Couverture de Episode 20: Your Belize Action Plan — Bringing It All Together

Episode 20: Your Belize Action Plan — Bringing It All Together

Episode 20: Your Belize Action Plan — Bringing It All Together

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 Episode 20: Your Belize Action Plan — Bringing It All TogetherWe've covered a lot in this series so far. Today we're bringing it together: Your action plan for moving forward with Belize real estate.Whether you're just curious or ready to buy, having a clear process saves time, money, and frustration. The main step on how David has accumulated his portfolio is action.Step 1: Get Clear on Your "Why"Before you look at a single listing, ask yourself:Why Belize specifically?Is this primarily lifestyle, income, a hedge, or some combination?What's my timeline? Am I buying this year or in five years?What's my realistic budget, including closing costs, setup, and reserves?If you can't answer these clearly, you're not ready to shop—you're ready to research.Step 2: Educate YourselfListen to this podcast seriesRead about the regionsUnderstand the buying process, costs, and structuresTalk to people who've done it—not just people selling you somethingEducation is free or cheap. Mistakes are expensive. Invest in learning first.David's mentor says: "Trust but verify." AI makes research easier, but there's a lot of old, false, or outdated information out there. Do your homework, then turn that information into questions for your trusted advisor.Step 3: Visit with IntentionWhen you come to Belize, don't just vacation—have a purpose:Visit 2-3 regions maximum (don't try to see everything)Get a feel for each locationTalk to expats, property managers, and local businessesAsk around about your trusted advisor or real estate agentLook at properties in your budget rangeExperience the area as a potential owner, not a touristVisit different times of year if possible (December is very different than August/September)A scouting trip is different from a vacation. Treat it that way. Plus, depending on your tax situation, the trip may be a tax deduction.Step 4: Build Your TeamBefore you make an offer, you should have:A knowledgeable agent who understands your goals and works for you, not a commission. (Belize has no MLS—many agents only show their own properties.)A local legal team (closing company or lawyer)An accountant who understands cross-border accountingProperty manager contactsBuilder contacts if buying a lot to buildYour team protects you from expensive mistakes. Don't cheap out here.Everyone in Belize seems to be a builder or real estate agent. Choose wisely. David's team is here to collapse timeframes—what took him 10+ years should take you a fraction of the time.Step 5: Run Your Numbers ConservativelyBefore any purchase:Model rental occupancy at 40-50% for the year with realistic ratesInclude ALL costs: closing, holding, management, reservesCalculate your real net return—not the fantasy versionStress test: Does this work if things go wrong?If it only works in a perfect scenario, keep looking. If it's half income and half lifestyle and you really like the property, move to Step 6.Want David's short-term rental spreadsheet? Email him with "spreadsheet" in the subject line.Step 6: Make an Informed OfferWhen you find the right property:Offer based on real value, not emotionInclude proper contingencies for due diligenceUse escrow and proper contractsLet your team do their job: title search, inspections, verificationDon't rush. The right deal will still be there if you take a few weeks to do it properly.Step 7: Close and Execute Your Post-Close PlanClosing isn't the finish line. Before you close, know:Who's managing the property?How are you handling accounting and taxes?What's your insurance situation?Who's your on-the-ground contact?The buyers who succeed long-term have these answers before they wire funds.Listener Question: How Long Does This Process Take?From first serious interest to closing, most buyers take 6-18 months:Research and education: 1-3 monthsScouting trips: 1-2 trips over 3-6 monthsSearching and identifying property: 1-6 monthsOffer to close: 1-3 monthsDon't rush. Use common sense. This is a long-term investment. Taking time upfront saves regrets later.You wouldn't pay a contractor 50% upfront in your home country—why do it here? Even David gets in trouble when he skips steps and gets too comfortable with contractors and managers.Final Words:Belize can be an incredible investment—for lifestyle, income, or both. But it rewards people who do the work: education, realistic expectations, proper structure, and long-term thinking.If you've listened to these episodes, you're already ahead of 90% of people who show up in Belize and start shopping blind.Take what you've learned, build your plan, and reach out when you're ready to take the next step.What's Next:That wraps up our foundational series! From here, we'll dive into specific topics, market updates, deal spotlights, and listener questions.If there's something you want us to cover, email david@1stchoicebelize.com with "podcast question" in the subject line.Connect:📧 david@1stchoicebelize.com 🏠 RE/MAX 1st Choice Belize]]>
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