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

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13 thoughts on “How Moving to Ecuador Got Me Out of Debt”

  1. Hey Domenick. I am a Canadian looking to get out of the frozen north. I don’t have a university degree, trade papers, or anything like that. Is there any opportunity for someone like me down there? I have about $50,000 to invest if needed. What could I do down there with or without that money?

  2. Hey Sean, sure, there is a lot to do down here…as an entrepreneur…as an employee, more or less…please stay tuned to this site, this week I will begin mentioning the money making opportunities I have seen and taken advantage of in Ecuador…Domenick

  3. Hi im interesting on investing money in ecuador due to the fact that im in a relation with an ecuadorian and it seems to me Ecuador is like Europe after the second world war. This means it’s time that this country starts improving itself and im pretty sure as it happened here in europe everything will start revaluate soon.
    Im was thinking about buying houses after my ecuadorian wife’s name, paying them in Euro and then rent them to some trusted local people. what do you think about that?
    Actually i was thinkin g to leave the rental money i receive in a local bank account cause the % of gain seems a lil higher than here in italy where a live.
    I’d like an advice.

  4. In Ecuador you can buy under your nname as a foreigner, no problem, I think that is always the smarter way to go. Renting in Ecuador is very doable and can be profitable…will mention this on a future post…saludos, domenick

  5. Hi Dominic,
    I would like to invest some money (between 100,000 & 150,000) in Cuenca in real estate. What you think?. How long do you think it might take that the purchased real estate either land or houe or apartment will appreciate price wise?

  6. Sounds good, but instead of saying a $ amount…its best to say what exactly you are looking for… 1 bed, 2 bed, condo, house, city center, outskirts, for income, investment or living? That’s the best way to find the deals…! Domenick

  7. 43yr old married Tool and Die Maker for 25yrs. Interested in retiring there. Is there a need for my type of skilled trade at the present time?

  8. Hello Rolf, that is tough to tell, it would be best for you to come and check what is available locally and see if you can beat it…domenick

  9. Thanks for all of your information. From what you wrote it appears that prior to moving to Ecuador you did not speak Spanish. My questions are:

    How long did it take you to speak conversational Spanish?

    How long did it take to become fluent in Spanish to conduct business and feel comfortable getting around?

    Did you take structured classes or learn by interacting with others?

    Did you avid expats for a while to avoid speaking English?

    I’m asking these questions cause I’m giving great thought to a move there and am visiting the country next week for a week but my Spanish is very poor to nonexistent. But I’m a flexible person anxious to learn.


  10. Domenick are there still small properties on the ocean front available, and im not looking for high population areas. Just need small comfortable house with hydro. What roughly is the price range for property as above? The internet advertisements look way over priced in my mind. I know different areas have different climates that i will narrow down later.

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