It appears you have not registered with our community. To register please click here ...

+-

+-PL Gallery Random Image


Author Topic: How to make money in Latin America (Colombia, etc)  (Read 5020 times)

0 Members and 1 Guest are viewing this topic.

Offline bcc_1_2

  • Hero Member
  • *****
  • Posts: 2754
  • Country: us
  • Gender: Male
  • Spouse's Country: Other Latin America
  • Status: Married 0-2 years
  • Trips: None (yet)
How to make money in Latin America (Colombia, etc)
« on: August 05, 2016, 03:17:57 PM »
Can you imagine how many guys are searching this? Apart from those working remotely (computer guys) or oil and gas guys the true answer is good luck. About the best answer I've seen is to own property. According to a gringo/colombiana couple I'm close with they are just looking at buying real estate in bogota. Sounds like low down payment, reasonable interest. You just have to keep the property up and charge fair rent. She already owns one and they are talking about trying to up their portfolio to 10 or more. Once they get them paid off it could provide a decent income. Especially if a property is 4 or 5 apartments, a local, and a garage.
Retiring in Tela, Honduras is 14,600 days (haha)

Offline Elexpatriado

  • Hero Member
  • *****
  • Posts: 3459
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #1 on: August 05, 2016, 04:14:00 PM »

NOt only that, now, if you are ther more than 180 days, they want to know what your world wide income AND assets are so they can tax you on that,


What a joke. No sane regime is that onerous. NExt they will be asking you to wear underwear on the outside.


Forget the property, DIAN can put an embargo on it and seize it. crazy idea
« Last Edit: August 05, 2016, 04:18:29 PM by Elexpatriado »

Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #2 on: August 05, 2016, 10:05:58 PM »
If you want to be a property renter why do it in Colombia?  You could buy property in the US, rent it out, and let a property management company handle all the dealings with tenants, maintenance etc while you live in Colombia or wherever.


And to all of these people thinking this is a good time to buy property in Colombia because of the historically low exchange rate, what makes them so sure that the peso is going to go back to where it was a couple of years ago, or if it won't continue to decline?


Ask any Colombian who has the ability to buy American real estate where they'd rather invest their money, Colombian property or American property?  I'm pretty sure any Colombian would choose to invest in American properties.

Planet-Love.com

Re: How to make money in Latin America (Colombia, etc)
« Reply #2 on: August 05, 2016, 10:05:58 PM »

Offline bcc_1_2

  • Hero Member
  • *****
  • Posts: 2754
  • Country: us
  • Gender: Male
  • Spouse's Country: Other Latin America
  • Status: Married 0-2 years
  • Trips: None (yet)
Re: How to make money in Latin America (Colombia, etc)
« Reply #3 on: August 08, 2016, 03:03:16 PM »
If you want to be a property renter why do it in Colombia?  You could buy property in the US, rent it out, and let a property management company handle all the dealings with tenants, maintenance etc while you live in Colombia or wherever.


And to all of these people thinking this is a good time to buy property in Colombia because of the historically low exchange rate, what makes them so sure that the peso is going to go back to where it was a couple of years ago, or if it won't continue to decline?


Ask any Colombian who has the ability to buy American real estate where they'd rather invest their money, Colombian property or American property?  I'm pretty sure any Colombian would choose to invest in American properties.


I'm not hearing that. I think you get different responses from different people. Wages are lower, less rules and red tape. I think you can make a case for it. In some cases we are talking about water and electricity. That's pretty easy compared to central air.
Retiring in Tela, Honduras is 14,600 days (haha)

Offline buencamino3

  • Full Member
  • ***
  • Posts: 315
  • Country: co
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #4 on: August 08, 2016, 06:04:18 PM »
Borrowing in Colombia is expensive. The interest rate recently went to 7.75% and could continue to rise.
Hermosamente feliz

Gato4Astrid

  • Guest
Re: How to make money in Latin America (Colombia, etc)
« Reply #5 on: August 09, 2016, 09:12:34 AM »
You don't need getting paid from any Latin American countries in order to work there.


Like you mentioned "Apart from those working remotely (computer guys) or oil and gas",  you could be a photographer, selling to your own country,  you could be a graphic designer doing it for any clients living in your country.   You could become an importer for your country ...






Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #6 on: August 12, 2016, 10:23:43 PM »
. Wages are lower, less rules and red tape.





How in the f*ck does lower wages make for a good place to be a landlord?  I don't know about you but I'd rather have tenants who earn higher wages as opposed to tenants who earn lower wages.  And where did you get the idea that there's "less red tape" in Colombia?  If anything there's more red tape.  Every single person I know who has done any real estate dealings in Colombia has complained about mountains of red tape.




[/size]
I think you can make a case for it. In some cases we are talking about water and electricity. That's pretty easy compared to central air.


So not having to deal with CENTRAL AIR is what makes Colombia a better place to invest than the US/Canada?  Seriously, wtf!?




The ONLY cases that I know of where real estate investors are doing good in Colombia are people who buy a condo/apartment/house and then rent it out at exorbitant prices to gringos and other foreigners who are staying short term in Colombia.


And it's a million times easier to borrow money in the US than it is in Colombia.





Offline AndyLee

  • Sr. Member
  • ****
  • Posts: 860
  • Country: co
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking >5 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #7 on: August 17, 2016, 01:54:43 PM »
Those of us who live here full time spend a good bit of our day wondering if we are overlooking the one brilliant idea that will enable us a make money here.
For me it was easy, I write books that sell in the US and Europe and the money goes to my US Paypal account which links to my US checking and savings accounts. All the money stays in US where i pay normal income taxes and I don´t have to declare income here in Colombia.
There is the part about the World Wide income being taxed here, but it is more of a nuisance than anything else for most of us. Even if you had annual income in the US of $1 million, and lived full time in Colombia, your Colombia hit would be less than $10,000, compared to the US hit of around 35%-50%.
Many people could do more with online marketing if they want a business they can manage part time and keep the money in the US.  There are tons of sites where you can do ¨dropship¨ arrangements which in essence allows you to have your own online store for almost no start up costs. You take the online order, forward it to your supplier who ships the product, you deposit the money and pay the supplier. Pretty darn simple and totally profitable if you have a niche. Your supplier even handles warranty claims and returns. You don´t even need a storefront, not even a post office box, just a Paypal account.
Or, you can do as I do and have affiliate marketing programs with online retailers such as Amazon.com. You write blogs or books about their products and use hyperlinks to connect the reader to the retailer as a click-on and you get a percentage of whatever the reader buys.
Or, you can design your own products and get them manufactured here in Colombia where a factory worker makes about 70-cents per hour, then sell the products online in the US for a tremendous markup.
I have a couple products in the works, now. And, no, I don´t feel bad about using sweat shop labor, because it really isn´t. In fact the factory worker in question won´t have a job at all unless the factory where he works has products to manufacture. The minimum wage here is about 70-cents hour, so it is just a normal day of work for him, and not sweat shop labor. That 70-cents per hour will support him and his family.



If you are unhappy change something. Quit your job. Move. Leave your miserable relationship. Stop making excuses. You are in control.

Offline Elexpatriado

  • Hero Member
  • *****
  • Posts: 3459
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #8 on: August 17, 2016, 08:30:05 PM »
Those of us who live here full time spend a good bit of our day wondering if we are overlooking the one brilliant idea that will enable us a make money here.
For me it was easy, I write books that sell in the US and Europe and the money goes to my US Paypal account which links to my US checking and savings accounts. All the money stays in US where i pay normal income taxes and I don´t have to declare income here in Colombia.
There is the part about the World Wide income being taxed here, but it is more of a nuisance than anything else for most of us. Even if you had annual income in the US of $1 million, and lived full time in Colombia, your Colombia hit would be less than $10,000, compared to the US hit of around 35%-50%.
Many people could do more with online marketing if they want a business they can manage part time and keep the money in the US.  There are tons of sites where you can do ¨dropship¨ arrangements which in essence allows you to have your own online store for almost no start up costs. You take the online order, forward it to your supplier who ships the product, you deposit the money and pay the supplier. Pretty darn simple and totally profitable if you have a niche. Your supplier even handles warranty claims and returns. You don´t even need a storefront, not even a post office box, just a Paypal account.
Or, you can do as I do and have affiliate marketing programs with online retailers such as Amazon.com. You write blogs or books about their products and use hyperlinks to connect the reader to the retailer as a click-on and you get a percentage of whatever the reader buys.
Or, you can design your own products and get them manufactured here in Colombia where a factory worker makes about 70-cents per hour, then sell the products online in the US for a tremendous markup.
I have a couple products in the works, now. And, no, I don´t feel bad about using sweat shop labor, because it really isn´t. In fact the factory worker in question won´t have a job at all unless the factory where he works has products to manufacture. The minimum wage here is about 70-cents hour, so it is just a normal day of work for him, and not sweat shop labor. That 70-cents per hour will support him and his family.


With all due respect Andy, I dont know where you get the idea someone making a Million would only pay $10,000-1%. Upper Colombian Tax rate s 33% and starts at a very low rate-around $30,000 per annum if my memory is correct.


Also everyone who makes over a certain amount (under $10,000) is required to do a declaration de Renta- Tax Return by law, other wise there are stiff fines that compound at 2% a month. (if DIAN ever clues in)


This applies on World Wide income- but of course US income taxes can be deducted.


Then there is the new statute they are pushing through- a "Wealth Tax" on anyone with total assets over $330,000- no developed country I know of does this.Some expats with bank accounts in Colombia have recently had their accounts frozen until they fill out a Formalario 160(which is suposed to list your world wide assets)


Most of these things have been implemented since  2013 and later, and most of the Colombian Accountants have no clue as to what is happening- go to 5 different accountants, you get 5 different stories.


This is a real mess. If I was to do it all over again, I would limit my stay in Colombia to 182days. And there is no freaking way I would buy property or invest non-liquidable capital in Colombia.


Actually, I think your idea to go to Ecuador for a few years until this cools off is an excellent idea. Who knows, you may see a whole lot of ex-Colombian expats there soon.
« Last Edit: August 17, 2016, 08:46:25 PM by Elexpatriado »

Offline AndyLee

  • Sr. Member
  • ****
  • Posts: 860
  • Country: co
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking >5 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #9 on: August 18, 2016, 05:48:46 AM »

With all due respect Andy, I dont know where you get the idea someone making a Million would only pay $10,000-1%. Upper Colombian Tax rate s 33% and starts at a very low rate-around $30,000 per annum if my memory is correct.


Also everyone who makes over a certain amount (under $10,000) is required to do a declaration de Renta- Tax Return by law, other wise there are stiff fines that compound at 2% a month. (if DIAN ever clues in)


This applies on World Wide income- but of course US income taxes can be deducted.


Then there is the new statute they are pushing through- a "Wealth Tax" on anyone with total assets over $330,000- no developed country I know of does this.Some expats with bank accounts in Colombia have recently had their accounts frozen until they fill out a Formalario 160(which is suposed to list your world wide assets)


Most of these things have been implemented since  2013 and later, and most of the Colombian Accountants have no clue as to what is happening- go to 5 different accountants, you get 5 different stories.


This is a real mess. If I was to do it all over again, I would limit my stay in Colombia to 182days. And there is no freaking way I would buy property or invest non-liquidable capital in Colombia.


Actually, I think your idea to go to Ecuador for a few years until this cools off is an excellent idea. Who knows, you may see a whole lot of ex-Colombian expats there soon.
If you are unhappy change something. Quit your job. Move. Leave your miserable relationship. Stop making excuses. You are in control.

Offline AndyLee

  • Sr. Member
  • ****
  • Posts: 860
  • Country: co
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking >5 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #10 on: August 18, 2016, 06:15:23 AM »
If you have your income in your home country as I do you don´t have to pay income taxes in Colombia except for the world wide income tax. Most expat retirees living on a pension in Colombia don´t have to pay much if anything, but we do have to file. [size=78%]For most expat retirees this world wide tax law in Colombia is inconsequential.[/size]


As you pointed out, nobody in Colombia, even DIAN or tax accountants, seems to  have a clear interpretation of the Colombian tax laws. The $10,000 figure I mentioned before  comes from just one of several tax authorities questioned recently.


Last week President Santos introduced new tax legislation that if it passes will be implemented next year or the following year. We can only hope the new tax legislation will be written clearly enough so that tax experts can actually interpret what it says this time.


In the meantime, I agree with you. If you have a VERY high world wide income then it  might be best to live in Colombia less than 183 days, thus avoiding having to file anything in Colombia. You can stay here 180 days annually on a tourist visa.


[/size][size=78%]I also agree that you should k[/size][size=78%][/size][size=78%]eep your money in your home country where you can take advantage of tax loop holes until you find some other country, perhaps in the Caribbean, that might offer better tax havens. [/size]

If you are unhappy change something. Quit your job. Move. Leave your miserable relationship. Stop making excuses. You are in control.

Offline bcc_1_2

  • Hero Member
  • *****
  • Posts: 2754
  • Country: us
  • Gender: Male
  • Spouse's Country: Other Latin America
  • Status: Married 0-2 years
  • Trips: None (yet)
Re: How to make money in Latin America (Colombia, etc)
« Reply #11 on: August 18, 2016, 12:12:36 PM »





How in the f*ck does lower wages make for a good place to be a landlord?  I don't know about you but I'd rather have tenants who earn higher wages as opposed to tenants who earn lower wages.  And where did you get the idea that there's "less red tape" in Colombia?  If anything there's more red tape.  Every single person I know who has done any real estate dealings in Colombia has complained about mountains of red tape.






So not having to deal with CENTRAL AIR is what makes Colombia a better place to invest than the US/Canada?  Seriously, wtf!?




The ONLY cases that I know of where real estate investors are doing good in Colombia are people who buy a condo/apartment/house and then rent it out at exorbitant prices to gringos and other foreigners who are staying short term in Colombia.


And it's a million times easier to borrow money in the US than it is in Colombia.


To answer your question.... you basically use cheap labor from south Bogota to fix up a property in North Bogota to rent it. You get say a two story building. You make the local nice in the first flow. You renovate the two apartments on the 2nd floor. And you build a floor up to add two more apartments. There might even be some garage space there as well.


If you use electric appliances you can skip both gas and central air. Plus the building is going to cost a lot less in Colombia which should limit the need for a gringo to need a loan to begin with.
Retiring in Tela, Honduras is 14,600 days (haha)

Offline robert angel

  • Hero Member
  • *****
  • Posts: 6176
  • Country: us
  • Gender: Male
  • Summer 18
  • Spouse's Country: The Philippines
  • Status: Married >5 years
  • Trips: 4 - 10
Re: How to make money in Latin America (Colombia, etc)
« Reply #12 on: August 18, 2016, 06:04:55 PM »
Now why would anybody want to answer one of his endless, usually inane questions, questions that are always followed up by critcisms, baiting and more questions?

I think even Benjio, going on a month now without posting, probably got tired of feeding the chimp and seeing no action taken. Other long time regulars, constructive members, are increasingly scarce here nowadays because of his unending shenanigans. Some folks just keep trying to bite when nobody's there to yank the chain.

Freeze him out.
Whether you think you can or think you can't--you're right!

Planet-Love.com

Re: How to make money in Latin America (Colombia, etc)
« Reply #12 on: August 18, 2016, 06:04:55 PM »

Offline Elexpatriado

  • Hero Member
  • *****
  • Posts: 3459
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #13 on: August 18, 2016, 06:23:17 PM »

To answer your question.... you basically use cheap labor from south Bogota to fix up a property in North Bogota to rent it. You get say a two story building. You make the local nice in the first flow. You renovate the two apartments on the 2nd floor. And you build a floor up to add two more apartments. There might even be some garage space there as well.


If you use electric appliances you can skip both gas and central air. Plus the building is going to cost a lot less in Colombia which should limit the need for a gringo to need a loan to begin with.
[/quote


Then DIAN  sends you a formalario 160, you refuse to fill it in and they embargo all your property..

Offline AndyLee

  • Sr. Member
  • ****
  • Posts: 860
  • Country: co
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking >5 years
  • Trips: Resident
Re: How to make money in Latin America (Colombia, etc)
« Reply #14 on: August 18, 2016, 07:42:42 PM »
Yes, we do have to file, if they ask us. The worse possible thing any of us can do is ignore DIAN or Migracion.
In the meantime I´m on to brighter topics.
Making money, for example  :-\   
Now that I´ve taken on marital responsibilities I´m feeling the need to set aside more for a rainy day. We also want to do some more traveling, and that takes more money now with the two of us.
We´re going to Ecuador first, then to see Manchu Picchu in Peru, then down to Chile to visit a friend who has a vineyard there.
If you are unhappy change something. Quit your job. Move. Leave your miserable relationship. Stop making excuses. You are in control.

Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #15 on: August 18, 2016, 08:32:05 PM »

To answer your question.... you basically use cheap labor from south Bogota to fix up a property in North Bogota to rent it. You get say a two story building. You make the local nice in the first flow. You renovate the two apartments on the 2nd floor. And you build a floor up to add two more apartments. There might even be some garage space there as well.


If you use electric appliances you can skip both gas and central air. Plus the building is going to cost a lot less in Colombia which should limit the need for a gringo to need a loan to begin with.


Lower labor costs and lower expenses equals guess what.....lower rent.  That means that there is no advantage.  That's economics 101.  Didn't you say you went to college bcc?


And if there's no need for a gringo to need a loan to begin with why did YOU bring it up in your original post?  As usual bcc is contradicting himself.
« Last Edit: August 18, 2016, 08:35:14 PM by Awesome »

Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #16 on: August 18, 2016, 08:40:27 PM »
Or, you can design your own products and get them manufactured here in Colombia where a factory worker makes about 70-cents per hour, then sell the products online in the US for a tremendous markup.
I have a couple products in the works, now. And, no, I don´t feel bad about using sweat shop labor, because it really isn´t. In fact the factory worker in question won´t have a job at all unless the factory where he works has products to manufacture. The minimum wage here is about 70-cents hour, so it is just a normal day of work for him, and not sweat shop labor. That 70-cents per hour will support him and his family.




Where are you getting this 70 cents an hour stuff from?


Federal minimum wage in Colombia is about 700,000 pesos a month which at today's exchange rate equal out to about $1.50usd an hour.




And where are these "books" that you've written andylee?  Do you have a link to where I could see some of your work?  I'd SERIOUSLY love to check them out.

Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #17 on: August 18, 2016, 08:58:55 PM »
Now why would anybody want to answer one of his endless, usually inane questions, questions that are always followed up by critcisms, baiting and more questions?

I think even Benjio, going on a month now without posting, probably got tired of feeding the chimp and seeing no action taken. Other long time regulars, constructive members, are increasingly scarce here nowadays because of his unending shenanigans. Some folks just keep trying to bite when nobody's there to yank the chain.

Freeze him out.


Hey there liar, why don't you try not using my nutsack as a swingset every single day of your life? 


If you really want to "freeze him out" the first thing you should do is quit being my biggest fan.  You give me more attention than anyone on this board, by far.  If you want to freeze me out so bad start by using the IGNORE feature, but you and I both know you won't do that.  You're infatuated with me.  Jajaja!!

Offline Calipro

  • Hero Member
  • *****
  • Posts: 3473
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: None (yet)
Re: How to make money in Latin America (Colombia, etc)
« Reply #18 on: August 18, 2016, 09:10:44 PM »
If you want to be a property renter why do it in Colombia?  You could buy property in the US, rent it out, and let a property management company handle all the dealings with tenants, maintenance etc while you live in Colombia or wherever.


And to all of these people thinking this is a good time to buy property in Colombia because of the historically low exchange rate, what makes them so sure that the peso is going to go back to where it was a couple of years ago, or if it won't continue to decline?


Ask any Colombian who has the ability to buy American real estate where they'd rather invest their money, Colombian property or American property?  I'm pretty sure any Colombian would choose to invest in American properties.


No need to buy property in Colombia to make make money in real estate rentals.


This guy runs a property management company in Medellin and rents out other peoples apartments and takes a commission of the rent.


http://www.theapartmentmedellin.com/


My friend rents this apartment long term and makes between 6 and 7 hundred off of just this one apartment per month.


https://www.airbnb.com/rooms/5785616?s=VdF8GZ_v

Offline Juan Valdez

  • Full Member
  • ***
  • Posts: 192
  • Country: us
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking 3-5 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #19 on: August 21, 2016, 11:52:55 PM »

No need to buy property in Colombia to make make money in real estate rentals.


This guy runs a property management company in Medellin and rents out other peoples apartments and takes a commission of the rent.


http://www.theapartmentmedellin.com/


My friend rents this apartment long term and makes between 6 and 7 hundred off of just this one apartment per month.


https://www.airbnb.com/rooms/5785616?s=VdF8GZ_v

Calipro... are you talking about 2 different scenarios here?  Because if I connect your first statement above with your last statement, the implication is that your friend renting (out) the airbnb apartment is not the owner, just the manager (or has sublease privileges)?

Offline Calipro

  • Hero Member
  • *****
  • Posts: 3473
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: None (yet)
Re: How to make money in Latin America (Colombia, etc)
« Reply #20 on: August 22, 2016, 12:46:00 PM »
Calipro... are you talking about 2 different scenarios here?  Because if I connect your first statement above with your last statement, the implication is that your friend renting (out) the airbnb apartment is not the owner, just the manager (or has sublease privileges)?


I'm talking about two different people....the guy in Medellin is a property management company that will rent your apartment out and take a cut.....the other guy  is a friend of mine in Cali that rents  an apartment long term (lease) and rents it out short term on airbnb.


None of them own any real estate.

Offline Hector_Lavoe

  • Sr. Member
  • ****
  • Posts: 825
  • Country: us
  • Gender: Male
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 4 - 10
Re: How to make money in Latin America (Colombia, etc)
« Reply #21 on: August 22, 2016, 03:04:43 PM »

None of them own any real estate.

Didn't you at one time own a condo/apartment in Colombia? If so, what was your experience (good or bad)?


Offline Awesome

  • Hero Member
  • *****
  • Posts: 1813
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: 1 - 3
Re: How to make money in Latin America (Colombia, etc)
« Reply #22 on: August 22, 2016, 05:25:42 PM »

I'm talking about two different people....the guy in Medellin is a property management company that will rent your apartment out and take a cut.....the other guy  is a friend of mine in Cali that rents  an apartment long term (lease) and rents it out short term on airbnb.


None of them own any real estate.


I didn't click on those links but I think that kind of ties into what I mentioned about gringos renting to other gringos at inflated rates.  Those are the only types of real estate strategies I've seen work in Colombia.  Even then you'd still have to be a pretty sharp businessperson to pull it off.

Planet-Love.com

Re: How to make money in Latin America (Colombia, etc)
« Reply #22 on: August 22, 2016, 05:25:42 PM »

Offline Calipro

  • Hero Member
  • *****
  • Posts: 3473
  • Country: 00
  • Spouse's Country: No Selection
  • Status: Looking 0-2 years
  • Trips: None (yet)
Re: How to make money in Latin America (Colombia, etc)
« Reply #23 on: August 22, 2016, 07:14:55 PM »
Didn't you at one time own a condo/apartment in Colombia? If so, what was your experience (good or bad)?


I liked having my own place in Cali.....I sold it and made about 23K off of it almost all due to the difference in the exchange rate at the time of the sell compared to the exchange rate at the time it was purchased.
« Last Edit: August 22, 2016, 07:25:21 PM by Calipro »

 

Sponsor Twr1R

PL Stats

Members
Total Members: 5871
Latest: ponttbryr
New This Month: 1
New This Week: 0
New Today: 0
Stats
Total Posts: 133128
Total Topics: 7864
Most Online Today: 293
Most Online Ever: 1000
(December 26, 2022, 11:57:37 PM)
Users Online
Members: 0
Guests: 281
Total: 281
Powered by EzPortal