The property flipping dilemma on the beach in Ecuador

OK, so I have flipped property on the Ecuador coast with success.

But it’s obvious to me now after doing it that that’s not where the real money is.

You see, truth-be-told, a lot of the cheap, Ecuadorian-made homes, especially on the coast, simply don’t meet North American standards, and chances are you’d spend more to fix it up then the whole place is even worth. Wood is the quintessential fence material. It is relatively inexpensive and you can find it pretty much anywhere. Wood has been a forefront building material since old times, and its popularity hasn’t waned even with the development of vinyl as a low maintenance alternative. But if you really want the mark of a professional, get the job done right with the expertise of privacy fencing brisbane. 

So, what’s the opportunity?

Build your own house.

And that’s exactly what I’m going to do starting later this week.

Can’t say I don’t practice what I preach.

Below is the plan for my new project… in Puerto Cayo, just south of Manta on the coast with a beautiful oceanview and a short walk to the beach.

Might be a little hard to see, its just a quick pic from my cell phone of the blueprints the architect gave me.  The nice oceanview is to the bottom right of the plan.

 But here’s my thinking based off my experience selling property on the coast of Ecuador.  

3 bedroom, 2 full bath.  That’s as small as I want to go, even though most people who move here or retire here are moving down as a couple or a solo person, I’ve seen they still prefer at least 3 bedrooms because they like having at least one guest room for their kids/friends visits and one room they can use as an office or storage den.  While 4 or 5 bedrooms is often a little much.

2 non-master bedrooms separated by bathroom.  This is nice cause the people in one bedroom won’t have to walk through or outside the room of the other to get to the bathroom. Find more plumbing services in Manassas to make sure your bathroom is well maintained.

Spacious kitchen with island.  Important for extra space and entertaining.

Plenty of closet space with walk-in closet in master bedroom.  From my experience, especially women really focus on closet space, important!

Laundry room with door to exterior so folks can take advantage of the nice weather and walk outside to hang clothes on a line like the locals if they wish.  Plus, you got to have your machines inside and out of the elements to prevent from rapid erosion in that ocean air. Additionally, insulating the rooms with the help of experts from All Seasons Insulation 7665 Palmilla Dr #5124 La Jolla CA 92122 (858) 225-1316 or you can get redirected here to prevent the elements from affecting the room.

A dining area and patio with a BBQ area and sliding glass doors that take full advantage of the nice ocean view, if you need special doors for your home going here will lead you to a contractor that can help you.  Especially us North Americans, like a good BBQ on the beach.

2 sinks and a bath tub plus shower in the master bathroom which will also be extra spacious.

Raised floor of house by about 1 meter so that even if there is a 2 meter fence around the property the house will still have a nice oceanview over the fence and you can use a company from this homepage to help with a fence like this.  Plus this should help keep moisture and insects out.

Spanish-tiled roof with porcelen tile floor.  The roof because thats the style most expect when down here  and its good for insulation and the flooring because with the humidity of the coast that’s really the best option,  so if you want to get the best services for this you can find more here about this.

1-story only making it good for older folks who don’t do stairs, I have found some designs from Adelaide stairs with ramps for those.  Plus, this will lower construction costs a lot because I won’t have to invest in a lot of rebar as needed when making a floor-roof (losa in Spanish).

An outdoor shower for getting the sand off before entering the house.  This also has to be easily unaccessibled if the house is going to be vacant for a long time, don’t want this to turn into the community shower.

170m2 (1829ft2) of construction on a 337m2 (3627ft2) lot.  Nice spacious house with a small but cozy yard for a garden or the pets.

Minimal use of wood and metals with a focus on materials like aluminium and other materials that won’t erode like crazy in the salty ocean air.

So that’s the basic concept and thinking behind the plan, if you have any suggestions just click on reply to this email.  I’ll keep you informed every step of the way from the ground breaking to the sale!

Datson Fence – installation and maintenance of wooden fencing

Now, how to find the best-priced properties in Ecuador? For that and more subscribe to my weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time: Insulwest Pty Ltd

 

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FBI check now needed to live in Ecuador, really?

I didn´t believe it when I heard it.

In fact, even though it´s not my main business in Ecuador, I´ve helped over a dozen people get their residency visas to live here in Ecuador.

And the last couple I helped just 3 months ago in mid-December.

The last several I´ve helped it just took one day.  So I just charged a daily fee ($150).

One day.  In and out, file submitted.  Approved in two weeks.  Come pick up visa, get cedula (Ecuador ID card).  Stay in Ecuador as long as they want.

It really is that simple.

But now, as of 2015, I confirmed in the Quito immigration office talking to the officials a few days ago in March, it´s just got a bit harder.

Specifically harder for Americans, or people from the States, who want to live in Ecuador.

Americans now need a state-wide police check AND a federal FBI level check, which sometimes can take months to attain.

Before, a simple police check from your local town would suffice.

Easy… actually it was WAY too easy.

And easy to game the system if you know what I mean, so maybe this change is ultimately good for Ecuador but for us people applying to live here it just got a bit more complicated.

So why just for Americans?

Well, the new requirement officially states, people from countries with a federal government need both the state check AND federal police check, but really, as one friend who does this for a living tells me, they are only applying this new visa requirement to Americans and Canadians (for now).
Better time than ever to consider getting a second passport!

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Rejected by the cartel in Ecuador

“This isn’t exactly how I pictured it would be.” I thought to myself, as I sat on an uncomfy couch in an office with all white undecorated walls.  The receptionist seemed to be going through the motions of her job.

I expected a scene with hot women in bikinis serving cocktails while men in all white suits sat around a pool smoking cigars, and of course dudes with machine guns in the corner.

Finally, a young guy came out and waved me into the next office.

I sat down, waited some more.

And in came another guy, also young, younger than I expected and in casual attire.

“So why do you want to join our organization?” He asked pointedly.

“Well, it just seems profitable.” I continued.  “I mean, to have a monopoly on a certain business type within a certain area.”

“You know, once you’re in there’s no way out.” He said.

“Yea, I figured as much.” I said.

“So how much?” I asked.

He said, “$2500 a month rent plus 30% of all sales.”

“Top line, not after taking out expenses.”

“And you need someone there 24 hrs a day.  And they have to be certified persons only.” He finished.

Wow, I thought, no way I can make money like that.

I said thanks for the interview and excused myself.  I could tell they weren’t all that interested in me, and nor was I in the opportunity.

You see, I was interviewing for a space in the new Quito airport based off a proposal I had sent prior about putting a lugagge storage center.

I referred to the airport administration people as a ‘cartel’, cause to me it kind of felt like one, and I felt on the outside although they are not a ‘cartel’ as you or Hollywood would probably define it.

Sure enough, they took my proposal of a luggage storage center/locker area and gave it to someone else, probably one of their cronies at a discounted price, and they’ll be opening any day now.

You see, things sometimes work different in Ecuador.  People aren’t always motivated by money.  Sometimes its more of a who-you-know or even rich people putting trophy businesses that don’t actually make money, but serve as a place to stash their cash.

I know, it’s wierd.

But they can’t stop me from getting into the business in a different way, a way that would have scared the sh!t out of me if I would have opened paying the high rent in the airport.  From my hotel near the airport, for several months now successfully, I’ve been offering bag storage pick up and drop off service for a fee of $5 per pick up(total) and $1 per bag per day for storage.

You see, paying the airport rent, they are probably going to charge around what they do in the Guayaquil airport, $7 per day per bag, and more for bigger pieces like surf boards.

Of course, there will be people who will pay it for the convenience if leaving bags for 1 or 2 days, but for storage 3 days or longer as long as I provide a reliable service I think I have them beat if I can offer the same thing for less than half the price.

But hey, you know, there’s a reason for everything and this newsletter is not just about my successes as an expat and entrepreneur in Ecuador, but also my failures.
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No TVs, no problem in Ecuador

“I can’t believe that just happened, man!” My friend mumbled, still fuming from his experience upon arrival to the Quito airport.

“I just had to pay $250 in import tax for this TV I brought that doesn’t even cost that much in the States.” He continued.

“It comes out to about the same as just buying one here, and I wouldn’t have had to lug it around all day!”

I know.

It’s stupid.

Ecuador doesn’t even let you bring ONE TV over 25 inches with you from abroad, even if its for personal use.

With just about anything else, even cell phones and computers, they’ll let you bring one or two on your person as you travel to Ecuador as they’re deemed for personal use.

But not TVs.

Obviously, they’re trying to protect the raging Ecuadorian industry of TV production.  (Insert sarcasm here.)

Thankfully, technology is always one step ahead.

And on my last trip back to the US about 2 weeks ago, I found a viable option.

It was my second to last day in the States, and as I walked through a Kohl’s store with my mom in Montana, I noticed something interesting.

Originally meant for gamers, I saw these new-age, ultra-cheap home projectors that you can plug directly into your Direct TV cable box, your XBox or DVD player that then project on any surface, but preferibly a white wall, a picture up to about 120 inches. Check out this guide from BuyDLP.com on the best projectors for reasonable prices.

And the resolution is surprisingly crisp.

Obviously not High-def.

But good.

And they only cost $55 as of the last week of December, 2014.  And if you sign up for a Kohls card, you get 30% off.  Total spent, $38.50.

They are not common in Ecuador, and upon arrival to Ecuador I quickly checked with a few of the biggest electronics stores to see if they carried them.

Nope.  Not yet.  But I think they could be BIG in Ecuador in the very-near future.

Especially if import restrictions continue to tighten on TVs.

What I really like about these are that they are more portable than a normal TV, and for someone with a property on the Ecuador coast… I feel more comfortable leaving this in there when I’m not there for long periods of time then an expensive TV (huge target for thieves).

Here’s one example of one for sale on Amazon complete with USB port for projecting images from a computer or smart phone as well as the HDMI and 3 pronged outlet cords for projecting TV programming from your cable box.

Here’s one example of one I found on Amazon… http://www.amazon.com/dp/B00MAH0CTU?psc=1 

In fact, can’t say I don’t practice what I preach… I’m in the market for about 10 of them right now.

So, if you’d like to bring one down with you let me know!

You could bring one or two down with you hassle-free for sure as they would surely be deemed for personal use.

Now, how to find the best-priced properties in Ecuador? For that and more subscribe to my weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time:

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The biggest mistake new expats make before they even get to Ecuador

“Oh, man. What did i get myself into?” I said to myself as I arrived to my new craigslist rental I found online which ended up being on the wrong side of the river in a ghetto of Santo Domingo, in the DR.  

That was the scene for me a few years ago when moving to the Dominican Republic, since moving in the states is more easy with services as St Petersburg moving companies that help with this.  

But I see it all the time.  

The BIGGEST mistake new expats make is they often find a long term rental (and begin paying it) before they even move to Ecuador.  

I’ve seen some even pay a rental for over a year before arrival.  

Big mistake!

Often, they will arrive and for one reason or another not like it wasting all money already paid and losing their security deposit.

It’s hard to grasp how it would be living somewhere long-term by a few online photos or even a short visit.

So I say WAIT until you get to a new country to find a long-term place to live.  If you make a bad choice in hotels who cares?  It’s just for a few nights.  

Tomorrow I’ll give you an even better alternative.  

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

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