Thanks for this "follow up". Very informative. Are there any currency restrictions in terms of sending money out of the country? Have you accounted for the cost of converting currency to USD? Can someone open a USD account in Columbia? Maybe open a USD bank account in Panama...
I did not account for the cost of converting currency. Add about 1% each way. Getting money out of the country is not an issue IF you brought the money in legally and made a central bank declaration, which your lawyer should do for you when purchasing the property.
@@TheWanderingInvestor thanks for your response. Do you get the sense that investors who purchase real estate in Columbia leave their profits in the country? Another way of asking my question is - is this type of investment best suited for an investor planning to live in Columbia himself/herself and use the profits from the investment property to live on? Or is it realistic to take pesos out on a monthly basis and convert to USD?
@@TheWanderingInvestor Thanks! I don't want to pry into the arrangement your relative is contemplating, but do you anticipate that person would want to purchase the property in his/her name or set up a company or other investment vehicle to hold the title to the property? All the best, Wolf
All that for a non-leveraged 6% cap... yikes. That same year, so basically 2 years ago, you could have 5x leveraged a US property and made returns north of 100%... Wasn't a smart move man. Apartment doesn't even look nice for $150k, you got scammed, especially for that rate 2 years ago.
Get in touch with Mauricio: thewanderinginvestor.com/services/international-real-estate-services/my-favourite-real-estate-agent-in-medellin-colombia/
Yet another very informative video from the Wandering Investor! Thank you!
Thank you, very interesting follow-up and impressive yield.
Your agent is doing an outstanding job.
Thanks for this "follow up". Very informative. Are there any currency restrictions in terms of sending money out of the country? Have you accounted for the cost of converting currency to USD? Can someone open a USD account in Columbia? Maybe open a USD bank account in Panama...
I did not account for the cost of converting currency. Add about 1% each way. Getting money out of the country is not an issue IF you brought the money in legally and made a central bank declaration, which your lawyer should do for you when purchasing the property.
@@TheWanderingInvestor thanks for your response. Do you get the sense that investors who purchase real estate in Columbia leave their profits in the country? Another way of asking my question is - is this type of investment best suited for an investor planning to live in Columbia himself/herself and use the profits from the investment property to live on? Or is it realistic to take pesos out on a monthly basis and convert to USD?
@@WolfBoehme It’s very realistic to take your money out on a monthly basis.
Most investors don’t live in Colombia.
@@TheWanderingInvestor Thanks! I don't want to pry into the arrangement your relative is contemplating, but do you anticipate that person would want to purchase the property in his/her name or set up a company or other investment vehicle to hold the title to the property? All the best, Wolf
@@WolfBoehme It depends on what people want and their personal situation, but most people buy in their own name or using a local civil trust.
Hope there’s a video coming about the apartment you find for your family member
Nice information bro thanks for the video
3 grand a month? That is mad expensive compare to Costa Rica.
well balanced and, based on my own experience, absolutely realistic
Wow! Amazing investment.. Very detailed video I like it!
Thank you ☺️
I like the price, I hope investing in real estate in Columbia can lead into citizenship.😉
Not anymore, it did offer a great residency with path to citizenship until September. The rules changed.
@@TheWanderingInvestorwhat happend
@@psacards7778 the governemnt changed the rules
It’s COLOMBIA, not Columbia! First rule to get any document approved in there.
Fantastic channel, tks!
Thank you ☺️ spread the word
Very professionnal . Thank you
Thanks for the information. What about income tax on the rental income?
A good accountant can help mitigate a lot of it.
That's quite a solid outcome but What's the Columbian sourced income tax for non-residents, quick search tell me 25%?
A good accountant helps mitigate this
@@TheWanderingInvestor wound you please discuss more about this?
If the party who manages your investment can do source withholding for the DIAN, you should get away with 20% source withholding
What could be expected for an increase in property value year over year?
I don’t know. But as long as the COP depreciates I wouldn’t count on major USD gains. I see it as a yield play.
@@TheWanderingInvestor Thank you for all your content. It's been extremely valuable in planning my exodus from Canada.
All that for a non-leveraged 6% cap... yikes. That same year, so basically 2 years ago, you could have 5x leveraged a US property and made returns north of 100%... Wasn't a smart move man. Apartment doesn't even look nice for $150k, you got scammed, especially for that rate 2 years ago.