I bought a house, then less than a year later I bought a rental unit in a very nice hotel to be used as income property. So far, one property has almost doubled in value and the other isn’t far behind. I just turned down 50% more than I paid for it. Recently I bought another rental unit in a small condo complex and have just completed remodeling in time for Winter Season rental. In addition, a couple of years ago I made an investment in the taxi business. To date, all of these have paid very nice dividends in cash as well as equity.

After living here for several years and learning what is necessary to navigate through the red tape involved with immigration, getting a Cedula (National I.D. card), a driver’s license, buying property, etc.

I decided to start a small company to help people who want to relocate, start or buy a business, find investments, and in general to provide the information someone needs if they plan to live here full time.

There is a $500 million dollar marina and cruise ship port planned in downtown Porlamar. This has been approved and financing is in place according to a recent news article. At Marina Concordia (the old marina) new sidewalks, parking lots and storefronts are being built and the older buildings remodeled. New subdivisions are going up almost as if someone planted “house” seeds in fertile land and added water. There are stores similar to Home Depot or Lowe’s that have recently opened.

You can drive in any direction on the island and see vacation houses and condos being built, roads being repaired and older existing homes being renovated. In any supermarket or department store you can see European tourists stocking up on wine, liquor, and imported gourmet foods from Europe at prices lower than they pay at home! Cuervo Gold Tequila is cheaper here than it is in Mexico!

Is it still a good time to invest?  personally, I think it is a great time to invest and to find good growth opportunities. Real Estate prices have risen in the time I’ve lived here, but you can still find an ocean view condo in the $35-40,000 dollar price range. It may not be in the newest building, but try to find an ocean view condo at that price anywhere in North America or the rest of the Caribbean! If you don’t mind living outside the city, large country houses can still be found for as little as $20,000! These will probably need some remodeling to bring them up to North American standards, but labor is inexpensive here.

What will conditions be like next Christmas? I think just bigger and bigger. This island is large enough to accommodate a lot more growth and I think the Macanao peninsula (the western half of the island) will start to grow just like Arizona. Presently Macanao is similar to what Scottsdale, Arizona was like 45 years ago. (According to the Scottsdale Convention & Visitor’s Bureau, Scottsdale’s population in 1960 was 10,026 and the city's land area was just 3.8 square miles. In 1970 the Scottsdale census reported a population of 67,823; the city's land area had expanded to just over 68 square miles. By 1988 Scottsdale's population was 126,000 people. The city had grown to cover 183.4 square miles.) 

Imagine the rate of growth if they’d had an ocean!!

Considering the accelerated pace of “progress” today, possible construction of de-salination plants, and the power of Venezuela’s ‘black gold’, it may not be very long before luxury condos, golf courses, retirement villages, all-inclusive resorts, 5-Star Hotels and related tourist businesses spring up on what is now very cheap land. If your considering retiring here - think before you leap! This is still Latin America, and will never be the same as the U.S. or Canada in many respects. On the plus side, the hassle and hustle of North America hasn’t been imported to Margarita - yet! 

We recently attended a delicious Thanksgiving Feast at an ex-pat friend’s house. Much to our surprise the other guests were in the 30-40 age group and several families told us that they left the States and moved to Margarita Island to find a safer, less superficial world in which to raise their children. So... Margarita Island is not just for retirees - it’s for anyone who seeks a simpler, less complicated existence. I’ve listed some types of businesses that an energetic, imaginative person might start (or invest in) on my website or e-mail me at discovermargaritaisland@yahoo.com. 

You might be able turn your skills or hobbies into a good living here, and the cost of living is so affordable at this time you could find yourself working less and enjoying life more! Margarita island and Venezuela in general abound with opportunities. Meanwhile, I’m going to enjoy the holidays with my 10 cent gas, my 20 cent beer and warm tropical weather! 

FELIZ NAVIDAD TO ALL!

For more information about living and working on a Caribbean island at a pace that won’t kill you before your time, check out my website www.retirecaribbean.com

To contact Scott Click Here

The following is the first article Scott wrote for the magazine:

• Margarita Island ~ Cheapest Vacation Spot In The Caribbean
• Working In Paradise ~ Hot Dogs To Charter Boats
• Prices On Margarita Island ~ The Most Inexpensive Spot In The Caribbean
• Margarita Island Free Medical Care ~ More From Margarita Island, Venezuela
• Live On Margarita Island On $800 A Month? ~ Answers To Questions
• Beaches Of Margarita Island ~ Venezulean Beauty