panama, may choose the later course.
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