Feeling challenged, it did not take long to find something really good in Quito.
Having spent the summer here in our North Carolina farm, I was worried. Everyone was telling me that Ecuadorian bargains were gone. The note below sent from a friend in Quito shows that prices have indeed risen. However you also see here that with one brief look I found this very nice 2,500 square foot house with incredible view in the mostupscale valley in Ecuador at an asking price of $40,000. This means you couldprobably own this place for an investment in the 30s. That if rented canreturn up to $6,000 a year!
Merri and I will take a small limited group to Ecuador November 6 to 11.We will look at just three properties, the house included here, a 1,200 acre parcel that we are considering for a realestate development and teak plantations outside Guayaquil. If you areinterested send Merri a note at firstname.lastname@example.org and she will sendfull details.
Here is the bargain I was able to find on my first try.
"Gary: thank you very much for your information on what people are looking for in Ecuador. Certainly this information will help me locating the properties you are looking for.The following property might be of your interest. Please give me your viewpoint. This is a 6 year old house, the problem?? no maintenance at all. Has excellent potential. To repair it will cost no more than 5,000 dollars.Repairs are minor, like the balcony that is damaged. They will have to build a fence, garages if they want. It is located 10 minutes from Quito in Valle de Tumbaco (Tanda). Land size 929sqm, construction 250 sqm, three bedrooms, two and a half bathrooms, kitchen with breakfast room, living room, dinning room. Cost $40,000 This is an excellent property to invest if they want to rent out, you will be able to help them rent it between $400 to 500 a month. This is a very nice place to live, this area is growing very fast. The last time I offered properties/land to your investors the cost p sqm was $30, now they are selling for $60 and $70.
There you have it. A way to live in style on a tight budget. Where in the US can you find a house of this caliber and size in the best part of town for under $40,000? If you can't join us in November and want to enjoy my extend course International Business Made EZ with an emphasis in Ecuador join us for our Quito course January 25-27.
Good global investing!