Real Estate Investing in the USA vs. Colombia
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- Опубліковано 2 лип 2024
- I’ve been a real estate investor for over 15 years, and everywhere I go I can't help but analyze and compare markets… living in Medellin Colombia is no exception.
In today's video I'll be comparing investing in the USA and Colombia and giving my breakdown on which market I prefer and why.
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#medellin #realestate #investing - Розваги
Thanks for the great information . I love this channel
Thanks for the feedback!
Great video, informative, thank you.
You're welcome
Great info Karl!!
Thank you for watching
Great info... cheers from Portugal!
Greetings, thank you. Preciso viagar ao Portugal!
@@Karl__Pierre Great! When you decide to do it, send me a message.. I gladly show you the country...
@@ruyboxe can you please email that to me at info@entplife.com.
@@Karl__Pierre Done... Confirm later if you received it...
got your airplane vid in my recommended.
love the content!
Cool glad you like my other content I plan to cover more aviation stuff as the time comes.
I've been thinking of moving to Medellin in about a year. I hope to see for myself!
Cool have you visited?
@@Karl__Pierre Not yet. But I have friends from Medellin and I think it'd be a great place to spend a year or so to become a proficient spanish speaker.
How are you liking it down there? The weather is lovely year round I hear.
Great video with great information. What is your advice for someone who wants to buy land and built and sell it. Will love to hear your point of view.
Excellent video and information. Im sharing it when people that ask about investing or moving to Colombia.
I’m buying an apartment in Laureles. I plan to provide a room and consolations to first time visitors, targeting single males, primarily for orientation, safety and where to go based on what they want.
I return to Medellin in a few days. It would be great to meet up.
Thanks for sharing! I just got back to the states at Saturday I will be there early February. Shoot me an email at colombia@entplife.com so we can see how to collaborate.
Great video.. Just a quick question: How open are the landlords to allowing renters to airbnb and renovate their property? Also what’s the risk of you setting up an airbnb business and the landlord evicting and taking over the business? It’s an interesting concept and was thinking about this strategy for here in Rome, Italy.
in legal cities they are mixed...if illegal they are against it. I would say airbnb landlord takeover is fairly low risk, to eliminate that risk do what Wal-mart did when that happened to them and go the route of ownership. If you cant afford to own currently rent to rent will be your way for buiding cash and investor confidence. If you really want to try airbnb book a call to plan this business!
Nice!
Thank you! Cheers!
I here I am filling the lack of liquidity in the Colombian market. With better returns then my USA real estate portfolio. With the recent strength and eventually the coming weakness in the USD it will magnify the ROI. I am in Medellin Columbia now till March want to do lunch. We can trade ideas
I be there early February would love to chat
Amazing content. Would you approach real estate investment across all LatAm countries in the same way as in Colombia (i.e. rent-to-rent instead of buying property or BRRRR)? I'm considering Brazil (Rio de Janeiro in particular) and your other video about Ipanema was really helpful!
All depends on the goals and your residential status, I'm currently building a house in RJ so I guess I favor it. But it's a house on the beach in Cabo Frio and it should perform well. I'll do an analysis of that.
I think that only A-countries are applicable for such comparison with US. Australia, New Zealand, Canada, etc
If you want to compare similar countries however I'm comparing what I'm experiencing
Great video, was wondering where you would suggest that a person go to get the initial knowledge of how to invest outside of the United States?
Thank you, Google and UA-cam then find a local real estate agent that is bilingual
Thanks for making this video. When you speak cash flow figures I think it’d be helpful to understand if you’re talking in COP or USD because it most certainly matters. $900 USD in cash flow IS NOT same as $4,361,882 COP. You are right in establishing that both markets are different but value is very different. $4,361,882 is pretty good cash flow on a property if you ask me and you can do a good deal with that money if you’re strategic with it!
How is it different I speak in USD because that is the currency of the viewer
What are the requirements and what is the process for foreigners renting?
Requirements of? Renting as a foreigner requires 6 months deposit on avergae. Most foreigners opt for monthly rentals in airbnb.
like you content ,
Thanks sir
What about other of Colombia though? For example you can get very low prices on property in places like Cali, you can get a decent apartment in a good area for less than $80k
Yes you can however how much can you rent it for. My issue is not with the purchase price but the mortgage options and rate of return when renting the property.
@@Karl__Pierreyes the rent is definitely lower than what you get in Medellin, probably looking at around $400-500, but i get what youre saying. I'm going to be in Colombia this December and looking to get something going whether its rent to rent or buying something but definitely new to the property game there so I really appreciate your videos brother!
Ok so the rent to rent strategy actually does work in Colombia then, my only question left then about this is if the only way you're going to be able to find tenants to pay the jacked up rates is through renting out to Americans.
The reason why I want to know this is because if Americans are the only ones you can make a profit on then it's a risky business because historically speaking Colombian tourism flatulates alot depending on just how safe or unsafe it's been viewed by the public, among other unforeseen factors such as pandemics and the specific ways in which their government handles them.
I've also heard that the Colombian government may soon require you to prove you own the property in order to rent it on airbnb.
You can always find a reason not to do something.
@@Karl__Pierre Fair enough, and I'm not trying to knock you at all, I told you how I follow George Gammon and he's making bank in Colombia doing something very similar to you, so yes, it does work, just have to be cautious.
In Colombia for vacation rentals you need a license to rent (air bnb) ?
Technically yes. But most rentals don't have that. If you're going to run a larger operation I advise you get licensing. It's a simple process.
Could you please do Japan? I would love to see your insight on Japan please
Maybe in 2025 I have no insight into Japan and when I was last there over 7 years ago i didn't even think about calling Japan home.
@@Karl__Pierre i dig it
I have a deal in place but just found out that so can only Airbnb for minimum 30 day. 410million pesos, brand new 1BR in ciudad del Río near poblado. What are your thoughts?
I personally wouldn't do that from an investment point of view but if you plan to get an apartment and want to use airbnb to offset the costs you certainly can. If you want to talk through this plan book a call on my website entplife.com
How do you manage the double taxation in a country without tax treaty with US?
So far I have not fully relocated. Best strategy I would undertake is keep everything in a US corporation and expense out all you can. Draw a small salary for what you can't expense out. Lastly always consult tax attorneys and accountants to guide you.
@@Karl__Pierre so keep all in US LLC but for Colombia you still make money in their land. That is 35% flat for non residents in rental income. Then if you are not fully relocated, there is another income tax on your ordinary income. What strategies to expense and build wealth?
So I'm thinking about moving to Colombia this live, I would love to invest but I have no capital...I'm just trying to start something so I can try and reinvest in the US...is it possible?
I'm not clear on the question.
@@Karl__Pierre Sorry I'm planning on moving to Medellin Colombian to work remotely to save and have capital, is it possible?
I want to buy something in cartagena..i am saving for H2 condo or morros city
Cool whats the budget and are you aiming for residency
@@Karl__Pierre i want to per night with at least a minimum of 2 days of renting but that depends on different factors.. we saved 250k euros now but we need another 50. :)
I have a Colombian friend who lives in Austin, TX. She has 3 condos in Medellin that she rents as Airbnb and does well. She wants me to invest like her, but I'm American, I live in the USA, and I don't speak Spanish. How risky is this for me? I can arrange a translator there and also get help from her, but is there any fear of waking up one day and all your assests you built gone from corruption like in the movies?
Partner with her.
@@Karl__Pierre is it work getting dual citizenship if I don't partner with her? In order to finance money with a Colombian bank? USA real estate is so overpriced I'm just looking for a less traveled avenue to try. Thanks
@troyguilbeaux3570 these are 2 very different questions, first question was should you invest alone in airbnb and this one is regarding citizenship. Without knowing your exact goals it's really hard to advise you on what steps you should take. What I recommend is to book a mentoring call via www.entplife.com
@@Karl__Pierre I'm strictly wanting to invest in Airbnb, but I read the "non-citizens" can get local bank funding. She gave me the bank she used, but I'm thinking they won't lend for that reason. Thoughts?
Hi Carl, what is your plan for managing all these properties as you want to do short stay renting, which is very hands on and every time the service needs to be on point or you are going to get bad ratings and at the same time you are not there. Locals looking out on your properties can cheat you or make it so that they reap the benefits and you get the headaches, like bills upon bills and complaint upon complaint. I am not trying to be negative, just realistic like system you (will) have in play to prevent that you are the sucker who takes all the punches whilst others cherry pick the benefits and leave you with the shit.
I have to imagine that you don't have experience with managing teams or property. People want to be gainfully employed. I find talent capable of management. Most important is the turn over crew that cleans between stays. Currently I have superhost status so whatever it is I'm doing is working. But to simplify:
1 hire outstanding cleaners to turnover between guests
2 self check in procedure
3 automated messages for check in, check out and periodic communications
4 quarterly QA checks this person checks in on any complaint received, the quality of pillows and linens and for any damage not reported by cleaners. Also to check on the overall quality of the turn overs.
Your assumptions of being taken advantage of are really off base. You simply have to hire quality team mates.
@@Karl__Pierre thanks. I have 10 properties my self rented out in my own country. All long stay. Really passive. But with the approach you describe above you can indeed scale up and do short stay in a coordinated way I suppose
@@tonystarkcoins2014 for sure. The cleaners are the key. They are local and get ahead of most issues.
@@Karl__Pierre do you have a video on how you deal with the self check in part? I suppose I could run a business like this as a test in some popular city where real estate is cheap and the possible rental airbnb earnings can be high
@Tony Starkcoins actually yes
It's a video walk-through also shows all essential things and tricks of the house
Your background is interruping your message... 😊 Okay I forced myself to hear you. Have a bless week!
What devise are you using?
@@Karl__Pierre hello. My LG cellphone. I'm at work and I was listening to your message during my break while eating my oatmeal. 😉
@@alionesscanroar623 it helps to know how the background noise and music comes in on other devices some amplify audio differently thanks for the feedback
@@Karl__Pierre you're welcome and thanks for the info. !