condos in cali

[luvslife]

Does anyone know how much a condo in Cali would sell for?  Also  Do you think it would be easy to rent during the months when I am not there?

[cancunhound]

... in response to condos in cali, posted by luvslife on Mar 31, 2003

I purchased a "nice" condo in Cali last year.  With the great exchange rate, it equated to roughly $20,000 US.  3 bed, 3 bath, maid quarters, gated guarded entry, parking space, pool.  The hardest part was deciding the "where" - as the security of the neighborhoods vary dramatically throughout Cali.  This took some work finding it as I priced similar properties that were as high as $80K.  I ended up choosing a location in southern Cali near Unicentro, easy access to everywhere and to close to Rio Pance.  There is monthly property owners dues, as well as taxes.  Note that the parking spaces in Colombia are typically deeded so you have to pay a tax on that as well.  I sank another $5K into remodeling the kitchen and renovating the floors - it is now like new.  Note there is no need for insurance - typical construction is 100% concrete - nothing to burn!  I worked out a deal where my wife's friends stays there full-time, even when we visit.  They pick up the homeowners dues and any routine maintenance.  This scenario has worked very well for me.  There are real estate websites and bank websites that list properties.  Most of the bank properties are less than desireable.  I found the best way to search for property was just to grab the paper and hit the road.  You really have to have a native calena to assist in finding a good property - and you do not want to appear involved in the transaction - price goes up dramatically if they are selling to a gringo.  I'm headed back this week - can't wait to kick back on the balcony, pop a top, enjoy the mountain vistas, just soaking up the atmosphere.

[Throw]

... in response to Re: condos in cali, posted by cancunhound on Mar 31, 2003

I am going down in the summer to buy a condo with my wife in Cali.  I have a few questions for you off the board.  Could you give me your email address... or write me at jamesr24@bellsouth.net

[bogota vet]

... in response to Re: condos in cali, posted by cancunhound on Mar 31, 2003

[This message has been edited by bogota vet]

There are many Colombians that can afford 20$-40,000$ condos, yet are flocking to leave Colombia in a steady stream, with no end in sight.

Must be a disconnect somewhere.

[cancunhound]

... in response to Re: Re: condos in cali, posted by bogota vet on Mar 31, 2003

Yup, and it looks like the economy is only getting worse.  Seems like most Colombians, if given the opportunity, would choose to leave.  My tenant, a lady in her early 50's, would never consider leaving simply because she loves Cali - but I believe she is in the minority.  A friend of ours, a calena who now lives in Texas - would never consider returning - even just to visit (family impacted by crime).  My wife loves to return for visits, but does not want to live there permanently.  Then I know of 2 calenas, because their mom is Japanese by birth, got their Japanese passports and headed to Japan for work - given how expensive it is in Japan - that illustrates just how dire the economy is in Colombia.  The only positive is, for me anyway - my dollar really goes a long way - and I've already had an offer for my condo that is almost double what I paid for it - so all in all not a bad investment.

[bogota vet]

... in response to Re: Re: Re: condos in cali, posted by cancunhound on Mar 31, 2003

I guess what I meant that the economy is not that bad for many. I've met many Colombians who could easily buy a 40,000, yet choose to leave.

I guess given that economics is not a problem, the lack of freedom and crime, or something else, they still want to leave.

[Calipro]

... in response to Re: condos in cali, posted by cancunhound on Mar 31, 2003


 Can you buy real property on a tourist visa? Or do you need a residence or buisness visa?

[cancunhound]

... in response to Re: Re: condos in cali, posted by Calipro on Mar 31, 2003

What you really need is a "Cédula de Extranjería", instructions to get it can be found here:
http://www.das.gov.co/tramites/articulos/115/
This is the Colombian national ID card.  With this you can accomplish pretty much anything - bank account, cars, etc..

The easiest solutions is, if you're married to a Colombian, to purchase the property in your wife's name - you can always use a lawyer to legally put it both or just your name alone.

[cancunhound]

... in response to Re: condos in cali, posted by cancunhound on Mar 31, 2003

-and another thing important to note:  it's a pain in the ass getting your money into Colombia.  Wire transactions are limited to $5K each, you get hit with a transacation fee for each one.  It's not just like you can write a check.  If I were to do it over again, I would open several bank accounts in the US and just pull all the money with ATM's in Colombia, depositing that cash in a Colombian account to process the transaction.

[bogota vet]

... in response to Re: Re: condos in cali, posted by cancunhound on Mar 31, 2003

Is cancunhound , the old poster named Wayne?  (who married a calena)

[cancunhound]

... in response to Re: Re: Re: condos in cali, posted by bogota vet on Mar 31, 2003

Nope - Bob here.  New to the board but a seasoned Cali vet (visit several times a year).  I've been there done that as my calena is now a US citizen, so feel free to shoot if you have any Cali questions.

[burbuja2]

... in response to condos in cali, posted by luvslife on Mar 31, 2003

My wife has a 2 bedroom 2 bath condo in a strata 5 neighborhood with an additional room and bath for a maid.  Building has underground garage, pool and security.  Present fair market value is $40,000.  She is currently receiving $250 per month in rent.

[Michael B]

... in response to condos in cali, posted by luvslife on Mar 31, 2003

1) Check the real estate section of El Pais for prices.
2) I don't think it will be that easy to rent. Visiting Gringos (if they don't use a hotel or stay at an agency and IF they are even aware that you offer it) will only want it for a week or so at a time, and you'll have to pay somebody on site to manage it, clean it, meet the visitor to issue the key, inspect it for dammages when they check out, etc. Locals, on the other hand, will want to live in it long term and won't be willing to move out just so that you can use it for your vacation.

[Cali vet]

... in response to condos in cali, posted by luvslife on Mar 31, 2003

You might ask Jose and Piedad Mejia since they own four or five  apartments and some condos in Cali that they rent to visiting Americans. Jose speaks English: pisarom@telesat.com.co or in Cali T:6593124