I bought a Penthouse in Medellin, Colombia

[@TheWanderingInvestor]

📌 Get in touch with Mauricio: thewanderinginvestor.com/services/international-real-estate-services/my-favourite-real-estate-agent-in-medellin-colombia/ 🇨🇴 Full analysis of the Medellin real estate market: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/

[@josephr9851]

OYE PARSERO YOU HAVE MONEY THAT SO GOOD LETS MEET WE LIKE TO GIVE YOU A SPECIAL TOUR ESTACION METRO POBLADO 7PM FRIDAY BE CAREFUL MANY FORGINERS BEING HURT WE WILL TAKE CARE OF YOU SEE YOU SOON BUSCAMOS ESTE TIPO

[@frankthecapitalist]

Please make a follow-up about the renovation. I want to know about the process and the problems you encounter there. Congratulations on your acquisition!

[@TheWanderingInvestor]

@@frankthecapitalist thank you. Will do 👍

[@Medellinmatchmaker]

Probably one of the most complete and informative videos I’ve seen!! Thanks for this.

[@johnanthanjamesjohnson]

Man, I love this city and since I've been here, I don't wanna leave.

[@harvwallbanger1896]

Realistic price finally. 165,000/247 = 668 psm. The scammers on facie are trying to sell for four or five times that!

[@rdee8652]

Good luck with the project.

[@senaimesfin8763]

Well this is incredibly surreal. I've been following your blog for a few years now and this was my home while I lived in Medellin during the pandemic. You landed an absolute steal. Congrats!

[@TheWanderingInvestor]

@@senaimesfin8763 thanks. As in the exact apartment? 😳

[@senaimesfin8763]

@@TheWanderingInvestor Yup, that exact apartment. Seeing you walk around my old room felt a little violating haha.

[@TheWanderingInvestor]

@@senaimesfin8763 haha hilarious. You’ll like the remodeled version 👍🙂

[@senaimesfin8763]

@@TheWanderingInvestor Looking forward to it. If you can, make sure to add decent sound insulation. The worst part of working from that apartment were the planes flying overhead from EOH.

[@tdaveniii]

I hope you can revisit this in a year and report how the renovation went, as well as how occupancy and rents actually worked out for you.

[@TheWanderingInvestor]

@@tdaveniii will do 👍

[@craigstrachan7046]

See this is how I can tell you are a serious investor who happens to do KZbin rather than a KZbinr working the "finance/international real estate/travel" niche. You make the buy, do the reno, film along the way, and wait until everything is done and dusted before uploading rather than rushing to get it up for views. Looks like (another) great buy, btw. Congratulations!

[@TheWanderingInvestor]

@@craigstrachan7046 Thank you 🙏

[@RFXZ67966]

A 9% return in a developing market is a bit risky. Higher returns could be achieved on the S&P500 or investing in short term rentals in developed countries. It is also worth noting that Colombia has 39% income tax so we'd need to see the net income to make a real comparison.

[@aahsimovieprojects]

@@RFXZ67966 I agree with your thoughts entirely. I'm from Miami but live here in Medellin, and have been here for a number of years. I personally prefer to rent. I feel I can get a better return and that my money is much safer being invested in the US. That's not to say there aren't some great opportunities here.

[@UndefinedLastName]

Good purchase ! seeing Looking forward to post reno video 🇨🇦

[@TheXavierJ]

Great video, subbed! 🇨🇦

[@jgm3620]

great investment, I love your apartment with great ideas of renovation

[@SteveHawthorne]

Overall a great video. Lots of information. I'm a little suspect on the 92% occupancy rate, especially for a monthly rental property. Looking forward to seeing the completed renovation and update on the numbers.

[@BrianPhobos]

Congrats! A lot of value and you know these various markets. Keep us in the loop

[@dovygoodguy1296]

I'm amazed that the skies in Medellin are so clear because I thought that Medellin has so much air pollution!

[@TheWanderingInvestor]

@@dovygoodguy1296 it was a good day :)

[@davidkyle2073]

Depends where you are in Medellin. Laureles has a pretty solid canopy of tree-lined streets that purify and cool the air. No major street thoroughfares either so large polluting trucks aren't frequent.

[@aahsimovieprojects]

it does. I don't live in Laureles or any lower elevation neighborhoods for particularly that reason. I couldn't stand the horrible air quality and heat. I moved higher up on the mountain and I feel and breathe so much better.

[@dovygoodguy1296]

@@aahsimovieprojects Is Pereira significantly cooler and with far less pollution??

[@aahsimovieprojects]

@@dovygoodguy1296 I wouldn’t say much cooler and the city in general is subpar compared to Medellin. If you want ideal weather check out alto de las palmas, el retiro, and llanogrande. Close enough to the city but the benefits in terms of air quality, cooler temperatures, and lack of noise pollution make it well worth it. I don’t like to go out and party so I just need somewhere tranquil without a lot of noise, good wifi to work, crisp clean air, and a comfortable climate. In Laureles or Belen I’d be sweating by midday and gasping for air from all the pollution.

[@StuartD-g4i]

Comeon everybody don't get suckered into real estate in Medellin or Colombia, I'm Australian and lived in Colombia for 7 years, The Market here is way overpriced all over Colombia. The US economy is tanking right now so wait until it flows to every other country, i just sold my high end apartment in Febuary in Manizales, Stay away from Medellin, Be smart, Propertys will tank here as well,, Cash will be King very soon....

[@dgrolfe]

Exactly what I've been writing on all of these Medellin Realtor's channels. Gringo pricing in Medellin is outragous. You will not get the ROI you think... I live in Pereira and bought 5 hectares for only US$80k.

[@datravels]

beautiful location. Missing Medellin and plan to visit in November. Look forward to seeing your investment remodeled. Congratulations.

[@eelfood]

Freakin LOVE this channel.

[@TheWanderingInvestor]

@@eelfood thank you 🙏

[@mva6044]

Absolutely. Underrated to say the least! No nonsense, inherent entertainment value but by the same token little to no fluff.

[@inlovelyblue]

Ouch, I do better on yields in Lima. With brand new apartments off the plan that I don't need to renovate. And I'm not restricted on Airbnb rentals like Colombia.

[@nimashafiee7836]

Do you have a channel ?

[@inlovelyblue]

@@nimashafiee7836 nope. Not at the moment. But I’m about to film my next key exchange and then furnishing that next apartment this Monday. So might have content soon.

[@Pelusacollective]

Yeah ok but in Lima no comparison to Medellín

[@boblimits753]

So funny!! From Texas, I check the AC box. And only AC show up.. then they try to sneak in a portable unit 😀 But it does get hot in Medellin these days as opposed to 8 years ago my first visits..

[@EGoldman]

Temperatures in medelling have been decreasing

[@richard09able]

Generally giving direct financial access to books/ financials is not done. CPA or attorney certified copy or professional certified copy of the books / financials can be done imo.

[@dgrolfe]

What are the estimates for all that renovation? Have you checked on the weight of all the water in the jacuzzi against the structure of the building? Renovation, with raising the roof, will add another $80k - $100k....and take a lot longer than you think. Not getting any ROI during that time.

[@dovygoodguy1296]

From watching Ladislas's very interesting videos all I can wonder is how he can enjoy all those great locations with so many of them worldwide?! If I am correct, he has properties in Turkey, Serbia, Albania, Mexico, El Salvador, Colombia, Egypt, Panama..... did I miss any??😊😊😊

[@Resmith18SR]

He's got more money than Elon Musk.😂😂😂

[@dovygoodguy1296]

@@Resmith18SR And a heck of a lot more intelligence than Elon Musk.

[@aquariusacademy]

ambitious plans. good luck

[@juliandx4632]

Merci pour ton contenu! j'y pose bientôt les valises, medellin est un must ! d'ici 1-2 ans j'aurais les moyen et tes vidéos sont d'une aide précieuse.

[@TheWanderingInvestor]

@@juliandx4632 merci 🙏

[@jessejesse6390]

make sure to have the roof inspected before your renovate

[@TheWanderingInvestor]

@@jessejesse6390 yes. There were a few issues we had to sort out.

[@ColombianCode]

At those rates it will take you a LONG time to break even, unless you plan to flip and resell quickly 💯

[@realsamuelhawley]

Excellent video! And some attractive numbers. Looking forward to the follow-up to see what the place looks like now.

[@TheWanderingInvestor]

Thanks Samuel

[@hardstyle8184]

I miss mi amor Medellin ❤

[@dairsensi]

Cool video. The cloudyness of the screen from the lens being dirty was killing me though.

[@TheWanderingInvestor]

@@dairsensi 🫤

[@Calipeixegato]

WOW! $165K that that penthouse??? I just knew you were going to say that place cost $250K-$300K. At $165K, that's just over $64/sq. ft., which is an amazing price. I mean, all in at $247K with full upscale renovation, hot tub, fully-fitted co-working space, etc, you're only at $95/sq. ft. Would you still get a good Cap rate on a smaller unit, say 100 sq. mt. 2BR/2BA apartment? Or do the cap rates scale up as the size of the apartment increases? Also, how "hot" is the Medellin market right now, particularly in Laureles? Are properties "flying off the shelf"? Or is it a more level-headed market where you can take your time and really analyze each property before deciding whether to make an offer?

[@TheWanderingInvestor]

@@Calipeixegato You generally have time to analyse the market properly before making an offer. Liquidity is not through the roof at all. This article captures quite a lot of the points: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/

[@TK-ne2yo]

Great video. Life goals.

[@cryptolatino9220]

Nice crib Bro'!

[@user-rw718]

I would love to sell my home in new York city that's paid off and buy an apartment in Colombia to live out the rest of my days. Unfortunately Colombia ruined the investment visa. I can't live with the uncertainty of obtaining a one year visa each and every year never knowing if they will approve the visa for each up coming year. Never obtaining residency is a tough place to invest especially if your planning on living there full time. That's a Beautiful penthouse you purchased anyone who understands construction understands 167k was a bargain for that apartment. Congratulations

[@TheWanderingInvestor]

@@user-rw718 thank you. I would not worry about this too much. There are always ways to get into Colombia. Don’t let relative uncertainty crush your dreams. Go for it.

[@mva6044]

Same concerns. I would have to buy together with my brother, whose wife is Columbian and he's getting the citizenship process started based on that.

[@marshallleo6589]

@@mva6044 I went through this in Malaysia. I had a property located and planned to live in the country and they ruined the investment visa and they are still ruining it more and further each new year.

[@Tagg25]

I would think you don’t need to sell in order to finance one for Medellin….you could probably do a cash out refinance…to take some money out then rent it out to get more income

[@user-rw718]

​@@Tagg25I'm 51 years old I don't have kids the truth is I don't really care about making extra income. The next 20 years I'm going to focus more on spending. I never understood why people without kids want to die with all there money saved in the banks so when you die your money dies and the banks take it. I wish god sent me a postcard with the exact date my life will expire because I want to die dead broke

[@LUCKHEF]

Good content 🙏🏽

[@antoniodelrey164]

I’ve seen the building many times. Are there other apts to rent for a month? I always stay in Laureles and vendors on La 70 recognize and greet me every time that I walk it which is a few tiles a day.

[@GMacII]

I knew from the brick and the way the building faced that this was near Centro. Really good area. Are you renting per door or entire penthouse? @TheWanderingInvestor

[@pierre-edouardginape1840]

Great video with a very clear breakdown! However, it would be helpful to also gain insight into how you managed to purchase so many properties-whether through private financing, mortgages, or outright cash. This would give a better understanding of whether such investments abroad are feasible for average people like me.

[@TheWanderingInvestor]

In Colombia as a foreigner it’s all cash 👍

[@dylanhall3417]

Is it best to purchase personally or do you do so inside a Colombia SAS corp?

[@TheWanderingInvestor]

@@dylanhall3417 99% of transactions happen in people’s own name in Colombia

[@FreddyPoveda]

Good luck with that investment. 9% requires 92% occupancy rate which it is possible today that Medellin is hot but how about 10 years from now ? . Airbnb became saturated in a lot of markets… I don’t known… too much risk in my opinion. I hope it works long term for you.

[@martikaarellano1]

What do you think Lad about the short term rental market in Medellin, specially about all the new buildings coming up for airbnb? Knowing that the price per sq mt is higher in those projects compared to older buildings with no license for STR. Thank you

[@TheWanderingInvestor]

@@martikaarellano1 the market is slowing down for STR

[@pierrefromes9417]

To take exposure to Colombia without local leverage, not easier to buy a Colombia stock market ETF which gives 10% gross and 7-8% net tax with better risk-liquidity adjusted return ?

[@TheWanderingInvestor]

@@pierrefromes9417 Sure. This is just an option for those who want real estate specifically. I personally have both Colombian real estate and stocks

[@MRZE506]

wow what a home run on this deal 165k$ plus maybe 20-30k rehab with a cashflow of 2500-3000 a month is really good. only concern i have is the raise of xenophobia and anti foreigner in medellin. but still that is a home run of a deal

[@rodrigoquiroz8816]

The people who plan on buying a property in Colombia should be aware of the government ideology which its leaning to a socialist type of government. At this time I wouldn’t invest anything in my home country.

[@Camistone09]

U are gay

[@vandervampi]

Stop spreading bullshit.

[@juancontreras859]

Can you provide more details

[@rola4721]

Can you make remodeling process video and finished product.

[@TheWanderingInvestor]

Will do yes

[@ramyshedid]

Hate to burst your bubble. I live here in Medellín, the area you are in is not technically Laureles. It's either San Joaquin or Conquistadores. So after rennovation your talking about a billion cop. No way your gonna get a billion pesos in that area. At the current rate your lucky to get 2400 usd in gross on that place . Even that ideally, you won't break even for 12 years. The issue is all these foreigners are coming here without knowing all the bs you gotta deal with and the Colombian culture which alot of foreigners cant handle. I'm all in, but I would bet half of these places are gonna be on market with in 3-4 years. The only people making money are those who bought pre or during the pandemic. Its only worth it if you plan on living here. Good luck!

[@besonegro-md3oo]

boom they are late to the party

[@faffie1978]

I you like places to invest where you also like to actually go, it’s Meddelin. And not Lima or so

[@graalinvestment]

How is this project going?

[@TheWanderingInvestor]

@@graalinvestment the renovation is complete. Will eventually do a follow-up video

[@RFXZ67966]

What tax will need to be paid on this income? How much would a similar property cost to buy new?

[@TheWanderingInvestor]

Taxes I touch on this topic here: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/ New in this area, $1,800 per m2

[@LifestyleUnlimitedUSA]

Want to colab? I am in medellín. I bought a penthouse recently too.

[@pierre-henrirobert6511]

Comment expliques tu le nombre hallucinant d appartement en vente, je suis sur Laureles, il suffit de marcher pour voir dans chaque rue des appartements mis en vente...

[@TheWanderingInvestor]

@@pierre-henrirobert6511 low liquidity market and a culture of putting for sale signs

[@allykhan8594]

Renal Tax? ROI?

[@activ8me3]

Quite safe, needs no guard, right in Medellin. Beautiful terraces where I see only tiny balcons. Big rooms I feel claustrophobic in. All bundled in a sincerely depressing layout. Luckily, a superior US citizen will live with infinite TV's and bathrooms enjoying the boring prime view - and not me.

[@nampmaljr9294]

Cash on Cash after renovation? What about bldg admin rules for short term rentals? Finally what about liquidity if you want to sell?

[@TheWanderingInvestor]

@@nampmaljr9294 no short term rentals allowed: only 30 days or more. Liquidity: it would take a few months to sell such a unit, probably about half a year.

[@nampmaljr9294]

​@TheWanderingInvestor Thanks for the response!! I read your excellent macro - micro article, well thought out, and I agree I wouldn't go all in ...... what percentage of your net worth would you deploy? No more than 10% ?? Final question, thoughts on areas near the airport like Rio Negro?

[@TheWanderingInvestor]

@@nampmaljr9294 Percentage of net worth I can’t say - too personal and dependent on so many factors. Rio negro is great for lifestyle but not great for Airbnb / mid term rentals.

[@T___Brown]

Since they redid parque lleras, laureles is fairly dead compared

[@williedavirtualflipper]

Did you get financing or you bought it cash! I'm thinking abt buying sum thing.

[@TheWanderingInvestor]

Cash market in Colombia

[@GregorySloanCLUChFC]

Buy Medellin? Seems risky for a illiquid low return.

[@1433443]

Excellent video, got yourself another sub! I have a rental in Ontario just outside Toronto with equity I’m looking to deploy. Are these all cash plays or can you get financing ? Also will you manage the airbnb process or outsource and do you expect capital appreciation in addition to the cash flow? Thanks!

[@TheWanderingInvestor]

@@1433443 Thank you. 1. No financing available locally 2. Mauricio and his team do the property/Airbnb management 3. At these prices I absolutely expect capital appreciation

[@jh6392]

Something tells me that Mauricio "is" the partner you mentioned.

[@Pelusacollective]

That terrace looks suspicious not enough water drainage good luck reworking modifying roof with body corporate it Pitched for a reason

[@laszlosarosdi5417]

So, is the price 165 or 265? I am a bit confused

[@TheWanderingInvestor]

@@laszlosarosdi5417 $165k unrenovated

[@drwayne_carter9115]

To live, sure. As an investment, risky. You are at the mercy of the Colombian government, the Colombian economy, the Colombian peso, and the building infrastructure. Much safer and likely better returns putting that money into the S&P50p or even Bitcoin.

[@micomarinas2753]

is there any gated subdivision or village in Medellin with a guard house that protect it's residence?

[@TheWanderingInvestor]

@@micomarinas2753 yes. Lots of gated communities.

[@ContractorFirm-g8r]

How long is the construction time?

[@TheWanderingInvestor]

@@ContractorFirm-g8r 8 months

[@juanbasto9289]

Did you Buy all cash or did you get financing?

[@TheWanderingInvestor]

@@juanbasto9289 no financing available locally for foreigners. All cash.

[@jaqmaiakovskaya2303]

You said purchase price 265k, then in the picture it was 165k ?

[@TheWanderingInvestor]

@@jaqmaiakovskaya2303 $165k purchase price

[@bananacy]

Do you buy the properties in your name or through a company? Curious about your structure. I bought in playa del carmen mex 10years ago and plan to do more next year around the world. Got inspired by your videos!

[@TheWanderingInvestor]

Thanks. It depends. No set rule.

[@christophermcguire3208]

Please adresss the road noise or you will get crushed on the reviews. It was so loud!

[@davidkyle2073]

Circular 3 is in Belen, no?

[@эфирэфирович]

This is a bold project! Keep us informed!

[@marcelagalofre7467]

Careful with the renovations: so expensive. Think for a while: your renovation cannot be 50% the value of the property seeing the current status of the apartment. They are overchraging you!!!

[@MEK71]

Amazing property

[@joelfaulk]

Great idea. Great price. Would love to know if this business plan could work other places.

[@Ana-cw1pe]

Be careful with the LEAKING😂😂😂. Happens with last floors😮😮

[@charlesjordan5989]

hey, saw this video several months ago, just curious if you are going to do a video of all the upgrades done, im thinking of moving to south america, thanks

[@TheWanderingInvestor]

I will yes 👍

[@martinbrambley]

hi, a couple of days ago I used the contact form on your website and emailed mauricio directly. ive had no reply are they working?

[@TheWanderingInvestor]

@@martinbrambley yes they are. Will follow up 👍

[@dovygoodguy1296]

I hope Lad gives us a look at Pereira too.....!!

[@domenicdapice7218]

I live 6 months a year in Pereira. Cerritos is where all the gringos buy. But what I don't like is gringos buying to rent cause of their gringo rental prices. And that really pisses off the locals. I live in Gamma . I just hope not too many gringos do what they did in Medellin.

[@dovygoodguy1296]

@@domenicdapice7218 ........

[@rehrbar]

Australien, American or Canadian dollars?

[@TheWanderingInvestor]

@@rehrbar USD, what else?

[@rehrbar]

@@TheWanderingInvestor I am so sorry, from Switzerland but have lived in Canada many years so naturally Canadian dollars come to mind. Although they are getting pretty worthless.

[@TheWanderingInvestor]

@@rehrbar 😅

[@allykhan8594]

39% rental tax, is that right?

[@TheWanderingInvestor]

More info here in the article: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/

[@soundslight7754]

Have you considered splitting into 2 or more units? You'd increase your client pool substantially

[@TheWanderingInvestor]

@@soundslight7754 Good point. Hard to do legally and I prefer having something unique.

[@soundslight7754]

@@TheWanderingInvestor 👍

[@АлександрШохнин-о9н]

Is it possible to buy apartment there for $40000-80000? And clear roi 8%?

[@TheWanderingInvestor]

@@АлександрШохнин-о9н Tough

[@jimmyjohnson7883]

You would be lucky to get 6% but you would need to be on top of things. It is not a set it and forget it type of deal here. If you try to convert your profits back to dollars then you get even less. The S&P 500 gives a return of about 7.4% over decades. If you have the patient's to deal with Colombians and their work ethic to renovate a house then great. 😂

[@yellowjoe.2000]

Too much risk. buy bitcoin and S&P 500 Index fund. call it a day. Colombia peso currency risk can wipe out all your gains easily. Medellin property market could easily crash.

[@jonathanmichaels8331]

Land of Frito Bandito - political situation changes over night

[@TheWanderingInvestor]

@@jonathanmichaels8331 yes. I would not go all-in Colombia

[@jackwalker9492]

Medellin is a slowly sinking ship. Too many foreigners now. Crime rate is skyrocketing and over time will kill the tourist market. Colombia has many great places and if somebody wanted to make a fortune, bring an electrician, carpenter, painter etc because these people cant even install a lock the right side up. FYI, over a decade here and while Colombia is great, its not the fantasy land its portrayed as

[@user-rw718]

If I had to guess I would say you are broke. Only broke people think like this to make themselves fell better. Medellin isn't going anywhere it will only grow in time. Colombia is not unsafe it's unsafe for people that get involved with drugs and prostitutes.

[@snipertrader4131]

This is a good investment you have to think long term where Medellin will be in 10-15 years. Tourist just discovered that they can even travel to Colombia in 2020 before that most people wouldn't have even thought to step foot in Colombia with its prior history. If we were talking about Mexico 15 years ago we would be having the same conversation. Medellin is a gold mined for real estate

[@user-rw718]

@@jackwalker9492 it's fantasyland if your bank account is filled with cash. 🤣🤣🤣🤣🤣 Colombia is like free living especially for new Yorkers where a pack of cigarettes cost 100,000 pesos

[@jackwalker9492]

@@user-rw718 There is much truth in what you say, but I think you value money too much. All kinds of thieves and liars trying to steal from you at every opportunity is not a happy life. I had it better as I grew up with my first job shoveling horse shit and was grareful as hell for the opportunity. The Knee Growaz be callin dat White Privilege (and sheehit. Add dat to any sentence dey speak in da welfare line)

[@jackwalker9492]

@@user-rw718 Yeah right. I have lived here for about 15 years and really think advice from some abject tool like yourself is something to be admired.

[@Canadianpatriot2024]

How much does it cost.

[@эфирэфирович]

What are the charges for the management of the premises on booking etc?

[@TheWanderingInvestor]

@@эфирэфирович 10% for mid term and long term rentals

[@ezingles698]

North America digital nomads are broke😮😅😊maybe for a young entrepreneur or young Escobar😅

[@KeepingItRealBro]

Lol wtf we're neighbors now, welcome to San Joaquin, I live across the street. I mean, it's your concept and all, but there's literally a co-working space next door. I only spend a few weeks per year in my place, but I would've freaked out seeing the famous Ladislas running around the Circular while I was on the balcony. You've paid much less p.sqm. than I did for my place definitely, but my ceilings were regular sized at least.

[@TheWanderingInvestor]

Drinks next time I’m in town are due neighbour 😉🍻

[@martikaarellano1]

@@TheWanderingInvestorso your appointment is in San Joaquin? Maybe this is why the sqm price was pretty low

[@TheWanderingInvestor]

@@martikaarellano1 San Joaquin, Laureles, yes

[@martikaarellano1]

@@TheWanderingInvestori lnow the sqm in San Joaquin is lower than laureles, but it’s interesting you see now more people investing there

[@kennethmoore-cq7bj]

20 year resident of Colombia and the party is over,you are 15 years too late!

[@eddiebrazil5340]

You’re out of your mind. First of all, you’re buying a property in Laureles , not Pablado . Secondly, you're spending a total of $300K, broken down as $250K and $50K Reno. Most people I know in Poblado have a nicely furnished three-bedroom apartment for $250K, and their take home is around $1,000 per month, which adds up to $12,000 annually only which is the rate of return of less than 5%. You'd be better off putting that cash somewhere else or in a Colombian bank and earning a 12% interest rate.

[@positivetimeline]

Are there chemtrails present as well? It appears that there are several of them in the sky.

[@TheWanderingInvestor]

@@positivetimeline yes

[@francesco6275]

80,000$ for renovation is a complete rip off..

[@jimmyjohnson7883]

And that's why it is hard to sell because they have so much money tied into it in the end. Many people become process out once the project is finished. The young foreigners with money are having a hard time getting a Visa now. No more resident Visa from purchasing property.The old retired foreigners usually don't have money to spend because they can barely make it off of their social security checks. I know a guy who owns an apartment here and he was not let into the country because he couldn't get a visa and he overstayed his 180days.

[@rashaddancer]

10k foreign service fee billed into that

[@BennyLC79]

What about cost of insurance?

[@TheWanderingInvestor]

@@BennyLC79 busy getting quotes

[@johnboon5330]

Not to discourage but this is the worst time to invest in Colombia. Petro is in his path to become the country into a comunism place. Your investment will worth close to nothing in a few years if not expropiated by the government!!!

[@rashaddancer]

What a negative Nancy 😂

[@sion123ful]

80k is ridiculous for the renovations, you are being charged the gringo tax

[@TheWanderingInvestor]

@@sion123ful high end renovations always cost more than you think

[@DigzGuy]

I think you're being fleeced on the renovation budget!

[@TheWanderingInvestor]

@@DigzGuy quality renovations are always more expensive than you think.

[@davidanalyst671]

Are you trying to get paid in Pesos or Dollars? Go back 10 years on the peso, and you will have some issues, because if you want your money back, you have to be in this for 10 years.

[@TheWanderingInvestor]

@@davidanalyst671 10 years of cash flow yes. That’s about right.

[@germantobon5498]

Correct way to pronounce is Medejean

[@darkzealotjg]

Wtf so many people from the us come here and buy things! what the hell!

[@drwayne_carter9115]

Because many foreigners like Colombians come to the US and drive our prices up, it's only fair that we return the favor back to you.

[@simamalca9895]

don't ever buy in Colombia !!! you really have to be stupid to make pesos with dollars , mo one will ever buy it back, the pesos lose value in the last 20 years !!! I did that error !!! DO NOT BUY , after living in any place in Colombia , after 1 year you will leave ( rent until you had enough ) anyone buying will lose their money 100%

[@jimmyjohnson7883]

You have a good point. I personally know 4 foreigners out of 5 who could not sell their places. And years have gone by and they still have not sold them. It would be good if you have a family to be stable, but for an investment opportunity it is better to go with the stock market, ETFs or even bank CD'S.