View Full Version : Buying Property in Colombia
Fellows,
I have not been to Medellin since Sep 08 and like to know how is the Real Estate Market there.
Any feed back would be appricieated.As someone that this year has bought 5 properties in MDE, I think that Colombia is a great investment. I buy value, fix it and then rent it. Since buying the first two the dollar has gone down 11% against the peso making my investment even nicer. Getting 75-85% Ocupancy, due to aggressive marketing, fair prices, and giving people the same value I searched for when I was renting places to bring my friends. Also believing in the property and dealing with clients fairly has been the ingredients to success. I am very happy with Rich Holman from First American he has done things for me that have gone way beyond what a agent does. If you see this Rich thank you for everything. I was warned not to go with a gringo agent and I been so happy I did not listen. Biggest thing is my guy on the ground Ruben, he is the real star of the operation. A honest Magyver, can fix a lot of stuff his background was a owner of a hardware store. If anyone needs his info for airport pickups, or a night out with a honest bilingual driver, as always PM me.
CaptainDorado
10-01-10, 02:05
As someone that this year has bought 5 properties in MDE, I think that Colombia is a great investment. I buy value, fix it and then rent it. Since buying the first two the dollar has gone down 11% against the peso making my investment even nicer. Getting 75-85% Ocupancy, due to aggressive marketing, fair prices, and giving people the same value I searched for when I was renting places to bring my friends. Also believing in the property and dealing with clients fairly has been the ingredients to success. I am very happy with Rich Holman from First American he has done things for me that have gone way beyond what a agent does. If you see this Rich thank you for everything. I was warned not to go with a gringo agent and I been so happy I did not listen. Biggest thing is my guy on the ground Ruben, he is the real star of the operation. A honest Magyver, can fix a lot of stuff his background was a owner of a hardware store. If anyone needs his info for airport pickups, or a night out with a honest bilingual driver, as always PM me.Great operation, can wait to stay in your propertys again, Rubin is the greatest. AKA Rusty.
Great operation, can wait to stay in your propertys again, Rubin is the greatest. AKA Rusty.Meeting people like you and RS while I am in town just adds to my overall enjoyment of running my Colombian(MDE) properties.
Like I said before ISG members helping ISG members.
Aussie Greg
10-02-10, 01:12
$250,000 USD
A.G.
Hello Aussie,
What is the asking price for 39% of the business?
Paisalov99
11-28-10, 16:05
If you are planning to invest in Colombia we have plenty of business opportunities ranging from real estate , stores and internet based websites that can generate 10% or more per year. Shared investments also available where you can buy 50% of an office building for $140,000 USD with rent income $1000 USD, Condos for $75,000 with rent income of $500. Internet based websites that includes fun and profit starting from $10,000 USD will return 10%.
Send me IM or email me [Email address deleted by Admin]
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Aussie Greg
11-30-10, 02:48
If any body has a spare million, Hotel Casa Blanca's property's are for sale.
A.G.
If you are planning to invest in Colombia we have plenty of business opportunities ranging from real estate , stores and internet based websites that can generate 10% or more per year. Shared investments also available where you can buy 50% of an office building for $140,000 USD with rent income $1000 USD, Condos for $75,000 with rent income of $500. Internet based websites that includes fun and profit starting from $10,000 USD will return 10%.
Send me IM or email me [Email address deleted by Admin]
EDITOR's NOTE: This report was edited to remove email addresses in the text. Please do not post email addresses in the Forum. Instead, please invite other Forum Members to contact you directly via the Forum's Private Messaging system. Thanks!
I just came back from Colombia. Had a good time and bought one timeshare resort elpenol (from MDE Rio Negro airport just 30 min away) in Medellin I submit some fotos & information. Anybody visit Medellin 2or 3times a year will save good $ and very appeal to normal chicas. US phone 1 818 453 5886 Colombia 57 4 824 6501 name of the Owner Santiago : PARQUE VIEJO PENOL. There are suite, disco, restaurant, jacucci, swimming pool, jetski. Owner will arrange transportation and lodging in Medellin very economic price from resort. Price is depends on plan. I Paid 5million pesos 20 days plan.
Any question PM me or call the owner (english)
I forgot mentioning onething. 20days plan I bought include Medellin stay. Owner has couple of APT in Medellin. That is why I bought that plan add some fotos of MDE Apt. That APT seems like a love hotel in Medellin. 16ths floor (top floor). Much better than hotel and room rental. Nobody bothers me. And 6 armored security guys 24 hours on duty like a officetel in Newyork. There is Macdonald in walking distance and all the taxi cost to anywhere 3 or 4 dollars only. Especialy this place easy to find so when you call your visitor will not cofuse and miss it. If you not speak fluent spanish. I've been visit Medellin and Colombia since 2005, maybe 20 times.
Xwhocaresx
12-26-10, 13:13
@Sesimo I think you cannot be reached via PM?
I do not know why call US line phone to Owner he has my contact info.
143691
143692
143693
143694
So when the Doll House went under, the owner no longer needed his apartment in Medellin. I like the guy, and wish him well on the disco going in that place named Farenheit so I here. So I been a long time monger, I wrote a lot for ISG and before that a WS. I bought this place based on value and looks and knowing that there are very limited choices when it comes to a 5 bedroom apartment. The place will be renovated to 5 bedrooms starting Jan 13th. Colombians do not like work men in the buildings from DEC 15- Jan 15th. Anyway I encourage you to get a hold of me if you wish more information about this one of a kind apartment Penthouse. I think it might be the biggest place for daily rental. I know of two bigger joints but, there not really a good Comp. One is a house up in god knows where for 500 a night with crappy furniture and the other is that Pablo Escobar place with the pool that 10, 000 sqft but I here that's like a grand a day. So this place is 250 a night and before you tell me its way to high its for 5 people. It has a steam room, it will have a open area if I get permission from the female * administrator. It's got a bar area tied into one of the bedrooms so the party can go on without the neighbors hearing you like they do on the first level. The master bedroom has a hot tub in the middle of the room it's bedroom is bigger then the living room of my 2 bedroom. There are 5 water heaters in the place so you get a hot shower and a 300 gallon marble fish tank. Place is crazy, So far this is the video pre my doing some work here.
http://www.youtube.com/watch?v=KmQ5QnVzHdI
www.pobladorentals.com
ISG member inspired to party down other ISG members
Does anyone know of any contact info on finca rentals? Either outside of Medellin or Bogota? Also, does anyone know the ins and outs of buying land (versus just a condo or house) in Colombia? Are there additional restrictions or is it the same as buying a place.
Thanks,
Rodeo
Does anyone know of any contact info on finca rentals? Either outside of Medellin or Bogota? Also, does anyone know the ins and outs of buying land (versus just a condo or house) in Colombia? Are there additional restrictions or is it the same as buying a place.
Thanks,
RodeoTo rent in Colombia is almost like buying, you need to supply them with your financial statements, and you have to have 2 cosigners if the rent over one million pesos, if it is under a million you only need one cosigner, but still you need 1 or 2 references in addition to the above. It is really a pain in the ass down here.
I emailed this dude one time, he was very responsive, I am sure he can help you, assuming Guatupé qualifies as outside of Medellín.
http://www.pobladorentals.com/information.php?id_item=0
Does anyone know of any contact info on finca rentals? Either outside of Medellin or Bogota? Also, does anyone know the ins and outs of buying land (versus just a condo or house) in Colombia? Are there additional restrictions or is it the same as buying a place.
Thanks,
Rodeo
To rent in Colombia is almost like buying, you need to supply them with your financial statements, and you have to have 2 cosigners if the rent over one million pesos, if it is under a million you only need one cosigner, but still you need 1 or 2 references in addition to the above. It is really a pain in the ass down here.Even for just a weekend or vacation rental?
Even for just a weekend or vacation rental?No, that was for a long term rental. For just a vacation you can check with real estate agencies, they always seem to know of an owner who wants to make few bucks to rent his place for a short period. I have few friends here in Medellin who own fincas, I am not sure if they rent them, but I will ask them to see what they have to say.
Even for just a weekend or vacation rental?I guess he meant renting long term. But short term of course is not a problem since you prepay. Buying is also not a problem if paying cash.
VipMedellin
03-08-11, 18:49
Even for just a weekend or vacation rental?Renting with our company is very easy and we give you a ten percent off for being a member of ISG.
Please take a look we can help you get what you need.
http://rentmedellinfurnishedapartments.com/
I would like to hear from guys who have bought apartments or condos or houses, and see if most are happy with having purchased, or if most come to feel it wasn't a good choice. Also, re Medellín, there are lots of places of course, Envigado, Sabaneta, Patio Bonito, Laureles, and even in the barrios perhaps, Aurora or Bello (why not?). What seems strange to me is to pay 1st world prices, $70 to $120 a square foot, for an apartment in a 2nd world country. It should be cheaper. And also, as for me, I just need a place to lay my head down, a 1 bedroom or 2 at most. It is interesting to note that the authorities in Medellín have cracked down on short-term apt rentals, making it problematic if not impossible. So the idea is not so much to buy as some sort of cash flow investment, but rather to buy to live or at least visit. Would a few guys who have taken the plunge mind chiming in?
Member #4244
07-18-11, 23:09
I have entertained buying property there several times and also leasing it. I have noticed that anything you see advertised is that is told to you by someone in person who can see you are a foreigner is going to much higher than what Colombians pay. I've paid rents and shopped for places with locals, there are deals to be had. Find someone trustworthy there (astonishingly difficult) and let them set up the transaction and bring you the paperwork. Get everything set in stone before you pay. Of course everything varies widely based on strata. You want something nice in El Poblado, you're going to pay damn near USA prices. You want a strata 2 three-bedroom apartment, you're going to pay only four figures.
Bango Cheito
07-19-11, 18:29
i would like to hear from guys who have bought apartments or condos or houses, and see if most are happy with having purchased, or if most come to feel it wasn't a good choice. also, re medellín, there are lots of places of course, envigado, sabaneta, patio bonito, laureles, and even in the barrios perhaps, aurora or bello (why not?). what seems strange to me is to pay 1st world prices, $70 to $120 a square foot, for an apartment in a 2nd world country. it should be cheaper. and also, as for me, i just need a place to lay my head down, a 1 bedroom or 2 at most. it is interesting to note that the authorities in medellín have cracked down on short-term apt rentals, making it problematic if not impossible. so the idea is not so much to buy as some sort of cash flow investment, but rather to buy to live or at least visit. would a few guys who have taken the plunge mind chiming in?i bought in bogota. sold at a slight profit, if i buy again i will not buy new construction. new construction here or anywhere else in the world i've seen is usually shit, they try to rush things too much these days. we had major leakage / mold / humidity problems.
real estate in colombia is a much better deal once you get out of estratos 4-6. i think estrato 3 is the best estrato.
I bought in Bogota. Sold at a slight profit, if I buy again I will NOT buy new construction. New construction here or anywhere else in the world I've seen is usually shit, they try to rush things too much these days. We had major leakage / mold / humidity problems.
Real estate in Colombia is a much better deal once you get out of Estratos 4-6. I think Estrato 3 is the best estrato.It might be better to buy do in a relatively new building and fix it up yourself.
It depends what you want to do with the investment. To live in. Estrato 3 is the best deal. To sell or rent. Not so much. You need to cater to people with money. Most extranjeros want to live in the best.
Caliguy 2010
07-20-11, 21:26
It might be better to buy do in a relatively new building and fix it up yourself.
It depends what you want to do with the investment. To live in. Estrato 3 is the best deal. To sell or rent. Not so much. You need to cater to people with money. Most extranjeros want to live in the best.I myself have been looking around for something to invest in and get some monthly income coming in. I have a GF in Ibague that helps bring transactions to me, or helps look for transactions. I saw a Single fam home, single story, with room to build 2 apartments on the 2nd floor. Asking price was 25k probably another 20k to build 2 more units. Total investment 45k USD. Total return per month about 750 USD / per month. Make your money back in 5 years approx. Another idea is to rent a building with a pool in these cities outside BOG and convert to hotel, I heard the initial investment is about 8k but return is about 2k / month after approx 6 months.
Bango Cheito
07-21-11, 02:10
It might be better to buy do in a relatively new building and fix it up yourself.
It depends what you want to do with the investment. To live in. Estrato 3 is the best deal. To sell or rent. Not so much. You need to cater to people with money. Most extranjeros want to live in the best.I thought of that too. But it's easy to get burned on that one too. I went through that in NYC. We bought a 2 family there, had it professionally inspected and everything, but nobody knows what's behind those walls without tearing them down.
Estrato 3 won't appreciate like the other Estratos do but it's also less vulnerable to corrections, and yeah, it's better for living. I also like to have parties at my place and sometimes the cries of pure pleasure bother those in the upper Estratos more. :P
I think properties in provicinal cities like Ibague are a better deal than in Bogota because people there just don't have any money, so home prices are lower compared to rents, and the ROI is much better.
A friend recently bought a 1 floor but rather big house with a big yard for like 100 million a year or so ago. He THOUGHT he got a good deal because that house in good condition woulda been worth 200, but in the end there is so much wrong with it that its gonna cost 150 or so to fix it all up. Houses in good condition that somebody actually wants to sell are rare here, just like anywhere else.
I thought of buying just a lot and building on it, but getting a good location is very difficult. And even then, sometimes there are cost overruns :P
Any advise from you guys on an honest and reputable realestate agent Medellin? I've searched sites and found a few. One is an American owner, (First American Realty Medellin). Would appreciate any feed back or good / bad experiences. Thanks in advance.
Any advise from you guys on an honest and reputable realestate agent Medellin? I've searched sites and found a few. One is an American owner, (First American Realty Medellin). Would appreciate any feed back or good / bad experiences. Thanks in advance.-
I for one have only nice things to say about FARM, PM me for more info, but were they fair, honest, answered my email, and were knowledgeable.
Then on the rental end john is a pleasure, and Rich is a friend. I would use again.
Hasideas Tao
09-11-11, 01:22
I've been fantasizing about renting an nice condo down in Colombia for a month. However, I'm counting on word of mouth. Is an agency really the best way to go? If I get a multi bedroom, I'll rent out to ISG members!
-
I for one have only nice things to say about FARM, PM me for more info, but were they fair, honest, answered my email, and were knowledgeable.
Then on the rental end john is a pleasure, and Rich is a friend. I would use again.
Orgasm Donor
10-16-11, 17:59
I've been searching around on the web for a furnished apt. In Poblado Medellin area. About 6 months for starters, then see how it goes from there. I have a few Q's to ask you gentlemen.
1. What is your opinion on the "high season"? I guess it makes sense for short-term if the hotels are booked solid during those months, but I think it is kind of a rip-off if you are renting longer-term.
2. I see several rental agency sites advertising the same exact apartment, for slightly different prices! What is up with this?
3. Should I just spend a week there visiting agencies, sometimes 2 agencies for the same apt?
4. Anyone had any luck looking on bulletin boards at the local supermarkets? I scored a great apt. In Costa Rica this way. Most ads I saw in the newspaper were rented out the day the ad came out in the newspaper. Spent too much time calling, driving all over San Jose.
5. Would it be a good idea to go into the lobby of a condo complex and see if there are any advertisements there?
6. Any other advice on how to negotiate is greatly appreciated.
Thanks for your help, I have never been to Medellin, but it looks like I will be spending 6 months to a year there, and would like some intel on how things operate there.
Joey Smith
12-13-11, 23:48
Has anyone kicked the tires on this new condo that is going up in Envigado. An American named Robert Shoemaker is building this place! Just curious if anyone has any info? Been looking for awhile now for a moderately priced apartment for the future.
This thread has been quite for a longtime. I read through all the info that is here. Anyone did any recent real estate transactions recently, buying or selling? What is the general consenses on the market and future of investment in MDE and CO in general? Any thoughts on exchange value and best guess on the future of COP? Would like to hear from expats who are living in CO and have their ear to the ground. Thanks.
This thread has been quite for a longtime. I read through all the info that is here. Anyone did any recent real estate transactions recently, buying or selling? What is the general consenses on the market and future of investment in MDE and CO in general? Any thoughts on exchange value and best guess on the future of COP? Would like to hear from expats who are living in CO and have their ear to the ground. Thanks.I just closed on a condo in Los Bolsos. In December. New construction. I am staying in it now until March. Exchange rate at purchase was 1810=$1. Today it is 1769. 44=$1. I'm glad I did it. Agents are showing other units to Colombian buyers at 16% more than I paid. I plan to rent fully furnished at a 14% ROI gross less taxes, admin, utilities and commissions. The market is good at least 6% annual appreciation. Buyers are mostly Colombians from other cities CTG, BOG etc. IMHO the dollar will only get worse along with other developed country currencies. How else do they finance all the debt they created?
I've been searching around on the web for a furnished apt. In Poblado Medellin area. About 6 months for starters, then see how it goes from there. I have a few Q's to ask you gentlemen.
1. What is your opinion on the "high season"? I guess it makes sense for short-term if the hotels are booked solid during those months, but I think it is kind of a rip-off if you are renting longer-term.
2. I see several rental agency sites advertising the same exact apartment, for slightly different prices! What is up with this?
3. Should I just spend a week there visiting agencies, sometimes 2 agencies for the same apt?
4. Anyone had any luck looking on bulletin boards at the local supermarkets? I scored a great apt. In Costa Rica this way. Most ads I saw in the newspaper were rented out the day the ad came out in the newspaper. Spent too much time calling, driving all over San Jose.
5. Would it be a good idea to go into the lobby of a condo complex and see if there are any advertisements there?
6. Any other advice on how to negotiate is greatly appreciated.
Thanks for your help, I have never been to Medellin, but it looks like I will be spending 6 months to a year there, and would like some intel on how things operate there.I own property here in Medellin. Talk to the porteros they usually now who is renting in the building and can contact owners. A little propina works.
This thread has been quite for a longtime. I read through all the info that is here. Anyone did any recent real estate transactions recently, buying or selling? What is the general consenses on the market and future of investment in MDE and CO in general? Any thoughts on exchange value and best guess on the future of COP? Would like to hear from expats who are living in CO and have their ear to the ground. Thanks.Also if you are interested in buying I can highly recommend an agent who speaks english and can find what you need as well as look after your interests. The agent offered 5 million less than I offered and got the property for me! PM me for details.
I just closed on a condo in Los Bolsos. In December. New construction. I am staying in it now until March. Exchange rate at purchase was 1810=$1. Today it is 1769. 44=$1. I'm glad I did it. Agents are showing other units to Colombian buyers at 16% more than I paid. I plan to rent fully furnished at a 14% ROI gross less taxes, admin, utilities and commissions. The market is good at least 6% annual appreciation. Buyers are mostly Colombians from other cities CTG, BOG etc. IMHO the dollar will only get worse along with other developed country currencies. How else do they finance all the debt they created?Do you have the rental listing with photos up already? Please share with us in the Apartment Rental/Hotel thread. How much will you be renting it for. Per night? The location being in Los Bolsos, would have to take taxis to & from the apartment, no?
Do you have the rental listing with photos up already? Please share with us in the Apartment Rental/Hotel thread. How much will you be renting it for. Per night? The location being in Los Bolsos, would have to take taxis to & from the apartment, no?The apartment will be available in March as I am using it now. It will be listed at www.theapartmentmedellin.com. Pictures will be there. They are already trying to arrange showings. Rent will be $2, 000+ per month for 3bed / 2bath / 2parking depending on season with heated pool, gym, children's playground. Sorry administration does not permit less than 1 month rentals as most of the better buildings in Medellin. You can walk to Santa Fe / Oviedo Commercial less than 9 minutes.
Also if you are interested in buying I can highly recommend an agent who speaks english and can find what you need as well as look after your interests. The agent offered 5 million less than I offered and got the property for me! PM me for details.Hi Arjay, I would like the name of the agent. I am going to a conference in Medellin in mid May and would like to make an investment similar to yours.
Thanks
Hi Arjay, I would like the name of the agent. I am going to a conference in Medellin in mid May and would like to make an investment similar to yours.
ThanksAlejandra and Innes. They work together. Alejandra fluent english and licensed CPA. Innes no english but, the more knowledgable about property.
Alejandra cel. : 314 742 3264 Innes cel: 314 615 4238. They are both very nice ladies. Tell them "Ronaldo" from Hawaii" referred you. Buena Suerte!
C Jack Sparrow
12-17-13, 23:48
USA and several advanced countries uses the form REIT, Real Estate Investment Trust. In Latinamerica, USA REITs has bought mostly supermarkets-chains property in Brazil and Mexico, construction companies etc.
What about Colombia? Are USA REITs interested in the Colombian market? Does Colombian laws permit this type of arrangement, I. E. Is Colombian law compalatible to the USA laws?
Hello friends.
I am considering entering into business with a Medellin businessman. I have checked his criminal record and potential links to bad guys through an agency, and he is OK.
Now I want to check on his reputation in business, like is he honest? Does he keep his committments? Does he treat his partners fairly? What is his real clout?
Would you know anyone that could perform this investigation for me?
Thank yo and kind regards.
BB.
Cuba Tourist
10-30-14, 17:50
Bimbo,
You need to know this sort of information firsthand. Let us say a PI finds he has a good reputation. What does that really mean to you? You and he could fight for all sorts of reasons, cultural or personal.
Bimbo,
You need to know this sort of information firsthand. Let us say a PI finds he has a good reputation. What does that really mean to you? You and he could fight for all sorts of reasons, cultural or personal.Hello Cuba Tourist. Thanks for your answer. I am aware of the risks. Still, it is better to have a check than zero check.
I have used a reputable PI. They can check on criminal records and cartel links, even peek into the Colombian Army's databases! But they are unable to get inside local business circles and test the waters concerning my guys.
Maybe a local lawyer or former politician could help?
So what's the real estate looking like in Cartagena? I'm thinking about buying a vacation home there.
StudPlayer
08-22-15, 13:47
With the exchange rate now at 3100+ pesos per US dollar, you can buy a decent new small apartment in an outlying suburb of Medellin for about usd $30,000.
Ask me and I will show you where they are but they are generally well north or south of town.
Housing gets a little more expensive the closer you get to where you want to live.
New large apartments within a block of the one noted below are selling for USD one million and a little more.
I know of someone who just bought 3.
If you were ever serious about buying in Colombia, now is the time.
The apartment below comes with a motorcycle included.
With the exchange rate now at 3100+ pesos per US dollar, you can buy a decent new small apartment in an outlying suburb of Medellin for about usd $30,000.
Ask me and I will show you where they are but they are generally well north or south of town.
Housing gets a little more expensive the closer you get to where you want to live.
New large apartments within a block of the one noted below are selling for USD one million and a little more.
I know of someone who just bought 3.
If you were ever serious about buying in Colombia, now is the time.
The apartment below comes with a motorcycle included.Why is everything priced in USDs?
Real estate is priced in dollars lots of places in Latin America. Argentina would be an example. Inflation is the key reason. If we agree on a price of 30 million colombian pesos and the exchange rate is 3. 000 to 1 when we agree, and the transaction takes three months to close, there is too much exchange rate risk. Plus since there are no mortgages in much of LatAm, or in the best case scenario you get a mortgage for 50% of the price, that is physically one fuck of a big pile of pesos to bring to the closing table.
Hilltopper
08-24-15, 13:47
Real estate is priced in dollars lots of places in Latin America. Argentina would be an example. Inflation is the key reason. If we agree on a price of 30 million colombian pesos and the exchange rate is 3. 000 to 1 when we agree, and the transaction takes three months to close, there is too much exchange rate risk. Plus since there are no mortgages in much of LatAm, or in the best case scenario you get a mortgage for 50% of the price, that is physically one fuck of a big pile of pesos to bring to the closing table.My experience in Colombia suggests that those pricing their property for sale in USD at this current time are doing so with hopes of them getting the windfall from the 60% appreciation in the dollar instead of the buyer from the USA benifitting from the increased purchasing power.
I say to hell with those sellers who are pricing in dollars for an amount equal to what they would have received in dollars a year ago. Inlation has not been much in Colombia either, so that's not a key reason. Here's the key reason: greedy seller hoping to gain USD appreciation windfall from stupid gringo.
It's always a great time to rent.
When the dollar is strong, like right now, the salesmen say it's a great time to buy; when it's weak they say it's a great time to buy (because they tell you the peso will keep on appreciating).
Pricing in US $ for Colombian property, except perhaps for the largest estates, is bogus. Just trying to rip us off.
Paying 1 million dollars for an apartment near Parque Lleras is ridiculous. I don't even like Parque Lleras. I much prefer La 70, and there are probably numerous other better areas I don't even know about, maybe in Sabaneta, maybe in the Santa Elena area.
Don't be a sucker.
With the exchange rate now at 3100+ pesos per US dollar, you can buy a decent new small apartment in an outlying suburb of Medellin for about usd $30,000.
Ask me and I will show you where they are but they are generally well north or south of town.
Housing gets a little more expensive the closer you get to where you want to live.
New large apartments within a block of the one noted below are selling for USD one million and a little more.
I know of someone who just bought 3.
If you were ever serious about buying in Colombia, now is the time.
The apartment below comes with a motorcycle included.
My experience in Colombia suggests that those pricing their property for sale in USD at this current time are doing so with hopes of them getting the windfall from the 60% appreciation in the dollar instead of the buyer from the USA benifitting from the increased purchasing power.
I say to hell with those sellers who are pricing in dollars for an amount equal to what they would have received in dollars a year ago. Inlation has not been much in Colombia either, so that's not a key reason. Here's the key reason: greedy seller hoping to gain USD appreciation windfall from stupid gringo.
If I were to write it, I would be less harsh with the choice of my words but I agree fully with this post. :-) Hilltopper is right on.
Hello Guys.
If anyone is looking for an income producing website that is affordable to buy and also get some free action, send me an I'm.
I am marketing a few websites for sale in Colombia.
Det.
Lucky Strike
09-15-15, 02:40
If anyone has been tracking "for sale" prices in COP for one or a couple of properties in BOG or MDE, how have the asking prices changed over the past 6 or 12 months?
I've seen data (a few month old now) that while USDCOP appreciated from 1900 to 2400 (25% appreciation) property prices in COP only went up 7-15%.
Now USDCOP is up approximately 50% to 3000, what are the prices (in COP) for the same properties now vs a year ago?
Thanks in advance for all replies.
--L. S.
If anyone has been tracking "for sale" prices in COP for one or a couple of properties in BOG or MDE, how have the asking prices changed over the past 6 or 12 months?
I've seen data (a few month old now) that while USDCOP appreciated from 1900 to 2400 (25% appreciation) property prices in COP only went up 7-15%.
Now USDCOP is up approximately 50% to 3000, what are the prices (in COP) for the same properties now vs a year ago?
Thanks in advance for all replies.
--L. S.http://www.banrep.gov.co/en/node/29371
Lucky Strike
09-16-15, 04:35
http://www.banrep.gov.co/en/node/29371Questner,
Thanks for the info, unfortunately the data compiled there ends with Q1/2015, before the most recent period of COP depreciation. Perhaps this is too early to get official data compiled.
Maybe someone had an eye on a particular property or properties for sale over a period of time and can report if and how much the selling prices have changed as the COP depreciated?
Prices have not changed due to the dollar drop. 99.999% of Colombians earn in COP. Why would prices change for them?
Questner,
Thanks for the info, unfortunately the data compiled there ends with Q1/2015, before the most recent period of COP depreciation. Perhaps this is too early to get official data compiled.
Maybe someone had an eye on a particular property or properties for sale over a period of time and can report if and how much the selling prices have changed as the COP depreciated?
This Australian guy has been in Colombia for 13 years (I think that's what he said), but he does have some interesting advice on real estate in Colombia.
https://www.youtube.com/watch?v=_KY-aXre9aA
I stayed twice with the group he represents. The street he walks down has a very nice apartment that I have used. The diesel Colombian guy in the video is named Freddy is a cool guy. There are a lot of places in Colombia which I would love to invest in if I had the funds.
This Australian guy has been in Colombia for 13 years (I think that's what he said), but he does have some interesting advice on real estate in Colombia.
https://www.youtube.com/watch?v=_KY-aXre9aA
This Australian guy has been in Colombia for 13 years (I think that's what he said), but he does have some interesting advice on real estate in Colombia.
https://www.youtube.com/watch?v=_KY-aXre9aABeen watching some of his videos over the last two years. He seems to be a lot more honest than Peddicord / Simon (Live & Invest Overseas).
Global - What areas would you invest in? Always curious of another person's investing perspective.
LifeIsABeach
03-19-18, 03:20
Been watching some of his videos over the last two years. He seems to be a lot more honest than Peddicord / Simon (Live & Invest Overseas). Global - What areas would you invest in? Always curious of another person's investing perspective.It all depends what you are looking for. Investing to live in or investing for commercial uses like buying properties and renting out. To live in, you have to decide where you want to live. I know what I am looking for. Last 6 months, I made my criteria and travelled to central and south Americas, followed by a trip to South East Asia. Loved Vietnam but residency visas are too short for Americans, 1 year and leave every 3 months. Colombia has some very good residency visas. I will be getting my paperwork ready for RE residency visa. After living there for a while, I will then decide if I want to buy something for commercial use.
This Australian guy has been in Colombia for 13 years (I think that's what he said), but he does have some interesting advice on real estate in Colombia.
https://www.youtube.com/watch?v=_KY-aXre9aALifeAFAR is a part of First American Realty (FAR), which is headquartered in Medellin (calle 10 and cra 43).
LifeAFAR is a part of First American Realty (FAR), which is headquartered in Medellin (calle 10 and cra 43).Thank you Fun Luvr! I've never been to Colombia, but I'm looking real hard at this country.
Thank you Fun Luvr! I've never been to Colombia, but I'm looking real hard at this country.I've only been to Medellin, and I like it a lot. I've visited more than 30 times since 2010. The weather is pretty much the same year round, 60's at night and low 80's during the day. Most things are inexpensive. Many modern shopping malls that compare to malls in the US. To me, it is as safe as a comparable size city in the US. I plan to go there for an extended time, maybe six months, sometime soon, just to experience it on a daily basis for more than the two weeks I usually go for.
FAR was started in Medellin by an American. He has now expanded to multiple cities in Colombia, and recently to Puerto Rico. I think their real estate prices are too high, but they offer many options for investing.
For what it's worth, I met with the far group and shortly with its founder in poblado. I was looking at investing in ne of their Laurles buildings. The min to get a visa was 30 k usd. I decided not to invest Only because I had a large tax bill coming in April and need some savings to live off and to stay in mde. They seem honest but to buy a house or condo / apartment they are gringo prices. I have found a local realtor and a lady the does long term furnished rentals.
I have been looking at Airbnb for long term but their cancellation policy in bad. Lose the first month rent! So I am looking at 26 day rentals then renew or move to another.
Short Term rental units For sale - https://www.colombiacasa.com/apartment-for-sale-in-medellin-paris-suites-403?fbclid=IwAR1NIRahDdTHdBb8Ow-2rWbdjdStMhrmCx0Q9NRHE2ZT3vTfUDAEek4Sfd0.
Mojo Bandit
07-28-20, 11:08
Saw this on YouTube thought might be helpful to someone.
"Buying Real Estate In Colombia | Interview With A Real Estate Agent"
https://www.youtube.com/watch?v=N5zZcOy2JEg&t=317s
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.NCal,
You plan on renting it as an Airbnb or longer term rental? What are the rental rates for that type of property and what are the HOA. Maintenance dues?
GeneHickman
11-28-20, 05:20
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.The problem with most of these developing economies is they are perrienially short of greenbacks. So things tend to be one way streets for your $$. Now I am not sure what you financial situation is or even your long term plans for you assets happens to be, however every expat I have spoken with says getting your money out if that, if ever in your plans change would be a hard thing. It is nothing like the relatively liquid and well organized real estate process like we are used to stateside. Add to that Bello and maybe even envigado aren't particularly likely to attract the pool of gringo buyers and you may have a hard to sell property on your hands. Furthermore the market there is certainly saturated with condos. The issue is one of affordability, and there are so few people with the means to buy at these price levels that you have few buyers.
The mortgage market is pretty much non existent the way we have it stateside, and the loans are certainly not ridiculously subsidized by fannie / freddie for US housing. So people are really in a difficult situation with regard to purchasing power.
I have seen that in many other developing economies as well. Now if you have a novia or a kid down there and you plan to pass on those assets that is an entirely different matter.
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.Someone correct me if I"m wrong. Isn't Bello a poor area pretty far north of any action? Not sure why you would want an apartment up there.
Slazenger1
01-25-21, 00:17
Someone correct me if I"m wrong. Isn't Bello a poor area pretty far north of any action? Not sure why you would want an apartment up there.Yes, it's way up north. It's not a bad area but it's quite a distance which is why it's so cheap. But I imagine you could renovate a decent apartment into something pretty nice. But, like you, I'm not sure why you'd want to live up there unless you had to.
Slazenger1
01-25-21, 00:26
The problem with most of these developing economies is they are perrienially short of greenbacks. So things tend to be one way streets for your $$. Now I am not sure what you financial situation is or even your long term plans for you assets happens to be, however every expat I have spoken with says getting your money out if that, if ever in your plans change would be a hard thing. It is nothing like the relatively liquid and well organized real estate process like we are used to stateside. Add to that Bello and maybe even envigado aren't particularly likely to attract the pool of gringo buyers and you may have a hard to sell property on your hands. Furthermore the market there is certainly saturated with condos. The issue is one of affordability, and there are so few people with the means to buy at these price levels that you have few buyers.
The mortgage market is pretty much non existent the way we have it stateside, and the loans are certainly not ridiculously subsidized by fannie / freddie for US housing. So people are really in a difficult situation with regard to purchasing power.
I have seen that in many other developing economies as well. Now if you have a novia or a kid down there and you plan to pass on those assets that is an entirely different matter.I agree with most of this. Regarding selling, if you have the right property. Either because of yield or quality / location. It'll move, and pretty rapidly (pandemia not withstanding, of course). But, generally, I agree with your comments. Realistically, you want foreigners to be in your pool of potential future buyers which pretty much limits you to Poblado and Laureles (for the most part). Poblado is quite expensive now, even with the pandemia. Laureles is also pricey, but much less so than Poblado. I only buy in Laureles simply because I think it's the best part of Medellin by a wide margin. But that's just me. I think it's tough to find things these days that pencil out a decent return unless you're willing to do some major renovations. Like splitting up a 180 sqm unit into 3 or 4 smaller units. And that's work, but it can be done. But I think RE generally in Medellin (kinda like everywhere on the planet) is pricey.
NapataJohn
02-18-21, 02:10
Anyone here bought property in Barranquilla or Santa Marta?
HappyShiva
02-20-21, 15:40
The problem with most of these developing economies is they are perrienially short of greenbacks. So things tend to be one way streets for your $$. Now I am not sure what you financial situation is or even your long term plans for you assets happens to be, however every expat I have spoken with says getting your money out if that, if ever in your plans change would be a hard thing. It is nothing like the relatively liquid and well organized real estate process like we are used to stateside. Add to that Bello and maybe even envigado aren't particularly likely to attract the pool of gringo buyers and you may have a hard to sell property on your hands. Furthermore the market there is certainly saturated with condos. The issue is one of affordability, and there are so few people with the means to buy at these price levels that you have few buyers.
The mortgage market is pretty much non existent the way we have it stateside, and the loans are certainly not ridiculously subsidized by fannie / freddie for US housing. So people are really in a difficult situation with regard to purchasing power.
I have seen that in many other developing economies as well. Now if you have a novia or a kid down there and you plan to pass on those assets that is an entirely different matter.I was in Medellin in January and stayed in San Peters. I saw that They are selling an apartment in San Peters building for approx. 80 K USD. The building is mostly 95% rented and average rent for apartment is $40 to 50 a day. Less 30% management fees. Still a good return on investment.
MedellinLove
01-28-22, 14:42
I am trying to wire money for the purchase of an apartment. I see that xoom or any of the other online companies like western union have limits of 5 k. Anyone have experience with the best vendor to send 70 k? My bank sends the usd to Colombia and then it is up to the receiving bank which is bancocolombia to exchange it into. COP. My wire transfer fee is reasonable at $30 but I am worried about the exchange rate at bancocolombia.
DownLow123
05-04-23, 19:43
For what it's worth, I met with the far group and shortly with its founder in poblado. I was looking at investing in ne of their Laurles buildings. The min to get a visa was 30 k usd. I decided not to invest Only because I had a large tax bill coming in April and need some savings to live off and to stay in mde. They seem honest but to buy a house or condo / apartment they are gringo prices. I have found a local realtor and a lady the does long term furnished rentals.
I have been looking at Airbnb for long term but their cancellation policy in bad. Lose the first month rent! So I am looking at 26 day rentals then renew or move to another.Could you recommend a local realtor to me? I was there two weeks ago looking for apartments to buy and rent in the el poblado area but found barely had the time practicing this hobby. I would like something on the first floor in laurels or a decent 1 br apt I can rent out and el poblado area. Any info is much appreciated.
DownLow123
05-05-23, 12:23
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.
Fellas I am in escrow for a 3 bd apartment 19th floor overlooking the pool. It is in Bello at the new mall they are building out there. My plan is to rent it out as best as I can if it's vacant when I get there it will be my hotel room while I visit Medellin. I'm paying $75 k USD / line of credit / cash. I will put 30%down over 24 months and pay half cash half line of credit for the rest. Early 40's is citizen plan to retire in Colombia. My next apartment will be in Envigado or Poblado feel free to ask any questions.On your home purchase? How did you pay the seller and get funds into Colombia to do so? Is it hard to find people to rent out your apartment due to the location?
Your mailbox is full so I'll post this here.
SamPeter71
10-31-23, 22:32
I am researching to see if it makes sense to buy Condo in Bogota and Medellin.
What area are good for Airbnb Rentals.
What is the price range for 1 bed Condo.
What is the average daily rental.
What kind of return we can expect after maintenance costs (airbnb mgmt fees, monthly expenses etc.).
What is your experience on return, risk, legal challenges anything else.
Idea is to use them when I travel to these cities and rent on Airbnb rest of the time. Hopefully in long term they pay for themself.
Thanks in advance.
SamPeter71
11-16-23, 05:08
Any thoughts?
I am researching to see if it makes sense to buy Condo in Bogota and Medellin.
What area are good for Airbnb Rentals.
What is the price range for 1 bed Condo.
What is the average daily rental.
What kind of return we can expect after maintenance costs (airbnb mgmt fees, monthly expenses etc.).
What is your experience on return, risk, legal challenges anything else.
Idea is to use them when I travel to these cities and rent on Airbnb rest of the time. Hopefully in long term they pay for themself.
Thanks in advance.
I am researching to see if it makes sense to buy Condo in Bogota and Medellin.
What area are good for Airbnb Rentals.
What is the price range for 1 bed Condo.
What is the average daily rental.
What kind of return we can expect after maintenance costs (airbnb mgmt fees, monthly expenses etc.).
What is your experience on return, risk, legal challenges anything else.
Idea is to use them when I travel to these cities and rent on Airbnb rest of the time. Hopefully in long term they pay for themself.
Thanks in advance.Look at Gringo Paisa on FB. The easy money has been made and there is currency risk.
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