As you may know I manage apartment rentals in Guayaquil(Ecuador) near the airport and Mall del Sol area.
I know what you’re thinking… “yuck! why Guayaquil?”
Well, its THE commercial hub of Ecuador and I’ve found it to be the TOP place “bang for your buck” wise to own rental properties.
And in the last year alone I’ve sold one property and bought another.
So my name is out there.
And this week I got a call from a contact on an unlisted deal for a one bedroom one bath suite in a luxury building with elevators and a pool.
The owner is a bit distressed at the moment because they never titled the suite in their name and they have only until the end of this month (February) to do so or the builder will take the suite back.
So its a fire sale.
She can sell the suite, title it in her name spending a few thousand dollars which she may not have, or lose it.
The place is sold furnished and the price is lower than I’ve ever seen since I started working the area 2 years ago.
Its also in the same building where I currently own a property (but I paid more).
She’s asking $67,000 but in the building I’ve seen similar suites sell for around $85k, if you wanted to sell it fast (within 1-3 months) $79k would do.
Plus, due to the stellar location, its a great rental, could rent by the night through a service like AirBnb (I could help) or rent by the month as they go for around $800/month.
On Wednesday I plan to visit the property.
I will probably buy it although I was not planning on buying another one for now but at this price can’t pass it up. Unless one of you are interested in which case I would charge a finders fee and let you in on it if you like.