Panama August 2008

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Tuesday, August 19, 2008

We had breakfast and then got paperwork together to walk to Balboa and Calle Uruguay to meet with Panama Casa property management company. It poured on us so had to walk thru mud near the construction sites. There are many projects proposed or going up on Balboa.

The office of Panama Casa is in the La Gaviota building. Security person in next building knew this and helped us. Once in the building we learned that Betsy was still with another client and spent a very productive 20 minutes with Suzett who provided us with a typical rental proforma spread sheet. We spent about three hours with Betsy asking and getting answers to questions. Towards the end we met Jeff Duda the owner and spent time talking about his various interests and projects here in Panama.

At two we walked back to the hotel got two bowls of soup and changed to go to see Rodrigo. This time we took a taxi. The meeting went as planned signing the documents for the transfer of the resident agency, meeting minutes and other items with the accountant. We left copies of our passports, and the information for completing wills in Panama for transfer of the property should something happen between now and then.

We did not talk much about his thought on best method of property management since we were to meet Caridad Aguilar at Manolo's on Via Argentina for coffee at 4:30. It was after this when we left the building and could not find an empty taxi so walked to Manolo.

We had a very educational discussion with Cary about her business and her daughter and things that are going on in Panama. This turned out to be very beneficial as she may be interested in having Miriam come work with her. We got caught up on her operations in Boquete, Raul and her daughter. We also learned of GS relocation and will try to contact them for property management.

Back at the hotel we met a gentleman on the elevator as we were going to dinner who was from LA area. He came to Panama 5 years ago. Has bought and sold two apartments in the unfinished building next door and pocketed $200,000 in profits. Since these were corporation that were blind companies has has the money free and clear.

Usual dinner at Pomodoro and back to bed.

Monday, August 18, 2008

We got up and Sara was packed to catch her flight. We all had breakfast at Milan and Harlan left to meet with Rodrigo Molina, lawyer, to get the documents and fanchise tax paid for Corporacion Misami, S.A. This is not doing any business as of this date so only the tax is due. But, since we need a Resident Attorney to be the representative of the Corporation in Panama, had to pay for one year of these services and the fees to have the change registered in the public registry. So, this came to $550.

Rodrigo set up a meeting for us on Tuesday at 3 PM to meet with his accountant and to sign the minutes of the meeting for the change of resident agent and to sign the documents assigning him as the agent.

Harlan walked back to the Hotel and got Sara checked out of the room and found a taxi to take her to the airport. At this point her flight was still on time. After Sara left Karen and Harlan walked to the new Petit Paris bakery on Via Argentina for Quiche and blackberry batido. We split a delicious raspberry fruit tart.

Walked back to the Hotel for a rest before walking to multicentro and looking at and for other furniture stores. We were in search of lighting store Lumitec but did not cross to the Paitilla side soon enough to find it. We then walked down Via Israel to the Multi Plaza and up to Lumicentro. Here we saw various lighting including track lighting.

Walked back to the Hotel and rested before going to Pomodoro.

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