Rental Properties In Medellin, Colombia

Selecting A Property Manager For Your Overseas Rental

One of the most rewarding things you can do abroad is to manage a rental. I find it enjoyable to get to know an area, pick the property, and outfit it for the rental market.

And managing a rental is also a good source of income… while sometimes also providing that income stream in another currency.

Aside from being a landlord, I’m also a fan of renting a furnished apartment for any extended stay in a foreign country, since it’s the best way to get to know a place. So I’ve got experience as both a landlord and a frequent tenant, allowing me to see both sides of the coin.

Being a landlord is not always fun. But having a good property manager can make your life a lot easier… and having a good contract with your property manager makes your eventual success far more likely.

The property manager is your representative when dealing with your renters… Continue reading

9 Questions To Ask Before Ruling Out Planned Communities

9 Questions To Ask Before Ruling Out Planned Communities

Checklist For Those Who Hate Gated Communities
Plus: IRA Properties—Should They Be In A Trust Or Corporation?
Every year, I speak with hundreds of potential expats at events, and I get thousands of emails from people considering moving to Latin America. Most say that they would never consider living in a gated community overseas… especially an expat-oriented one.Their arguments are good ones—and almost always the same. Because when we consider moving abroad—dreaming of moving abroad—much of the appeal has nothing to do with practical issues… the allure of overseas living has more to do with adventure, excitement, and a rich cultural experience.

And the best way to get that experience is to be part of the local culture… not to be part of a North American enclave.

So the vast majority of potential expats say the same thing: They would not consider a planned community favored Continue reading

Tips On How To Buy Property Overseas

My First Big Property Mistake And How You Can Avoid It
Plus: Which Is The Best Section Of The Ecuadorian Coast?

A number of years ago, I bought a terrific property in Vilcabamba, Ecuador, from a friend. It was a good-sized parcel of land with a simple home and a guest cottage… and over 150 feet of river frontage. With a bounty of tropical fruits, coffee plants, and surrounded by beautiful mountains, it was a real paradise.

After a couple of years and much Spanish study, I got around to actually reading the title. What I discovered was that I hadn’t actually bought the property outright, but rather I’d bought shares of an inheritance from four descendants of the original owner. And to make matters worse, I wasn’t completely sure if I’d accounted for all the descendants…

One of the trickiest aspects of property investing overseas is verifying that you’ve got a clean title. In North America, this is something we take for granted. But overseas, ownership laws vary from one country to the next and can even vary between regions of the same country.

So before my next property purchase, I decided to get smart about titles in Latin America.

Continue reading

Here we cover the four best bargain real estate markets, including: Mexico, Colombia, Chile, and Brazil.

Best Bargain Real Estate Markets

Plus: Is It Worth The Hassle To Buy Abroad With An IRA?

Nov. 24, 2015
Medellin, Colombia

1 U.S. dollar equals:

  • 3.77 Brazilian reals
  • 3,040 Colombian pesos
  • 16.73 Mexican pesos
  • 701 Chilean pesos

Dear Overseas Property Alert Reader,

Over the past few months, you’ve heard a lot about the amazing bargains that the strong dollar has created in some of the world’s top markets.

And during this time, I’ve received a number of emails from people who are trying to sort through the facts related to some of these markets in an effort to focus on one or two of them.

Reviewing data is one thing. But there are other factors that go into making a country a good buy as a second home, an investment, or a place to retire.

So today, we’re going to let the top most-heavily-discounted markets go head-to-head, pointing out some advantages Continue reading

Beachfront Condo With Guaranteed US$15,000 Annual Return

After 14 years of traveling and scouting properties in 17 different countries, there are not many countries left where I try to combine a real estate scouting trip with a vacation… at least not on the second or third trip.

But I just realized this morning that we’ve vacationed in Nicaragua four times now. Almost every time I went to Nicaragua on assignment, we’ve combined it with a vacation.

And it’s hard to explain the attraction.

Nicaragua offers some of the world’s largest lakes… a pristine Caribbean coastline… beautiful Caribbean islands… cool mountains… and hundreds of miles of sandy Pacific beaches.

But it’s more than that. And it’s more than the super-low cost of living, or easy residency, or any of those practical items.

Nicaragua and its people also convey a welcoming feeling—a comfortable feeling—that I don’t quite find anywhere else. No matter how many times I go, I look forward to getting there… and I’m sorry to leave.

A month ago, we talked about an area that offered reasonably priced beach properties, in Nicaragua’s Masachapa. This is one of my favorite beaches in Nicaragua, and the presidential beach home is located there.

But Masachapa, and its lifestyle, are not for everyone.

This is because the properties in Masachapa are in a rural, local seaside neighborhood rather than Continue reading

This beautiful countryside hides Italy’s best values

An Undiscovered Part Of Italy With Excellent Property Prices

Plus: What Happened To Europe?

Like the rest of Italy, Abruzzo has history, art, and delicious cuisine, as well as beautiful scenery that will change with the seasons. But because this region remains relatively unknown, prices are lower than in many parts of the country, which makes Abruzzo one of the best values in Europe today.

With 82 miles of white sandy beaches, the high peaks of the Apennines, and everything in between, Abruzzo is an undiscovered paradise that unites all of Italy’s best features. I’ve lived here for more than 24 years now, and I can tell you first-hand that there’s nothing quite like Abruzzo; it’s unique in Western Europe.

In Abruzzo you’ll discover ancient towns and enjoy their traditional festivals, explore endless national parks, go cycling through a wide variety of environments in the region, go skiing in one of the 22 ski resorts, or simply relax by the sea on our beautiful beaches.

Located on Italy’s eastern coast overlooking the Adriatic Sea, Abruzzo is the greenest region in Italy. We have three national parks and one regional park, and we are home to 75% of the species of fauna that live in Europe—almost 40% of our territory is under environmental protection to guarantee their survival.

Based on where you are in Abruzzo, you will find different climates. The seaside has a typical Mediterranean climate, with hot and dry summers (temperatures can go higher than 100°F) and mild winters with minimum nighttime temperatures of 48°F. But if you are up in the mountains, winters are cooler and snow is not unexpected as the temperatures go below the freezing point. Summers in the mountains are warm (around 86°F) with a pleasant breeze to keep things comfortable.

Pescara, L’Aquila, Chieti, and Teramo are the main cities that claim different parts of the territory. Pescara, the biggest city in Abruzzo, is on the sea and is the most modern of the main cities. It has good connections with all of Italy as well as ferries that cross the Adriatic Sea, bound for destinations such as Croatia. Continue reading

Some Of Brazil’s Best Property Buys Are At The End Of This Bridge

Plus: Maceió…Are You Stupid?

US$1=R$2.24 Brazilian reais

Dear Overseas Property Alert reader,

The Brazilian city of Natal is marked by its miles-long crescent beach, protected by a giant dune that shelters it from the onshore winds. The adjacent waters are calm, clear, warm, and fairly shallow.

The cafes, restaurants, and nightlife are renowned throughout Europe and Brazil, and right now, the property prices are great by any standard.

Here in Natal, there are three things that should get your attention right now…
aside from this week’s World Cup matches.

There's a new bridge There’s a new bridge, which has now made a beautiful stretch of coast easily accessible to the city. This isn’t your standard fabled bridge—a staple of property developers around the world—but one that’s completed and in service. Broad, sandy beaches that were once more than an hour away are now within 15 minutes’ drive.

 

They've just finished a new international airport They’ve just finished a new international airport within the past month, which will greatly increase domestic and international passenger and freight capacity. This new airport is just north of town…and connected to the city by the new bridge.

 

the U.S. dollar is strong now against the Brazilian real Finally, the U.S. dollar is strong now against the Brazilian real, which has rolled the prices back to approximate 2009 levels…giving us all a second chance to get in on some great property deals that are now more affordable.

Natal is the capital of the Brazilian state of Rio Grande do Norte—the closest state to Europe—and it’s very popular with vacationers and expats from Europe and the UK.

The world-famous sand dunes and beaches of Genipabu lie to the north—on the other side of the new bridge—while the postcard-perfect beach town Praia da Pipa sits to the south. In between, there are a number of smaller towns and areas popular with tourists and expats. As you tour them, you’ll see that some seem very homey…while others are more touristy.

Natal is billed as one of the sunniest cities in Brazil, with more than 300 days of sunshine per year. Most of the rainfall comes between March and July, with April being the wettest month. The driest months are from August through February. Continue reading

Rental Properties In Medellin, Colombia

Rental Properties: A hassle-free income or a stressful nightmare

Plus: Where investment yield properties can establish residency

June 3, 2014
Medellín, Colombia

Operating a rental property abroad can provide you with a nice income stream—perhaps a non-dollar income stream—with little hassle on your part. But it can also be a stressful experience that brings headaches and disappointing yields.

And there’s one major factor that often makes the difference between these two scenarios: the property manager.

A good property manager can bring you a high occupancy, provide reliable bill-paying, screen your tenants, manage any maintenance, and deliver money to your bank account…while you can keep your distance and watch.

The difference between property management and rental management
Years ago in Buenos Aires, an agent took the time to explain the difference between “rental management” and “property management.” Or to put it another way, the difference between a “rental agent” and a “property manager.”

A rental agent is responsible for keeping your property occupied. They’ll do marketing, find you a renter, do any required screening or qualification, supervise check-in and check-out, and verify that nothing’s missing when the tenant leaves.

A property manager takes care of running the property. This typically includes things like paying the utility bills, paying the taxes, and performing any required maintenance.

Many property management companies offer both services. And when they do, ideally, they’ll have a separate fee structure for each service. This will be a real advantage in cases where you find the renter yourself (and only want property management), or when you can easily take care of the property yourself and only need someone to find and manage renters. Continue reading

Four investment options in this expanding market

US$1=1,904 Colombian pesos

Dear Overseas Property Alert reader,

Capital gains of 10%…rental income of another 6%…and developer co-investment returns of up to 22% annually. These are the numbers that caught my attention for this property in Bogota.

Let me give you the details.

Colombia is the third largest economy in Latin America, after Brazil and Mexico. It’s one of the few countries in the world that sustained positive economic growth during the Great Recession, with a forecast GDP growth of 5% this year—better than the United States, UK, Europe, Mexico, or Brazil. Inflation is at a record-setting low: just 2.19% for 2013.

Significantly, Colombia has a rapidly expanding middle class—probably the most important macro element of any market you’re considering investing in. The number of people in Colombia’s middle class jumped 56.1% between 2002 and 2012, and is forecast to rise another 83% during the next 11 years, through 2025.

So Colombia offers the investor a growing economy with an expanding middle class.

Bogota is the growth engine of Colombia
Bogota alone contributes a huge 24.5% of Colombia’s total GDP, yet still maintained its own GDP growth rate of 4.1%.

International attention continues to focus on Bogota. In fact, the number of multinational corporations in Bogota went from 492 to 1,423 in the 10 years through 2012. That’s a 289% increase.
Continue reading

Prelaunch offer with 0% financing on the Riviera Maya

Plus: Can I live here for US$730 per month?

All properties in this article are priced in U.S. dollars.

I’m writing today to tell you about a limited-inventory opportunity that just came onto the market. If you’re interested, you can save up to 25% (as much as US$30,000) as an Overseas Property Alert reader—if you’re among the first 15 cash buyers.

This offer will be sent to readers of Overseas Opportunity Letter next week, but I wanted to extend it to you first, before it went to the general population.

The opportunity is a prelaunch offer for the Los Árboles Cobá project. The project is located on Mexico’s Riviera Maya on the Yucatan Peninsula, south of Cancun.

Los Árboles Cobá is a sustainable, off-the-grid community, which nonetheless offers amenities like high-speed Internet, phones, and satellite TV. The lots are large tracts of old-growth jungle with very low development density—less than 15% of the property.

Note that when I use the term “sustainable, off-the-grid” I’m referring to a property that can function without any connection to public utilities, located in an area with an all-year growing season.

Los Árboles Cobá will appeal to those who enjoy a lifestyle among nature and wildlife, in a home that will function comfortably with no connection to the outside world. It will also appeal to investors looking for an early-in, special offer with resale in mind.

I like the project for four basic reasons:

  • The market in this area is performing well, and has been for several years.
  • The nearby sister project of Los Árboles Tulum was a popular seller, has a number of homes constructed with North Americans in residence, and made money for early buyers.
  • The developer has a solid track record of success for this type of project.
  • The entry point for buyers and investors is low—less than US$37,000.

Let’s take a look at the details. Continue reading