Eight Ways to make better investments In Panama
In Panama, buying a real estate can be a rather tricky task and whether you are an expert investor or not, it is very likely that you will be wanting a good deal. However, the bitter truth is that, with the real estate market getting more and more competitive, it is becoming increasingly difficult to find that good deal.
In most cases, good deals do not last long in the market as they get sold very easily. And, also mostly, the investment is done via a broker, and since they are sold directly from the seller to the buyer, the deals sometimes do not even get listed in the public market.
Following are a few ways to maker a better investment in Panama.
1. A wise move by any investor would be to have patience. The investor should not be in a rush to make an investment; however, it definitely does not mean that you should take up a prolonged period to buy the property. You should be able to grab a deal as soon as the perfect one makes an appearance. Depending on the situation, sometimes you may have to cancel an almost done deal and sometimes you may have to confirm a deal at the very last moment.
2. A good investor knows how to sniff out a good deal. These deals are the deals that do not get public exposure, and, yes, such deals do, in fact exist. Now the question may be how to find such a deal? The answer is simple; all you need are good contacts. If you have good socializing skills, you are very likely to hear about a deal or two from gossiping with friends.
3. Time is money. As an intelligent investor, you should save up your time, and save the monotonous and laborious work for the professionals. With the help of a professional, you will not need to go door to door to check if their property is for sale, the professional will do the enquiring for you, while you spend your time on better things, such as, say, spending time relaxing on your holiday.
4. If you want to become an expert investor, you will have to do research of your own of all the agencies in Panama to find the ones that are the top sellers, as they are the ones that are the most dedicated and most experienced in the real estate market. A good way to go about doing this is to go to the agencies and talk to the managers. You may also want to look up previous clients they have served.
5. A good tip to note down is, “Never pay the asking price!” How? Just use your bargaining skills that you would probably use at a second hand shop or a flea market. You may ask for a discount up front or you may present the seller with a price proposal of your own. This works because, in most cases, the seller is willing to adjust, to make a sale, whether it may be a not so wealthy individual or a big organization. The tricky part is, you have to offer up the right figure. If you propose too less, the seller will not agree.
6. While making a deal, always use your brain and not your heart. You should be prepared to cancel on a deal at any time. Getting stuck with a bad deal due to emotional influence is not a quality that a smart investor has. Making a decision based on emotion is nothing but calling for trouble. Buy a property, only, and only if you think it is worthwhile.
7. As an investor, you should be able to make predictions as to why a deal is available in front of you and then use it to your preference. For example, you should be able to tell if the owner is in urgent need of cash or has some similar reason for which the property is being sold. In such cases, you may offer up a price that is a lot lower than the asking price. If the offer is accepted, you have yourself a good deal!
8. Any wise investor, before making an investment, can foretell the future outcome of the investment. Whereas, any ordinary investor makes the simplest and safest investments, a good investor is not afraid to use a bit of imagination and make a doubtful investment. Hence, do not be afraid to make a wild guess, only then can you find the ideal deal.
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