Before jumping into this particular idea, you need to understand the difference between income and wealth, because they are not inherently the same thing. Essentially, income is the money you earn, and wealth is the money you keep. For example, someone who makes a six-figure income is not necessarily wealthy because they might spend all their income. On the opposite side of that, someone can become wealthy without bringing in a large income by saving.

So here’s how it works when you’re trying to become wealthy with real estate in Panama. The trick is to recognize that it’s not a get rich scheme. The plan is based on a book by Gary Keller called “The Millionaire Real Estate Investor”. The idea is that you start with a mortgage on your personal residence. You pay each month the regular payment, and any extra amount that you can afford. Once that is paid off, you invest in another property and start paying that mortgage, and use a renter. The money you previously used to pay your old mortgage on your personal residence will goes towards the current mortgage on the investment property, plus the renter will be paying what should be an amount equal to or greater than your mortgage payments. Therefore, you should be able to pay off this property twice as fast.

Now, after the second mortgage on your investment property is paid off, now you can repeat the process with another piece of real estate in Panama. With this process, you will be able to own several pieces of real estate in Panama over time, without paying astronomical amounts of money all at once to own them.

What’s special about going through this process with real estate in Panama is that Panama’s real estate market is heading in the right direction. Therefore, once you’ve paid off your mortgage, you’re basically going to be sitting on a piece of real estate in Panama that will be getting more valuable by the second. The more pieces of real estate in Panama you have, the more your potential wealth will increase. You can use these properties to continue to rent out, and generate more income that you can turn into wealth by purchasing more real estate in Panama.

Now this may have sounds a bit too easy, but really if you do your research, save your money, and manage your mortgages correctly, buying real estate in Panama can really be an easy, yet long term way to gain wealth. Also, let’s not forget that you can have fun on your pieces of real estate in Panama because they will be located in places like the highlands of Panama, or the beautiful beaches along the ocean. All in all, it’s a very good situation for buying real estate in Panama.

Learn more information about real estate in Panama by checking out some articles on real estate in Panama throughout this site.