Overseas real estate investing is one of the methods of retirement planning that people worldwide are starting to follow. Today, we sat down with Evie Brooks, a professional who specializes in real estate in Panama.
Evie is a real estate investment educator and trainer.
In fact, she was an advanced trainer for “Rich Dad Poor Dad” before transitioning into a Panama real estate expert on properties for:
- Vacation homes
- Organic agriculture
And all her investments are 100% hands-off, so you can secure your retirement with your money instead of working even harder.
Why Panama is Such a Great Place to Invest
Before we went any further, we wanted to ask Evie one question that was on our minds – and is probably on your mind right now. Why is Panama a good place to invest?
After researching many different countries, Panama was Evie’s main choice because:
- Since 2008, the GDP growth averaged over 6% and rose to over 11%.
- The Panama Canal is crucial to worldwide trade, and these trade routes will continue helping the country spur growth.
- Copper mines were discovered, and they started being mined before COVID. It’s expected that in the next 40 years, these mines will generate more revenue than the Panama Canal.
Panama has a booming opportunity, and with this growth, more people are going to be buying automobiles, homes, and other goods.
Healthcare in Panama
Panama is working on medical tourism, too. The country’s robust healthcare and dental care sector offers top-tier care at prices far more affordable than in the United States. There are two John Hopkin’s affiliated hospitals in Panama, so you know the healthcare is good.
For the same services, you pay 20% to 25% of what you would in the US in Panama.
You can also pay for international health insurance plans if you do travel a lot and want to go to Panama and other countries.
So, healthcare is just another reason that people are investing in Panama. Soaring prices around the world are helping drive this new form of tourism in Panama, making it an excellent choice for investors who want to get in on the “boom.”
How to Begin Investing in Panama
Panama offers an abundance of investment opportunities, including:
- Long-term rental properties
- Short-term rental properties
- Pre-construction opportunities
- Government-subsidized programs
When speaking about government-subsidized programs, many people don’t know what this means. Here’s an example: Panama’s government is building 150,000 small homes for locals. Up-and-coming residents can enter these homes with rates of 2% or less and just $500 down.
The government is subsidizing developers to build these properties to help younger generations get into their homes.
Evie tells us that for $50,000 to $65,000, you can invest in these government programs and get an 11% return on your investment. And the investment is only held for two years. You receive payments twice a year on these properties.
Additionally, there are other projects with 20% to 30% returns.
Evie helps investors learn how to invest in Panama in as easy of a way as possible. Her company can even help you get your visa to enter the country.
How Do You Know If Investing in Panama is for You?
We know that investing in real estate takes a certain level of trust. There’s a good chance that you don’t know much about Panama’s market unless you live there. However, that doesn’t mean that you should miss out on the potential opportunities that investors have in the country.
A few ways to get comfortable with investing in Panama are:
- Work with a company like Evie’s, which offers private tours
- Go to the country yourself
Most of Evie’s clients are expats, people considering moving to Panama, or clients who want to diversify their portfolios.
Since COVID, many people are starting to diversify their portfolios, and investing in Panama is one option that many people are adding to their investment portfolios. Figuring out how to invest in Panama is complex.
Evie’s company has deals with developers through her program, which means that anyone who works through her company gets outrageous investment deals.
Panama also has the US dollar, so that’s also comforting for a lot of investors to know.
Relocating to Panama as Part of Your Strategy to Secure Your Retirement
Retirement planning can take many turns, and one of those turns is relocation. The United States is expensive, and as we’ve seen with just healthcare, relocating to a place like Panama may be in your best interest.
Evie states that most residents of Panama can live on a shoestring budget, and you can do this, too.
From homes for $175,000 to beach homes worth millions of dollars, Panama offers everything. Many people live very nicely on $2,000 to $2,500 per month. When comparing prices to the US and Canada, you’ll pay three to five times less in most cases.
And as part of your retirement planning, you can invest in many of the properties that others are buying when they move to the country.
If you want to learn more about Evie Brooks and her business, we encourage you to visit her official website or My Panama Vacation Realty.
Final Thoughts
Investing in Panama, or any foreign real estate, may be a good option for your investment portfolio. Accumulating assets, especially if they’re income-generating rentals, will allow you to diversify your investment portfolio and benefit from Panama’s high GDP growth rate.
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