• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result

Buying Real Estate Overseas

Lee Harrison by Lee Harrison
Sep 13, 2012
in Real Estate
0
Buying a property overseas
208
SHARES
3k
VIEWS
Share on FacebookShare on Twitter

The Spousal Factor

Latin America Correspondent Lee Harrison delighted the crowd in Medellin at this week’s Live and Invest in Colombia Conference with a recounting of his experiences shopping for and investing in an apartment in this beautiful city (with a little help from his dear wife Julie). Here are the highlights…

When Medellin, Colombia, came on to my radar, it got my attention, initially, because I perceived it as a market full of opportunity available at a very, very good price. My early figuring showed that I could invest in a rental apartment in Medellin with the expectation of double-digit annual yields. Seemed too good to pass up, so I planned a scouting trip. My real estate contact in the city assured me I could buy a great apartment in a great location, furnish it, and ready it for rental for a better than reasonable cost.

My mistake was introducing my wife to Medellin. Unfortunately, she liked it as much as I did. And she decided she wanted to come apartment shopping with me. My “reasonable cost” investment became something else entirely once my lovely wife got involved. Before I knew what was happening, we were buying leather couches, artwork, and designer faucets for all the bathrooms. I’d started out projecting an excellent net return on investment. Suddenly I realized I’d need 140% occupancy just to break even.

I revised my objective. The apartment Julie and I bought became not an investment at all but a great place to live.

That was the first lesson I learned: Don’t mix an investment property with the search for a second home. One of them has to take priority.

The second lesson I learned shopping in this market was thanks to the property/rental manager I consulted. Andrew Campione helped me to understand the importance of buying quality in a premium area. This can mean an important advantage for renting and for resale, and it can provide a cushion during market downturns.

In the end, I (with a little help from Julie) picked the place that felt most like home. It meets all the original objectives, plus it is a great place to be.

Now I’m shopping again. This time for an investment property, and this time I’m shopping on my own (please don’t tell my wife).

Lee Harrison

Continue Reading: Best Hotels In Medellin, Colombia

Comments

Tags: 'Lee Harrison'medellin colombiaspousal factor
Share83Tweet52
Previous Post

Banking In Uruguay

Next Post

Where To Invest Overseas

Lee Harrison

Lee Harrison

Lee has been living overseas for nearly two decades, making his first purchase abroad in the colonial city of Cuenca, Ecuador. After that first investment, he traveled extensively across Latin America and Europe looking for the best property deals possible. Lee’s network of property insiders from those travels, along with his understanding of local cultures and languages, has helped him develop insight into local property markets that only the locals usually possess.

Related Posts

Scenic sunset in Lisbon, Portugal.
Real Estate

How To Invest In Property 101: The Pitfalls You Should Avoid

by Lynn Mulvihill
January 18, 2021
0

Among the new trends we faced last summer in Ireland, a country home being snapped up by a foreign buyer...

Read more
Tropical waterside house with moored boat on lagoon side of Placencia in Belize.

Buying Real Estate In Belize: What You Need To Know

January 12, 2021
Red For Rent Real Estate Sign in Front of Beautiful House.

How To Make Sure You Profit From Your Overseas Rental Property

December 20, 2020
Panama City, Panama

How To Find A Rental In Panama City

December 18, 2020
House on top of a map. Invest in real estate concept.

Invest Now, Earn Later: Best Places To Invest In Real Estate

December 8, 2020
City skyline at Panama City, Panama.

Why Investing In Panama City Today Is A Different Ball Game

November 30, 2020
Real estate concept with icons of location, contract and price diagram

11 Questions You Need To Ask Before An Overseas Property Purchase

November 15, 2020
Next Post
best countries to live

Where To Invest Overseas

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today.

Start Your New Life Today, Overseas

how to retire overseas

LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2021

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

WANT TO RETIRE OVERSEAS?

Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll immediately send you a free report on the 10 BEST PLACES TO RETIRE in style overseas. Each day you’ll learn about the best opportunities for international living, retiring overseas, offshore diversification and asset protection, and investing in real estate around the world.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.