Business Idea For Colombia

Wastelandlive says on Mar 20, 2006, 04:26:

I wouldn't touch that one... ... with a ten foot pole.

How much will a Colombian be willing to pay for storage? How many Colombians are cursed with the surfeit of material crap that we Americans allow ourselves to be bogged down with?

So how much profit is there in this?

And what's the risk? What if the answer to Tinto's question is, "sure... three months overdue, you can sell the stuff!"

Would you? For how much? And how are you going to deal with the irate owner who can probably have you whacked for what he owes you? You just sold his sainted mother's nightstand...

I used to live in a marina where half the boats were dead beats... the owner had a hell of a time collecting the rent - not from me, or other expats - but from Colombians. And keep in mind that a Colombian that owns a boat is not a poor Colombian...

Not me. Sorry to be negative, but credit, contracts, security... things just aren't the same in Colombia. I'd focus on selling goods or services for which you can demand cash payment up front, and walk away after delivery.

Wasteland

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viewpoint says on Mar 20, 2006, 05:39:

Storage Colombia WasteLandlive advice is correct. Your quality retirement would be interrupted by this type of business in Colombia. Most of the Colombian population lacks the financial resources to pay for storage and doesn't possess the excess material goods to store. Further, most homes and apartments have their own storages (deposits) allowing them to store their excess things on their own premises where they would be more secure.

For a storage project to be really profitable it has to be 150,000 sf. ft. (14,000 mt2) plus the land. It can be built in phases (2 or 3) but it takes a project of scale to pencil out otherwise it simply becomes a "low paid" job creation project.

Can you imagine being a defendant in Colombia from litigation where a tenants possessions where stolen. Any foreign person that wants to be in business needs to seek help and counseling. The deck is stacked against you.

Under the current tax structure in Colombia I wouldn't invest nor recommend anyone invest any sizable capital investment in that country other than a home to live in.

Study their patrimony tax code before you even consider investing in Colombia other than a residence. Previously a foreign investor or foreign entity could escape this taxation but no more. A 6% income is imputed on your investment regardless if it makes money or not. In other words if you invested $500,000 acquiring a peice of unimproved land and held it you would have to pay income taxes on $30,000 of income plus your real estate taxes even though the "vacant" land produced no income at all.

I used to enjoy coming to Colombia to relax but now I come just to solve taxation or other business related issues all of which are just marginally profitable at best.

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spigrimace says on Mar 20, 2006, 07:05:

in the states they usually auction off the unknown contents Usually it´s like playing lotto, in front if marshalls they crack open the lock of the unit and mark contents and leave boxes and sealed items closed. So for these you bid like maybe $100 and get a box worth nothing or maybe filled with rare gold coins.

Interesting that back in my banking days, a case came up where the contents of an auctioned storage container box contained a Disney stock certificate for 500 shares. This was back in the mid 90´s when Disney was really hot and worth a lot more than it is now per share. SO we were talking like US$35,000. The problem was it was a registered stock certificate so the transfer agent for Disney couldn´t tranfer it without proper protocol like a signature guarantee or a court order. The winning bidder of the box took it to court to try and obtain the court order to transfer ownership to him and unfortunately lost his case to have it transferred to his name outright. Obviously the registered owner of the shares could not be found to represent his side. The judge claimed maybe the certificate was lost and that every shareholder can obtain an indemnity bond if they lose a certificate in order to replace it and the non-payment of the storage unit didn´t waive the right to recoup lost property where the owner was obvious as in this case with the registered certificate. Also the storage unit was NOT registered in the same name as the name registered on the stock certificate which was probably most damaging to the case. He also quoted that how does anyone know the certificate was in the box. So maybe that´s precedent to open the box in front of a notary or even a judge. Eventually the unclaimed stock certificate became property of some state thru abandoned property where it´s eternal resting place is in a beauracratic black hole.

Goiod luck finding out protocol in colombia. You´ll ask 5 lawyers and get 5 different answers.

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poco says on Mar 20, 2006, 18:22:

The Moving Finger writes; and, having writ, moves on How many Colombians are cursed with the surfeit of material crap that we Americans allow ourselves to be bogged down with Any foreign person that wants to be in business needs to seek help and counseling
where it´s eternal resting place is in a beauracratic black hole. Great writs’ PS: The story was entertaining while providing insightful assessment. Wonder if they had Mickey on the front?

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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spigrimace says on Mar 21, 2006, 05:20:

Mickey Mouse! Donald Duck!....and others Actually...yes the certificate has walt himself and a bunch of the characters. If you look at stock certificates, especially from the 20´s thru 70´s, there is (or was) a law (or rule) that a stock certificate has to have a human figure as part of the artwork. Old certificates have become collectable for their artisticness as well as the provenance of "THE CORPORATION".

Here´s a link to see a blank Disney stock certificate:

http://www.oneshare.com/stock.asp?stock=disney#

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