Update

[Pete E]

As most of you guys know I was had surgury a couple of weeks ago.I have been tired and have not posted or even read much.
I feel bettter all the time but am  weak.Just going to the Mercado wears me out.
Lots of changes.As you know I am settled down withbn Bewriz,its her,no other women.We will get married in a year or so maybe,maybe sooner if  she can't get a tourist visa.We just moved in together 2 months ago so I feel no  need to rush it.She is PERFECT for me.
As of February one Casa Pete will be no more.I am still renting rooms now,$25-$40 a night,internet vonage included.
I am trying to rent a 5500 sq ft house in a gated subdivision 7 miles south of Carefore south.Its a drug seizure house,a little complicated.Its in a subdivision of one acre lots where I hope to build spec  houses.There are 43 vacant lots.It has a LAKE you can JET ski on,huge 2 story rec rooom,pools,tennnis,socccer.$30,000 for a ONE ACRE lot.I want to be right there.If that doesn't work we willl rent a condo,house in a gated community,like this one,somewhere south,Cuidad Jardine .Many People have asked me why I don't do real estate here.I saw nothing to EXCITE me at all untill I started looking in to new construction.The construction is cheap,simple,concrete,bricks,tile.These guys work for 20,000 pesos a day.The MOST EXPENSIVE ARCHITECT IN TALKED to says $32 a sq ft.I think I can do it for $20.We will see.I NEVER saw anthing look so promising.But I am in the early stages.I have an architect working on preliminary design plans,then we will proceed to final plans and estimates.A friend asked if its so profitable why aren't they doing it??? THEY ARE.There are 60 projects under construction right now.Cali is booming.Who can buy if people are so poor?Do the math.If only ONE PERCENT of the people can buy thats 20,000 people.One subdivision,they thought they might sell 8 houses the first month.They sold 40.And they will not be built for a year.
Enough untill I can absolutely tie down all the details.I am looking for partners,not to wise up people who then don't need me.
But ALL The details will be addressed and I will make deals where I make NOTHING untill the partner has made a great return.
I am jazzed.But there is MUCH to do.this is VERY EARLY ON THINKING.
I am proceeding.
I need to get to Bogota this week,renew my Visa and buy a Jeep Grand Cherokee that is there.I just bought a 94 Honda Acccord,$8300,Great Car.We will be in the BOONIES.We will need cars.Beatriz will drive the Honda,maybe 30 MPG,I will drive the Jeep.10-15 MPG only right around Jamundi.
I know exactly what I want to do.Its exciting.But I of course will modify as reality gives me feedback.

Pete

[Pete E]

... in response to Update, posted by Pete E on Nov 18, 2005

SEnd me a mail to peiguren@aol.com,subject spec houses. I will keep those people informed,no more details here.

Pete

[GHenning]

... in response to Update, posted by Pete E on Nov 18, 2005

Pete, interesting concept. I have been in the commercial/multi family real estate business for the last 15 years and would be potentially interested in something like this. If you have concrete plans at some point in the future please let me know if you would like a partner.
Good luck!

[Pete E]

... in response to Re: Update, posted by GHenning on Nov 18, 2005

Read Below.
I will keep you up to date.

Pete

[JimmySTLOUIS]

... in response to Update, posted by Pete E on Nov 18, 2005

Pete
Sounds like you might have something going.
In Lima the market seems to be tearing down single family and building 4-8 departments on the lot.
I would have to guess that bank financing in SA is nothing like here. I am sure 20 percent with a point over prime would be like a huge dream in SA. With partners or deep pockets I think there is money to be made. If your partners were gringos you might have a plan. I cant say I would partner with anyone local. I am sure everyone knows that the "Patels" own almost every limited service hotel in the USA. There huys are all Indian - changed there names to Patel and they partner up like crazy to buy more properties.

Oh also ---
In Peru they have the Mi Vivienda program that is designed to spur development. It has restrictions but it is primarily for new development.

I am in the middle of a development deal here that is in the low seven figures, but it is more of a one time shot than an ongoing deal.

Go in with your eyes open but anyway it has to be fun to at leat have some business plan going.

TE AMO PERU!!!!

jim

[Looking4Wife]

... in response to Update, posted by Pete E on Nov 18, 2005

Pete, glad to hear you are doing better and excited about Colombian real estate.  As you may recall, I am in the RE investment biz in the USA.  I am slowly learning about the market in BAQ, where my novia lives, so I will be interested to see how things work out for you in Cali.  Thanks for the update.

[Pete E]

... in response to Re: Update, posted by Looking4Wife on Nov 18, 2005

Read below.You are onn my  listrv tooom now.

Pete

[Pete E]

... in response to Re: Update, posted by Looking4Wife on Nov 18, 2005

Read below.You are onn my  listrv tooom now.

Pete

[doombug]

... in response to Update, posted by Pete E on Nov 18, 2005

"I am looking for partners"

When, and how much to get in.

I'm definitely interested in at least getting a unit for retirement purposes (down the road).

[Pete E]

... in response to Re: Update, posted by doombug on Nov 18, 2005

THere is much to do to make sure this is viable.Maybe in 2 0r 3 months I will have the numbers.We need to be very carefulll.
The steps are:
1,Finish preliminary Plans
2.Do market survey on what the property would sell for Complete.
3.If its a go final Plans,cost estimate.
4.Check all laws about getting you profit out of the country.You can take the investment.
5.Looks like it will cost about 300,000,000 pesos for 4000 Sq Ft.Lot $30,000 plus or minus for the lot,$150,000 total?MAYBE sell for twice??This would be a 3 million dollar house in San Jose.I will do a mailer to alll vacant owners.Looks like the first one sold.
WE are looking ast potential huge profits,but In willl explain after the facts to interestted parties.But,as an EXAMPLE,the most expensive guy in town says build for 800,000 a sq Mt,sell for 1,300,000 to 1,500,000.I THINK I can build for 70% that figure.BUT we we see.,Several people could gomin.ASLSO,if you want income,carrying  back loans at 20% just helps selll the propertt.Maybe a 50% first,20% secongt,investor profit,30% down.
Or Use the profit to buy income propertyb in Caretqagena for instance,then you can get paid thge rent in the US.
VERY PRELIMINARY.I WOULD HAVE BEEN farter anolg except for the surgury.Caution and facts are neeeded.BUT,I HAVE NEVER SEEN ANYTHING LOOK SO PROMISING INITIALLY.
I will put you on the keep posted list.

Pete

[Pete E]

... in response to Re: Re: Update, posted by Pete E on Nov 18, 2005

$ 80,000 to $120,000 for the3 cHouswe,$20-$30 a ft.Barhs and Kitchens will be the biggee.The shell is dirt cheap.
I am looking at 4000sq ft,6 br 6.5 ba,Huge living room,Kitchen,Rec Room,office,Laundry.2 Car Garage,Much exterior,Fences ,patios.I have a Dirt cherap guy lving on My retal property who will do that,Caretaker.

Pete

[Pete E]

... in response to Update, posted by Pete E on Nov 18, 2005

Casa Pete Will be up for grabs.2500 sq ft4 br 5ba best area of Cali.1,600,000 plus 500,000 administration.FURNISHED!They usually want 2 Colombian co signors.If you pay a YEAR up front like I did,19,200,000 I think they will  overlook the co signors and not raise the rent.

Pete

[Hoda]

... in response to Re: Update, posted by Pete E on Nov 18, 2005

Brother Pete...

No one, and I mean "NO ONE" here has rode the roller-coaster, bucking bronco of finding & being found by love AND living life outside North America....than yourself! You've endured bullshit in your search for love, that would have made most men say "phuck it"....but you didn't let it stop you. When you decided to pick up your life & take it to Colombia!....I knew, that we had someone very, very special sharing ALL of his life with friends & complete strangers...

All of us here at PL.....SALUTE YOU!!!!

[MarkNJ]

... in response to Handling your business & living ever..., posted by Hoda on Nov 18, 2005

Truer words were never spoken.   Thanks Pete for sharing all that you have with us.   Hoda is correct when he says that it has been a roller-coaster ride!  You have been willing to share all of it with us...  Bringing attention to the more human side of this journey that most of us here are on.   One of the most difficult elements with all relationships is that they need to take time to develop, to experience the many ups and downs in life...  it seems that as time has gone by and the various events have unfolded it uncovered for you who that special woman in your life is... I hope all goes well for you and Beatiz!
Keep on your road to recovery and remember to keep in the game you seem to be winning in more ways than one.

[Pete E]

... in response to Re: Handling your business & living ..., posted by MarkNJ on Nov 18, 2005

I am as happy as I have ever been.Glad to0 BE ALIVE.Only pain,hickups,burps,shortness of breath.A doctor today put a tube from my nose to my throat,then I find out he wants to leave it there 2 DAYS.I made it very CLEAR,NO F-CKING WAY! He got it.1000 times worse than the problem.If I sit up for 3 hours after eating I asm fine.

Pete