According to Adrian Velasquez Jose Figueroa, buying property in Panama shouldn’t be seen as a passive investment. Unless requesting services from a rental or property management company, the process can be challenging and occasionally time-consuming. However, owning a residential property can provide both short and long term income.
Being educated about the rental market and real estate in Panama is necessary because the biggest challenge is buying the right property in order to avoid mistakes on adrianjosevelasquezfigueroa.com.
Follow these simple steps to get closer to becoming a profitable real estate investor.
1. Buy below market values
When buying property for rent, you need to ensure purchasing the property at a low enough price to make a profit, taking into account mortgage payments, repairs, maintenance, etc.
A purchase amount below market values also helps withstand market fluctuations.
It’s best to consult a broker knowledgeable of real estate costs in Panama. Also, check the real estate classifieds in Panama and conduct your own research on rental demand and profit margins.
2. Choose the right neighborhood
Panama has a broad market for medium and high-end condominiums in the city. However, there are rental properties on beaches, islands, and mountains as well.
Panama City has the highest rental property demands but is also more expensive according to Adrián José Velasquez Figueroa. In Panama City, most high-end condos are aimed at foreign tourists, immigrants, executives, and entrepreneurs seeking short-term accommodations. The market for long-term rentals still exists but is not as common. For this, midrange neighborhoods like El Cangrejo are best.
3. Be aware of Panama’s rental laws
Familiarize yourself with relevant rental real estate laws in Panama.
4. Make sure services are available
Be aware of which services and amenities your tenants will have access to like parking, pool, gym, security, etc.
5. Inspect the quality of construction
In Panama, building quality varies greatly. Even in newer condominiums, developers can skimp on production resulting in poor-quality labor.
Buying a home or condominium in need of repairs can work well under the right market conditions. Seek the services of a licensed housing inspector before investing in a property.
6. Manage rental property
If you don’t plan to live full-time in Panama you’ll need to consider property management. Decide if you want a company or a person to be responsible for administration. Property management companies can provide services ranging from marketing to cleaning.
7. Something big isn’t always better
Analyze the market before buying a bigger property. Something you are unable to rent the property for a cost proportional to its size. The number of bedrooms, bathrooms, kitchen appliances, etc, are more important than square footage.
8. Public services can increase
Public services costs can vary significantly from one tenant to another. Insist that your tenant put these services, like electricity, under their own name so that they alone are responsible for the bill.
About Adrian Jose Velasquez Figueroa
Adrián José Velásquez Figueroa, a Venezuelan native, has been a leading member of the business community in Panama, helping businesses grow, mentoring young leaders, and improving economic conditions. Figueroa is greatly concerned with the well-being of the country.
Mr. Velasquez Figueroa is a professional executive who currently holds three different positions as Treasurer, Director, and President in five companies in Panama, holding the longest position since 2011.
Enjoy vacation even more with an apartment in London
Every year London sees thousands of tourists from across the world come to visit the city’s beautiful architecture and rich history. From the Big Ben clock tower to the Buckingham Palace, there are pubs, museums, parks and so much more to experience in thsi great city. However, there are always ways in which a vacation can be taken to the next level to really enjoy the adventure. Renting an apartment in London can provide tourists the opportunity to experience the city much differently and more intensley than most visitors are able.
Staying in an apartment gives tourists several advantages and perks that would otherwise go unaccounted for in normal hotels or hostels. For one, it can be cheaper to stay in an apartment for a longer period of time, especially when you are traveling with a large family or group of friends. With having your own apartment, you don’t have to worry about curfews or privacy either. Perhaps the most exciting perk is being able to experience London like an actual citizen. When you rent an apartment, it will be as if you are a resident of the city.
Two great resources for finding and booking apartments for your stay in London are worldescape.com as well as londonescape.com. Make sure you specify your days of travel and specific locations if you have any preferences. The process is well laid out and simple to follow. The websites offer excellent choices and several options to choose from. They even offer an option to search for apartments by neighborhood if you know where you would like to stay. They are a family owned company that has been in business for several years. The deals are excellent and the customer service is more than happy to help you with any questions you may have. Don’t waste another minute trying to choose a hotel. Stay in an apartment in London and enjoy your stay even more.
Escape to London to a rental
When most people begin the process of booking a rental, they immediately begin a search on a search engine and click through various websites. Well, now you do not have to do that because there is a website that you will never have to go through a search engine to book your London trip. Londonescape.com is the perfect site to find London rentals because the website has everything well organized and categorized. This website is great because they know all of the essential info about the rentals that they put on their site. They have all of the rentals that are rated the best in London, and all you have to do is choose one.
A rental that is a feature on this site is the Simply Sheek Apartment. Guest will be able to enjoy rooms that are both comfy and luxurious. The Simply Sheek apartment comes loaded with a fabulous pool and a full stay of the art gym. Guest can also enjoy the quick access to Bond Street, which have some of the greatest shopping malls, and the West End theater are nearby. Guest can also enjoy amenities such as Wifi, private parking, patio, and much more.
Another great rental that is listed on this site is the Bright and Modern Duplex. If you are the kind of person that enjoy a warm and welcoming place, then this is the rental for you. The greatest thing about this place is its location. There is a 5-25 minute walking distance to The Big Ben, Oxford Circuit for shopping, London Eye, Hyde Park, and Waterloo just to name a few.
LondonEscape.com have many other great rentals just like these on their site. You are going to wish that you have foud this site sooner because it certainly make the booking process less stressful. When you are ready to make your escape to London. LondonEscape is the perfect site to make that happen.
Best Places to Stay in London
If individuals are looking for a place that is right near London’s great attractions then 51 Buckingham Gate is the perfect place to stay. This hotel is only five minutes away from Buckingham Place on foot. It’s also just as close to Westminster Abbey and Parliament. It offers apartments as well as suites with kitchens. It has three different restaurants and offers room service. A two bedroom apartment costs 440 Euro a night.
Dukes Hotel is another great place to stay in London. Individuals looking for a high class hotel should look no further than Dukes. This wonderful hotel is located on St. Jame’s street in a courtyard. It offers maids and even butlers. The penthouse suite is a must visit since it has views that overlook Buckingham palace.
Individuals looking for a small yet contemporary feel should check out Rough Luxe Hotel in King’s Cross. This hotel features contemporary art such as lamps that are custom made. This hotel is known for its wonderful breakfast that includes toast, yogurt, eggs, homemade jams, and more. Individuals can even order afternoon tea. The rates of this hotel start at 155 euro.
If it’s still hard to find a London vacation rental, check out LondonEscape. This site allows users to easily search many different locations in London to stay. Individuals can type in their check in and check out dates, the amount of guests, and press search to find tons of different properties available. It lists all the amenities as well as clearly states the room rates. Individuals can even narrow their search by different factors such as number of bathrooms, area they want to stay, property type, price range, amenities, and more. LondonEscape is a great place to find an excellent property for every visit to London.
With so many places to stay in London in can be overwhelming to find just the right property. However, by staying at one of these great hotels individuals can ensure they have a great time. Using LondonEscape makes it easy to find other properties in the area that will make for a great stay.