Buying property in Colombia

mecca says on May 2, 2007, 13:37:

Seattle, what part of Colombia are you interested in living, you'll find several people either live there part time or full time. I've got lots of ideas in both Cali and Medellin. I think Aztec knows the market there in Bogota.

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Lisa Zee says on May 2, 2007, 14:14:

I want to buy an old finca Fixer uper, or land not too far from Medellin, ideal in Santa Elena, or El Penol, El Retiro, some places like that. I will be looking when I go, but if anyone know, please let me know.

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arthur brode says on May 3, 2007, 05:40:

I live full time here in Cali,Colombia Presently iam working with a Attorney/Realtor that has foreign clients.If there is anything i can do for you feel free to contact me.

arthurbrode at aol.com

http://www.calirentals.net/

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aztec says on May 3, 2007, 06:01:

Be a little... ...more specific with your requirements. Is this something like what you are looking for?

http://century21colombia.com/c21_detalle_inmueble.php?c21_cod_inmueble=1342&c21_pag=1

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frankdeboca says on May 3, 2007, 07:55:

Caution is always suggested... Same as here in the states, use caution and really get a feel for he city you want to move to. In your case private schools, jobs, security, and ease of access to malls and such. Prefer the beach or the city... all things to consider. Cartagena is more fun but probably not the best choice for a family, Bogota and Cali are great also for access to malls and other "city things" and also job availability, but travel will be required for any beach ventures you take. Another choice is Barranquilla or Santa Marta. Decide your criteria, then visit these places. Do the same due diligence you would here in the states. Also keep in mind that utilities are not easy to switch over in some places and if you can rent or buy and get the current owner to help you switch the utilities into your name this will save you alot of pain. A good realtor will help you in this if you make it clear up front for them.

In general renting is always best in the beginning so you can move if you don't like the location. Once you live there it is a good bet you will find you like it better someplace else - closeness to schools or whatever.


~The key to immortality is to first live a life worth remembering...

~The key to immortality is to first live a life worth remembering...

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mecca says on May 3, 2007, 10:06:

edited
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aztec says on May 3, 2007, 15:29:

mecca, it's in... ...a gated community with plenty of security. Guards walking everywhere at all times.

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mecca says on May 3, 2007, 16:15:

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aztec says on May 3, 2007, 16:38:

No I wish it were. The community is Sindamanoy on the outskirts North of Bogotá. It overlooks the town of Chia. We actually had a contract with Pedro Gomez to build a house for us there but it fell through. The problem was the regulation involving the bank and the transfer of funds. That regulation has since been changed.

There are other houses both more and less expensive. The area has positives and negatives. The negative is that if you need to go into Bogotá every day it is a pain.

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mecca says on May 3, 2007, 16:47:

I'm not familiar with Pedro Gomez, does he do the high end stuff there in Bogota? Though I understand about contracts in Colombia falling through..argggg.

Yep, I can imagine traveling in that traffic of Bogota daily. Kind of like eating glass.jajajaja. What's the elevation of Bogota?

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aztec says on May 3, 2007, 16:53:

2,640 M (8,661.4 FT) The homes you see there are up on the hills and it's slightly colder. While some of them don't have any heat I personally would not build one with out some form of heating system. If it is cloudy or raining it can get cold. I love the weather there.

Google Pedro Gomez and you will see many property's. He got over extended a few years ago and lost most of his fortune. He is not nearly as influential as he once was.

http://www.metrocuadrado.com/constructores/pedrogomez/index.html

http://www.metrocuadrado.com/microsites/constructores/pedrogomez/1095/

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mecca says on May 3, 2007, 17:06:

edited
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aztec says on May 3, 2007, 17:17:

No the problem... ...was the National Bank regulation which has since been changed.

Pedro Gomez were unusually corporative in resolving the issue. They were also surprised at the problem and I expect is one reason why the regulation was changed.

They gave us back the down payment and that alone was a shocker. We thought for sure they would keep the deposit. It did help that they sold it the same day to another Bogotano for a higher price.

Click on Encenillos de Sindamanoy and then the Ver mapa on the second link. The area marked to the right of the highway and to the top is the site.

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mecca says on May 3, 2007, 17:24:

You hit on something Aztec, if you know where and how to buy, there is good growth potential there in Colombia, as you said your place sold the next day. Great you got your deposit back, unusual for Colombia. Are you going to try again in that area?

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aztec says on May 3, 2007, 17:28:

I do think the growth area ... ..is in that direction. Some very high price neighborhoods are being built out there. There are several exclusive clubs out in the area including a few upscale golf and equestrian country clubs.

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mecca says on May 3, 2007, 19:19:

I looked at that second link on the map, it looks like he's developing a crescent shpaped swath from the mountains down to the highway...it's a neat tract. Are all the lots 4 acres or so? That's a nice piece of land.

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seattle says on May 4, 2007, 13:25:

Thinking to live in Bogota I am thinking to live in Bogota or out on the coast. For having children and needing good school access I am wondering what would be the best for them. We have been thinking Bogota although we do like the coast. As for opportunities in starting up a business we can see that Bogota or the coast will work. We will need a 3 bedroom apartment or house in a secure area. We love the countryside, but wonder about the means to get the children to school and back as well as the safety issues. What do you think of buying property and building houses as a business. This is what I do for a living here in Seattle. I am not a licensed architect although I do work for one. I am thinking that I may be able to buy a lot there and build a house to sell or just rent and then do it again. What do you think of this as a means of making a living in Colombia? By the way, thanks for the response.

seattle

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seattle says on May 4, 2007, 13:31:

aztec y mecca Are you gringos or colombian or what? If you would be inclined to share a little about yourself I'd appreciate it. Do you live there and for how long. Do you like it well enough and feel comfortable enough ie:secure from having to watch your back. Do you think the idea of a gringo and his children comming there to live with his Colombian wife and family is an okay idea or is it something you would not recommend?

seattle

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seattle says on May 4, 2007, 13:37:

frankdeboca How about you? Are you new to Colombia, live there???? Your comments of caution are appreciated. Thanks. I have been to Bogota and all the areas within an hour or so of Bogota. Also have traveled the coast from Cartagena to Santa Marta. Also been to the islands there. Love every bit of it. We actually have Barranquilla in our sites although the weather gets really hot there. However we do have family members there also and my wife grew up there when she was young. The culture of the coast we like more so than the culture of say Bogota. I have often thought of starting up a small food business ie pizza or ice cream shop on the coast.

seattle

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aztec says on May 4, 2007, 13:58:

secure from having to watch your back,, seattle I think you will always have to factor in your everyday activities security awareness. Never will you be as comfortable with that issue as you are in Seattle. Nevertheless, I believe you can learn to live with that problem.

There are very good private schools in Bogotá but they are expensive. If you speak fluent Spanish you have a chance of making a successful and happy transition. Otherwise, you will be a ward of your wife or someone else who can speak the language. Also having a child changes the dynamics and raises the stakes.

We made several trips to Cartagena for the express purpose of purchasing property. We eventually decided that for us the better location to live is Bogotá. Many cultural activities in Bogotá and more things to do. Anyway, by plane you are about an hour from the coast if you need a break from the cooler weather.

Frankly, if it was more safe half of the USA would be living in Colombia. Some of us think a little more bombing will keep the paradise secrete and exclusive.

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tomtom33 says on May 4, 2007, 15:28:

I live in Medellin and Cartagena 8 months a year. However, I am retired. If I still needed to earn money, I would not have left the US.

The only easy thing is Colombia is getting laid. Everything else is a major mind fuck. Read the forum.

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seattle says on May 4, 2007, 15:38:

esanch36 Thank you for your comments, and I agree with you that I have not seen or know very well the mentality of the people. Could you elaborate what you mean about the mentality differences and that starting up a business is more difficult in Colombia than here. Why? I thought that it would be easier as far as requirements go. I am aware of some of the differences between the cultures of the capitol and the coast as I have been to Colombia 3 times. In total I have spent roughly 5 months of time in Colombia. Regardless, I appreciate what you are saying and agree with you that it would be best to be able to just live there awhile and see. However I do have my Colombian families help. Are you living in Colombia? If so, how long have you lived there? Appreciate any response. Chao!

seattle

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seattle says on May 4, 2007, 15:43:

Astec Thanks for the comments. Areas of Bogota you would recommend? What to do you think about building for a bussiness. Have you had any business there or retired? How long have you lived there? Are you gringo?

seattle

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vicshere says on May 4, 2007, 16:30:

hey seattle you should do a site search for my name vicshere and read my past post about opening and running a business in colombia

listo

listo

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Tinto (Moderator) says on May 4, 2007, 16:34:

And look up the "Ease of Doing Business Report" published by the World Bank. To do things legally in many countries in the region is a nightmare compared to what you might experience in Seattle, WA.

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Gator says on May 4, 2007, 18:26:

I Would Echo... Aztec's comments and basically his reasons for Bogotá living is the same as I and Mrs. Gator (who is from Cali). We live on the north end up around Cl 89 north of 7th.

Any one thinking of a permanent move should really really think it through and come for an extended visit. Remember, please, what Dorothy said in the Wizard of Oz, "This Isn’t Kansas Anymore, Toto." It IS different from living in the USA-big time. But we would NOT live anywhere else.

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

"Credidi pretio parvo emere et magno vendere tibi in animo fuisse!" .

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elreydelostrolls says on May 4, 2007, 19:47:

Seattle, is your wife's family in good with any of the armed factions in Colombia? If they are on the coast (Paracolombia) do they know Uncle Sal or any of his cronies?

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seattle says on May 6, 2007, 22:30:

Perhaps you could elaborate a bit Elreydelostrolls???? Are you trying to be funny?

seattle

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seattle says on May 6, 2007, 23:16:

Aztec.. Sindamanoy near Chia as you mentioned, what price range can one obtain a building lot for. Say a resonable sized lot (1 acre to 5)..?
What do you think of buying and building in Colombia. Have you done it befor? And.....are you gringo?

seattle

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tejasmarcos says on May 6, 2007, 23:40:

amazing what you can get for your $$ in Colombia. i'm looking at condos right now on the west side of Seattle and they are ranging between $400-500 a sf. i have owned multiple properties in DFW that i have bought for between $63 & $80 sf. it's amazing when you see what would be multi million dollar homes priced at just a few hundred thousand in Colombia. the best deals are always located in what gringos consider "the burbs" in Colombia, ie. fincas.

there are two plays for residential speculators in Colombia. inner city fixer uppers (like in the usa) and "path of growth" plays. the latter is the bigger play in most cases, but there is the "lag" of time in which the services (including security) will catch up to the path of progress and ultimately rooftops. this is all contigent upon continued growth, foreign aid and political regime stability in Colombia. i have personally been re-assured by many Paisas that the political outlook is positive for what will be many more years of progressive and capitalist influenced leaders to come in Colombia.

the vanguard investors/foreign settlers should consider other security factors and options when making this choice to insure the highest degree of certainty upon final decision and subsequent relocation. i would be more than happy to continue this discussion with qualified and serious individuals offline............

i currently acquire institutional grade commercial real estate investments in the US and syndicate to TIC clients. i am a TX native living in Seattle. i have an apartment in Poblado, MDE and have been gathering data now for 18 months regarding real estate stats in Colombia.

i am looking for other "like minded" investors interested in Colombia real estate purchases/ventures.

PBH "jackasses" need not inquire. you know who you are. you know, the type in which DRAMA is more important than fact content. or the ever present and highly disirable PBH/COLOMBIA EXPERT(s). if you fit the previous two categories or description, find another thread to enlighten others.............

trying to walk a straight line on sour mash and cheap wine...

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aztec says on May 7, 2007, 05:56:

tejasmarcos, do you know ... ...viewpoint?

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tejasmarcos says on May 7, 2007, 08:18:

reply to aztec don't think so. does he live in Medellin?

trying to walk a straight line on sour mash and cheap wine...

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aztec says on May 7, 2007, 09:55:

Strange, your profile... ...has similarities. He was/is based out of Seattle and he invests heavily in Medellin real estate. He also invests in Panama real estate.

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JMCana says on May 7, 2007, 10:22:

Various types and prices I live a little ways past Chia. Indeed over the last year they are building many nice places in the Chia area. The roads have become much better. The shopping has improved significantly in the last two years since I bought my house. Getting to Bogota is not that tough, but there is starting to be constant traffic jams on the autopista before getting to Santa Fe mall.

One of the main concerns of building out where I am is water. There is beginning to not be enough water to go around. Pressure is not like it is in Bogota. There are some nice finca's for sale, but they will require some fixing up to make them as comfortable as most homes in the USA. To find those finca's though you will probably have to talk with some of the local people handling homes or check the bulletin boards at the stores and things. For most people selling such things the idea of an international real estate firm is foreign.

I just looked at one place between Tabio and Tenjo that the man built in the USA way. It has a guest house on the property, plenty of water with a pump for maintaining pressure, workshop and garage as well has a very nice kitchen. (Forget high speed Internet access though.

As for the business of buying land, building homes and selling them in Colombia, well - it is a whole different ball game than in the USA and I dare say that a novice will pay heavily for the school-of-hard-knocks education of learning how it is done.

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seattle says on May 8, 2007, 08:14:

JMCana Sounds like you have had experince there with building, is that right? Thanks for your comments. How long have you lived in Colombia? Are you from the states? If you are from the states and living there, how are you recieved by the people in general. What do you think of a gringo living out in the area you are telling me about. Sometimes we have thought that it is best to live in a secured condo, however that does not lend itself to gardening and the likes of the outdoor life. We have traveled many places, forgive my spelling if incorrect, but places like Melgar, Villa de Leyva, places in between as well as the coast. Liked them all and all very different. I have often thought about building a bed & breakfast in Villa de Leva. If you get outside of the main town, the country side is beautiful and a few years back we saw some homes for sale for cheap in dollars.

seattle

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seattle says on May 8, 2007, 08:18:

Aztec Did you read my comment to you?

Sindamanoy near Chia as you mentioned, what price range can one obtain a building lot for. Say a resonable sized lot (1 acre to 5)..?
What do you think of buying and building in Colombia. Have you done it befor? And.....are you gringo?

Is this impolite to ask on this site, I have found that many times there are no responses to questions?

seattle

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seattle says on May 8, 2007, 08:18:

Aztec Did you read my comment to you?

Sindamanoy near Chia as you mentioned, what price range can one obtain a building lot for. Say a resonable sized lot (1 acre to 5)..?
What do you think of buying and building in Colombia. Have you done it befor? And.....are you gringo?

Is this impolite to ask on this site, I have found that many times there are no responses to questions?

seattle

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aztec says on May 8, 2007, 09:42:

seattle, sorry about that. We actually did contract with Pedro Gomez for a house to be built in Sindamanoy near Chia. He graciously let us out of the contract when we ran into problems with the Banco de la Republica concerning our transferring funds for the project.

At that time form 11 along with the promesa de compra venta, had to be filed with-in a 3 months time frame. The regulation has been changed so that a contract to build is sufficient.

There are building sites all over this part of the "sabana de Bogotá". If you can afford it check out some of those sites/houses further up on the mountain in Sindamanoy.

I personally would prefer to purchase one already built. Would not again attempt constructing a house or apartment in Colombia. The building and government landscape is far too alien for someone new coming into the country.

We subsequently decided that we preferred the Bogotá city life and that Sindamanoy is a little too far out for us.

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gringolondinense says on May 8, 2007, 09:53:

bloody hell tinto are you a professor or something? i cant even read your posts, they involve too much brain power

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mecca says on May 8, 2007, 10:52:

Seattle, aztec is right, viewpoint would be the best source. He's also invested in the USVI's as well (HEAVILY). I've bought a few places, including land houses and apto's in colombia. I'm looking to live and build there not buy and sell or rent, so not sure if I can really help too much.

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aztec says on May 8, 2007, 11:16:

mecca, you are right on... ... US VI is where I first met viewpoint. My son had a condo in one of the same neighborhoods as viewpoint. Close enough you could throw a baseball to his house. He did own several condo's there but has sold many of them.

Since we both had Colombian significant others it was just natural we would become friends. My wife and I like and respect him.

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mecca says on May 8, 2007, 11:19:

AZTEC, great guy viewpoint...for sure He helped me a ton on my first purchase in south america. We should meet up sometime. If you're friends of View's you're great in my book. If you and your wife need a place to stay in Cali, it'll be done in about 2-3 months and your welcome to use it as needed. 650meters like view's places.

Your sons place near viewpoint's in the USVI, must have been VERY NICE !!!

Aztec, do you fish? I just spoke to view, we should meet in Panama City for a few days.

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seattle says on May 10, 2007, 15:08:

Mecca Can you hook me up with viewpoint? Also, does any one know if like the US, in Colombia, there is appraised value data avail, ie: taxes based on appraised value etc... What resources are available for researching property value if any? Aztec, your living in Atlanta?

seattle

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Brians says on May 11, 2007, 04:26:

Seattle you can pay for an appraisal. It costs a few bucks but very cheap compared to USA. Sprigimace and Robbi mentioned that it was smart to do this.

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aztec says on May 11, 2007, 05:01:

Aztec, your living in Atlanta? seattle Yes, North East on the outside in an urban area. About two hours to the Atlanta airport.

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seattle says on Jul 3, 2007, 17:37:

seattle

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