Referred to as “Mother Nature’s Best Kept Secret,” Belize truly is an exotic, tropical paradise on the Caribbean Sea. Belize is home to ancient ruins, thriving jungles, the world’s second largest barrier reef, perfect for snorkeling and scuba diving – and making things easy for expats and travelers from the US, English is the official language.
The diverse geography, flora and fauna, spectacular reefs, comfortable climate, and intriguing Mayan culture make Belize a destination that appeals to those who seek a reasonably priced life-style that also provides major amenities and infrastructure that they have come to expect. Many well-traveled people have commented that Belize offers an eco-tourism experience similar to Costa Rica, it just happens to be much closer to the US.
As a result of the recent tourism boom in Belize, Ambergris Caye, measuring 25 miles long and 1 mile wide, and located a mere 13 minute flight from Belize City, has been experiencing progressive growth as well. This island is located northeast of the country in the beautiful Caribbean waters, and within sight of the barrier reef. Islands Magazine in 2012 ranked Ambergris Caye as one of the Top 10 Islands to Live. “The budget-friendly properties available a few flip-flop steps away from the beach, an exuberant expat community and the vibrant streets of San Pedro earned this Central American island a place on our list”, they commented. Likewise, CNNMoney listed Ambergris Caye as one of six “hot” locations that was destined to become a popular second-home location overseas.
The sustained growth on Ambergris Caye spawned many new developments in the market, offering buyers and investors a broad range of units, locations and price ranges from which to choose. Despite the 2007/2008 mortgage crisis in the USA, properties under $400,000 have continued to sell briskly in Ambergris Caye and San Pedro Town.Undeveloped beachfront property in San Pedro, in particular, has become a scarce commodity, consistently putting pricing pressure not only on beach properties, but also the off-beach properties. Grand Baymen, developed by ECI Development, who for 15 years has created socially responsible properties in Nicaragua, Costa Rica and Panama, fills a unique market niche, providing a reasonably-priced modern gated community for conservative investors and possible expats who are looking to make a solid investment abroad.
They are offering condos at an affordable $119,900US, perfect for retirees or for people who are looking to have a second home abroad. Owners and renters have access to numerous amenities, such as a 3-tiered pool at the Baymen Gardens, fitness classes, tennis courts, and personal training at the San Pedro Fitness Club, and beach access, dock access, and a dive shop at the Exotic Caye Beach resort. For more detailed info on amenities, you can get in touch with http://belizetravelandbusiness.com/.
But enough with the blah, blah, blah, right? I am sure what you really want to know about is that part about your mortgage being paid and a guaranteed extra monthly income the first 3 years. So, okay, understood.I will get to it…
It’s actually quite simple. Buy a brand-new, fully-furnished, 1-bedroom, 412 ft2 condo in the Grand Baymen development offered at $119,900 with an initial amount of $23,980 (20%) down plus a furniture package of $8,000. This leaves a mortgage of $95,920 at 10% interest (principal + interest = $842 per month, $10,101 per year) amortized over 30 years.
The terms are as follows: Grand Baymen will lease your condo from you for $1,250 per month for 3 consecutive years. They then put it in their rental pool. During this time, Grand Baymen will handle all of your administrative tasks, including paying your mortgage ($842/month), condo fees, insurance, and taxes ($140/month), for a total of $982 in expenses per month. After all fees under the lease are paid, the remaining balance, $268/month profit will be yours for the taking, no matter if Grand Baymen rents out your condo or not – that burden and risk falls on their shoulders, not yours. Your expenses are covered for the first three years, no matter what happens in the rental market. If you would rather own the condo outright without having a mortgage, pay the total amount of $119,900, and they will still lease your condo from you for $1,250/month. That money will go straight to you.
In addition…yes, the deal gets even sweeter…for each referral you make to the Grand Baymenreservations department for either your condo or any other condo in the development, Grand Baymen will credit you depending on how many room nights you refer per year. You will be credited 35% of the booking price to the principal balance of your loan, up to 100 room nights. The credits increase to 40% for room nights 101-125, and 45% for room nights 126-150. Grand Baymen will credit 50% for every referral for room nights over 150 nights! This offer does not expire after the initial three years, you could technically continue with this until the condo is paid in full from referrals.
You may think that reaching the 50% of bookings level or even higher may be difficult, but it’s actually as easy as referring three 10-room dive groups per year. Think about it, 10 rooms x 7 nights = 70 room nights x 3 groups = 210 room nights. Dive shops are always looking for a new reef to dive and Belize does have the longest reef system in the western hemisphere, and second longest in the world! Many agents book 4, 5, 6 dive groups per year. Imagine how quickly your condo could be paid off – and the cash flow comes straight to you after that!
Do your due diligence, of course, but if this is something that interests you, act on it. ECI’s other developments abroad have been wildly successful, and this development will sell out, especially with these friendly terms. To see floor plans, or for more info on Belize or any other detailed info on the program, please connect with http://belizetravelandbusiness.com/.