I found these tips on a blog called Panama Travels, whose author has been surprised by the down-home investment sense of the “redneck expats [who] are sittin’ pretty in Panama” because they know better than to spend like yuppies in America.

• Buy what you can afford
• Be handy
• Don’t live to impress the neighbors
• Don’t confuse investments with indulgences
• Be skeptical about hype
• Be willing to deal with discomforts

Follow the link for the background behind the redneck rules of sound real-estate investment. They’re as relevant in America today as they are in Panama.