Author: Journeyman Jack Ecuador

Recently, a friend started a pizza shop in Ecuador.

3 months later he was done and out of business.

Another friend just started an Italian restaurant.

He looks to be done within the month.

For me, what´s the key to starting a business that lasts no matter where you are in Ecuador?

Accommodations.

For instance, what if your passion and what you REALLY want to do is start a surf school, or a restaurant, or a yoga retreat center?

Then offer accommodations in the form of a vacation rentals-hotel-B&B and on the side offer the retreat center/restaurant/school.

People got to sleep somewhere, then they gotta eat. Then, they got to be entertained. Might as well all be with you. If you can give them a reason to stick around longer all the better.

This will keep you in business.

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

Fill in below to sign up now (you can unsubscribe at any time):

Even Warren Buffett says farm land is one of the best longer-term investments you can make.

And in Ecuador, desirable farm land can still be found dirt cheap.  For instance, $1000 per hectare or less.

Yesterday in fact, I was chatting to one guy who exports plantain weekly from his farm in Santo Domingo to New York.

But a lot of people don´t realize there are actually various innovative income streams you can generate from the same farm.

1. Sell plants.  All you need is a small greenhouse on your property and preferably a major road frontage and you can actually do quite well selling plants.  I have made money selling red raspberry plants around $5 a pop and they don´t really cost me anything to produce as they are just the off-shoots from my existing bushes.  It helps if the plants you sell are not widely found in Ecuador.

2. Offer bird-watching tours.  Birders come to Ecuador in hoards and they often have BIG money.  Offer guided tours on your farm or better yet host them at a lodge on your farm.  All you need is that one rare bird that interests them and they´ll come.  And spend, often $100-200+ a night!

3. Distribute.  Don´t just grow, buy up the neighboring product and export, this can be done before your crops even start producing (and is a good idea to do so as you gain market for your coming crops).

There you have it, three ways to generate more from your farm in Ecuador.

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

Fill in below to sign up now (you can unsubscribe at any time):

I got a text earlier this week…

“I got what you’re looking for. (In Spanish.)  500 meters oceanview lot in the area you looking for for $25k.  Or how about $65k for a 2000m2 beachfront lot?”

“Is it negotable?  Got anything else cheaper?” I replied.  

I had no idea who I was talking to.

Turns out he works for the local Municipal and knows personally the owners of several lots in the area. 

He contacted me. 

All I did was a week or two prior give out my card in a local restaurant and mention I was looking for property in the area.  Often, that’s enough in a capital-deprived place like Ecuador.  So have cards made when property shopping in Ecuador.

It’s certainly not like my college town of Bozeman, MT USA where I’m also property shopping right now where most places are selling for at or above asking price. 

I’m thinking I might just stick to Ecuador for now. 

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

Fill in below to sign up now (you can unsubscribe at any time):

I’ve seen this one a lot in Ecuador. 

In fact, it just happened to me.  

I put an offer in on a property, and it got accepted, immediately.  

And I felt like crap knowing, shoot, I probably could have got it for less.  

And I probably will now back out of the deal.

There are a lot of motivated sellers in Ecuador.  

If you’re a seller don’t commit this mistake… even if the offer sounds great, never accept the first offer as tough as that may be, you’ll make the buyer feel like crap and may decide not to go through with it.  It’s important to make them feel like they got your bottom dollar price. 

And if you’re a buyer in Ecuador… learn that you really should make offers WAY below what you feel comfortable offering based on the asking price.  You never know here.  I’ve seen people offer 50% of asking and get it, other times they don’t budge 1 cent off asking.  

Never know until you try, it’s a bargaining culture!

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

Fill in below to sign up now (you can unsubscribe at any time):

Are lawyers basically worthless in Ecuador?For title checks on property, I´d say yes.

Because they´re gonna do exactly what you yourself could do with a quick trip to the property registrar (registrador de la propriedad) in 20 minutes and $20 later getting the certificate of registry or history of the domain (certificado del registrador).

This certificate is how the common Ecuadorian quickly identifies rightful ownership, it also shows if there are any leins or mortgages out against the property and all the transfers of ownership the property has had in it’s history. Fire is a beautiful element. It rages in amazing colors, it provides light, offers warmth and can be used to prepare food. However, fire is not always perceived as a positive force. It is also something that can cause severe destruction to anything that comes within its unprotected path. Proof of this can be found in the damage to forests, homes and businesses. Yes, fire is both a pro and con in the world. Thankfully, we can take a variety of actions to help protect ourselves, and the things we hold dear, from the destructive nature of fire. These actions may seem minor, but when it comes to fire protection, no action is too insignificant. After all, in the case of a business fire, the structural damage combined with the loss of product, manufacturing potential, invoices, client records and then time spent being closed due to reconstruction is something from which many companies never recover! More distressing, is that often fire damage such as this could have been avoided by having had a commercial fire protection for critical infrastructure system installed. And, when it comes to the value of a fire protection system in a home, the value of that is priceless. So, what are some fire protection steps you can take to keep your home, family or business safe? Here are some of the most recommended precautions from the National Fire Protection Association: Every home should have a multi-purpose extinguisher (can be used on all types of home fires) that is large enough to put out a small fire, but not so heavy as to be difficult to handle. If you have a multi-story home, consider having at least one per floor; be especially sure that you have one in the kitchen,as this where a majority of home fires start! Be sure that the people in your home know how to operate the extinguisher in the event of an emergency.

You can see an example in the pic below of one property I am considering buying in Guayaquil, where the last transaction was a donation from father to daughter in a divorce settlement.

You could also take your DIY title check a few steps further by taking the following precautions: 

– Only buy property with clearly established boundaries like an old-looking wall or clearly defined land features (like a river) or apartment unit number as defined in the escritura (title).

– Verify neighbors identity as established in the Escritura.  Although this may be out of date some.

– You could also physically measure all boundaries of property as miscalculations of area on deeds are common, but better to know before you buy.

Hasta pronto, if you liked this sign up for my Ecuador Insider’s newsletter so you can check out my latest posts(not available online) on living and investing in Ecuador:

Fill in below to sign up now (you can unsubscribe at any time):