House Hunting in MEDELLIN for an Income Property 🏡🤑
HTML-код
- Опубликовано: 22 авг 2024
- Join me as I go house hunting to buy another condo in Medellin! I'll take you along on the tour, and at the end of the video you'll find out which one I chose!
If you're new to the channel, I'm a San Francisco Realtor who is Colombian-American. I take time off every year to visit my family in Medellin where I own a furnished rental (see the video I made about it linked below). I love spending time in Medellin and have seen it evolve greatly throughout the years. Medellin is officially on the map for many good reasons and folks from all over have it on their short list when it comes to places to vacation, retire, or work abroad.
🗓Let's set up a time to chat about your MEDELLIN 🇨🇴 Real Estate Goals! Book a time to connect:
calendly.com/a...
My Medellin Property Video - • My PASSIVE INCOME Inve...
Owning and operating furnished rentals in Medellin can be very profitable if you know what you're doing. With so many folks getting into the space, it's very important to differentiate yourself by not just having unbeatable locations but also great taste and offerings for travelers.
I love investing in Medellin because the returns can be great and it's a market that also appreciates very nicely.
I hope you enjoyed watching the video! If you have questions or would like to know more about investing in Medellin you can book a time to connect directly with me 📲 Book a call on the Calendly link below 🗓
👍 Don't forget to Like, Comment & Subscribe! 🚀
Andres Restrepo | 122° West Real Estate
andresrestrepobusiness@gmail.com
www.122westrealestate.com
Compass | San Francisco
DRE 02059106
🗓Let's set up a time to chat about your MEDELLIN 🇨🇴 Real Estate Goals! Book a time to connect:
calendly.com/a...
➜➜➜ Follow me on Social
122° West Real Estate IG - / 122westrealestate
Personal IG - / arsoldthebay
![[TF2] The Russian Bear Trap](http://i.ytimg.com/vi/YFNSwz2_rOA/mqdefault.jpg)
love it, hope to buy in Medellin in 2024
Nice content, I live in the building next to the one you purchased. Great area.
Really nice choice of apartment, do you have the link to book it in Airbnb? Thanks Andy.
Medellin is on fire right now. Total sellers market because they all know the vacation rental rates in the right locations are very high.
Facts. You definitely have to have a standout property to do well. The market is saturated but tourism is also growing.
Love the content, I was wondering why do you choose to buy in Medellin all cash as opposed to buying something in the states utilizing leverage(mortgage) I’m also from Medellin but live in Miami I also heard somewhere that property appreciation is tricky in Colombia because of the currency fluctuations.
Great question James. I love Medellin and the returns are great. Though the currency fluctuates, in my past 3 years of ownership if noticed that the property still appreciated despite the stronger dollar. Since I buy to own indefinitely, I’m strictly looking at the cashflow. I buy all cash because I like having strong passive income out the gate. I also like that renovations and operating expenses are far less than in the US. Replacing an A/C unit in Florida would wipe out the profits for the year..
If you don’t mind me asking what’s the normal % it has appreciated per year makes sense what you’re saying about renovation/expenses
How about tax benefits like depreciation is that still applicable? and you do 1 month+ rentals correct? Sorry for all the questions I’m just interested in possibly investing myself Thank you.
@@James-ie9ww for context, on my first rental I paid $390M COP for it end of 2019. The commercial value today is around ~$600M COP. The dollar at the time was around $1USD = $3600 COP, today it’s around $4600 COP so the value is $130k USD.
Hi Andres (we're tocayos), you mentioned a couple of times "this isn't what I am looking for [in a short-rental]". But it was not that clear, what it is that you are actually looking for?
I’m looking for 2+ bed condos in areas that I know attract business travelers. The returns gotta be on point! Also, I’m not looking for short term rentals. I’m looking for 1 month plus spots. Corporate style rentals if you will.
hey bro great video man! just found your channel today and you got yourself a new sub. i love medellin and really interesting in taking the leap and buying my first property there. what is your thought on airbnb arbitrage in medellin ?
Thanks and I appreciate the sub 🙂 from what I’ve heard it seems tougher to do since most landlords wouldn’t be cool with you making money on their property. That’s not to say it can’t work. I think negotiating a win win deal where you give the owner a percentage of the profits could be a model worth looking into.
These rent prices are more expensive than plenty of places in USA
I spend half the year in Medellin . In 2 years pricing has went up 30%
You gotta pay to play
@@AndresRestrepoSFRealEstate I live in nyc, I have no problem “pay to play”. We will see how it plays out over the next few years
Hello, How hard is it to find the comparable properties to do the math on how much a property would eventually rent out for? also doesn't airbnb take a fee ?
Finding comparable units is relatively straightforward through Airbnb. I like to create a spreadsheet when looking at the comps. Airbnb does take a small %. Since I target medium term renters it’s usually a good idea to establish a relationship off the platform that’s mutually beneficial..
Hi Andres, I happen to watch this video today, even though it’s a year old, I found it very instructive. My parents are also from Colombia, but I grew up Jersey. I’ve been to Medellin plenty of times in the last 10 years but now I’m ready to buy property there. My question is how do you move 200 thousand dollars to Medellin, I just sold a property here and definitely wanna purchase something there, how do you move the money?
@@AlexOrtiz-pv6uc right on man 🙏🏽 if you have a bank account in Colombia you can just do a wire. Additionally there’s a company called Alianza. Shoot me an email if you need an agent that can help you get your funds in Colombia to successfully transact.
Is the last apartment the building next to lettera hotel? If so that’s a great block , apartment looks great
Hi mate, could you please help me out with some good English agents. Loved the last place. I'm coming over very soon to do the same and buy in the same same area.
Hi Matthew, I’d be happy to connect you. Send me an email or book a time to chat. See the description of the video for my contact info.
Hey Compatriota!! y paisano!! do you have a video explaining how to do an analysis on buying properties in Medellin? Gracias Papa!!!
I do 👊🏽 check out my other video about MDE real estate parceraso
Great video. Noticed you mentioned most of these units potentially rent for >$2000 USD... to who, locals? or Airbnb?
Thanks! These rents would be for travelers. Not locals.
i make 1k trading stocks in two hours a day buying an apartment to rent for 30$ does seem like a smart idea
I received news today just as i was about to sign a agreement that the apartment i wanted go sold to someone else (which fucking sucks tbh). Its really hard to find apartments that allow short term rentals!
how are you financing the apartment or is this cash?
@@SleepyWavves this is 70% cash. I’ll be using a personal line of credit for the rest from the US. I know it’s tough at the moment to find good condos man…A lot of foreign buyers are in the market atm.
@@AndresRestrepoSFRealEstate one big issue im struggling with is i cant seem to find a modern apartment that allows short term rentals. I was talking to a realtor over there and he was telling me "horizontal properties" dont allow any type of short term stays.
@@SleepyWavves the building needs a license to do vacation rentals. A unit just came up for sale on my building. Hit me up if you want me to connect you with my agent that can show it. It’s around 68 sqm 1-bedroom asking $600M COP. I’d negotiate though seems a little high but the building does allow daily rentals and the occupancy rates in that area are around 90% plus. The building voted and approved short term rentals with HOA last month…
@@AndresRestrepoSFRealEstate do you have any agenices you can recommend to me that are familar with this sort of thing? I am also not looking to purchase in poblado and hoping to purchase in envigado.
👍
What happens when Petro starts expropriating? I'm half-joking but actually concerned. I live in Alto de Las Palmas but I rent my apartment. Buying in Colombia scares me in the current political climate.
In a world of possibilities anything can happen. I think that scenario has a low probability. Short term it’s easy to panic. Long term things sort themselves out. Only time will tell.
Do you have an email address to contact you?
AndresRestrepoBusiness@gmail.com