📌 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/
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
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!
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 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.
See this is how I can tell you are a serious investor who happens to do RUclips rather than a RUclipsr 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!
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.
@@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.
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.
This really depends on where you're buying. Laureles is really cheap. Not the same buying an apartment in Utah than Manhattan. I've seen apartments in Bogota go for 5000psm on luxury buildings and that's the real price, not people trying to scam.
serious renovation required , I would take all these walls done and make it a 3 bedroom at the most. It’s got potential but not sure the market is there for the tech scene anymore. Personally, I would hate to have this going on in my building as it would definitely affect my comfort level and decrease value. Blowback could be an issue.
Agree, neighbors are not going to be happy having 5 guys working and partying in the penthouse. Not sure I want to live and work with a group of 4 either…
Neighbours are a major issue...envy can lead to cruel attacks...plus a bunch of foreigners in a big apt can quickly lure muggers...80.000 US renovation costs?...that s a proper small apt...also not calculated the inflation of the peso, which transforms a sale quickly into a loss... additionally, bigger apt are very difficult to sell...it can take you literally years...as the local market in general isn t moving a lot apart from some motivated gringo adventurers, who are looking for a quick buck, you also have to consider a bust of the real estate bubble, which in my humble opinion is overdue... plus preferred destinations can change quickly...I have seen many hip barrios in Medellin changing their status due to different reasons...btw, I have been around since the 90s...
Just reached out, I would like to know what is out there, in Medellin now and want to buy middle to end of this year. Paragliding in Bello was scary and fun
I remember seeing that apartment 3 years ago. I even took a video. I believe they were asking 600 mil COP at that time. The issues were the low roof on the 2nd floor. Dealing with the contractors in Colombia can be a mess. So, I decided to skip that big renovation. It had great potential with the correct renovation. I'm sure you will do a great job with your knowledge.. I Can't wait to see the final renovation video. 👍
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.
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 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.
@@TruthPapi this article here has a lot of information: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/
The Medellín housing market will soon crash there so much inventory & less demand. Investor are overpricing the value of the APT & rent. 5 year ago was the perfect time but not now ! It’s risky , just hope it works out for you .
Being that it’s a penthouse be aware of potential roof leakage into apt. And the maintainence cost for housekeeping will be very high for 5 apts jacuzzi and several bathrooms.
@@riverplateequities5444 Thank you. I used Felipe, he was brilliant. Ask Mauricio for an introduction: thewanderinginvestor.com/services/international-real-estate-services/my-favourite-real-estate-agent-in-medellin-colombia/
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.
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 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.
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??😊😊😊
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.
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.
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..
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.
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 ?
I’m worth 23 million usd from real estate and have been going to Colombia for years and would never consider buying shit in Colombia. Why when I can buy in the USA and make more and use that money for fun. 165 is not a good deal and he’ll love to charge gringo fees for renovations. Just clown work. Laureles is a shit hole too. I played tennis in el estadio for years and giggle at these clowns.
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.
My goal and should be all Americans is to have a place in like a Colombia and your own country. Make that American money and live like a king in Colombia. Yes there are many risks, I been coming to Colombia since 2009 and lived here for 6 months one time…
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
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
@@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.
@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?
@@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.
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
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
@@GeeGee19 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 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.
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
@@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
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
Congrats for the investment! Don´t even try to take down a wall in a building, it may collapse. That is not draw wall. Funny thing about low ceilings and how everything must be design for Americans lol. I would never buy a penthouse because it receive all the sun and the water. Too much money for that estrato. Can´t to see the remodeling.
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...
Hope it works out. I would be wary of investing in a country where there is a risk of nationalization of private property owned by foreign nationals. I don’t think it’s likely but socialism is fairly rampant in South and Central America and it is in the realm of possibilities.
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!
Hi, I’ve been traveling to Medellin for the last seven years and have a property already in mind to purchase from a Colombian friend, for 750 million. I’m selling a property in New Jersey, and wanted to move about 250 thousand two Colombia. How is this done? I went to Citibank in El Poblado, which is my bank here and they looked at me like I had two heads . Didn’t even want to get involved.
@@Tony-x4d8r It’a absolutely crucial to register the property clearly. You need a lawyer to help you or else you will run into issues: thewanderinginvestor.com/services/international-real-estate-services/real-estate-lawyer-in-colombia/
@@zeus12393 To do less than 30 days, you need either a commercial license or the approval of everyone in the building. 30 days + is a normal lease according to Colombian law.
Being that it’s a penthouse be aware of potential roof leakage into apt. And the maintainence cost for housekeeping will be very high for 5 apts jacuzzi and several bathrooms. Bad investment
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....
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.
@@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.
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.
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. 😂
📌 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/
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
@@TheWanderingInvestor my advice to you. If u buy Make 2 separate apts out of the 1 penthouse. 2 penthouses out of the one
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!
@@frankthecapitalist thank you. Will do 👍
@@TheWanderingInvestor Any updates? Would love to see what the penthouse looks like
@ x.com/wander_investor/status/1825948141612577157?s=46 Full occupancy.
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!
@@senaimesfin8763 thanks. As in the exact apartment? 😳
@@TheWanderingInvestor Yup, that exact apartment. Seeing you walk around my old room felt a little violating haha.
@@senaimesfin8763 haha hilarious. You’ll like the remodeled version 👍🙂
@@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.
Probably one of the most complete and informative videos I’ve seen!! Thanks for this.
Woww that's an awesome purchase , it will be very profitable.
Congratulations🎉🎉🎉🎉. I love my city
See this is how I can tell you are a serious investor who happens to do RUclips rather than a RUclipsr 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!
@@craigstrachan7046 Thank you 🙏
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.
@@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.
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.
I would be afraid of a decline of tourism because of crime increase.
Realistic price finally. 165,000/247 = 668 psm. The scammers on facie are trying to sell for four or five times that!
This really depends on where you're buying. Laureles is really cheap. Not the same buying an apartment in Utah than Manhattan.
I've seen apartments in Bogota go for 5000psm on luxury buildings and that's the real price, not people trying to scam.
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.
@@tdaveniii will do 👍
serious renovation required , I would take all these walls done and make it a 3 bedroom at the most. It’s got potential but not sure the market is there for the tech scene anymore. Personally, I would hate to have this going on in my building as it would definitely affect my comfort level and decrease value. Blowback could be an issue.
Agree, neighbors are not going to be happy having 5 guys working and partying in the penthouse. Not sure I want to live and work with a group of 4 either…
Neighbours are a major issue...envy can lead to cruel attacks...plus a bunch of foreigners in a big apt can quickly lure muggers...80.000 US renovation costs?...that s a proper small apt...also not calculated the inflation of the peso, which transforms a sale quickly into a loss... additionally, bigger apt are very difficult to sell...it can take you literally years...as the local market in general isn t moving a lot apart from some motivated gringo adventurers, who are looking for a quick buck, you also have to consider a bust of the real estate bubble, which in my humble opinion is overdue... plus preferred destinations can change quickly...I have seen many hip barrios in Medellin changing their status due to different reasons...btw, I have been around since the 90s...
If you ever want to come visit Viña del Mar, Chile, let me know, I will give you the big tour!
@@nelsoncorley3182 thank you 🙏
Freakin LOVE this channel.
@@eelfood thank you 🙏
Absolutely. Underrated to say the least! No nonsense, inherent entertainment value but by the same token little to no fluff.
Man, I love this city and since I've been here, I don't wanna leave.
Congrats! A lot of value and you know these various markets. Keep us in the loop
Cement decks earthquake region very dangerous Need to inspect thoroughly check for cracks on decks could pancake down below
Just reached out, I would like to know what is out there, in Medellin now and want to buy middle to end of this year. Paragliding in Bello was scary and fun
Good purchase ! seeing
Looking forward to post reno video
🇨🇦
beautiful location. Missing Medellin and plan to visit in November. Look forward to seeing your investment remodeled. Congratulations.
I remember seeing that apartment 3 years ago. I even took a video. I believe they were asking 600 mil COP at that time. The issues were the low roof on the 2nd floor. Dealing with the contractors in Colombia can be a mess. So, I decided to skip that big renovation. It had great potential with the correct renovation. I'm sure you will do a great job with your knowledge.. I Can't wait to see the final renovation video. 👍
@@jansonpena417 Haha nice. Thank you. The roof issue was sorted out: x.com/wander_investor/status/1825948141612577157?s=46
Great job.. Very Beautiful.. maybe you can do a future brake down on the final renovation numbers. Keep up the good work👍
I'm amazed that the skies in Medellin are so clear because I thought that Medellin has so much air pollution!
@@dovygoodguy1296 it was a good day :)
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.
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.
@@aahsimovieprojects Is Pereira significantly cooler and with far less pollution??
@@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.
Would like to understand differences in margin between short term vs. long term rentals
@@TruthPapi this article here has a lot of information: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-medellin-colombia/
The Medellín housing market will soon crash there so much inventory & less demand. Investor are overpricing the value of the APT & rent. 5 year ago was the perfect time but not now ! It’s risky , just hope it works out for you .
just one point. No mortgage . You can get leverage in your own country. Other than that numbers are phnenomenal!
Being that it’s a penthouse be aware of potential roof leakage into apt. And the maintainence cost for housekeeping will be very high for 5 apts jacuzzi and several bathrooms.
Excellent video! And some attractive numbers. Looking forward to the follow-up to see what the place looks like now.
Thanks Samuel
Good luck with the project.
Great Video and Thank you. How do you approach the renovations? Project Management? Contractors ? Etc
Thank you
🙏
@@riverplateequities5444 Thank you. I used Felipe, he was brilliant. Ask Mauricio for an introduction: thewanderinginvestor.com/services/international-real-estate-services/my-favourite-real-estate-agent-in-medellin-colombia/
changing the roof seem like a tough job can't wait to see how it goes
@@dj2000lbs It went surprisingly well
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.
In Colombia as a foreigner it’s all cash 👍
At those rates it will take you a LONG time to break even, unless you plan to flip and resell quickly 💯
How long do you estimate it would be for a ROI?
Great video, subbed! 🇨🇦
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.
@@juliandx46 merci 🙏
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.
Do you have a channel ?
@@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.
Yeah ok but in Lima no comparison to Medellín
Good stay there we are fed up with you gringos
Great video. Life goals.
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??😊😊😊
He's got more money than Elon Musk.😂😂😂
@@Resmith18SR And a heck of a lot more intelligence than Elon Musk.
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.
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.
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..
Temperatures in medelling have been decreasing
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.
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 ?
@@pierrefromes9417 Sure. This is just an option for those who want real estate specifically. I personally have both Colombian real estate and stocks
make sure to have the roof inspected before your renovate
@@jessejesse6390 yes. There were a few issues we had to sort out.
I’m worth 23 million usd from real estate and have been going to Colombia for years and would never consider buying shit in Colombia. Why when I can buy in the USA and make more and use that money for fun. 165 is not a good deal and he’ll love to charge gringo fees for renovations. Just clown work. Laureles is a shit hole too. I played tennis in el estadio for years and giggle at these clowns.
That penthouse font look lixurious at all.... Ho to barranquilla and youll se what penthouse really looks like
Where you finding deals like this . All these Medellín real estate agents are ripping off gringos on instagram
ambitious plans. good luck
Buy Medellin? Seems risky for a illiquid low return.
Good content 🙏🏽
You can pick up a house in Venezuela for 15k these days too
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.
My goal and should be all Americans is to have a place in like a Colombia and your own country. Make that American money and live like a king in Colombia. Yes there are many risks, I been coming to Colombia since 2009 and lived here for 6 months one time…
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
@@martikaarellano1 the market is slowing down for STR
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
Cool video. The cloudyness of the screen from the lens being dirty was killing me though.
@@dairsensi 🫤
great investment, I love your apartment with great ideas of renovation
I miss mi amor Medellin ❤
Are you able to get a loan for investment properties in Medellin? Or is the only way to buy property in Medellin is by cash?
@@andrewsegura3078 cash only
Cash on Cash after renovation?
What about bldg admin rules for short term rentals? Finally what about liquidity if you want to sell?
@@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.
@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?
@@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.
Nice crib Bro'!
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
I would still buy in Poblado, and not buy in Laurales.
Love Medellin - but you got to watch out for the scopolamina
Can you make remodeling process video and finished product.
Will do yes
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
@@GeeGee19 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.
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.
@@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.
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
@@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
This is a bold project! Keep us informed!
The size of the apartment, the neighborhood doesn't make sense to your target market. Poblado is quiet and cheap.
What tax will need to be paid on this income? How much would a similar property cost to buy new?
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
Congrats for the investment! Don´t even try to take down a wall in a building, it may collapse. That is not draw wall. Funny thing about low ceilings and how everything must be design for Americans lol. I would never buy a penthouse because it receive all the sun and the water. Too much money for that estrato. Can´t to see the remodeling.
@@AR-vd8xs Thank you. Remodeled penthouse: x.com/wander_investor/status/1825948141612577157?s=46
At what point is a building in Medellin considered old... Too old to renovate?
@@daltonshin no strict answer to this. It all depends on price and location.
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...
@@pierre-henrirobert6511 low liquidity market and a culture of putting for sale signs
Do you have to buy all cash or bank loan?
@@alexbetancourt281 When investing as a foreigner in Colombia you need all cash. No local bank lending to foreigners.
Renal Tax? ROI?
Going to reach out to your realtor, I want a nice condo for snow bird living
@@CryptoDreams-tq9ze Nice 👍👍
Hope it works out. I would be wary of investing in a country where there is a risk of nationalization of private property owned by foreign nationals. I don’t think it’s likely but socialism is fairly rampant in South and Central America and it is in the realm of possibilities.
@@gregs8685 Even in Venezuela they did not nationalize people’s condos. I don’t see this as a risk at all.
Make sure building allows Airbnb.
@@AntonioQ-e4t 30 days + rentals. No Airbnb.
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!
boom they are late to the party
is there any gated subdivision or village in Medellin with a guard house that protect it's residence?
@@micomarinas2753 yes. Lots of gated communities.
Hi, I’ve been traveling to Medellin for the last seven years and have a property already in mind to purchase from a Colombian friend, for 750 million. I’m selling a property in New Jersey, and wanted to move about 250 thousand two Colombia. How is this done?
I went to Citibank in El Poblado, which is my bank here and they looked at me like I had two heads . Didn’t even want to get involved.
@@Tony-x4d8r It’a absolutely crucial to register the property clearly. You need a lawyer to help you or else you will run into issues: thewanderinginvestor.com/services/international-real-estate-services/real-estate-lawyer-in-colombia/
You would need a broker based in the US that can bring over the money in a regulated way, so you can qualify for a visa after your purchase
Is it best to purchase personally or do you do so inside a Colombia SAS corp?
@@dylanhall3417 99% of transactions happen in people’s own name in Colombia
I am in Medellin now and there is something for everyone. It’s not all whores and drugs. There are also other cities too.
Circular 3 is in Belen, no?
Any updates on the renovation?
@@JC.LC. Done. And the place is fully rented out.
@TheWanderingInvestor nice. What's the average month gains, and did you get a video of how it came out?
@ $3,300 or so for a one year lease: x.com/wander_investor/status/1825948141612577157?s=46
Nice video , i m new to this still starting , can i buy something with 50 k and renovate in el parado ???
Too small a budget to do anything worth doing, sorry.
Can someone explain why he isn’t allowed to rent for less than 30days?
@@zeus12393 To do less than 30 days, you need either a commercial license or the approval of everyone in the building.
30 days + is a normal lease according to Colombian law.
Wait, did you buy that from George Gammon?
@@mccoyji lol
Being that it’s a penthouse be aware of potential roof leakage into apt. And the maintainence cost for housekeeping will be very high for 5 apts jacuzzi and several bathrooms. Bad investment
I you like places to invest where you also like to actually go, it’s Meddelin. And not Lima or so
How long is the construction time?
@@ContractorFirm-g8r 8 months
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....
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.
Want to colab? I am in medellín.
I bought a penthouse recently too.
Hey bud! You should move to Viña del Mar, Chile! Much better city and great for expats! I am starting a real estate agency to attract expats.
Be careful if there is bars and dance bar walking distance from that penthouse. because at night you will not sleep
@@coco9004 Thanks. Far enough that you don’t hear them.
Did you get financing or you bought it cash! I'm thinking abt buying sum thing.
Cash market in Colombia
How is this project going?
@@graalinvestment the renovation is complete. Will eventually do a follow-up video
Australien, American or Canadian dollars?
@@rehrbar USD, what else?
@@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.
@@rehrbar 😅
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.
Did you Buy all cash or did you get financing?
@@juanbasto9289 no financing available locally for foreigners. All cash.
You said purchase price 265k, then in the picture it was 165k ?
@@jaqmaiakovskaya2303 $165k purchase price
So, is the price 165 or 265? I am a bit confused
@@laszlosarosdi5417 $165k unrenovated
Since they redid parque lleras, laureles is fairly dead compared
Is it possible to buy apartment there for $40000-80000? And clear roi 8%?
@@АлександрШохнин-о9н Tough
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. 😂