Yes, the owners do extend financing down here, but usually when selling new construction projects, not so much with vacant land.
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This week on the Ecuador Insider’s Newsletter we’ll take an inside look at how much you can make running a banana plantation in Ecuador… a real cash cow…!
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In Ecuador, everyone’s electric bills are paid half by the government, and half by the people who consume the electricity.
But in a recent ruling, the government has decided to eliminate the subsidy for people who consume more than 500 KV per month, generally affecting the rich and business owners who consume a lot of energy, for whom they are looking at an electric bill soon to be double of what it was.
As for the common folk, who pay around $5-15 a month for an average to small consumption, their bills won’t be affected.
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This week I started my property hunt in Ecuador on my $30,000 skin-tight budget. First step, secure financing.
The beauty of investing in Ecuador is that I actually can find a desirable investment with just the $30,000 cash on hand at the moment… no hefty mortgages needed.
But, when property flipping, “leverage” is important to consider. The rule of “leverage” when used by property investors basically means it’s always better to use someone else’s money because your overall return on investment (ROI) can increase. I agree, although the level of risk does increase when using others money.
Some experienced property flippers like “hard money”, or money attained from private lenders. I don’t. I’ve found hard money lenders to be extremely controlling, to the point where I almost feel like I’ve become their employee.
And taking on partners can be a bit of a risk too. It’s true that the worst business model is the partnership… most end badly.
So how did I secure a quick $20,800 in interest-free money this week for my current Ecuador property hunt?
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This week the southern countries of South America like Argentina, Paraguay and Brazil are experiencing an extraordinary cold wave. It snowed in Curitiba, Brazil. In Asuncion Paraguay it hit a record low, -1 degrees C.
Many people ask why choose Ecuador with so many other “sexier” options in South America… well, for 3 months a year, Argentina is cold! So is the southern part of Peru and Chile. And now with the global climate changes, even parts of Brazil and Paraguay are also becoming cold for parts of the year.
Ecuador remains mildly warm year round thanks to it’s location straddling the equator.
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