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Investing in Real Estate in Cali, Colombia - The Next Frontier
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- čas přidán 7. 08. 2024
- I spent time traveling around Colombia trying to find out the most interesting real estate markets to invest in. Cali turned out to offer incredible value, especially for investors who wish to buy an entire building.
🇨🇴 Real the full analysis on investing in real estate in Cali: thewanderinginvestor.com/inte...
🇨🇴 Get in touch with Patrick: spanfelner@gmail.com
Time stamps:
00:00 Cali Neighbourhood overview and apartment overview
04:45 The rental yield of this apartment in Cali, Colombia
05:45 The different rental markets in Cali, Colombia
08:30 Airbnb restrictions for investors in Colombia
10:40 The lifestyle case for Cali, Colombia
12:40 Investing in entire buildings in Cali, Colombia - exact numbers
17:00 Occupancy rates in Cali, Colombia
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
Read the full analysis of the Cali real estate market here along with exact numbers: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-cali-colombia-the-next-frontier/
I will be going to Cali soon. Do you have this guys contact? Thanks
@@dalesutherland6460 patrick@thewanderinginvestor.com
Back in March 2022 I was able to buy an apartment in a very nice and prestigious apartment complex with 4-bedrooms and 4-bathrooms in an apartment complex just across the street from the Chipichape Mall---a cool breeze rolls off the mountains every day, with a very quiet and safe neighborhood and 2 very nice Spiwak Hotels across the street...everything at my fingertips in walking distance---I don't even need a car, however my apartment comes with 2 parking spaces in an underground parking garage under the complex and 24/7 security with gated entrance and gorgeous reception area...and the complex has a beautiful large swimming pool and patio area. The entire complex is well maintained and super clean with a gorgeous view of the mountains. I am super excited about this apartment and the location of the complex it is in. I am from Michigan, USA and will be retiring in Cali. :) Mark
Congrats Mark!
@@TheWanderingInvestor I forgot to say thank you for your video...very informative and well done. I have become a subscriber
That’s our area as well! I love it in the north and am also considering buying here! Lots of locals and at the same time cozy and modern. Greetings!
Bienvenido a cali
cali is goldmine for investing..
yes, it’s a booming real estate market! I was surprised that the average price for buying apartments is around 800$ / m2 (75$/sq.ft) Internationally for what Cali has to offer this is unbeatable!
I’m considering buying an apartment in Cali and I also interviewed our realtor about buying one and renting it out on Airbnb. I didn’t know about the 70% agreement of all owners in the building, that’s interesting! I guess it does make sense to invest in a whole building. Thank you for an informative video!👏
I like the quality of the structures, red brick exterior. However, I think buying properties from other foreigners will always be more expensive than if you bought it directly from a local (that is my opinion at least).
Very informative video. Thanks 🙏🏽
Indeed! Cali deserves more attention! 😊
Thank you Patrick for saying nice things about Cali my city in most big cities we always find big crime I live in London for40 years and they are places I can go 👍
Hi, I am glad you touched on investing in entire apartment blocks, you mentioned the same as possibly a good idea in your Nairobi (Chinese build) real estate video. Would love to see you touch on investing in entire apartment blocks in future real estate videos also. Thanks For Your Videos & Hard Work in Creating Content for Everyone!!
Yes helpful information indeed! Buying an entire apartment block does seem like the easiest idea, especially if you want to manage and maintain the units for Airbnb.
Hello ! an advantage that you didn't mention is the Time zone. Ideal for remote workers in north america (software engineer)
The time zone is an hour different when the US is on DST, the same for the rest.
Good
interesting option
Yes, lots of opportunities in Cali! I personally love the North, lots of locals and cozy yet modern! Many new apartments and quite safe! I recommend near Chipichappi mall!
Interesting analysis Ladislas.
Is it possible to buy the whole building and then sell the apartments. What are the returns that we can expect?
Cheerio :)
Yes. Definitely possible. Send Patrick an email and ask him.
Our realtor in Cali just told me it would be around 1000 USD income through Airbnb for a new one-bedroom apartment if occupancy is 100%. That is usually in December and January! The other months he got around 50%.
Great Video, Have you or will you pick something up here??
Maybe I will
Not sure about this investor thingy when the banks are paying 10% on a one year deposit and depending on the mood at any time, you can sometimes negotiate a little more. On $100,000 US that gets you 43 million COP, enough to pay all your basics for a year, rent, services and food. But be aware that Colombia taxes on world wide income and with Petro wanting to be the new Robin Hood, the inspection of expats will likely get more emphasis by DIAN.
10% in COP vs 10% that you can adjust anytime due to the USD nature of the income cannot be compared.
@@TheWanderingInvestor I'm talking net vs net, 38 million gross with all the aggravation against 43 million net guaranteed. You have your opinion and I have mine. The US dollar means nothing once it's converted.
@@TheWanderingInvestor
Please explain this statement “ vs 10% you can adjust at anytime due to the nature of how the USA “
@@1879gym 10% on a COP deposit is 10% in COP.
10% renting out to foreigner is different as it more closely tracks the USD + the underlying asset will potentially appreciate, especially when it’s this cheap.
Are there any citizenship/visa benefits to investing in Colombia?
Yes. thewanderinginvestor.com/foreign-residencies/how-to-obtain-residency-in-colombia/
@@TheWanderingInvestor THANKS
I was just looking into it and I’m considering the Real Estate Visa. There’s 2 major types of investment visas here. The Real Estate Visa and Property Investment Visa. The prices in USD change a lot and when I looked into it last year they were cheaper than now (USD). For the former you must purchase a property in Colombia with a minimum value of 350 times the monthly minimum wage in the country, which is currently around 450 million Colombian pesos (approximately $85,000 USD*). With this minimum investment of around $85,000 USD, you can purchase a property in Colombia and live and work there for up to three years. The latter requires a minimum investment of 650 times the monthly minimum wage, which is currently around 845 million Colombian pesos (approximately $180,000 USD*). With this you can live and work in Colombia for up to five years. After that you can apply for permanent residency. And of course there’s other options like retirement, marriage etc. 😊
@@AlexandraAllover Thankyou! You just saved me a ton of time looking these things up. I really appreciate it
Could we get the real Estate agent contact information or the sales person.
Thank you
Spanfelner@gmail.com. Patrick’s email.
Are you liking cali better than Medellin or bogota
Lifestyle I’d say Medellin first, then Cali. Bogota not so much.
IMO and this response is to a comment four months old, Cali, hot and very humid, AC on all night or you won't sleep. Med, perfect climate but a city of 4 million. no thank you, Bogota, offers good live concerts and restaurants, a city of eight million and otherwise a dump. There are much better than all three of them.
@@williamhutchison5969 good to know! Thankyou. Where would you say is best?
@@ADAMREES-GRITGYMCali sin duda amigo
@@fernandoangulo3471 Fantastico!
Le crédit va bousiller tout le système. Les prix pour se loger à cause de personne qui "achètent" à crédit pour louer un logement créer plus d'inégalité et de disfonctionnement.
You said it’s one of the safest part of town, yet in the same breath you talk about not having your cámara out too much because of motorcycle thieves, why you do think there are big steel gates and underground parking, I’m Latino and I’m just saying Gringos running around not knowing how safe and secure places are and giving wrong impression at times.
« One of the safest parts of town » is pretty relative.
And with the way I look and with a $1000 phone on a selfie stick needless to say I was a walking target.
@@TheWanderingInvestor my grandfather is from Cali, Colombia so I do know quite a lot about Cali.
I personally enjoy living in the North. There’s lots of locals and many old people’s homes, which makes me feel kinda safe 😁 But overall, living in a safe building complex helps of course! I’m surprised by the beauty of the surroundings and the friendly people ❤️
Bad filming mate
Less than 2 mins in and already displays a reason for NOT invest in South America: SECURITY CONCERNS... sorry but that's true all over the region....
There’s big differences between the countries in South America. I personally had the best times in Brazil and Colombia, which both have a bad reputation when it comes to security. Nevertheless, if you live in a safe area, I can recommend both countries. Just like Cali! We are currently in the North in a secure area, modern building. We feel great here. Where would you personally recommend buying?
Has COVID-19 made it hard for the unvaccinated to live and work there??
No