We came down to Ambergris Caye in 2000. We came back in 2001. We decided to purchase a small, unique property in a small condominium complex that had just come up for sale. We thought of it as only a "Jumping off point" should we decide to retire in Belize. It was reasonably lucrative and we liked and trusted the developer. He had the condo next door and lived there. We made a decent amount of rental cash with the one Condo and enjoyed free lodging for our 2 vacations a year. The developer decided to expand and build another resort North of the cut. At that time it was a hand ferry to get across and we bought another unit there pre-construction. We were required to purchase a furniture package.

Long story short...We became Me. I inherited the Belize (fully paid for) properties as part of a divorce settlement. Enter...2008. After my divorce I listed both properties for sale at the then FMV which was higher than my basis in the properties. I was able to sell property one (the small resort) for a small gain. The second property I did not even break even and it took over 5 years to sell due to the proliferation of other listings of similar properties on the island.

Prior to my final sale, US banking law changed. I could no longer bring back a check for my rental proceeds in US Dollars. I had to got through a bunch of hoops to open a bank account locally and big IF..the bank could disperse US funds, I could take them home. It turns out none of that mattered because the property sold just before I could set up a US dollar bank account. Now the rental proceeds are in limbo unless I use them there or wait. I waited and am using them at the same resort. After which, I can receive the remaining balance in the rental income of my already sold property through a new arrangement.

Do check out the banking laws. Do consider your personal use of the property. Do consider the current market. Do conisider your management company and the two year history of rental income. Do consider your own willingness to have a long term relationship with Belize.