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.
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 RU-vid. 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.
After watching I decided because your not talking about a successful transaction but a hypothetical scenario that your just looking for likes on RU-vid. 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.
