Don´t move to Ecuador without this

I live in Ecuador.  

But occasionally go back to visit friends and family in the States.  

And what was my first stop upon arrival this past week to my hometown of Cleveland, Ohio?

The shoestore.  Famous Footwear.  

I rolled up with as they say in Ecuador “hungry shoes”.  Or shoes with the sole partially detached.  

I actually threw away the shoes I had on in the bin outside the store as soon as I was done purchasing.

I simply refuse to buy shoes in Ecuador. 

For example, Nike tennis shoes, the same ones you can get on sale in US for around $50 would go for $150-170 in Ecuador.  Adidas is the same thing.  Even sandals too.  Most other name-brand and casual shoes have similar price differences.  Women´s dress and casual shoes also can be 3x what they cost in the USA.

Plus, the larger sizes often can´t be found in Ecuador.  

And yes, people have actually stolen shoes from me in Ecuador (in 2017 even)!

So when you move here, be sure you have your ideal footwear until at least your next trip back!  

The only shoe type I would buy in this region (Ecuador, Colombia, Peru) is men´s leather dress shoes, some nice locally-made styles for reasonable prices can be had.

Hasta pronto, if you liked this you’d love my Insider’s newsletter on living and investing in Ecuador,

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1 item to bring to Ecuador for quick cash

This week I´m checking in from Atlanta, USA… and there are MANY things here you could bring back with you to Ecuador that could fetch more than you paid for it at least covering the cost of your flight (and then some).

But if I had to pick one item… as for ease of sale and profit potential.  

It would be to bring a PS4 FIFA edition. New.  In USA you can buy at many different places for around $300.  In Ecuador, you could resell online to Ecuadorians via a site like MercadoLibre.com.ec for around $410-450.  

As long as you bring ONLY 1 per person you won´t have problems when being inspected by Ecuador customs because one unit is allowed per person as it´s deemed you bring for personal use.  If you brought more units you would have to pay import taxes upon entry to country at airport.  

Hasta pronto, if you liked this you’d love my Insider’s newsletter on living and investing in Ecuador,

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3 real estate business models that do NOT work in Ecuador

This week I´m checking in from my hometown of Cleveland, Ohio on a quick trip back from Ecuador.

And everyone I run into seems to be in real estate.

But it´s a completely different animal than what I´m used to in Ecuador…

…here are three common business models I´m seeing here that would NOT work in Ecuador.

1. Purchase low-income rental properties.  In Cleveland, that means the properties in the inner-city where my family lives selling for around $20-40,000.  In Ecuador, I would not touch this business model with a 10-foot pole.  Low-income rents in Ecuador are really low (like $100-300 a month) and the rental laws just don´t protect homeowners with long, complicated eviction processes for this to be worth the hassle to me.

2. Live-in flip.  Where you buy a fixer-upper property and live in it until you are able to resell it.  Well, when you buy a beat-up property in Ecuador chances are it won´t be livable (if you have an average North American living standard).  I know, I´ve done this one and it was ROUGH.

3. Sell on contract.  This is when you tie up a property in a contract for a period of time usually 15-30 days and then resell the contract (or right to buy the property) for a profit of usually a few thousand dollars to another investor.  This COULD work in Ecuador and something I may try in the near future, but this is usually done in RED-HOT markets like we are seeing in the western USA now.  In Ecuador, properties usually take much longer than a month to sell due to the primarily cash-only market.

So what would I do to make money in Ecuador property? Stay tuned to this newsletter and you´ll find out!

Hasta pronto, if you liked this you’d love my Insider’s newsletter on living and investing in Ecuador,

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