Medellin Reports

[QUOTE=SlapShot10;2483617]My contractor guy talked to the lady that owns the penthouse, and told me to just offer her 850 million why ya! 100 million discount. I said, ya that's great, but maybe her asking price of 950 should be 650, then how does my discount look?! I'm going to try to get some lists from realtors to see if I can gauge the market. I'm thinking a penthouse for 800 million + 200 million in furnishing, facelift, etc. Is a decent price for what I'd be getting. I think 3 months a year of rental could be about 12 k USD, as the times I would be likely to rent coincide with the tourism high-seasons, here.[/QUOTE]Using realtors to look for properties for you can be problematic, especially for foreigners. There are numerous websites like FINCARAIZ and others which will have most of the properties for sale in town and all of the SM costs, etc. Buying real estate in Colombia is like the wild west. The sellers will have multiple agents trying to sell their properties and at different listed prices, you will will even see the same properties on different websites with varying prices. Another issue is that there are no escrow companies, this is all handled by attorneys. Lots of gringo's get burnt as a result of not having a good attorney to do all the due diligence, and bringing USD into Colombia is another issue as well.

[QUOTE=TheTallMan;2483641]It has been reported that 80% of every woman in Colombia has accepted money / gifts for sex (prostitution) at some point in their life. I believe this statistic. [/QUOTE]Please cite the source.

P.S. "I read it in a monger forum" or "some monger told me" or "all women are working girls anyway" doesn't count.

[QUOTE=Surfer500;2483669]Using realtors to look for properties for you can be problematic, especially for foreigners. There are numerous websites like FINCARAIZ and others which will have most of the properties for sale in town and all of the SM costs, etc. Buying real estate in Colombia is like the wild west. The sellers will have multiple agents trying to sell their properties and at different listed prices, you will will even see the same properties on different websites with varying prices. Another issue is that there are no escrow companies, this is all handled by attorneys. Lots of gringo's get burnt as a result of not having a good attorney to do all the due diligence, and bringing USD into Colombia is another issue as well.[/QUOTE]I've been waiting out COVID in the US with plans to move to Medellin when things open up and normalize. Haven't felt much of a need, nor saw much value, to speculating to the broader group here as to when that might happen or how many chicas I'm going to make acquaintances with. Once I land, that'll be a different story. Anyways, I've been looking at properties online, mostly on Casacol, to potentially purchase. This was an incredibly helpful bit of information. In about five minutes, I found two properties on each of Casacol and FINCARAIZ with materially different prices (4400 million vs 4035 million, and 2650 million vs 2350 milllion). There are others I recognize on FINCARAIZ, I just didn't immediately find them on Casacol (or LIV or Life Afar). It has given me additional perspective on the purchase situation in Colombia and how I need to be vigilant. Thanks for this, Surfer.

[QUOTE=MrEnternational;2483650]I would think it is more so that in the Latin American culture people tend to live with family until they are married, hence the love motels. I have had no problems staying at the houses or apartments of chicks that did happen to live alone.[/QUOTE]Ok, then let me switch perspective.

You are a well navigated man, with years of experience in both Asia and Colombia and Latin America. You are not married. You do not live with family nearby. You enjoy your spare time.

Then, Mr. E. , should you live your regular life in Medellin for at least one year if not longer, would YOU take your uninterrupted flow of paid girls, from all barrios of Greater Medellin, TO YOUR OWN HOME APARTMENT??

I bet you would not, even should you own all the condo and nobody else would live there. You are too intelligent and experienced to need me to explain why. It would be just crazy.

These have been very informative posts. My thought has been leasing a place for a year. I don't plan to be there year round but I would like a place in the laureles estadio area with security. The girls don't have to know I have it for the year This way when I leave to go back to the USA there is no issue. As far as they are concerned I left which is true. When I get back and I want to see them I just tell them I am at the same place again. They don't need to know your personal schedule. I have been working remotely since March. I probably will be doing so for the foreseeable future so as long as I have good WiFi In a safe area I am in heaven.

[QUOTE=Surfer500;2483662]This is a real issue that I have some experience with, albeit nobody will be emptying out your apartment in front of the Porteros while your absent. Having a nice place with all the amenities and wanting to party with Chicas you like in your place is hard to resist and in the past I have been very cautious and hence have ended up in the Love Motels frequently over your very concerns. And as far as the Love Motels, there okay for a few hours and an occasional overnighter, but sparse on amenities. Anyone considering buying an apartment in Medellin should think twice about buying in a building with no Portero's. I have a friend who bought a place in Laureles and is frightened to bring Chicas there for all the reasons you mentioned, albeit he does on occasion, but is looking to move over your concerns.[/QUOTE].

[QUOTE=Surfer500;2483664]Mr. E lots of guys don't roll like you on this board. They like having Chicas in the confines of their apartment versus using the Love Motels. I'm a switch hitter, I do both as appropriate and where I feel comfortable depending on whom I'm with.[/QUOTE]I'm trying to get a feel for which buildings (with AirBnb listings) in Medellin with porteros tend to be more permissive (read: lax) about allowing numerous random visitors without making too much of a headache for us. Does anyone have shareable intel? I tend to stick to Poblado but even a little further south in Envigado might be worth checking out.

Sidenote: I've had zero issues bringing visitors to my room while staying at several hotels in Poblado (Intercontinental, Affinity, BH, Holiday Inn, Binn).

[QUOTE=Surfer500;2483669]Using realtors to look for properties for you can be problematic, especially for foreigners. There are numerous websites like FINCARAIZ and others which will have most of the properties for sale in town and all of the SM costs, etc. Buying real estate in Colombia is like the wild west. The sellers will have multiple agents trying to sell their properties and at different listed prices, you will will even see the same properties on different websites with varying prices. Another issue is that there are no escrow companies, this is all handled by attorneys. Lots of gringo's get burnt as a result of not having a good attorney to do all the due diligence, and bringing USD into Colombia is another issue as well.[/QUOTE]This is definitely a concern of mine. Comparing it to my Vegas condo, this deal is fantastic. Maybe 60 k USD less, 3 more bedrooms, same quality view, similar amenities (although the gym and pool in Vegas are much better / bigger), monthly rental income should be double, or more, here. I had a realtor in my current rental, today, telling me 2 billion pesos for what I'm looking for. Made me smile about this other deal I'm in on. When I explained it to her, she asked if she could come see it with me. She was obviously trying to weasel in, somehow.

I checked out the penthouse, today, in-depth. Took a contractor over and a couple friends. The owner wants to sell quickly, and even explained she could lower the "sale price" to help with the taxes, then I could give her cash. She's a tax attorney, so maybe it's worth looking into. It would take a lot of work to make this place a combination of a home and a great gringo penthouse rental. I think we had some great ideas, today, though.

Anyhow, if anyone has purchased property here, I'd love to get a PM and discuss. I can do all the research on Google, but it's always nice to hear it from some one else that has the experience. My friend who is very artistic came over and said she couldn't live there because it's too elegant, but she thinks it would be a paradise for renters. That kind of hit home, and I will need to put some thought into how to make it comfortable, without taking away from the rental potential. No shared walls, two-stories with the huge new jacuzzi upstairs. It really is a renter's paradise. I have a feeling SJobs and I will be coordinating our calendars at some point in the future.

Tall Man, I fucking LOVE the anticipation of when you will drop the Abercrombie & Fitch reference in your posts. You're killing it! Such a great setup, and I'm sure you'll be telling stories of 2020 for years to come.

1. I try my best to stay away from giving advice about marriage or real estate unless it's urgent. Please slapshot, please do your best to forget about your Vegas condo and condos anywhere beyond greater Medellin when you are negotiating real estate deals in Medellin.

2. +1 about the Abercrombie & Fitch references. They would not resonate with me even back in the early 1990's when I lived in America. They are easier me to ignore than continuous repetition that "she is white". It is veering well past the personal preference / obsession range into the disappointing and problematic Grand Wizard zone. I don't doubt there is a cohort of Stormfront and 8 chan lurkers on here but they co-exist peacefully by staying on topic.

[QUOTE=SlapShot10;2483722]This is definitely a concern of mine. Comparing it to my Vegas condo, this deal is fantastic. Maybe 60 k USD less, 3 more bedrooms, same quality view, similar amenities (although the gym and pool in Vegas are much better / bigger), monthly rental income should be double, or more, here. I had a realtor in my current rental, today, telling me 2 billion pesos for what I'm looking for. Made me smile about this other deal I'm in on. When I explained it to her, she asked if she could come see it with me. She was obviously trying to weasel in, somehow.

I checked out the penthouse, today, in-depth. Took a contractor over and a couple friends. The owner wants to sell quickly, and even explained she could lower the "sale price" to help with the taxes, then I could give her cash. She's a tax attorney, so maybe it's worth looking into. It would take a lot of work to make this place a combination of a home and a great gringo penthouse rental. I think we had some great ideas, today, though..[/QUOTE]

[QUOTE=BlackPage;2483705]Then, Mr. E. , should you live your regular life in Medellin for at least one year if not longer, would YOU take your uninterrupted flow of paid girls, from all barrios of Greater Medellin, TO YOUR OWN HOME APARTMENT??

I bet you would not, even should you own all the condo and nobody else would live there. You are too intelligent and experienced to need me to explain why. It would be just crazy.[/QUOTE]When I say it out loud and common sense tells me it is a dumb idea. But experience tells me there is no problem with it. I do it in Thailand and I did it when I was in Rio. The vast majority of my friends in mongering destinations do it. I can count on one hand the guys I know that live somewhere without a significant other that only take chicks to motels. And nobody has a bad story about it yet. My best friend in Medellin brings them 2 at a time to his place.

Funny that I would not do it at my place in the States where I have security cameras (even pointed at my bed) and tons of guns, but I would do it overseas where the only protection I have is an electronic security door. Make that make sense.

[QUOTE=PlayerHater;2483710]I'm trying to get a feel for which buildings (with AirBnb listings) in Medellin with porteros tend to be more permissive (read: lax) about allowing numerous random visitors without making too much of a headache for us. Does anyone have shareable intel? I tend to stick to Poblado but even a little further south in Envigado might be worth checking out.

Sidenote: I've had zero issues bringing visitors to my room while staying at several hotels in Poblado (Intercontinental, Affinity, BH, Holiday Inn, Binn).[/QUOTE]I think it's the owners that make the rules. Porteros will handle it how the owner wants.

Most of the airbnb's that I have stayed in in Medellin were not guest friendly. In fact, all that I have actually booked through Airbnb have been guest "unfriendly".

If I'd have considered buying a condo out of capital I can walk away from at any time, then maybe do it through a Panamanian corp. Never tell anyone you own this corp, just say you lease the condo. Girls go to motels only, do as locals in LA do. Please decouple this decision from a visa, you don't need a visa anyway. An honest answer why do you need to purchase real estate is a must, better in writing with numbers attached, and once you do it, usually the purchase makes no sense, you get illiquid property, pesos instead of dollars etc.

[QUOTE=Zeos1;2483760]Most of the airbnb's that I have stayed in in Medellin were not guest friendly. In fact, all that I have actually booked through Airbnb have been guest "unfriendly".[/QUOTE]All of my times in Medellin have been the total opposite. I have mainly stayed at the Soul Lifestyle Apartments (Poblado) and the San Peter (Laureles). They need a cedula and that is it.

[QUOTE=Knowledge;2483727]1. I try my best to stay away from giving advice about marriage or real estate unless it's urgent. Please slapshot, please do your best to forget about your Vegas condo and condos anywhere beyond greater Medellin when you are negotiating real estate deals in Medellin.[/QUOTE]Care to elaborate on this? My point was the equity sitting in Las Vegas for a place I'm not at full-time, and can only rent out with a 12-mo lease, could easily be moved into this penthouse. Nonetheless, I'd be interested if you have more information or opinion to share on the topic.

[QUOTE=Questner;2483773]If I'd have considered buying a condo out of capital I can walk away from at any time, then maybe do it through a Panamanian corp. Never tell anyone you own this corp, just say you lease the condo. Girls go to motels only, do as locals in LA do. Please decouple this decision from a visa, you don't need a visa anyway. An honest answer why do you need to purchase real estate is a must, better in writing with numbers attached, and once you do it, usually the purchase makes no sense, you get illiquid property, pesos instead of dollars etc.[/QUOTE]The visa is directly tied to the idea of being here more than 180 days in a year. An investor visa, which is far less in terms of the capital amount, has certain restrictions such as the inability to leave the country for more than a 6-month period. In case of an emergency at home, or all out chaos in Colombia, I would prefer the 2-year window. It also converts to citizenship after 5 years, which has the amazing benefit of going to Russia without a visa! Ok, I haven't really considered the benefits of dual citizenship, yet.

The illiquidity, pesos, etc., makes sense. However, if I'm living here, and can make a 2-3% ROI while living in the unit 9 months a year (more if I was flexible about leaving any time I got a good offer), it would be ok. Then, add in potential appreciation, strengthening of the peso, added value in the remodel, etc. And maybe it makes a bit more sense. I don't know. It's definitely going to take some more thought and planning, but on the surface it seems to be a good deal.

If it turned into simply an investment, and was making $18-20 k per year, it would be solid. Of course, getting the money out in a pinch would be a hassle.

I appreciate the thoughts. I'm soaking it all in, for now, as I go through my due diligence.

[QUOTE=SlapShot10;2483798]Then, add in potential appreciation, strengthening of the peso[/QUOTE]The recent history has not been kind to peso. Do you think Colombia opens up is due to the pandemic under control or for economic reason?

[QUOTE=Nounce;2483869]The recent history has not been kind to peso. Do you think Colombia opens up is due to the pandemic under control or for economic reason?[/QUOTE]Lazy typing. That was not to say it would happen. It could go the other way, of course. I just meant to say it is a possibility that could have a positive (or negative) effect on the value.