This week one reader asked…
“Hey Dom, what would you do with $100k in Ecuador, right now?”
Good question.
Well, Stocks both in and out of Ecuador are too volatile for me at the moment.
Currencies? Child please, when I bet my money I go to www.EasyMobileCasino.com.
Bonds? I’m too old for that sh*t. At my age, you better show me the money quick.
OK. Well, there’s A LOT you can do with $100k in Ecuador.
What I’d do right now with $100k is I’d immediately take $80k and invest it in 3 month Letters of Credit with my bank here in Ecuador.
With that I can tie up the money while I decide what to do with it, and make 9% interest guaranteed in the meantime.
There’s nothing more dangerous than a lot of free cash at hand.
Especially if you have a girlfriend.
Then, I’d buy two properties under $50k.
One, a 2 bedroom apartment in Cuenca, and the other a beach house in the Olon area of the coast.
In both areas there is currently heavy demand from both local and foreign buyers.
And in both areas prices have already jumped a bit over the last 2 years, but deals can still be found.
I’d buy right so that in one year I can resell for a 20-40% capital gain profit. And in the meantime I would rent the properties to short term, primarily foreign renters for around $500 per month each.
You see, in Ecuador, certain areas are hotter than others. And certain price segments are moving MUCH faster upward than others… for instance, the lower end of the market, properties under $75k, are moving at an exponential clip.
That’s what I’d do now. Now, if I had $200k my strategy would completely change.
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