Savannah, Georgia. 75 degrees. There’s warm sun, a light breeze, and that fresh, cool air that makes you want to stroll through its old oak-lined squares.
I’ve been here a few days, speaking at an Oxford Club conference at the historic Hotel Bardo. A good number of people in the room were members of my Real Estate Trend Alert group, or RETA for short. It was a real pleasure to meet so many of them face to face.
Tomorrow, though, I’m back on the road.
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I’m heading to the airport first thing to start a two-and-a-half-week scouting trip that will take me to Panama City and then on to Uruguay.
This is what I do…
For more than two decades, I’ve been a full-time international real estate investor and scout. I founded RETA over 18 years ago to bring together like-minded people who see the incredible opportunities in overseas real estate. And I use the collective-buying power of RETA to negotiate “off-market” deals with developers, so members can get in first, at exclusive pricing.
Go forth. Find opportunity. That’s my mission.
That’s why I’m heading back to Panama and Uruguay…
Opportunities For Those Who Know Where To Look
Panama City is a place I know well. I’ve been scouting it since the earliest days of my career. This is where I made my first overseas real estate purchase, more than two decades ago.
But I’ve never been so excited by the opportunity in Panama City as I am today.
This is emerging as one of the great world cities. It’s an internationalized destination drawing people and wealth from around the globe—a kind of “Singapore of the Americas.” And it’s one of the best-connected destinations in the region.
Case in point…
There’s no direct flight from Savannah to Panama, but I’m still due to land at Panama City’s Tocumen airport by 1 p.m. and be at my base at Santa Maria by 1:30 p.m. Not bad for a morning's travel that starts in Georgia.
Santa Maria is familiar ground.
This master-planned community is a 700-acre reserve of luxury at the edge of Panama City, anchored by a five-star Marriott Luxury Collection hotel and the Santa Maria Country Club.
Santa Maria is where we hosted our annual RETA Lifetime members in-person meetup, The Gathering, this year. And it’s where we’ll gather again next year.
Panama is booming…
From my base in Santa Maria, I’ll be checking in on prior RETA members-only deals in Panama City, including opportunities to own on the man-made islands of Ocean Reef and inside Santa Maria itself.
A few examples of those deals…
In September 2021, RETA members could buy spacious three-bed condos in Pinnacle, within Santa Maria, from $540,020. By 2024, these and similar condos were listed at $668,000 to $695,000. That's $128,000 to $155,000 more.
In June 2019 and again in June 2021, I brought RETA members the chance to own ocean-view condos in Seascape on Ocean Reef from $783,000. In 2022 a condo in Seascape listed for $995,000. That's an uplift of $212,000.
I want to see how each of these communities is progressing and importantly, what’s happening in the wider market around them.
Because right now, Panama is booming…
When the world gets volatile, money and people flood into Panama City, and that’s exactly what I’m seeing now.
The shine has worn off places like Dubai, and Panama has stepped into the spotlight.
Panama City offers a combination that's hard to beat: attractive tax policies, established banking and financial services, excellent international connections, and a genuinely cosmopolitan lifestyle.
For People Who Want to Internationalize Their Lives
It's becoming a magnet for people who want to internationalize their lives. And that influx of people and money is creating incredible opportunities.
What I’m most excited about for this trip is walking the land at Ipanema…
This is the landmark community on the last prime waterfront land beside Costa del Este—the sought-after neighborhood of Panama City where many multinationals have their regional headquarters.
Last month, RETA members got in here at exclusive pricing from just $375,912 for luxurious two-bed condos. I figure they’ll be worth $600,000 five years after delivery. That's a gain of $224,088. I bought in this deal alongside RETA members—my first Panama purchase in more than 20 years.
Since we launched it, word of the off-market pricing RETA locked in has spread through the local broker community and caused quite a stir.
Now the developer Alfredo Aleman and his GLP group are gearing up for the public launch, and I’ll be in town as it approaches.
That’s one of my favorite situations to be in. I get to watch the whole local machinery of brokers, marketing and buzz crank into gear for a launch RETA members have already gotten in ahead of.
I’m also looking further down the road…
Deals like Ipanema, or what we did on the islands, don’t come around twice. But Panama is a story that will play out over decades, and I want to understand where it’s heading over the next three, five and ten years so we’re ready when the next opening appears.
Finding that next opportunity is the reason trips like this exist.
There’s a personal side to this trip, too.
I see Panama playing a far bigger part in my life over the next decade than it has in the last one.
A decade ago, I got Panama permanent residency. It was a clean, easy process. Now it’s time to renew. On Thursday morning, I’ll head to the immigration office with a member of my lawyer’s team. I’m told to allow 20 minutes. That’s extraordinarily efficient.
I’m also opening new bank accounts. And I’ve set up a Panama corporation. For the first time, I’ll be buying and holding real estate through a Panama company, for Ipanema and for a number of future investments.
My lawyer and his team did all the work. That’s one of the things I love about Panama. With the right help, the bureaucracy is remarkably smooth.
Then for the weekend, I’m heading up into the highlands, to Panama’s cloud forest for hiking and butterflies.
I could have chilled on the beach on Isla Contadora or at Playa Caracol, or gone deep into the wilds of the Darién Gap. This time I chose cloud forests. That’s Panama for you: a buzzing world city, incredible beaches, and mountain nature, all on your doorstep.
Real estate scouting, residency, banking, a new corporation and a weekend in the mountains, all squeezed into five days. That’s the scale and efficiency of Panama.
After Panama, I’ll be going to scout Uruguay, where I may be closing in on a new RETA members-only deal. This would be a chance to own on the most prestigious coastline in South America at off-market pricing.
I have a busy few weeks ahead. And I'll be sharing what I find with you along the way.
More soon…
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