The Ecuador Insider

There they were,” I thought as I spotted them walk out the Guayaquil Airport gates.

I threw out my cigarette and walked over to greet them, a Canadian couple who had asked me to help them find a home deal on the coast of Ecuador. As we caught a cab they began to mention what they were looking for… “A livable, turn-key house with few needs for improvements…not a condo… right on the water- oceanfront, not even one row back… maximum budget $50k”.

Jeeze, I thought to myself, these guys have been reading too much Ecuador hype on the net. Yes, the kind of deal they’re looking for can be found with some down-and-dirty local-style house-hunting like how I explain in my Ecuador Property Guide, but I knew it would be difficult to find something they liked in the week they had in Ecuador.

We started in Salinas and started to work our way up the coast. We found houses a row back from the ocean for under $50k, but the homes on the water, beachfront, that were livable needing little work were a bit over budget, all starting around $70k…

We looked and looked, until finally we DID find a beautiful white-washed Mediterranean-style 3 bedroom home with big glass windows facing the ocean they loved, with a porch seemingly jetting out right over the water- listed at $45k, but it was out in the middle of absolutely no where…and they didn’t like that. Finally, they gave in; disappointed that they spent thousands on flights and couldn’t find what they were hoping for. Their demands simply were too rigid for the short time they allowed to house hunt.

A few things we can learn from this experience. Understand realistically what $50k will get you in Ecuador in 2011 before you come… Talk to someone locally or ask me… But basically, $50k or less can get you a 1 or 2 bedroom condo in decent areas of Quito, Cuenca, Manta or Guayaquil (but you might have to search a bit). Also, it could get you a livable house in need of a little TLC and some improvements starting a block back from the ocean on the coast. On the water it will be a bit more expensive.

As for vacant land, you could get a large 1 hectare lot out in the countryside which may sell for around $5 a square meter (total $50k). Or a smaller 250 sq. meter vacant lot closer to the ocean in a town on the coast ($60-90 sq meter). But prices in Ecuador vary greatly so the more time you give yourself to look, the better…

To read the rest of this article you need to sign up for my newsletter below (you can unsubscribe at any time)…

First Name
* Email
	* = Required Field

Farming, then exporting. Another big opportunity to make money from your property in Ecuador. Learn how to get started this week as I report from Anyang, China, where I will be for the next 10 days on an Ecuador-export-related mission.

I’ve noticed a lot of interest in owning a farm in Ecuador. It makes sense considering Ecuador has everything from deserts to the fertile valleys of the Andes to the jungle (all packed into an area about the size of Nevada).

Anything you want to grow, you can probably find the climate and elevation for it in Ecuador. It’s true, the land is more fertile than a date on prom night!

For instance, the strawberries sold street-side in Ibarra look like freaks of nature (in a good way).

Overlooked by many Ecuador exporters, China, with 1.3 billion people and a raging need for raw materials and produce, should not be. A few observations:

I’ll be reporting on this in depth shortly from my site, but currently, wood is one of the top exports from Ecuador to China. For instance, Bamboo and Teak Wood are easily grown in Ecuador and highly sought after in China. Ecuador’s top exports also are in high demand in China… the Ecuador top 5 (besides oil) are Banana, Coffee (unprocessed), Cacao (unprocessed), shrimp, and tuna. I know several shrimp farmers on the coast who export. And yes, many Chinese are coffee drinkers.

Other hot Ecuador exports that could be farmed and do well in China are raw leather, rubber, plastic, alpaca and even flowers (particularly during the Chinese holidays, like Chinese New Year or Valentine’s Day where I see the Chinese have picked up the custom to give their loved ones flowers).

To begin exporting in Ecuador:
1. Go to the governmental website cae.gov.ec where you need to register as an exporter.
2. Go to the SRI office (like the IRS of Ecuador) and get a RUC number (like your tax ID number).
3. Get the needed certifications or authorizations depending on the product being exported. To find out which you may need contact Corpei, a public institute I like that helps exporters in Ecuador, or try a freight forwarder.

To find buyers for your products:
There are the more expensive, traditional ways of finding buyers like trade shows, but simply publishing on the internet is very effective in today’s world. Currently, Alibaba.com is the leading international trade site on the planet… and a great place to post your products and find importers. It also helps to have a simple website that can be found in Google. Or if you want to be a little more aggressive you could look in the Yellow pages online for importers in your sector and reach out to them.

The exporting process:
1. Buyer contacts seller (you!) and asks for a quote, you give it.
2. Buyer and seller agree to price, quantity and terms and seller sends a “proforma” which specifies terms of payment and shipping info.
3. Payment…usually a bank to bank transfer involving a letter of credit issued by the buyer’s bank…then ship!
Now, to find the perfect farm for you at the lowest price possible, you’re going to want to read my full Ecuador property hunting guide found here, it could literally save you thousands knowing how to property hunt like a local.

If you liked this, you’d love my weekly newsletter! Sign up below to be sure you receive it this Sunday when it goes out (you can unsubscribe at any time):

First Name
* Email
	* = Required Field

I get a lot of questions like this one…

“Hey Dom, I saw this property X on the net, it seems like a really great deal but I don’t think I’ll get down to Ecuador in time to see it before I buy, what do you think?”

Never ever ever buy in a foreign country without seeing the place first! My 2 cents. I’ve seen to much shady stuff go on to opinion differently.

Also, like many who have ventured into internet dating can attest…it’s never as nice as the pictures!

If you liked this, you’d love my weekly Ecuador Insider Newsletter…Sign up below now… (you can unsubscribe at any time)

First Name
* Email
	* = Required Field

OK, this one is now tricky compared to years past.

Now, if you go to immigration and ask to extend your 90 day standard tourist visa…they’ll tell you you can’t!

In fact, you can, but with the help of a knowledgable lawyer… who will proceed to get you the 9-II 6 month tourist visa.

Or, you can do like most do and leave Ecuador to a nearby country for a day or two and re-enter…getting a fresh 3 months (but you can only be in the country for a total of 6 months as a tourist in a calendar year).

hope that helps, Dom

If you liked this, you’d love my weekly Ecuador Insider Newsletter…Sign up below now… (you can unsubscribe at any time)

First Name
* Email
	* = Required Field

Located in sleepy Ayangue, Ecuador, about 1 hour north of Salinas.

Newly finished home with incredible ocean views for sale:

It is 3300 SF Ocean views from all most every room.
3 large BRs
4 bath rooms
Nice open kitchen that opens up to covered patio, grill area, dinning room, living room
Large laundry area
large walk in pantry built to accommodate a maid.
2 nice master suites with covered deck and patios
Covered large front deck.
1200 SM ocean front lot with stone fence all along the lot.
Custom hard wood doors, closets, cabinets.
Custom hard wood beams and Tongue and grove wood ceiling
Clay roof tiles
Granite counter tops
Upgraded plumbing fixtures & faucets.
Custom built lighting to high light the wood ceiling and have quality lighting.
Nice landscaping
If this house and lot were in Costa Rica, Panama or Mexico it would be $1,000,000
It has been built by 2 American contractors with 80 years combined experience.
Asking $274,900.

FOR MORE DETAILS please contact the seller directly at
Robert Hampton
robertsellecaudor at gmail.com
093442192 Ecuador
0059393442192 from USA

If you liked this, you’d love my weekly Ecuador Insider Newsletter…Sign up below now… (you can unsubscribe at any time)

First Name
* Email
	* = Required Field