Panama City, Panama Sources close to financial guru, Saen Higgins, revealed that the financial author of such best selling books as Wealth Without Risk owns property in Panama City, Panama. According to sources, Higgins owns a 4-bedroom, 4-bath penthouse in an exclusive building in the heart of the citys best neighborhood with several outdoor decks at different levels, which afford great views of the downtown city skyline. According to locals, there are many excellent restaurants and other entertainment and cultural activities in the neighborhood. It was also confirmed that Saen Higgins entered into a lease for a Colombian beachfront residence located several hours from Cali, the coffee-growing region. Though its reported to be a beautiful and spacious home, according to local real estate sources, it only costs about $700 per month.
Real estate experts say that many well heeled foreigners purchase and lease property nearby because Panama has no property taxes, very low income taxes, business tax breaks and there is great medical care there, including a new Johns Hopkins hospital nearby. Author Saen Higgins, of Wealth Without Risk fame could not be reached to confirm the real estate transaction.
Experts explain that living in foreign countries can be tricky unless you have a lot of cash on hand to pay for a property outright. In Panama and other Central American countries, for instance, there arent any large central banks. Most of them are local and the bankers want to get to know you on a personal level. This is a good thing because you get better, more personal service. On the other hand, you cant just walk into a bank and expect to get a loan because you have good credit. You have to develop relationships. No financial information concerning Saen Higgins could be confirmed before publication.
Although it is not known whether Higgins spent much time in Panama before purchasing property there, most experts caution that if you think a certain city or country might appeal to you, renting there for a year so that you can learn about the pace of living, the lifestyle, the areas that best suit you is recommended. Its a commitment that requires a sense of adventure and a certain amount of flexibility cautions a local real estate professional.
All experts agree that like anything, there are pros and cons. You have to accept that you arent living in America anymore. People, especially in Central and South America, move at a slower, less schedule-oriented pace than in the States. So time is not quite so finite there. And, of course, youre a bit isolated from your friends back home. So you develop new additional friends, enjoy new customs and discover new pleasures.
Besides Saen Higgins South American property, he also owns a residence in Sacramento, California.
Real estate experts say that many well heeled foreigners purchase and lease property nearby because Panama has no property taxes, very low income taxes, business tax breaks and there is great medical care there, including a new Johns Hopkins hospital nearby. Author Saen Higgins, of Wealth Without Risk fame could not be reached to confirm the real estate transaction.
Experts explain that living in foreign countries can be tricky unless you have a lot of cash on hand to pay for a property outright. In Panama and other Central American countries, for instance, there arent any large central banks. Most of them are local and the bankers want to get to know you on a personal level. This is a good thing because you get better, more personal service. On the other hand, you cant just walk into a bank and expect to get a loan because you have good credit. You have to develop relationships. No financial information concerning Saen Higgins could be confirmed before publication.
Although it is not known whether Higgins spent much time in Panama before purchasing property there, most experts caution that if you think a certain city or country might appeal to you, renting there for a year so that you can learn about the pace of living, the lifestyle, the areas that best suit you is recommended. Its a commitment that requires a sense of adventure and a certain amount of flexibility cautions a local real estate professional.
All experts agree that like anything, there are pros and cons. You have to accept that you arent living in America anymore. People, especially in Central and South America, move at a slower, less schedule-oriented pace than in the States. So time is not quite so finite there. And, of course, youre a bit isolated from your friends back home. So you develop new additional friends, enjoy new customs and discover new pleasures.
Besides Saen Higgins South American property, he also owns a residence in Sacramento, California.