Tag: residential

Everyone Can Buy And Own Property In Colombia

Buy Colombia Property. Photo of Medellin. Photo credit: Unsplash.
Thank you to Daniel Vargas.

Updated April 13, 2024. Everyone can buy and own property in Colombia, South America. If you are looking to invest in property in Latin America, especially if you are from another country, Colombia, South America, should be high on your list of destination choices. The Colombian people are friendly and they welcome foreigner people to Colombia. The climate is also very welcoming, with a variety of landscapes that will meet the needs of many buyers. As well, Colombia has one of the strongest performing economies. In addition, the price points for the real estate properties are particularly affordable in this Latin American region.

Consider Buying A Property Overseas

There are benefits that you might want to consider for buying real estate overseas. Andrew Henderson, from the YouTube blog Nomad Capitalist, emphasizes that people from the United States, Canada or Australia might want to sell their property in these countries and invest in overseas properties. Check out Andrew’s YouTube video called the Benefits of International Real Estate Ownership.

Andrew points out that the problem with investing in the U.S., Canada and Australia are that the property returns are low and the taxes are high. For example, in Australia the returns on rental properties are like 1 to 2% only! If you consider buying a property in another country many times the returns are much higher and you can have a friend run the property management for your off shore properties. But, not in Colombia, South America. The attractive reality is that everyone can buy and own property in Colombia!

Colombia Has Very Nice Rental Returns

Let’s take a look at the Colombian property rental revenues. If you buy a residential apartment to rent in Colombia, I would say you are looking at a minimum of a 12% average return. Then add in the increasing value of the real estate of 10% on average for the last three years. Not too bad, right! I first came to Colombia in 2005. I have watched every year as the economy and housing prices haven’t gone down, they just continue to increase. For this reason, the housing market in Colombia, South America is one of the best kept secrets in the world!

Looking For Global Asset Protection?

Another reason that people look at global real estate is the idea of asset protection. This is kind of like a form of government insurance. You can protect yourself not only on an asset basis, but you can protect yourself from some of the madness that’s going on around the world today because everyone can buy and own property in Colombia. To me, that is a win.

In addition, if you are a U.S. citizen or some other countries citizen that has foreign tax rules, this is one of the few ways that you can legally have a non reportable asset. For example, if you are a U.S. citizen and want to buy a house or some land overseas in another country you can do it. You can wire the money overseas and pay in cash.

There is not an IRS form on which you need to report. There is an FBAR, or an FATCA to report a lot of assets. But not for foreign real estate or in the precious metal of gold. This is fantastic, because in the U.S. you have to pay taxes on the income from any property. But if you want to park money in foreign real estate and enjoy the appreciation you can do it with relative safety and it is non-reportable.

Be Well Diversified In Your Investments

The last reason why you might want to consider buying foreign real estate is because doing so is part of being well diversified in your investments. Perhaps you have always dreamed of having a second home or vacation home in another country that you could go to spend part of your time. In Colombia, it is possible that you could get a residence permit by owning property here.

It is also possible that if you spend some time here in Colombia it can lead to a residency permit. Depending on the size of your Colombian investment, you can apply for a one-year or five-year visa. There is also the possibility that you can become a citizen as well. This citizenship gives you other opportunities as well. To give you an example, your Colombian real estate is also a safe and secluded place to go if you are worried about chaos in the world.

The Legal Process Of Buying Property In Colombia

If you are a foreigner, you can in fact buy property in Colombia. The Colombian government recognizes the importance of foreign investment. The good news is that the procedure is the exact same process for foreign individuals as it is for locals! The only requirements are you need to have a valid passport and sufficient funds for the purchase of the real estate.

No National Licensing Systems

The real estate market operates very differently than your home country if you are from North America or many Eurpean countries. Here in Colombia, there is no national licensing system in place. This is a turn around if you are from a country like the United States or Canada where the agents are always trying to ask for and demand the exclusive rights on your property.

As a result, not having a national licensing system in Colombia has led to a proliferation of real estate agencies called inmobilarias. Many investors will be surprised to find out that it is very uncommon for sellers to have exclusive agreements with what are called inmobiliarias. This is good news if you are used to paying much higher fees for buying or selling properties. If you have been paying high fees to brokers, you are going to really like the commission rates in Colombia.

Nice Commission Rates

The standard commission for real estate agents in Colombia is just 3%. The great news: quite often the 3% fee is split 1.5% and 1.5% between the buyers and sellers agents. In short, here in Colombia, the low commissions are very nice for buyers and sellers!

Highly Negotiable Property Prices

Overall, is important to point out that here in Colombia, in Bogota and Medellin for instance, it is not uncommon for a property to be for sale for many months before a buyer is found. So, the huge advantage is: most property prices are highly negotiable.

Hide The Fact That You Are A Foreigner

Have a real estate professional do the research on the properties that interest you, how long they have been on the market, and how motivated the sellers might be. I recommend always using a local agent to negotiate the price. Hide the fact that you are a foreigner because this may cause some type of discrimination. Here is the secret: only reveal that you are actually a foreigner after the Promesa de Compraventa has been signed.

Three Necessary Tips

Everyone can buy and own property in Colombia. Here are three more tips that you need to do.

Firstly, is to open a Colombian bank account. Again I highly recommend working with real estate team because this step can be a daunting one. So get the right help from the beginning. Your real estate team will be able to help you determine certain details such as whether to buy in your name or in your company’s name.

Secondly, make sure to leave a paper trail. Buying real estate is easy to mess up, but a smooth operation when done by professionals.

Finally, hire an attorney. Having a good attorney will help with the stresses of an international real estate venture.

Legal Process To Buy Colombian Real Estate

I have found an excellent article called How To Buy Property In Colombia: The Legal Process, written by the legal team Colombia at bizlatinhub.com. Below the the steps needed so that everyone can buy and own property in Colombia.

First, find the property that you are interested in investing in. Then acquire a Certificate of Tradition and Liberty or ‘Certificado de Tradición y Libertad’. The Certificate of Tradition and Liberty contains all the information about the property and the properties history.

The properties history includes ownership records, mortgage history, legal claims on the property as well as any works carried out on the property. This property work includes when significant work to the property has taken place.

You can request the Certificate of Tradition and Liberty at the Registry Office. Requesting the Certificate of Tradition and Liberty will cost $15,700 pesos. Or if you convert Colombian pesos to dollars,about $4.60 USD. Nice price right? Welcome to the prices of Colombia!

Taxes and Fees Of Buying Property In Colombia

You want to ensure that the previous owner has paid all of the outstanding taxes on the property. You need to obtain these two certificates directly from the owner:

  1. Tax free property certificate (Paz y Salvo Predial). This certificate guarantees that all the municipal taxes on the property have been paid.
  2. Tax free on value gained property certificate (Paz y Salvo Valorización). This certificate guarantees that all taxes have been paid on the increase in value of the property.

Buyers Fees

At the time of purchasing the property, the buyer must pay different taxes and fees which total 1.65% of the value of the property. The 1.65% value of the property consists of:

  • 1% tax on the property’s value for the registration of the property.
  • 0.5 % fee of the property’s value for the registration of the property.
  • 0.15% fee of the property’s value for the notary.

Sellers Fees

The seller of the property must pay between 3.63% and 4.79% of the total value of the property in taxes and fees:

  • 0.15% fee of the property’s value for the notary.
  • 3-4 % (including 19%VAT – value added tax) fee of the property’s value for the real estate agents.

Final Step For Buying Property In Colombia

The final step to buying property in Colombia is the signing of the Public Deed or ‘Escritura pública’ and this will confirm you as the new legal owner of the property. The Public Deed is a written legal instrument and you must hire a notary to produce it. The following taxes and fees apply:

Public Deed Fees

  • 0.25% fee of the property’s value for the notary.
  • 1% of the value of the transaction as an advance payment to be applied to the Income Tax.

Once the Public Deed is paid for and signed, it gets registered at the Registry Office and then consequently at the Cadastre or ‘Subdirección de Catastro’ where you will be officially registered as the new owner of the property.

Buy And Own Property In Colombia

There you have it. In conclusion, everyone can buy and own property in Colombia! To prepare, I would definitely recommend doing more due diligence on specific property regions and areas that you may be interested in. I would also recommend looking at property in Bogota or property in Medellin. Both of these locations have the potential for excellent returns. If you have a question or need more help, please send me a message.

Did you know that there is actually an equation for wealth? I invite you to check out my blog on how to Build Unlimited Wealth With Money’s Untold Truth and achieve your dreams and living an amazing lifetyle.

Until my next blog, best wishes!

Deuteronomy 8:18.  But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day.

Matthew 7:8 NLT. For everyone who asks, receives. Everyone who seeks, finds. And everyone who knocks, the door will be opened.

Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.


Boost Your Rental Property Cash Flows

ATM. Photo credit: Unsplash and johny vino.

Boost Rental Property Cash Flows

Updated April 13, 2024. Ever wondered if there was a way to get more money from your rental houses? In my opinion I believe these are the best three ways to boost your rental property cash flows into a real cash flowing machine.

There are three ways to dramatically increase the rental income for a property. Do you have rental houses that are close to colleges or universities? Do you have a vacation rental property that is close to the beach? The three kinds of rental properties that you could be making more money are student housing, vacation rentals, and my favorite: rent to own.

Let’s take a look at the 3 ways to boost your rental property cash flows into a real estate cash flowing machine.

Difficulty Finding Good Rental Tenants?

If you have or are thinking about buying other houses as rental units you can significantly increase the rent from these houses. Let me show you how. Let’s suppose that you decide to rent out a property. One of the problems is the occupant. What if the tenant decides not to pay the rent? You are getting no money on that unit. This is a huge problem because on most properties you still have taxes, insurance, maintenance, management fees, etc. On top of that many times you have a big mortgage to pay every month.

So if the tenant decides to move out you have a real financial issue on your hands. If you think about it, if the family moves out of the rental unit for one month so that it is vacant, a lot of time that will remove all the cash flow for the entire year for that property. So basically you have to have a 0% vacancy on the rental houses to make them work. But 0% vacancy is not realistic. In the real world, the reality is that some renters don’t always pay you.

Problems With Rental Cap Rates And NOI

The other problem is a lot of the time the rental houses will have a low cap rate. Say you rent out a property to a tenant for $1,200 a month. But then say you have to deduct the $100 for the taxes, $75 insurance, $100 property management fees, and $125 for maintenance. These costs total $400. So $1200 rent – $400 = $800 NOI (net operating income). In this example, after paying all the expenses you will have $800. Then multiply the $800 x 12 = $9,600 is what you receive each year for renting out this house. BUT this is assuming that you do not have a mortgage.

Determining Property Cap Rates For Rentals

To determine the cap rate you need to take the NOI of $9,600 and divide by the purchase price of the house. The typical family single home prices vary widely in the world. But let’s say that the cost for purchasing this house is $150,000. So $9,600 divided by $150,000 = 6.4 cap rate. A cap rate of 6.4 is bad. Most real estate investors look for a cap rate of 10 or above.

Blueprint To Boost Cap Rate On The Same Property

So here is the millionaire dollar question. How do we increase the cap rate above 10 on the same property? The cap rate is so bad in the example above we just looked at because the cost to purchase the house is so much more than the rental rate. Therefore in order to make this house a cash flowing machine we are going to have to get very creative.

Now let’s take this very same house and not change anything at all. We want to have a house that a person could move in and live in that home as their primary residence. Basically we still have the highest and best use of the house: a single family residence has the highest and best use.

There are three ways to boost your rental property cash flows. These three techniques will greatly improve your cash flow each time you find another house to buy. Let’s take a look at the 3 ways to boost your rental property cash flows into a real estate cash flowing machine.

3 Ways To Boost Your Rental Cash Flows

Idea #1 Student Housing

Are there universities, colleges or specialty schools in the area of the rental house? If the answer is yes, then get some more furniture and you can rent out the house by the room. The furniture for student housing can be bought very inexpensively at a second hand store and that will be fine for student housing.

Say the rental house has four bedrooms. You rent the house for $550 per room. 4 bedrooms x $550 = $2,200. Not bad right? $1,200 to a family or $2,200 for student housing and you market the student housing directly to the college or university.

Now usually you have to time it right because there are certain times of year that students will be looking for their housing. Once the students find their housing they are locked in for a year. You just have the parents co-sign, that way you are going to get paid no matter what. Once the students are there at the rental house, they will tell other students and the student rental house will be all set for years. This is an awesome way to turn a rental house into a cash flowing machine!

Idea #2 Vacation Rentals

Vacation rentals are the perfect way to rent your house if you are by the beach or by a beautiful place in the mountains. For most vacation rentals you are renting by the night. Let’s again use our example of the rental house with four bedrooms. This four bedroom rental house could easily rent for $4,000 a month. Compare $4,00 a month vacation rental to $1,200 a month for a normal typical family! What a huge difference between $4,000 a month versus $1,200 a month!

Remember though that there are a couple of expenses. One is furniture. This furniture needs to be a little bit more expensive. You need to be thinking about people writing positive reviews of your vacation rental. A little bit nicer furniture will positively impress the photos when people are looking online to decide which house to rent for their vacation. You may have to spend $5,000 or more on furniture depending on your location.

The other expense is utilities. Depending on the location of your vacation rental property, the utility bills could be a larger expense. Factor in air conditioning, gas, water, electricity, as well as internet and cable.

Earlier I was talking about cap rates for this four bedroom rental house. I was saying that to rent this unit to a typical family produces a cap rate of 6.4. A 6.4 cap rate is lousy. But here are the cap rates for student housing and a vacation rental.

Student Housing & Vacation Rentals Cap Rates

Student housing with purchasing second hand furniture: Double the cap rate of 6.4. Here you are looking at 10 or 12+ cap rate. Now you have a much better rental solution!

Vacation rentals with nicer furniture and possibly larger utilities: The cap rate can go to 20+. As you can see, a 20+ cap rate is awesome! But the best part is this. People come, stay, and then leave. You don’t have to worry about evictions because the people are there on their vacation! You have so much money coming from your vacation rental that you can afford some of the hassles (like little things getting broken) that will happen when people stay.

Idea #3 Rent To Own

Rent to own is a beautiful way to build nice profits in residential real estate. The big secret is this: so few people are doing this technique! People don’t know about it. The other real estate investors are concerned and there are not that many professionals that the other investors can call and ask for help. Please check out the laws of your rental properties to make sure that their are no laws against rent to own properties.

This technique is huge because for the most part student housing or vacation rentals are not an option for many cities and locations. There is no school nearby and it is not a vacation destination. So what do you do in these cases to turn the house into a cash flowing machine?

Setting Up A Rent To Own In Order To Boost Cash Flows

You have to offer the house on a rent to own rental agreement. Here is how to set up the rent to own strategy:

Get an upfront, non-refundable option payment. When the people are first moving in, they are getting a lease with you (one document), and another document which is the option to purchase the property at a specified price when they first move in (second document). To get that option they are going to pay you upfront.

How much are they going to pay you? Could be anywhere from $5,000 to $10,000 or even more. Can you believe it?! Anybody could ask for $2,000. If you are good at marketing you can get even more. A lot of people have mattress money (more than you think). They have this money, especially around tax return time when they are getting a tax refund. Around the month of April in the US is a huge time of year for the rent to own strategy.

Move All Maintenance To Tenants & New Owners

Push all maintenance to the tenants. As a result, there is no more maintenance. They are becoming the owner of the property. If something bad happens, that is all them. For this reason, you can push all maintenance off to the new owners. Important: there are certain tenant and landlord laws that will supercede this. For example, even though the tenants signed an agreement saying that they will maintain the property, if the HVAC goes out, the owner might have to fix it.

So be wise and check and see what the laws in your area look like. But for the most part, this will save you $125 in maintenance that we were talking about previously in the four bedroom rental house example. This is awesome because now the tenants are handling the maintenance!

Higher rental amount. Usually the tenants want to pay less rent for the house. Normally. But here you can do rent credits. Check with your location to see if this is allowed. Rent credits allow you to raise the rental rate. Say rent is normally $1,200 a month. You bump that up to $1,400 a month. Then you give the tenants a credit of $300 a month. The tenants can use the $300 credits to reduce the price of the house when they are going to purchase.

Big Secret About Rent To Own Properties

Here is the big secret to rent to own properties. Ready? Over 90% of the people who do a rent to own will NEVER EVER exercise their option to purchase. They are NOT going to buy the property in almost all cases. So relax and do not worry. The probability is that no one will buy your rental home.

Now if you keep renting the rental house out, the probability will increase that someone will eventually buy your rental house. But if you keep doing the rent to own strategy, the rental house profits should make you very happy. If one out of ten buys your property, it’s ok. Just go and buy another property. It is a win-win situation.

What I love is this. With the rent to own houses I get the money up front. What if there is a problem and you have to evict the tenants? If that’s the case you already have money up front to do it. As well, what if you have to replace the interior of the house with new carpet and paint? Again you have the money to do these renovations as well. Whatever happens, with the upfront money you already have, you are covered!

I often get the question: why do people do the rent to own and then change their mind? The reason is because these people typically don’t have a better financial situation tomorrow than they do today. Typically these people are just not trying to better and improve their lives like you.

Advertise Your Rental Property

The rent to own is so exciting because so few people are doing it! If you put up a signs around town that say:

With this sign you will get hundreds of phone calls. You will have to get up a different phone to handle taking the messages you will receive. The phone will ring off the hook. This Rent To Own sign will work in urban or rural areas. It really doesn’t matter. Why? Because there is a huge population of people who want the OPPORTUNITY to rent to own their own home and almost no one offers it!

Examples Of How To Make The Phone Ring

So when you do it and the phone starts ringing you will find out that the majority of the people have some problems. Examples? No jobs, and no money to put down. Get a voicemail message machine. I say in the message on the answering machine that I am looking for people who have $5,000 dollars to put down and $3,000 dollars earnings a month. Please leave your information. You are going to have to filter the people because you will get hundreds of calls. Believe me, you will not have an issue with potential people to screen when looking for the right tenant.

Improve Your Cash Flow Today

There are three ways to boost your rental property cash flows. The best three rental properties are student housing, vacation rentals, and my favorite: rent to own. These three techniques will greatly improve your cash flow each time you find another house to buy. These strategies are the foundation of any creative real estate investor, and in my opinion, these strategies will build you wealth as a real estate entrepreneur.

What popular articles and blogs do you recommend?

If you are interested in finding out the secret to buying houses when you don’t have the necessary cash, please read my blog: Buy Houses Without Cash Or Credit to get you on the right path for creating wealth.

If you are interested in Becoming A High-Net Worth Individual, please read my blog and watch the YouTube video by a fancinating guy named Andrew Hendersen, founder of Nomad Capitalist. He believes that the world has changed forever and says it’s time for you to “go where you’re treated best.”

Best wishes! Until then, watch for my next blog….

Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.

Real Estate Investing Strategies That Work Every Time

Stack of $100 US dollar banknotes. Photo credit: depositphotos.com

Real Estate Myths

Updated April 13, 2024. There are a lot of myths in real estate investing. One of these myths is the most successful real estate professionals have perfect timing. However, if you think of this, it is absolutely not true. This would mean that these “professionals” buy when the economy is down and sell when the economy hits the absolute peak. Well this my happen sometimes, but the vast majority of the most successful real estate professionals apply specific strategies that always work. Here are three real estate investing strategies that work every time.

Three Strategies That Work

These three real estate strategies are: residential rentals; wholesaling; and fix and flip. These three strategies are among the most popular real estate strategies that produce consistent results regardless of the timing. Think about this for a moment, when you are doing your best financially it is usually in a good economy. Why? The prices of real estate are going up. For example, right now in January 2020 the prices of real estate are trending higher.

The Secret For Real Estate Guru’s Timing

The question is: how can you time it so that you can buy when the prices are low and sell when the prices are high? Well…

You can’t do it. It doesn’t make any sense unfortunately. You cannot take advantage of something like that. Clearly, you are not in that type of situation. If you think about it, it is really impossible to predict the future six months or a year from now.

The Future Is Not As Certain As The Past

Everyone knows the past. But how about this: right now are we in a real estate bubble? Some will say yes and others will say no. The point is no one has a crystal ball and can predict the future. No one really knows until we can look back six months or a year from now and can see what really happened.

What makes these strategies so important is that regardless if you have enough money in your pocket, and regardless if you can time the market, you can do these three strategies to increase your wealth.

Gain More Wisdom As Time Passes

As you get older you get smarter. You gain wisdom, knowledge and understanding. So with each year you are better and have more tools to be a real estate investor. Therefore, with each potential year you can apply the wisdom you have gained so you can apply it quickly to each house or apartment.

These three strategies will transform the way you look at real estate investing in the future. That way you can apply them at any moment in time. Then with more experience you will get better and better at them over time and become successful.

Here Are The Three Real Estate Strategies

Let’s get back to the three real estate strategies. This is my blueprint of the three real estate investing strategies that work every time and in any market. So our strategy is a combination of residential rentals, wholesaling and then balance that with rehabs to resell.

Residential Rental

The first one is rentals. But more specifically we am talking about residential real estate where people live in the property. People always need a place to live in good times and bad times. Typically when the economy goes down more people will rent. Residential rentals will always work if the numbers work. In fact, buying rentals will increase a person’s wealth more than any other strategy out there. If you do this correctly, are you ready to be a millionaire??!!

Need For More Capital

But the problem with rentals is that you need money. You need money for the down payment, money to fix up the house in some cases, money in the form of something like a line of credit so that if a tenant doesn’t pay you have to pay the mortgage temporarily while you evict and the related legal fees.

Wholesaling

This is where wholesaling comes into place. You put a property under contract directly from the seller. There are no agents listing the house on the MLS, these are off market deals. You go directly to the seller and made a deal.

Then you need to resell the property to a retail buyer or an investor. Basically you’re getting the property under contract at a wholesale or lower price and then you sell the property to another investor or at retail. Look to buy single family residences if possible. We recommend single family houses because they are the most plentiful. But depending on your market this could be apartments or condos. Here is the good news, in this real estate market right now, this strategy is working very well!

Right now, after 2018 and 2019, when a lot of people made money in the stock market, people are looking at real estate after the shakiness they saw in 2019 in the stock market. A lot of these people are in there 50’s or 60’s and are looking to invest their money wisely and some are looking to park their money in real estate.

When selling the wholesale properties, look for what are called sucker buyers. These are people that will offer you the most for the house that you have under contract. These people are willing to pay ever more for the house than you know it is worth.

If the dollar value from these buyer’s is the best price for the house, ask if they have all the documents to do a mortgage with a lender. Also, be sure to ask if they have approval for a mortgage. Obviously time is of the essence.

90% Of Investors Only Do 1 Deal

Have you heard that over 90% of real estate investors do one deal only? One deal! This means that only 10% are doing one deal after the other. The 90% may have lost money or not make much money. These 90% come in and buy one house. They go fix it up themselves. Then they realize it was a lot harder and a lot more work than they thought. Then guess what? They go and move on to something else in life.

So these 90% are always new people every time you wholesale a house. Can you believe it?! Remarkably this is very much the case. Therefore, take advantage of this never ending source of retail buyers!

Wholesaling Will Always Work

Wholesaling will always work because there will always be new people wanting to buy houses to fix them up. On top of this, houses are always deteriorating over time. For example: bad roofing, exteriors, the look of the houses is constantly changing, floor styles, paint colors, kitchens, bathrooms, etc.

Houses always need to be remodeled on a consistent basis. Always. If the houses are not constantly being maintained and improved, then the house becomes more difficult to sell and falls into the wholesaling category.

There are people that are looking to buy real estate thinking they are going to get rich quick. You absolutely cannot lose if you buy these wholesale houses at the right price. These three real estate investing strategies that work every time are a no-brainer, win-win-win situation!

Fix & Flip / Rehab And Resell

The third way to make money on houses is fix and flip or it is also called rehab and resell. This is where you buy the house, fix it back up and resell it. The reason why this always exists is again the fact that residential real estate is always deteriorating. Once you buy the house and get everything in your home, generally people are reluctant to fix everything.

For one thing, it is expensive, and it is a difficult task when you have all of your stuff in the house already. So the majority of people that buy homes normally don’t fix them up continuously to keep the market value increasing as the housing that are looking to be resold.

Look For Distressed Properties

There are always going to be deals in the real estate markets. One reason for these deals is that something happened that is completely separate from the market. These are what we call personal issues. A perfect example of this is a grandparent passes away and deeds the property to a son or daughter.

In case the son or daughter is extremely happy, but a lot of the time the son or daughter is broke financially and doesn’t have the money to handle this house. Often the son or daughter just wants money and they want it right now.

To top it off, the person who owned the house originally hasn’t done repairs in a long time. The house is old and outdated. This is a personal issue that is always going to exist. There will always be people passing away. This creates a consistency that will always need to be filled.

You may have the question of “What if I am in a market that is no longer hot. When people are no longer selling their houses for top dollar. Properties are sitting on the market longer. How do I buy a property and make sure I can do the rehab and resell and still make a profit?”

First of all, it is very important that you move quickly. You have to have all of your contractors lined up and ready to go. If you are not in a position of rehabbing the property in one to two months and get the property back on the market, you want to consider wholesaling.

Put Houses Back On The Market Quickly

So be careful about sitting on a property. One thing is fixing the property as fast as possible. The other factor is how fast you sell the property. You need to put the property on the market for as low of a price as possible. By doing this, you can generate instant offers. It has got to be fast. The rehab and resale of the property will always work consistently as long as you move fast.

If you need to get permits and other government documents you better consider your options. Sometimes the government is going to take months to approve things. That will slow down progress substantially. If you work on a property for six months, let me ask you a question. Do you know what is going to happen six months down the road? The answer is no. I have no idea what the economy is going to be like six months in the future.

Sometimes you can get fortunate when the market continues to go up. You can make a lot of mistakes in the last few years and still come out nicely when the market continues to go up and you have been able to fix your own problems. But now certain market in the upper price points things are not like that anymore. Builders have built enough inventory. An example is the coastal markets in the United States, especially in the west coast where prices have leveled off when you get up above the prices for affordable houses. You tend to see a lot more inventory in the luxury house markets, so be careful.

Do All Three Strategies To Create Wealth

There are a lot of myths in real estate investing. However, the vast majority of the most successful real estate professionals apply specific strategies that always work. We hope you liked my blueprint of the three real estate investing strategies that work every time.

What is nice about wholesaling is that you have a lot less risk. The problem with wholesaling is that you don’t make as much money. You will make a fraction of the price that someone is going to pay in the end to own the house. When you buy a property wholesale, then rehab and resell the property you are selling to a retail buyer. Retail buyers pay the most money. So you can make more profit.

But wholesaling has less risk. So a strategy that works very well is a combination of wholesaling and then balance that with rehab to resell. This way you are always flipping properties. With this strategy you can build up enough cash and capital so that you can start buying some residential rental properties. The residential rentals can then create long-term wealth.

What popular articles and blogs do you recommend?

Further Reading on FinancialGoodness.com: For more articles and blogs on real estate investing, check out our guides to Boost Your Rental Property Cash Flows and the Best Real Estate Strategies To Make 7 Figures. These strategies will help you build wealth as a real estate entrepreneur.

If you are interested in Becoming A High Net Worth Individual, please read my blog and watch the YouTube video by a fancinating guy named Andrew Hendersen, founder of Nomad Capitalist. He believes that the world has changed forever and says it’s time for you to “go where you’re treated best.”

These three real estate investing strategies that work every time are the keys that have made real estate investors very wealthy. They are the win-win-win strategy to real estate wealth. I have made very nice profits with these property strategies and I am sure you can too. Until next time, best wishes!

Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.

Santa Barbara Is The Best Neighborhood In Bogota

Enjoy Living In Santa Barbara

Updated April 13, 2024. Santa Barbara is the best neighborhood in Bogota. Colombia’s capital, Bogotá, is brimming with hotspots that draw more and more locals and visitors each year. For example, Usaquén, and more specifically Santa Barbara, are definitely experiencing a renaissance. As a result, Santa Barbara is by far the city’s most vibrant one, packed with antique stores, modern cafés, outstanding eateries and a popular Sunday market.

Real Bogotanos Live In Santa Barbara

To illustrate the culture of the area, if you want to know how real “Bogotanos” live, look no further than Santa Barbara. Consequently, this is by far one of the most authentic and energetic neighborhood in the city. Additionally, if you look at the architecture of the buildings, the new urbanism is shaping the area with the property owners making the transitions with the construction companies to construct newer design buildings.

Map of Santa Barbara Neighborhood. Photo credit: Google Maps.

Santa Barbara Lifestyle

For those looking for new apartments for sale in Bogotá, Santa Barbara is the area to that promises exciting news. Accordingly, the northern neighborhood of Santa Barbara is taking a large move towards modern architecture. Furthermore, the new buildings have many amenities as well, including security, entertainment and community services rooms such as business suites that are all equipped with the latest smart technology.

For this reason, if you would like to find out more information go to Properati.com.co. Or click on the Neighborhood Guide and scroll all the way down to Santa Barbara, because for me, the best neighborhoods in Bogota include Santa Barbara. Quite simply, Santa Barbara is a gem of a neighborhood.

Price Comparisons

Let’s look at a price comparison of properties in the Santa Barbara area and compare that to the prices of properties in Cedritos, Bella Switzerland, and Chico. Likewise, if we glance at the website properati.com.co/guia_de_barrio/santa-barbara we can see that the price for apartments in Santa Barbara is just below $6 million.

Overall, the price of apartments in Santa Barbara is more than those in Cedritos and slightly more than those in Bella Switzerland, but less than the apartments in Chico Norte, which is just to the south of Usaquén on the south side of diagonal street named Diagonal 92.

In my opinion, Santa Barbara is the best neighborhood in Bogota. Santa Barbara’s new modern urban buildings are a buy for the price, the value, and strength of the U.S. dollar.

Price Comparison Of Santa Barbara

Price Comparison / m 2 Properties

Property comparison of prices of Santa Barbara with Cedritos, Bella Switzerland, and Chico Navarra. © Photo credit: https://www.properati.com.co/guia_de_barrio/santa-barbara

Colombia Pesos To US Dollars

Let’s calculate the Colombian prices to US dollar prices. As of today, Tuesday, December 12, 2019, 1 US dollar (USD) equals $3,382 Colombian pesos (COP). By the same token, let’s also assume that the average price for Santa Barbara neighborhood is approximately $5,950,000 COP. Doing the math $5,950,000 divided by $3.382 equals 1.759 per m 2. For those of you not used to thinking in square meters let’s take a look at what this can buy and you will probably be very surprised at the affordability.

Updated June 27, 2022. The US dollar exchange rate continues to climb against the Colombian peso. As a result, currently 1 US dollar (USD) equals $4,135 Colombian pesos. In short, this is an awesome time to invest in Colombia and take advantage of the great exchange rate!

Why Invest In Colombia?

The World Bank catalogues Colombia as the fifth country in the world, among 183 countries, and as the first in Latin America, to protect investors. In fact, the Colombian investment atmosphere has been considered as one of the most favorable for foreign investment. In addition, Colombia is one of the most open economies, in terms of percentage of property own by foreigners, in Latin America.

Four Apartment Examples In Central Santa Barbara

In our opinion, Santa Barbara is the best neighborhood in Bogota. Take advantage of the strength of the US dollar and invest in a residential home. Clearly, Santa Barbara’s new urban buildings are a buy for the price, the value, and strength of the U.S. dollar.

Here are four apartment examples that I found online today. To show a comparison, the first apartment is a brand new one bedroom apartment. However, the other three apartments were not new, but they are similar, modern apartments.

Finally, I was quickly able to find a one bedroom, two bedroom, and three bedroom apartments for comparison. All of these apartments are listed on the website by LA HAUS at lahaus.com.

Example Of A Brand New Apartment

The first apartment is located at Vita 118 location in central Santa Barbara. The unit has one bedroom, two bathrooms, and two parking spaces for a total of 73 m 2. The price is $511 million.

You can see this apartment online at www.lahaus.com/p/vita-118-apartamentos/bogota. The description of the new apartment at Vita 118 says the amenities include a swimming pool, fitness center, and a jazucci. As equally important, the outside aesthetics of the building are quite simply beautiful and amazing.

New one bedroom apartment in Santa Barbara Central, priced at $511 million COP. Photo credit: lahaus.com.

More Apartments In Santa Barbara Central

Firstly, I scrolled down the web page of Vita 118 until it said “More Properties in Santa Barbara Central” and clicked to enter to search for more real estate for sale. My computer immediately went to lahaus.com/propiedades/bogota/santa-barbara/santa-barbara-central.

Secondly, I was looking for a one, two, and three bedroom apartment. Ideally, I was looking for apartments that were newer and modern as a way to reduce overhead maintenance costs. Moreover, I was also looking for better priced deals. For this reason, I found these four apartments to do a price comparison, but there were other apartments in the same price range, as you can see in the chart I created below.

Santa Barbara Central Apartments

   Bedrooms                     m 2                          Price COP                 Price USD

1 BR – New 73 $511,000,000 $151,094
1 BR – Modern
But Not New		 55 $315,000,000 $93,140
2 BR – Modern
But Not New 		79 $480,000,000 $141,928
3 BR – Modern
But Not New 		117 $540,000,000 $159,669

Comparisons: Santa Barbara Apartments

In general, the price for the brand new one bedroom apartment was definitely higher at $511 million COP or $151,094 USD. In addition, the outside of the apartment complex is beautiful, possibly has a more exclusive address, and the amenities could make a difference.

However, from a real estate investment point of view, the one, two, and three bedroom apartments, that are also located in the same Santa Barbara Central area, were all newer and modern. In addition, the total prices were much more affordable.

In conclusion, if you are looking to purchase one of these apartments for yourself as a home or as a rental, we would have to suggest that the better deal would be to buy a newer, modern apartment for a much better price.

Furthermore, for the last ten years the prices of real estate continue to increase in value annually. Therefore, going forward, if the prices of real estate continues to increase, as it has been doing in the last ten years, you will be glad for the future equity in your property.

Below are the details of the modern residential apartments that are for sale with the current owners. However, please do your due diligence to determine the IRR for these properties. In conclusion, our outlook is that there are some good deals for buying a house for your family or for added rental income if you look in the Santa Barbara area of Usaquén neighborhood.

One Bedroom Apartment:

Modern one bedroom apartment in Santa Barbara Central, priced at $315 million COP. Photo credit: lahaus.com.

Firstly, this one bedroom apartment that I found at lahaus.com, says it has one bedroom and two bathrooms, with one parking space. Also, this apartment has good lighting and ventilation, with a functional fireplace in the living room. Additionally, it is close to a wide range of shopping centers, restaurants, and banking. This one bedroom apartment is near Carrera 15, Calle 127, and Autopista Norte. Finally, the price of this one bedroom apartment is $315 million COP.

Two Bedroom Apartment:

Modern two bedroom apartment house in Santa Barbara Central, priced at $480 million COP. Photo credit: lahaus.com.

Three Bedroom Apartment:

First, I scrolled down and found a three bedroom, three bathroom apartment that looks new and modern. In particular, the description says this duplex penthouse is strategically located close to the Unicentro Bogotá Mall and is close to supermarkets and parks.

Second, the area is quiet and well lit. The first level contains dining room, remodeled kitchen, laundry, and bathroom. The second level contains the three bedrooms, a study, and two bathrooms, one with a jucuzzi. In addition to this, there is an elevator and two parking spaces. Finally, the price for this three bedroom 117 m2 apartment complex is $540 million.

Modern three bedroom apartment house in Santa Barbara Central, priced at $540 million COP. Photo credit: lahaus.com.

Conclusion

In our opinion, Santa Barbara is the best neighborhood in Bogota. At this time, Santa Barbara’s new urban buildings are a buy for the price, the value, and strength of the U.S. dollar.

What popular articles and blogs do you recommend?

Further Reading on FinancialGoodness.com: For more articles and blogs on real estate investing, check out our guides to Real Estate Investing Strategies That Work Every Time and the Best Real Estate Strategies To Make 7 Figures.

In conclusion, are you interested in taking advantage of the excellent opportunities in the capital city of Bogota, Colombia? In this case, if you are interested in purchasing a rental property, but are not sure about how to complete the process, please read my blog on how Everyone Can Buy And Own Property In Colombia. Overall, this article has many details about how to buy the affordable real estate in Bogota or Medellin that have the potential for excellent returns.

Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.

Invest In Real Estate In Bogota, Colombia

Why Invest In Bogota, Colombia?

Updated April 13, 2024. Bogotá is everything a capital city should be. It is the economic, cultural and artistic heart of Colombia. Bogota should be thought of as a vibrant core and a beam of modernity. This mix is the quintessential feel of a country that is held together between the exotic Caribbean and the captivating Andes. Bogota is so much more than a mere springboard to South America. Bogota is, in fact, one of the best Colombian experiences! But the big question is, why should you invest in real estate in Bogota, Colombia?

Facts About Bogota, Colombia

Colombia’s capital city of Bogotá, the Capital District, is the country’s largest city. The population of Bogota is estimated to be at 8 million. 3 million of these people live in the areas immediately surrounding Bogota. Meaning there are 11 million people living the greater Bogotá area.

Moreover, it is also interesting that Bogota is the fourth highest capital city in the world. The altitude of Bogota is 8,600 feet or 2,640 meters above sea level. For people reading from the U.S., the city of Denver, Colorado, also called the Mile High City, has an altitude of 5,280 feet above sea level or 1609.3 meters. So, Bogota is a high city!

A view of the center of Bogotá with the Andes in the background. Photo credit: Unsplash

Bogota, Colombia Is Rapidly Growing

In the last few decades, Bogotá has been expanding rapidly. Bogotá has rising tourism, a booming economy with high consumer confidence, an expanding middle class, and falling interest rates.

Not to mention, the cultural, historic highlights that make Bogota one of the of Latin America’s most rewarding destinations. “It’s a city that’s starting to catch up and come up after being held back for a long time,” said Sam Miller. Miller is a Canadian that moved to Bogotá years ago. He loves living in Bogotá, Colombia because the air temperature is so much better than living in Canada.

Sam Miller co-founded a real estate investment company called Colombia International Real Estate (a subsidiary of Lifeafar). Miller said in a recent interview, that there are tremendous opportunities “with a growing middle class and one of the largest English-speaking populations in Latin America.

As a result, Bogota, Colombia now completes for international home buyers. The sprawling metropolis of Bogotá now has sleek skyscrapers, and some of the finest restaurants, nightlife, museums, and shopping scenes in Latin America. Let’s look at those opportunities now in Bogotá for tourism, economy, and the real estate property market forecast predictions.

Growing Tourism In Bogota, Colombia

In Bogotá and across all of Colombia, tourism is on the rise. Over the last decade or so, tourism in Colombia has soared by more than 300%. The tourism has risen from one million foreign visitors in 2006 to more than three million in 2017. Colombia is a country that has seen unprecedented tourism growth over the last ten years. Consequently, Bogotá continues to lead the way as Colombia’s most popular destination for foreign visitors.

According to Ministry of Tourism data in 2018, Bogota receives 51% of the country’s total tourist traffic, followed by Cartagena at 11%, and Medellin with 10%.

Between 2011 to 2017, the number of annual passengers arriving at Bogota’s El Dorado International airport jumped from 20 million to 31 million. Airlines have added new direct flights to Bogota from destinations like Amsterdam, Europe, and Los Angeles to accommodate the rapid increase in Bogota travel.

In 2019 and beyond, we expect steady tourism growth to continue across Bogotá and all of Colombia. Likewise, Colombia continues to shed its dangerous reputation. Subsequently, Bogota will continues to receive glowing press releases and is building its name as South America’s hub for technology and culture.

The ever-evolving city of Bogota is forecasted to continue to attract a steadily growing stream of business travelers and government workers. These business travelers and government workers are in addition to the tourists, vacationers, and remote workers attracted to the city. If you would like to invest in real estate in Bogota, Colombia, please let us know.

Economic Growth In Bogota, Colombia

All of Colombia has seen tremendous economic growth over the last ten years. The country’s economic prosperity is evident in Bogota’s positive indicators. As the seat for government and business in Colombia, Bogota averages around 30% of the country’s GDP. In particular, the city is home to most of the multinational corporations. As well as national and governmental agencies in the country.

In its American Cities of the Future report for 2017/18, the fDi Intelligence research center recognized Bogotá as having the second-best strategy for promoting foreign direct investment in South America. Bogota was second only to Sao Paulo, Brazil.

Currently, the local economy is primarily based on the service sector, including financial services and telecommunications. Looking to 2019 and beyond, we expect to see solid growth in Bogotá’s tourism and agricultural sectors.

Over the next ten years, a steady economic upturn is forecasted to continue in Bogota and across the country. This is due to increasing oil prices, steady private consumer consumption, and recovery of non-oil exports, among other variables.

Real Estate Investment Opportunities

Bogota real estate investment opportunities. Photo credit: Unsplash.

The Bogota real estate opportunities are fantastic. Bogotá (and all of Colombia) has enjoyed historic real estate growth over the last ten years. Under the administration of President Álvaro Uribe in 2003, Colombian real estate prices took a massive uptick after crime rates have decreased. Since then, property market prices have gone up steadily across Colombia, rising an average of 8% per year in Bogotá.

In our opinion, Bogota is definitely a very exciting global investment opportunity to consider. If you would like to invest in real estate in Bogota, Colombia, please let us know.

Understanding Housing Estratos

To understand real estate opportunities within the city, let’s understand how the government housing stratum system works.

In Colombia, homes are ranked in socio-economic categories known as estratos. Estrado 1 are the least expensive and Estrato 6 are the most expensive properties. Bogota has four or five estrato 6 areas versus the single estrato 6 area in Medellín. According to Rich Holman, chairman of Lifeafar, Bogota properties in estrato 6 can be as much as 40 to 60% more expensive than the same properties in Medellin.

In particular, the Bogota’s rapid economic growth and expanding middle class are putting pressure on the upper estratos. This in turn is driving up demand even further in these already pricey areas. As a result, as real estate becomes more difficult to obtain, opportunities lie in new upcoming neighborhoods that have been previously overlooked.

It should be noted that with the majority of its properties in estrato 3 and 4, the increasingly trendy Chapinero Alto is a great example of an emerging barrio.This emerging barrio has a lot of room for growth (the term barrio in Colombia is used to describe any urban area neighborhood whose geographical limits are determined locally).

Therefore, more home buyers, renters, and business owners seek affordable pricing in neighborhoods like Chapinero Alto. The increased demand and urban renewal are likely to translate to increased property prices. Consequently, investors who purchase properties in up-and-coming neighborhoods now will likely see substantial returns as real estate prices continue to climb in Bogota and across Colombia.

USD Strength Compared To The Colombian Peso

Yet another attractive reason to invest in Bogotá real estate is the current currency exchange of the Colombian peso (COP) against the U.S. dollar. 

Total real estate housing units sold each year from 2018 to 2021.
Photo credit: BBVA Research.

November 8, 2022 update. In Colombia, people see the purchase of housing as a great investment. The current currency rate against the US dollar continues to be a favorable opportunity to acquire new housing with exceptional financing conditions and interest rates. New homes in Colombia grew by 9.4% in 2021.

In addition, the vision for 2022 continues to be encouraging. In 2022, is projected that investment in housing will grow by 10.6%, with more than 240,000 units sold.

March 26, 2019 update. As of March 26, 2019, the COP is trading at 3,144 to the USD compared to 1,872.5 on this day eight years ago.

To illustrate, the present-day U.S. dollars investor holds 67% more buying power than investors eight years ago. Similarly, for 2019 buyers with U.S. dollars, the undervalued COP makes high-quality real estate in a rapidly appreciating market a global bargain. Furthermore, with the great exchange rate these days for the US dollar, the Colombian markets are very appealing when looking to purchase real estate.

The Bottom Line For Real Estate Investment

In conclusion, tourism and economic factors continue to improve in Bogota. In our opinion, we do not expect the rate of real estate to slow down in the next five to ten years. Sam Miller says that “in emerging neighborhoods like Chapinero Alto, we see unparalleled opportunities for substantial returns as real estate demand continues to climb.”

Thus, imagine five to ten years of growth in real estate as demand continues to climb with an average of 8% a year in Bogota! So, invest in real estate in Bogota, Colombia! Bogotá is everything a capital city should be as the tourism and economic factors continue to improve.

In future articles I will investigate different neighborhoods for investment. We will explore the neighborhoods of Usaquen, Chapinero, and Chapinero Alto. We will give you our thoughts as we look at potential properties for growing wealth through real estate investments. In our opinion, Bogota is definitely a very exciting global investment opportunity to consider. If you would like to invest in real estate in Bogota, Colombia, please let us know.

Please read my blog on how Everyone Can Buy And Own Property In Colombia. We recommend doing more due diligence on specific property regions and areas you may be interested in. We would also recommend looking at property in Bogota or property in Medellin. Both of these locations have the potential for excellent returns. If you have a question or need more help, please send us a message.

Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.

About The Writers

About The Writers – Long Version

Updated April 13, 2024. Hello, my name is George Alexander Roy III. I would like to share a summary of About The Writers.

I started Financial Goodness in November 2019. Many years ago, I started working as a home builder and remodeler. Eventually, I earned my master’s degree in Real Estate Finance and Development from the University of North Carolina Charlotte. Most importantly, I envisioned helping people achieve their financial freedom sooner. Basically, I realized that I had the discipline to write about my favorite subjects consistently and I decided to go for it!

It is now a pleasure that our team has agreed to help in writing the blogs and the management of running the website FinancialGoodness.com. I am very thankful for the support. Please join us at FinancialGoodness.com to increase your knowledge through technology and education in personal finance, real estate, and investments. 

As a result, we are looking forward to increasing the information, value and the number of the blogs that we have available for our readers. At the same time, we understand that people search the internet daily for solutions to the many problems that we face on a regular basis.

If you would like to know more about the writers, please read the other blog About The Writers.

Create Wisdom and Knowledge by Reading & Learning

Here is a brief summary of myself, George Roy III. In short, I was determined to achieve and finish the impossible dream of earning a bachelor’s degree. Previously, I tried college after I completed high school. However, I was not sure of my direction and I doubted myself. As a result, I started working as a residential construction assistant and I did a tour in the US Navy. However, I was not very clear on what to do in life.

Nevertheless, after a while it became clear that I needed more in-depth classes if I really wanted to excel in life. So, I decided to go back to school. In particular, I made the decision to go all out and I dedicated myself to doing my very best at it. To make a long story short, eventually I did it.

At first I went to Corning Community College in Corning, NY. There I completed a math and science concentration and graduated with “High Disnstinction” honors after achieving a 4.0/4.0 GPA. Finally, I had earned my Associates Degree and prove I could do it! Right away, I applied to a handful of schools to complete my bachelor’s degree.

About the Writers – Discover Your Niche

I am so thankful and honored that I was accepted at Cornell University. With an acceptance rate of only 10.6%, Cornell is set apart in the fact that it was founded on principles of access and inclusion. In addition, I am thankful to graduate from an institution where the fields of study are so broad. It was definitely a challenge to choose from the awesome assortment of classes each semester.

Furthermore, I discovered I have a huge interest in environmental problems like global warming, air pollution, urban sprawl, waste disposal, ozone layer depletion, water pollution, climate change and many more issues that effect every human, animal, and nation on this planet.

I graduated from Cornell University in Ithaca, NY, with a Bachelor of Science degree in human development from the College of Human Ecology in 2004 with a 3.61/4.0 GPA. In addition, it was a privilege to be on the Dean’s List.

After graduation, I moved to the Charlotte, NC area to be an entrepreneur and start an eco-friendly window business New Windows For You. I managed and grew the sales of the eco-friendly window replacement business by 300% by implementing a multi-faceted business development, marketing and advertising program. Particularly, that marketing and advertising program communicated the energy conservation and utility cost savings associated with Energy Star rated insulated windows. I managed and operated this business for two years.

Surround Yourself With Intelligent People

However, having built and remodeled houses in Upstate New York, I was always watching the real estate market around the Charlotte, NC area for potentially great wholesale deals to flip. when I found a deal, I would purchase the house and then do a full renovation on the house and then put the house back on the market as a completely remodeled home to sell. I was grateful that my homes could compete head-to-head with the new homes that were for sale on the MLS.

The best thing about doing investments on houses was: I loved it! I had so much energy and enthusiasm that I was excited to get out of bed and give it my best effort each day.

Started A Residential Real Estate Company

In June 2006, I started the day-to-day operations of a residential real estate acquisition and redevelopment company.  Specifically, I carried out a strategic plan through marketing and network relationships to buy, renovate, and resell distressed residential off-market and pre-foreclosure houses.

In 2012, I decided to work on completing my Master of Science in Real Estate (MSRE) part-time at the University of North Carolina at Charlotte. Since 2012, I have maintained the LEED Green Associate credential for demonstrating green building expertise in green design, construction, and operations. I graduated in 2015 from University of North Carolina at Charlotte with a master’s degree in real estate finance and development with a GPA of 3.58/4.0.

Travel Experience In Rio de Janeiro

Part of the real estate master’s degree program included an international city study tour. In the summer of 2013 our class visited Rio de Janeiro, Brazil. As part of the tour, everyone had to do an in-depth research report on a topic that interested them. I was extremely interested in the emerging markets in Brazil, but also in the other emerging markets in other countries from South America as well. My research report was entitled “Managing the Regulatory Environment When Participating in Real Estate Development Projects in the Emerging Markets in Brazil.”

The emerging markets in 2013 in Brazil were impressive, with multi-national companies setting up temporary headquarters in Brazil with the Summer Olympic Games that would start in 2016. A number of real estate companies were busy constructing temporary apartments and building multi-sport structures for the events.

Moving To Colombia, South America

My wife is originally from Colombia, South America. Even though we met in the USA, I was curious to see what the real estate emerging markets looked like in other countries in South America, specifically Colombia.

My family made the big decision to move from Cahrlotte, NC to the area of Bogota (Bogotá), Colombia, South America in December 2015. Fortunately, my family had just completed paying for a small condominium / apartment in the new apartment building on the site where my wife’s parents live in Colombia, South America.

Previously, we had torn down the old house on a plot were my wife’s family used to live and converted the lot to a new three story condominium building. As a result, we now live in an apartment in the apartment complex that we had built in Mosquera. Mosquera is right outside Bogotá, the capital of Colombia, in a city to the west of Bogota.

Consequently, living in Colombia, South America, there are a number of positive factors including a booming economy, rising tourism, and an expanding middle class that translates into amazing real estate investment opportunities in Colombia. I will delve into these real estate topics in forthcoming articles.

Think Of Knowledge As A Tree

Recently I have been reading and listening to a lot of entrepreneurs. One of those entrepreneurs is Ryan Danial Moran. This guy is a genius. He said in a recent YouTube video presentation:

“You have to have a stake in the upside of something. The way that you have the upside is through ownership. You have to claim something as yours, or nothing ever changes. When people start looking for money, they see people as the barrier to the money. This is not how it works. The world does not reward that. What the world rewards is service to one another. Creating things that are of value to other people. As a result other people will voluntarily want to pay for that thing. There is no system, no hack, and no step by step process.”

“Except for this. Strategically position yourself to be always in the position of creating value in service to other people. If you want to make a lot of money, the way that you operate in service to other people is to look at what they are paying attention to. In the form of their time, their resources, and their dollars. And you go create where that attention is. You create a product, a service, an opportunity, content, and you create value. Create connection and relationships. You create FOR PEOPLE.”

These are some awesome words of wisdom! The world rewards service to others by strategically positioning yourself to create value in service to other people…. True wisdom.

Discover Your Passion In Life

So here we begin. Welcome to my blog. To sum everything up in the About The Writers section, our goal is to write about a multitude of financial topics that will help each person to achieve their financial freedom sooner. But more importantly, discover your passion. Passion is what motivates you to do the things you love and then do something extraordinary. Therefore, I challenge you to something extraodinary with the time you have on Earth.

Best wishes to all!

About The Writers: George Roy III – Short Version

My Past Resume

*Worked hard and received my bachelor’s degree from Cornell University studying human development.

*Received my master’s degree from the University of North Carolina at Charlotte in real estate finance and development.

*I learned a long time ago to never, ever give up. If it looks like you are facing an uphill battle, dig in deep and find every resource that can give you an edge. Then start progressing toward your goal until you finally achieve it.

*I like to write about the topics that interest me the most. These topics include: real estate; attractive financial products; the stock market; renewable energies and design solutions to rethink energy while protecting the environment; and retirement planning. Also I will keep the options open if another topic related to financial goodness looks like it could use more contemplation.

*Lived in three different countries: USA; Canada; and Colombia, South America. As of 2019, I have visited the beautiful cities of Rio de Janeiro, Brazil; Medellin, Colombia; London, England; Paris, France; and Madrid and Barcelona, Spain.

* In the USA, I have lived in Corning, NY; Orlando, FL; San Antonio, TX; Los Angeles, CA; Ithaca, NY; and Charlotte, NC. On the west coast, I have explored San Francisco, Santa Barbara, Los Angeles, San Diego, and Las Vegas. On the east coast, I have visited Lake Placid, NY; Boston, MA; New York City; Washington D.C; Wilmington, NC; Myrtle Beach, SC; Charleston, SC; Atlanta, GA; Savannah, GA; Fort Lauderdale, FL; Deerfield Beach, FL; Miami, FL; and St. Petersburg, FL. I have toured the beautiful city of Boulder, CO at the foothills of the Rocky Mountains.

*In Canada, I have seen Toronto; Halifax; and St. John’s, Newfoundland. In Mexico, I scuba dived in Cancun and Cozumel.

My Current Resume

*English is my native language. Gradually been improving my Spanish since my family moved to Colombia, South America in December 2015.

* My family currently lives in Mosquera, next to the capital of Bogota.

*Reading the news every day to see what is happening in the world.

* 14+ years of well-diversified real estate experience in the areas of project and asset management, acquisition, investment, strategic planning, development, and property ownership.

*I love physical fitness and have been an avid power lifter ever since I first held a weight at 15 years old.

*Go to the gym two to three times a week where I focus on weights and cardio exercises.

*Have a mountain bike and enjoy taking it off-road to see this beautiful Earth that we call home.

*I was the victim in May 2014 in a carjacking aggravated assault with an unknown gunman. I almost died. I spent five months in hospitals where I worked on regaining my health. My connection to God was forever strengthened as a result of this tragic incident. As Denzel Washington said in delivering a commencement speech “put God first” in everything you do. As a result, I put God first in all my decisions.

*I am a morning person. I sleep well every night. When I wake up I have a lot of energy each day to work on making my goals in my mind a reality. After lunch I usually rest for 30 to 60 minutes to get my energy back.

*Dad to our daughter in 2008. Don’t see my son from first marriage, so I pray for him every day.

*Love entrepreneurship and am fascinated by the potential opportunities that surround us every day.

*Launched Financial Goodness (FinancialGoodness.com) in November 2019. Wanted to create value and help people achieve their financial freedom sooner.

About The Writers: Contact Info And Address

Please feel free to contact us for radio; podcasts or written interviews; or other advertising or telecommunications opportunities.

We look forward to helping a reporter or a broadcaster out with local or regional news conference(s).

We use teleconferencing to hold discussions between participants in separate cities or in different countries. Familiar with the various technologies such as Zoom, WebEx, YouTube video blogs, and Live Video Stream on Facebook. We look forward to creating more services that are of value to you.

Writers Email:

admin at financialgoodness dot com ( Please DO NOT add me to your blast lists)

Writers Mailing addresses:

Currently, we am living in Colombia, South America but the US mailing address is much more reliable.

Writers USA address:

Please send us an email at admin at financialgoodness dot com and ask for our USA address.

Writers Colombian address:

We currently reside in Mosquera, Cundinamarca, Colombia. Therefore, if you live in Colombia or surrounding countries and would like to send mail directly to us, send us an email so we can coordinate a courier service.

Best,

George Alexander Roy III – “Seeking Wealth Through Investing”

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Last Updated on April 13, 2024 by Financial Goodness

Financial Goodness

George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.