Category: Ecuador for Investors

Winter is coming up north.

And expats are on the move.

In fact, most expats in Ecuador like the freedom of flying on one-way tickets. You know, not being locked into a return date. I know I do.

Even though on the government sites it says you need a round trip ticket to enter Ecuador, I’ve flown here various times on one way tickets and have been stamped right in, no problem. Sometimes it depends on the airline and departure point so best to inquire first. But on the Ecuador side, Ecuador immigration doesn’t seem to care much.

For this coming December (2013)-January (2014) most round trip air tickets from the USA to Ecuador are running around $600-800. You might as well rent a passenger jet for this exorbitant price.

But the dilemma is most one-way tickets are generally about the same price as the round trips if searched through the major travel sites and airlines.

After extensive research I did for an upcoming trip back home to the USA, the cheapest one-way ticket I’m finding this upcoming holiday season is to fly from Fort Lauderdale, Florida (FLL) to Panama City (PTY) for $78 (all taxes and fees included) with Spirit Airlines purchased directly through their site spirit.com (in early January).

Then from Panama City (PTY) to Quito (UIO) there is a Tame flight for $244 found doing a search on Kayak.com (Also that second week of January) .

Even directly in the Tame offices here in Ecuador they are quoting prices higher than what’s offered by Tame through Kayak.

Total Miami to Quito with all taxes and fees included = $244 + $78 = $322.

And buying the one way fare going back comes out to about the same. If you try and it comes out higher play with the dates, know the days and weeks around Christmas and New Year prices on travel always jump.

So how much did you pay for your air ticket to Ecuador?

Did you beat my find, where’d you buy your tickets? Offline, online (which website and for what dates)?

Share by hitting reply to this email. Thanks. We´d all love to know!

And to learn what local fishermen taught me about how to find the hottest steals on the Ecuador property market, try my must-read weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time:

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“Man, I haven’t done that since I was a 20 year old in college in Waikiki with nothing to do.” I responded as my friend and I walked the dark streets outside a bar we just visited in Quito.

You see, in the US, for a 20 year old, there isn’t much to do at night except get into mischeif on the street, because almost no night establishment will let you in the door.

So one of our favorite past times was to go to this one street in Waikiki where hookers hung out and chat them up. They are some of the wierdest people you’ll ever meet which always made for interesting conversations.

Now here I was, years later in a dark street in Quito with a friend getting egged on to do the same thing as we approached a corner that always had streetwalkers.

“OK, lets do it.” I was never a match for peer pressure.

We picked one particularly hot looking one to chat up. And as we approached we quickly realized this gal was actually a dude (as is usually the case).

Then when she spoke it was obvious. She was a dude. “Hola mi amor.” she began in her deep raspy voice.

“Hey.” I started in Spanish. “So where you from?” I asked.

“I’m from Esmeraldas.” She said.

“Cool, beautiful area, I was thinking about buying a house there.” I continued, trying to break the ice.

“I have a house there.” She followed.

“Oh really, how much you pay for it?” I asked matter of factly.

“I didn’t, it was a land invasion.” She boasted.

Then two of her friends walked over and joined the conversation.

One of them said… “I also have a land on the coast.”

“Got it through a judgement.” She said. (Which is basically a more legal way to claim unclaimed lands in Ecuador.)

The third one piped in… “me too, I have a land in Esmeraldas also.”

She continued, “My father was a comune member, and was gifted the lot, then he died and left it to me.”

Wow, I thought, so there you have it, on the coast of Ecuador it seems like only foreigners actually pay money for the land.

So when you’re about to buy a property, it’s even more important to research the title history, and look smart by asking for the following documents right away so you don’t waste time on a property with possible title issues with various people making claims of ownership (which is COMMON)…

-Copy of the notarized title (Escritura)
– Copy of the property taxes receipt (Predios)
– Certificate from the Property Registry (Certificado del Registrador de la Propiedad)
– Certificate from the Municipality (Alcabalas)
– Receipt of the Fire Department tax (Certificado de Bomberos)
– Municipal appraisal (Avaluo Municipal)

So there you have it, how streetwalkers in Quito enlightened me about Ecuador real estate.

And to learn what local fishermen taught me about how to find the hottest steals on the Ecuador property market, try my must-read weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time:

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You got to be careful in Ecuador when investing in property, man.

You see, you´ve probably lived your whole life taking for granted a right in the US, Canada or Europe that simply is not held as dear in countries like Ecuador.

The right to sleep in peace.

Seriously.

I remember from my time living in the US if a neighbor was making noise at an unpleasent nightly hour the cops often would beat me to the punch and be over there quieting the people down. If not, a simple call and they’d be there within a few minutes.

Not in Latin America. And not in Ecuador.

Call the cops on a noise complaint. Chances are they don’t even show up.

And if they do show up, the locals probably won’t even take them seriously.

Different culture, different place, different values.

The last 4 months I was leasing Hostal El Viajero here in Quito and using it as an auxiliar second location to my primary business Quito Airport Suites, a small hotel near the airport in Quito.

At the beginning, I saw El Viajero struggling so I swooped in and made a deal with the owner who initially didn’t have plans to lease but instead run it himself.

After a few days I realized what I got myself into.

Right next door was a makeshift, illegal (without permits) dog kennel.

As the weeks passed the kennel grew and at any given moment, at any hour, the dogs could be ticked off and trust me, no amount of sound proofing can help against the thunderous roar of about 50-100 dogs yelping.

We filed the complaint with the Municipal.

We complained to local authorities including the police.

We talked to the owner of the kennel.

Nothing helped, months later the kennel remained, and the hospitality business next door just wasn’t feasible.

I really felt bad for the owner, who must have invested well over a hundred thousand in the construction of an otherwise nice building in a good location. As a renter I simply turned the keys back to him and left.

His problem.

Its absolutely essential before you invest in property in Ecuador to study the surroundings and see if the noise level is to your liking. Cause your surroundings are very hard to change later. You’ll also need a little bit of vision to also see what could be in your surroundings later that may be problematic.

Spend time in an area at different times of the day, and actually spend significant time there before investing. Talk to neighbors. Get the real scoop, you’ll be glad you did.

At the very least, noise level is something you may not even think about before investing in countries like the US because its a non-issue, but its something you should think about in Ecuador.

Especially in some areas the countryside of Ecuador… dog barks and roosters are real noise makers.

In the cities, impromptu parties from a rowdy neighbor or car alarms, vehicles braking and horn beeps can also be an issue.

For instance, is a speed bump right in front of your house? If so, then be prepared to listen to the squeel of brakes at any god-awful hour.

Pass on that property.

In third-world countries across the globe, as in Ecuador, you and your investments are just not as well protected as they are in places like the US.

But not one tells you this before buying.

So due diligence is even more important.

And for more insider dirt on living and investing in Ecuador from the ground subscribe to my weekly Ecuador Insiders Newsletter below, you can unsubscribe at any time:

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