Post: #1

Does anybody have any experience owning foreign residential property, particularly in South America? I have been looking at buying an apartment in a few locations in South America, El Poblado is at the top of my list. If anyone could share their experience with something similar, whether it be first hand or trusted 2nd hand, it would be a big help as I don't really have anyone I can talk to about things like this. I'm sure it would help many other forum members as well.

Personally, I think its a good idea for me to have something set aside outside my country (USA). Hopefully I could net a 5%+ rental yield and just use it as a place to park money.

If anyone has any personal experiences that they dont want to put out in public feel free to PM me.

Post: #2

/thread-23438.html

Might help

Post: #3

Usually it is easy to buy and a nightmare to sell. Do your homework before. Good luck.

Post: #4

I look at it like my parents current retirement, later mine and then to be passed on to my children.

Post: #5

Not in South America but i've bought in Asia. More details in the following thread:

/thread-30196.html

Post: #6

Here in Colombia home prices to buy are often way out of line with rentals. it's hard to find a good deal, may be a little easier in Medellin (I'm in Bogotá).

The other thing is new construction SUCKS here. Don't buy something new! Issues with plumbing, electricity, even stability sometimes... they're trying to rush things too much.

Post: #7

Yes, prices in the nice areas (best for eventual resale) of Bogota have been very high the last few years. I took the plunge anyway and purchased in Chapinero Alto recently. I'm quite happy with the purchase and the rental prices are surprisingly high in Bogota (although difficult for a foreigner to rent long-term without verifiable income and co-signers). I also have experience with real estate in Cartagena and in Panama as well. Drop me a PM if you want more info.

Post: #8

(07-12-2014 04:50 PM)Jaydublin Wrote:  Does anybody have any experience owning foreign residential property, particularly in South America? I have been looking at buying an apartment in a few locations in South America, El Poblado is at the top of my list. If anyone could share their experience with something similar, whether it be first hand or trusted 2nd hand, it would be a big help as I don't really have anyone I can talk to about things like this. I'm sure it would help many other forum members as well.

Personally, I think its a good idea for me to have something set aside outside my country (USA). Hopefully I could net a 5%+ rental yield and just use it as a place to park money.

If anyone has any personal experiences that they dont want to put out in public feel free to PM me.

Bought a condo in Cali, Colombia years ago....hardest part was getting the money into the country. If you buy new from a developer you may have an easier time as some have US bank accounts that you can deposit the money in to close the deal.