How I did it: What pushed me was the fact that property price in Panama was getting higher by the minute, so I decided to  scout lots of land in the beach area, since i figured it would be less expensive that way (instead of using a realtor).
After a lot of scouting, found this lot of 1,000m2 that already had a fence and a cement shack with tiled roof that served for hanging hammocks. It turned out to be from a family that wanted to sell urgently, so they were selling at a very reasonable price.
Since I didnt have enough money or credit to buy it on my own, I talked to my parents & brother and decided to buy together (in the end, we were all gonna use it).
So far, we´ve built an outdoor sink, a bbq, have installed flooring in the shack, built a bathroom/deposit and the bases for a big living room.

Lessons & tips: -Have a budget in mind
-Study the prices in the area, so you know when you have a bargain in front of you
-Sometimes what you have in front of you is not what you had in mind, but look above that and see if it has potential
-Plan ahead, if you buy a lot or a house, have in mind what you want to build or add.. (the finished project, so you avoid construction mishaps)
-Use a local contractor and buy the construction material yourself;  you can save a lot of money

Feb 10, 2009, 11:16AM PST | 0 comments | 2 cheers