Apartnent in Cali

[thundernco]

... in response to Apartnent in Cali, posted by Pete E on Dec 15, 2003

Pete,

Don't let them fool you, most people in Cali will jump at 6 mos. prepaid period, no co-signors.  Isn't that place too big for just yourself and an occasional visitor?
Good Luck, TNC

[Pete E]

... in response to Re: Apartnent in Cali, posted by thundernco on Dec 15, 2003

Yes its definetly too big for one guy,but too big is kind of like too rich.I think Margareth wants me to be the overflow boarding house for LI,which could be fun but could get old also.I guess I had a vision where maybe a couple of guys might be staying with me at a time,more like one or none most of the time probably.And I don't know if the big place would want so many gringos and girlfriends coming and going.At petes place you definetly get a girl in your room because I want one in mine.Party time in their maybe 20 unit big condo might be too much for them.But man the patio,like a medeteranian villa,white,tile,80 ft long,varied from about 8 to 15 ft wide,next level down the pool.The 200 and 160 meter places I looked at after that seemed small.
Actually the one that fits best,if its even still available,was 200 meters,2200 sq ft.3 big bedrooms and 2 baths plus a one bedroom 1 bath little maids quarters.I guess that could be the overflow 4 th bedroom.17 th floor in a high rise in Santa Teresita,just west  and around the hill from Junambu.The views were incredible,40 ft patio on the hill side,3 beroom windows looking back at the city side.No drapes.Nobody can look in but I probably would want them in the bedrooms to sleep.Big pool on the ground level,I mean huge like a 5 star hotel.Big grand entrance,gringos in numbers would not stand out.
1,500,000 pesos a month,about $540 at 2780,which I got today at an ATM.Probably a better choice.But everything seems small after the big place.But it would sem strange in the  big place when I was by myself.
One issue,it doesn't have AC.It seemed fine when I was there,the unit is the whole width of the building,windows on both sides for a breeze,but I am a little concerned that it could get too hot on those 90  someting days.I actually prefer open windows to air as long as it doesn't get too hot.
Places like this one there are 100's of in Cali,the big one was a little unique.I'll probably screw around and miss both of them,but probably I should take my time to get someone to go for my idea of a lease with an option to buy and to sublet.That could make me a $100,000 in five years if I was lucky.Of course getting lucky would be to have an option to buy a place for $100,000 that is now worth $200,000,which might get you very unlucky,as in dead,in Cali.We went by a building today.Margareth said they had an office in it you go if you want someone killed.Now thats a little chilling.Maybe I should forget the lease option.
OK,I can't resist,a story.A lady I worked with at the City of San Jose had a granfather who had lease optioned 100 acres of land to these guys who built a golf course on it in 1952.They had an option to buy the land at $10,000 an acre plus $100 an acre per year more.It looked good to grandad at the time and he went for it.By 1985 they could buy the property for $13,300 an acre.It was now worth $1,000,000 an acre.Value of the option $986,700 an acre,$98,670,000 total.The family was trying to get out of it but it was iron clad.Grampaw says its not worth that much money.If someone will pay it its worth it.I told her if granpaw started to sign anything else to break his hand.
One of my fantasies is to own several places around the world in places I would want to go,vist them part of the time and rent them as vacation property,ala hotel prices the rest of the time.Plus you get to write off your trips because you were checking out your property.Yes,I'm a dreamer,but sometimes I actually get it done.Then usually I sell the property and spend the money.If I was a frugal person,which I definetly am not,I could have kept half the property I have owned and have several million dollars
worth of equity.
The trick is to turn hindsight in to forsite,so maybe I should take my time here.

Pete

[DavidMN]

... in response to Re: Re: Apartnent in Cali, posted by Pete E on Dec 15, 2003

You're in a different situation than most when you do your back of the envelope calculations in that all your expenditures for some time to come might be in pesos.

I don't think the math is as attractive if someone is earning in dollars, spending 98% in dollars and they buy a Cali condo that appreciates 50 or 100%. They've now got a big peso gain put what's the peso vis a vis the dollar five years hence?

Yes, I know the dollar hasn't looked good over the last year and might have some tough sledding ahead, but unless Col finds serious oil and takes care of their massive debt, the dollar ain't going to depreciate nearly as much as the peso.

I know this isn't an investment board, just making an observation.

Good luck,
David

[Kiltboy1]

... in response to Re: Re: Apartnent in Cali, posted by Pete E on Dec 15, 2003

Pete

Why do you not just partner up with Margui and do some advertising here in the states . Since Ricardo lost his Palace at  ALLCOLOMBIANGIRLS, there is only one nice place left "LATIN-INTERNET , and they are way in the south and not conveanant to all the activites in the North.

Margui is always looking for a partner.I met my wife at LE and we are seperated now and she is back in cali, but i will be going back soon to start my search again and would love to have a place like that to get to know some special women. You can count me in !!

Andy

[Pete E]

... in response to Re: Re: Re: Apartnent in Cali, posted by Kiltboy1 on Dec 16, 2003

I really shouldn't speculate about possible deals with Margareth here.But she is a very creative thinker,like I like to think I am.
Originally I was thinking a big place anyway,to have room for guys coming through.If you find me here then its our deal,outside if that I better shut up.
Is your post a vote for the big place?Actually I erred,its 6 bedrooms,6 baths,one being the tiny maids quarters.But 5 bedroom,each with its own bath,3 with french doors to the huge front patio.We will see.What I have in mind,as in lots of gringo around,might not work in that place.
I should probably just start making my lease option bids on more ordinary places.Hell I guess it wouldn't hurt to hit them with it anyway.

Pete

[Kiltboy1]

... in response to Re: Re: Re: Re: Apartnent in Cali, posted by Pete E on Dec 16, 2003

It is whatever you feel comfortable with, but running a side business will help you get on with your life after all that you have been through. You will also meet some great women and nice guys as well. Like i said, if you get the place,count me in when i am there .

Andy

[QuitoMan]

... in response to Re: Re: Apartnent in Cali, posted by Pete E on Dec 15, 2003

Pete, I'm glad your finding your feet in Cali. But how are you actually feeling there - does it FEEL like your doing the right thing?

 As for property my track-record is hopeless. But it seems to me that Cali for an investment is maybe not the best deal because of all the uncertainties around Colombia.

 International Living are raving about Beunos Aires/Argentina and Nicaragua at the moment. To a lesser extent Panama and the Costa Maya in Mexico. Ecuador was hot 5 years ago. B.A in particular would be a fantastic place to live apart from the women - so much culture + a latin ambience. Chile appeals to me as well but I don't think its such a hot investment spot as their economy didn't take a beating like Argentinas'.

 I guess if Colombia does eventually sort itself out then Cartagena will be a hotter spot than it is now.

good luck and keep posting

Steve

[Pete E]

... in response to Re: Re: Re: Apartnent in Cali, posted by QuitoMan on Dec 15, 2003

I'm feeling fine.I hardly think of my now ex wife,except Margareth knows her and likes her so she asked alot of questions.I am supposed to have a date tonight with the hottest looking girl on her site in my opinion.No I'm not chasing the young ones,she's 36.
The leae option I am talikng about is kind of a free way to tie up property if you were going to rent it anyway.You have an option to buy,you don't have too unless the option becomes attractive.The problem s trying to do that would make a difficult search more difficult.My helpers might bail on me if I keep trying to get deals that are hard to get.The landlords are tough here,want 2 Colombian co signers with property.But some people tell me just wave the 6-12 months rent up front and they will come around.
Yes,Argentina was very hot for investment a few months ago and probably still is but prices have come back quite a bit.
I'd like to find a chica who wants to travel and I would go take a look.Actually I'm working with a european investment bank and I think I can make considerable money there while getting my education on Latin American real estate.Might be good to watch for the next Argentina type economic reality adjustment.I could be Brazil.

Pete

[Bueller]

... in response to Re: Re: Re: Re: Apartnent in Cali, posted by Pete E on Dec 16, 2003

"But some people tell me just wave the 6-12 months rent up front and they will come around."

 I did this in Spain and it worked. No one there wants to rent to foreigners because the laws make it so hard to evict them after the people who signed the lease invite eight other Moroccans/Colombians to live in the 3bdr apartment with them, with the attendant wear and tear. Heck, they even put it in the newspaper ad: "No foreigners". But show them you're a single Gringo with 6-12 months of cash up front and it's another story.

[DavidMN]

... in response to Re: Apartnent in Cali, posted by thundernco on Dec 15, 2003

[This message has been edited by DavidMN]

Re the 7 bedrooms and 7 baths. Isn't there some joke on the subject along the lines of:

Q. Mr. Trump (insert your favorite mogul here), why do you have a home with 7 bathrooms?

A. So I can take a dump in a different toilet every day.