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21 sats \ 6 replies \ @nerd2ninja 14 Jul 2023 \ on: We bought property in El Salvador. Ask me anything. bitcoin
How likely is the practice of buying 2nd and 3rd and 4th properties as though they were money you can mortgage later when you need to spend a bit, to put El Salvadorians on the streets?
What are the zoning laws like out there in El Salvador? Are you only allowed to build single family homes or can you build condos and apartments next to a single family home? Can your home sell hot dogs out of the front of the building?
Are you going to lobby the government for zoning laws to increase property values in plots you have investments in
Are you an employee of goodlife or a government representative of El Salvador?
Did you buy the property using leverage? (debt)
Wow... I'm not associated with goodlife at all, I'm just saying I had a great experience with them. Not receiving any commission in any way.
As for your other questions;
We haven't built a home or had to deal with zoning. I understand however that you can build a home on agricultural land if it is properly registered and you use architect and get plans approved.
Putting el Salvadorians on the street: are you against buying real estate in other countries? Sorry I dont understand your question.
No plans to lobby government at all
Did not leverage
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I'm not against buying property in other countries if you're living there or you build a condo on it or you know make a productive use of it, but I think of the causes of the housing crisis in the US and I'm just wondering if your incentives will result in a housing crisis in El Salvador.
Believe it or not, your answers so far actually put me at ease.
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That's great to hear, though really our satisfaction with the purchase really dont depend on your approval :)
As a bitcoin community we do have to ensure we lead by example wherever we live. So we hope to contribute positively in our own way.
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Native Salvadoran here. There are laws on the books limiting how much property one person can own. But that's for natives, I don't know what it would be like for a foreigner.
To the op @hypnagog, I would say to keep a close eye on your place. My uncle lost property after people moved in there after he hadn't been there a while. People can gain rights from occupancy, so that's something to think about if you don't spend enough time there.
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Good to know, thanks! We are paying someone to tend the lot. As for maximum, I was told it was 50+ hectares, so really not a limit that would be an issue for the average purchase.
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