Archive | Investment Opportunities

How Moving to Ecuador Got Me Out of Debt

domenick buonamici

That's me, in white, your host, Domenick Buonamici being interviewed by a TV Station in Ecuador


I’ve been reporting for this site for a few months now, thought I’d formally introduce myself by telling a little about me in this post…

I was born and raised in a suburb near Cleveland, Ohio. My childhood years consisted of playing baseball in the summers, skiing in the winters, and in the fall going pheasant hunting with my dad on the weekends, then coming home in the afternoon to watch the Browns lose. Good times.

In 2001, I went to college, first in Ohio, then Hawaii, then to finish in Montana.

In 2005, I graduated. I had no idea what I wanted to do with myself at the time, so I took off on a long trip abroad.

I backpacked through Europe, Mexico, Colombia, Ecuador, Peru, Bolivia, Brazil, Uruguay and Argentina.

After my almost year-long trip, I decided to pull up and live in Medellin, Colombia. I stayed and did an unpaid internship in the local chamber of commerce for about half a year.

It was there where I started seeing the enormous (and legal) business opportunities that exist in Latin America…

After that, I decided to go live in the Philippines for a few months, then the Dominican Republic for 6 more…and so on for a bit…

But through all the countries I traveled and lived, Ecuador was one of my favs.

So I decided to come back, only this time, with a mountain of student and credit card debt on my shoulders from all my travels and studies.

As my friend in the States told me, “I’d love to move abroad, but I am in too much debt.”

I shrugged when he said this, thinking to myself that I was in the same situation…but, I decided to leave anyways…

And it paid off.

Within a year I had paid off my thousands and thousands of debt with money I made in Ecuador.

I started investing in Ecuador real estate, which I found fascinating, due to all the incredible deals that could be had if you know where to look…

I bought a small piece of beachfront land I soon resold for a nice gain.

I then began to learn Spanish so I could provide marketing consulting services to local Ecuadorian companies.

From my work as an independent consultant, I gained insight few foreigners have in Ecuador (selling to locals), and I soon realized how easy it was for a “gringo” to find work in Ecuador. (Ecuadorian businessmen really like listening to other, foreign points of view.)

That led to me working for several local travel agencies and hotels that sell Galapagos and other destinations in Ecuador on improving their websites to increase their online sales.

Now I am here with you as the lead reporter for this site, detailing all the latest and hottest investor and expat news daily in Ecuador.

Ecuador truly is a land of opportunity, everywhere you look there is something to do! I’ll give examples in upcoming posts and my weekly newsletter.

In the States, I would probably be pushing papers in the corner of some office somewhere paying my dues as a young guy while taking orders… in Ecuador, you can give the orders!

Sincerely, your host, Domenick Buonamici…go ahead ask me your questions about Ecuador in the comments…I will respond…

dom buonamici

Me in front of a group of Ecuadorian businessmen while consulting

Get weekly updates on all the latest insider investor and expat happenings by joining the Ecuador Newcomers Club now below (you can unsubscribe at any time):

First Name
* Email
* = Required Field

Posted in Investment Opportunities

July Ecuador Real Estate Prices Breakdown

real estate in canoa ecuador

Beautiful Canoa Ecuador

Every 3 months on my Weekly Ecuador Insider’s Newsletter I try to bring you a market pricing report, instead of the normal investor news; here is a rundown of the real estate pricing changes I have seen over the last year in Ecuador:

BUILDING IN ECUADOR

As seen by me:

Building in Ecuador- $30-35 per square foot of construction for finished house. ($50/ft for a luxury finishing)

As reported in a good article by the NY Times in 2010:

Building in Ecuador- $46 per square foot of construction for finished house. ($73/ft for a luxury finishing)

OVERALL PRICES


As seen by me:

Overall:

Over the last 5 years prices have risen about 10-12% a year (even during the financial crisis years)…but in well known towns appreciation has been a little more….

And I have seen more appreciation on the really cheap properties. Especially due to the new low interest loans the government is issuing to locals for purchases under $60k.

The cities:

Quito and Cuenca are the most expensive places to buy a suite or apartment, with prices for a small one bedroom suite starting around $30k and for a 2 or 3 bedroom apartment in a decent area starting for around $50-55k.

Nearby Quito, in the Tumbaco Valley the real estate market has really taken off, 10-15 years back the area was just farm land, but now prices are ranging from $75-110k for a 120 sq meter 3 bedroom house.

Today, in Quito’s Colonial center, prices for renovated apartments are about $1,000 a square meter but fixer uppers can be had from $75-400 a square meter.

Renting in Quito is still relatively cheap…. A furnished room in a nice area is starting around $100-150/month, while a luxury furnished suite in a nice area is around $400-480/month, a 2-3 bed apartment decent area furnished $420-490/month, and a 2-3 bedroom apartment unfurnished located in an acceptable but lower income area $200-240/month.

In Cuenca costs for a new 2 bedroom apartment with nice tile and teak wood furnishings average around $45k-65k. A more luxury, 3 bed 2 bath condo…

To read the rest of this article, fill in the following blanks and I will email it right over and subscribe you to my weekly Ecuador Insider’s Investor list (you can unsubscribe at any time)…domenick:

First Name
* Email
* = Required Field

Posted in Investment Opportunities

Oceanview land for sale in Olon

900 sq. meter lot of land for sale in hills behind Olon…

The lot does boast a beautiful ocean view but does not have good road access nor water, electricity or phone services…they would have to be connected…Hasta pronto, Domenick…hey, if you liked this, you’ll love my weekly Foreign Investor’s newsletter for insider tips and opportunities in Ecuador…subscribe below(unsubscribe at any time):




First Name
* Email
* = Required Field

Posted in Investment Opportunities

Vacation Rental Business for Sale in Guayaquil

Vacation rental business with 80% occupancy for sale close to the center of Guayaquil near the beautiful new Malecon de Salado. (Net Sales are on average $4000 per month with $800 in expenses)

3 suites completely furnished with complete kitchen, refrigerador, AC, WIFI internet and a plasma TV in each suite.

Additionally, the area has a living quarters for the on site maintenance help and a small storage area that can be converted to an office.

Write us through the contact form for more info…thanks…

Hasta pronto, Domenick…hey, if you liked this, you’ll love my weekly Foreign Investor’s newsletter for insider tips and opportunities in Ecuador…subscribe below(unsubscribe at any time):




First Name
* Email
* = Required Field

Posted in Investment Opportunities

Guayaquil Ecuador Real Estate

Guayaquil Ecuador Real Estate

Posted in Investment Opportunities

Playas Ecuador Real Estate

Playas Ecuador Real Estate

Posted in Investment Opportunities

Cotacachi Ecuador Real Estate

Cotacachi Ecuador Real Estate

Posted in Investment Opportunities

Quito Ecuador Real Estate

Quito Ecuador Real Estate

Posted in Investment Opportunities

Free Ecuador Real Estate Prices Report

Fill in below to receive your report now and subscribe to the weekly newsletter the pros use before investing in Ecuador:

First Name
* Email
* = Required Field

Ecuador Insider Guides

Ecuador Insider Guides for Foreign Investors Ecuador Income Tax
     
     
     
     

Videos, Slideshows and Podcasts by Cincopa Wordpress Plugin