Anyone here from Colombia (South America) or with family/friends there??

12 Replies

Hello BP,

I was originally born in Colombia and have lived in the US since I was 8 years old. A few years ago I had the chance to go back and live there for a few years, before moving back to the U.S.

I am getting interested in starting a direct marketing, wholesale, flip operation down there.

Here's why:

1. Recently a world organization (possibly IMF, was listening to radio, cant recall name) placed Colombia as the top country in LatinAmerica to do business, regarding the ease of doing business.

2. They recently signed a free trade agreement with the EU and US, among other nations

3.On the verge (hopefully) of finally coming to a peace resolution with the insurgent group (FARC) that has kept the country in a 40 year old civil war. Colombia spends about 20% of taxes raised to fight this war with itself.

What does this mean... OPPORTUNITY, there is currently a flood of foreign money being pumped into the country creating excessive appreciation.

My family has ownened an apartment in Bogota for a while, in the last 5 years it has appreciated 12% average annually, according to "el tiempo" our version of NY Times, this year this neighborhood will appreciate at 16%.

If someone would like to talk about possible opportunities would love to connect. I honestly don't think there are many people doing direct marketing or anything of the sort. I honestly have not done too much research other than my recent time living there and dealing with my apartment there.

Let's chat!!

I live in Central America, in Panama.  There is HUGE opportunity with very little competition for marketing and for real estate. 

Direct marketing is not possible in Panama because we have NO mail delivery service to any house.  Heck, most houses don't even have an address in Panama.  Does Columbia have mail delivery service?

It is shocking how many businesses don't even have a web site.

You'll also save a lot of money living in Central or South America.  On my Panama web site, I wrote a blog post about the many ways you can save money but I cannot post it on this web site without getting the post deleted.  

My suggestion is to spend a month in Columbia before you make a decision to move.  

Hey Jackie, 

The delivery systems are private, but you should be able to mail, when living in Colombia I used to get mailers from local grocery stores and such and other advertising. This is why I am so interested in looking further into this. I don't think there's many people doing the strategies that you see here. 

I lived in Colombia for three years, 2011-2013. Was great, having my rental there I have gotten to learn a little more and why there aren't apartment complexes there everything is Condos. It all goes because the laws in Colombia are so tenant favored that someone could squat on your property for four years without paying rent and you wouldn't be able to evict them. 

That's why I am looking to do Wholesale or Flips, get in get out!!

Hi Juan

Both my wife and step daughter are from Colombia--and I lived there for a year.  I plan on living there and maybe starting a business there within the next 5 years.  We now live in Florida in Sarasota south of Tampa.  I would be interested in taking to you. 

Take Care,

Alan  

@Juan Maldonado did you ever end up doing in Colombia? Just wondering how it has worked out for you.

@Amit Kal , I live in the US full time. I have not started anything yet over there. I am tempted and believe I have very good opportunities due to my network but RE here in the US has been consuming too much of my time and things are very good here.

Do you have any particular interest in Colombia?

@Juan Maldonado I lived in Bogota for some time but I prefer Medellin to live.

I've been keeping an eye on a handful of properties for sale in Medellin (various areas, none of them special by any means; I just wanted to track them and get context on how the market moves) and here's what I noticed:

1) Not one of the 12 properties on my list sold over the 10 months I have been tracking them

2) The prices seem negotiable 

3) The prices in COP terms have stayed the same over the last year. This, despite the COP losing significant value against the USD over that time inflation (albeit that has been relatively low for the last few years)

4) They all rent for roughly .3% - .5% of the asking price. In that respect, there are no 1% buys that I have seen. Further the lack of low interest rates and long-term financing (to even locals) make investing there a difficult proposition when compared to investing here in the US. 

All this being said, if I do make the move there, I would like to be invested locally for two reasons. 1) I want my local liabilities (i.e. rent, day-to-day expenses, etc.) to pair with cash-flow in COP to avoid FX risk; 2) I do place some slight value on having some hard assets diversified outside of my home country in the United States.

I will make a trip down there in the next few months and plan on meeting with some local brokers. If you have a recommendation, please let me know.

Originally posted by @Jackie Lange :

Medillin is really popular with expats too.  

There is some scare because of the 20,000 cases is Zika virus in Colombia now.

 Heard the same thing. Medillin is a great up and coming city now that Colombia has calmed a bit. 

Hi guys, I have a good network of people with lots of experience in Medellin RE business. Feel free to PM me with any inquiries or to connect. 

currently looking  to buy  land  in/or around Medellin..   if anyone knows of anything please send me a PM

@Fred Ramos , This is a quick way to search what is on the market http://www.metrocuadrado.com/casas/venta/medellin/. This portal is owned by El Tiempo which is probably the largest news paper in Colombia. As for specific agents, I don't really have a contact. 

Saw your in San Antonio, what type of investments do you do there?

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