Brilliant idea for Ecuador. You're right. They want off the risk and need the cash flow. Well done finding that owner. You've just changed my strategy for looking at beach property...given all the multi-unit properties vs. single units in areas that I believe are attractive. Well done.
After watching I decided because your not talking about a successful transaction but a hypothetical scenario that your just looking for likes on TH-cam. You mention a ten unit project you’re making and offer on. You’re talking about having to seriously explain your convoluted idea to the seller. I know it’s sop for real estate to take months sometimes years to sell in Ecuador no matter the asking price. .Some is due to inheritance laws that are stringent with many heirs involved. Others are from non existence of mortgage loans for foreigners. And there’s a whole myriad of other reasons. Your failure to mention that there is no standard to have comparable home values on sq. ft. or meter in local area anywhere in Ecuador. I mention this because owning real estate for rentals or sales has the same basic matrix to be profitable globally. You also do not mention understanding real estate law from Ecuador and local city or state provinces. Having a well versed civil and real estate attorney is paramount due to real estate law and real estate codes in this give area. I hope people understand the glaring problems you fail to mention in your enthusiastic play to get rich scheme.
Fair. But i think you are thinking like a gringo where money flows cheap and plentiful. In a place like Ecuador someone with a higher priced property may not have the options to sell quickly pther than accept a deal like this, otherwise their property may never move for years! You still have to sell the idea of it tho to the seller, i didnt say it was easy but doable.
After watching I decided because your not talking about a successful transaction but a hypothetical scenario that your just looking for likes on TH-cam. You mention a ten unit project you’re making and offer on. You’re talking about having to seriously explain your convoluted idea to the seller. I know it’s sop for real estate to take months sometimes years to sell in Ecuador no matter the asking price. .Some is due to inheritance laws that are stringent with many heirs involved. Others are from non existence of mortgage loans for foreigners. And there’s a whole myriad of other reasons. Your failure to mention that there is no standard to have comparable home values on sq. ft. or meter in local area anywhere in Ecuador. I mention this because owning real estate for rentals or sales has the same basic matrix to be profitable globally. You also do not mention understanding real estate law from Ecuador and local city or state provinces. Having a well versed civil and real estate attorney is paramount due to real estate law and real estate codes in this give area. I hope people understand the glaring problems you fail to mention in your enthusiastic play to get rich scheme.
Brilliant idea for Ecuador. You're right. They want off the risk and need the cash flow. Well done finding that owner. You've just changed my strategy for looking at beach property...given all the multi-unit properties vs. single units in areas that I believe are attractive. Well done.
You didn't mention the rent that you are proposing to pay the owner. How does that compare with the AirB&B rental income you will receive?
Surely it must be below the $6,500 in revenue from 42% occupancy. Hopefully Mr Second Passport keeps us updated on this one!
Keep us informed about the contracts with this please.
Great video. I will be thinking about this all night.
I would love to try this. I'm not looking to make money but would like to buy a property. How does one go about this?
Se renta con opcion a compra!
How hands on would you have to be with management and what would the bottom line be?
I will look for a short term air bnb rental , one month ,
After watching I decided because your not talking about a successful transaction but a hypothetical scenario that your just looking for likes on TH-cam. You mention a ten unit project you’re making and offer on. You’re talking about having to seriously explain your convoluted idea to the seller. I know it’s sop for real estate to take months sometimes years to sell in Ecuador no matter the asking price. .Some is due to inheritance laws that are stringent with many heirs involved. Others are from non existence of mortgage loans for foreigners. And there’s a whole myriad of other reasons. Your failure to mention that there is no standard to have comparable home values on sq. ft. or meter in local area anywhere in Ecuador. I mention this because owning real estate for rentals or sales has the same basic matrix to be profitable globally. You also do not mention understanding real estate law from Ecuador and local city or state provinces. Having a well versed civil and real estate attorney is paramount due to real estate law and real estate codes in this give area. I hope people understand the glaring problems you fail to mention in your enthusiastic play to get rich scheme.
Would you go for this option if you were selling? I wouldn't!
Fair. But i think you are thinking like a gringo where money flows cheap and plentiful. In a place like Ecuador someone with a higher priced property may not have the options to sell quickly pther than accept a deal like this, otherwise their property may never move for years! You still have to sell the idea of it tho to the seller, i didnt say it was easy but doable.
What area in Ecuador is this?
Did it work???
Hi where is that place I'm wanna go for vacation
Next video, please review the sound. Wind is quite distracting . I like you're idea though. Thanks, Don...
So you can't finance there?????
It's much harder to convince banks to give you money down there.
After watching I decided because your not talking about a successful transaction but a hypothetical scenario that your just looking for likes on TH-cam. You mention a ten unit project you’re making and offer on. You’re talking about having to seriously explain your convoluted idea to the seller. I know it’s sop for real estate to take months sometimes years to sell in Ecuador no matter the asking price. .Some is due to inheritance laws that are stringent with many heirs involved. Others are from non existence of mortgage loans for foreigners. And there’s a whole myriad of other reasons. Your failure to mention that there is no standard to have comparable home values on sq. ft. or meter in local area anywhere in Ecuador. I mention this because owning real estate for rentals or sales has the same basic matrix to be profitable globally. You also do not mention understanding real estate law from Ecuador and local city or state provinces. Having a well versed civil and real estate attorney is paramount due to real estate law and real estate codes in this give area. I hope people understand the glaring problems you fail to mention in your enthusiastic play to get rich scheme.