PVTTONY has left 3 comments

PVTTONY comments on Buying a house in Colombia

Oh boy!!! Ok everyone,

The transfer of money needs NOT be made to our account in PR. However, the exchange rates from one bank to another do change, I was only stating a minimum. And if you don't have a bank account in Colombia, this could kill you. Large transfers of money from an American bank account to a Colombian bank account will be carefully looked at by DAS and other Colombian authorities because of money laundering and drug payments are very usual things between Colombia and US without mentioning the investigation you will get if you are in the USA. Plus, I am not refusing to meet with you IN THE US or in Colombia and provide you with proof of residency, my US passport information or even any identification you might require. I am NOT saying that I am your ONLY way. YOU have to have a LEGAL COMPANY in the USA and in Colombia in order for things to go SMOOTHER with the transfer. You CAN do it with your own bank account, Im not saying I have the ONLY solution. And joe, it doesnt smell, it STINKS, but you have to figure how they make their money. THE SECRET: They make a lot of money when they exchange your money from USD to COP and when they loan you your own money back. Even wester union does that. If you are going to receive a transfer through western union make sure you tell the sender to send the money in USD and NOT COP's. You will see that you get more COP's that way. With the dollar going down as fast as it is, I just HOPE things get back on track with it! Hope nobody was offended as I was only looking to help. Good luck with your purshase MTBE.

PVTTONY comments on Property Investment

To Roy, Aztec and Tom. Roy,

What kind of property are you seeking? If you want to make good money in real estate, you might want to invest in a multi family house. Maybe three to four floors. I have been living in Colombia for over two years now with my wife and real estate is one of our main businesses there. I can get you in contact with developers that can build you a house to fit your needs or even a building as well as, helping you get what you want with the budget you have at hand. It really is'nt that hard to find good investment property in Bogota, Cartagena or Barranquilla as these are touristic areas in Colombia. The only real drawback is the initial cost since, the light, gas and water bills are paid by the tenants if you want and, the rent is apart from those things. The initial investment can range from 110 to 500 or to even 600 million COP's or more, depending on what and where you want it. In terms of ROI, its not a quick one. For example: You own a 3 floor house and have 1 apartment on each. 3 people live on each floor. The rent you charge is of $250,000COP. and every month you get the light bill for $50,000COP. You will have to divide that by the amount of people living there (if you do'nt live there, it would be 9) and then charge each individual floor an equal amount and so on and so forth. You get the water bill every two months. Are you starting to get the idea? If you want more info on good places to invest in Colombia and, possibly taking my services as an option (Property aquisition, Management and Sales), please contact me at tony.jament at gmail.com. As to Aztec and Tom, I just think you guys are being a little pessimist. This country has a lot of great real estate to offer, just gotta know where to find it. I'm not saying I'm an expert on the subject, but I do know a lot of people from the US who actually invest in real estate in Colombia. Some are developers and some are just people needing to make a buck and they're doing pretty well!

PVTTONY comments on Buying a house in Colombia

Buying a house in Colombia MTBE:

I am an american veteran and have been living in Colombia with my wife for over 2 years now. One of our businesses is real estate. I can help you find an apartment, a house or even a nice "finca" in Bogota, Medellin, Cali, Pereira, Tocaima, Chia, Cartagena and other parts of Colombia or, if you wish, we can aquire the property of most interest to you and pass the title on to you. So, you can pay for it using your current bank account. All you have to do is wire the money to our bank in Puerto Rico and the money will be withdrawn here minus bank fees (the banks pay about $1,800COP for every $1USD). As for titling purposes, you would have to go to Colombia with your wife so you can get the title under your wifes' name since she is Colombian (unless you have a cedula de extrangeria provided by DAS when you get a Colombian visa and that way you may both be on the title) it would be a lot easier if she was the only one on the title (she will need her non-expired "cedula de ciudadania"). My wife and I can also administrate your property (for a fee) for the time you will not be there. If you want or are interested, send me an email and i will discuss any other details you might need.

P.S. If your wife still has her "cedula" up to date, it should NOT be considered an investment.