Category Archives: Finding ways to my retirement or living overseas
Thanks to one of my readers, I came to the attention that in Ecuador there is no such a thing as “Short Sales” on properties. I will try to provide some inside view about Real Estate Sales in Ecuador.
Latin American countries have particular structural features that complicate the regulatory environment of capital markets and affect the effective execution of short sales on real estate properties. For local Ecuadorians to purchase a real estate investment through a lender (Bank or Government Agency) it is easy since the introduction of the US dollar as the official monetary unit for all banking and government transactions.
In theory financing is available in Ecuador, but in practice it is difficult to arrange for foreigners.
The Ecuador constitution guarantees free access to the banking and credit market to locals and foreigners alike. The same as it guarantees the free right to own and hold property.
You can buy real estate once you land in the country using only your passport as identification. This is not just a policy of the current administration that can easily be changed – the Ecuador constitution guarantees the right to buy and hold property for everyone, citizens and foreigners alike. In fact, once you are in the country with a valid visa, the Ecuador Constitution guarantees that you have the same legal rights as Ecuadorian citizens, with the exception that you can not vote.
Additionally, there are no restrictions on owning beachfront property as there is in some other countries. Real Estate problems have mostly been the result of buying property that the seller did not have the right to sell – a proper title search, or buying title insurance, mitigates this risk.
The difficulty that foreigners face on financing is the inexistence of a “credit rating” system in Ecuador. Adding to this, there is a high default rate in their financial system, so it’s hard to qualify for a loan without a local employment history or a co-signer.
A good credit rating in the US does not mean anything here. Interest rates are typically 12% or more, and 30% to 50% down payment is standard.
The great opportunity to take advantage is on Pre-Construction Featured Projects in Ecuador. You could finance your down payment free of charge and cero interest until the project is ready. Also you could sometimes get the sellers to provide future direct financing, but they will typically require at least 50% down payment.
Getting back to the term of “Short Sales”, the definition applied to this term in Latin America it is completely different, “short selling” relates to market shares or stocks. Latin American capital markets are characterized by the following factors affecting country risk perception from the international investor perspective:
- Reduced liquidity
- Limited price formation
- Unavailability of information
- Small economic size
All this facts makes it difficult to assess the appropriateness of short sales norms. Let’s say in Ecuador there is no currency market since their official monetary unit is US Dollar, so there is no possibility of short sell that would depend on the existence of a fixed or a floating exchange rate regime.
Therefore, Ecuador does not approved or makes it feasible to short sell in equity markets; there are no regulations on the topic.
This is the best place to invest in cheap property, not to go on market trading…
If you need help with information related to buying property in Ecuador at real cheap price let me know… Hereyou have a sample of a real cheap property only $ 65.000 US dollars on sale directly by owner, ocean side gated community in Playas Villamil, the best ocean weather in the world.
Play safe while in Ecuador, join our newest social network.
This site is a social network for people that wants to make new friends in Ecuador.
The best way online to meet local contacts in Ecuador and start your new social life!
Now days it’s not easy to find our way around on finding new contacts or friendship once we decide to move or travel overseas. We need to find trustworthy and reliable contacts where ever we are planning to go in the world.
Most globetrotters are on Twitter? Facebook? MySpace? LinkedIn? Other social networks? Posting regularly? Checking your email every 15 minutes (and immediately responding)? Cellphone on all the time? Is it helping your quality of life?
We get caught up trying to keep up with the latest ways to boost our social life. In some cases, a small effort has a major benefit (for example, a profile allows people to find your online 24/7). But when we spend too much time focusing on trying to keep up with “the world”, we lose sight of real person hidden in the online world.
Can we truly create our intimate network? (people who truly know and care about us).
Hyper connectivity is giving us the feeling of doing something (having thousands of Twitter followers) but at the expense of meaningful relationships (both in our personal and business life). It’s also decreasing the amount of creative “unstructured” time that we need to think deeply about issues. If we’re always reacting to a stimulus, we have no opportunity to actually do something novel.
You may have already decided to search for a fresh new life overseas with great ambiance, ocean waves, fresh food and a relaxing local business approach. For sure you will need to include new people into that awesome new life, by helping create pluMMix.wall.com – Ecuador and adding real contact names references, we will have access to straight forward conversations related to ECUADOR and Latin America.
Join us today… pluMMix.wall.com
Unete al mejor lugar para comunicarte con extranjeros sobre temas actuales. from
¿Te preguntaras por qué? Resulta que la nueva meca norteamericana es Ecuador.
Es la nueva oleada en USA y Europa…. El reto de vivir mejor con menos…
Una nueva visión internacional, ECUADOR el país donde se propone a un nuevo estilo de vida y donde pueden obtener una vida de calidad.
Ecuador… A Retirement Haven That Has it All…
Bueno, por fin llega el momento de proveer un espacio diferente solicitado por todos.
pluMMix.wall.com es un estilo nuevo en Ecuador que te permite tener tu espacio personal.
Al ser 100% gratuita en Ecuador, es escogida por personas como tú y yo para promocionarnos al mercado internacional, aunque también muchos conocidos la aprovechan para promocionar sus nuevos trabajos y anunciar eventos.
Aparte de eso, es un lugar donde puedes dar a conocer al mundo tus aficiones, gustos y fotos en grupos y blogs personalizados.
Dispone también de online chat que es como un messenger para miembros de pluMMix.
Al igual que el resto de redes sociales, te permite escoger si tu perfil es privado o público, y sólo tú decides quién puede tener acceso a él.
pluMMix es una página web de contactos al uso, con la ventaja de ser una de las más frecuentemente utilizadas por los extranjeros.
Aprovecha únete hoy en su versión Beta en Ecuador…! pluMMix.wall.com
The actual performance of the region’s economies is surprisingly strong particularly when compared to past crises. China’s sustained demand for the commodity exports of the region and the timely monetary action of the IMF liquidity provisions, are two external factors that are undoubtedly part of the explanation.
However, internal factors played a major role too including greater macro policy resilience and the financial sector reforms in most countries over the last decade. One over looked factor is the contribution middle class consumption has done to the region; Latin America middle class is not the stereo typical one, they will be closer to poverty class in standard societies, and they also have limit access to aggregate demands that will condition micro economic growth, therefore domestic demands have allow this economies resilient to global crisis.
Future challenges will be: to secure domestic financial development against political pressures for short-term gains, to pressure the local financial sector as a market player while maintaining sound lending practices, and to adopt real government policies to sustained macroeconomic stability.
As for our self, if we are looking for new horizons to develop careers or retire while still contribute to society; this country will be a great opportunity to put in action collaborative strategies for development. A good starting point to contribute to real wealth and welfare should include strong education systems and investments in order to organize economics and promote better incomes distribution. Let´s make a better world for our next generations.
I will like to invite you to watch the following video
First working day of the month of October and by reading most of my friends and colleagues e-mails, I am realizing that weather change is approaching. It is getting cooler up north, and we are getting warmer here in our tropical Coastal Ecuador.
I use to enjoy and welcome fall and winter, it meant slowing down, looking intro perspective, and start building and planning my next steps in life. But also, this reminds me one of the main reasons to be living in Ecuador with this nice hot warm weather.
Around the year 2000, when I was developing my professional path in USA and Latin America, some health issues interrupted all my wonderful working and travelling plans.
Within all the travelling options, one was to visit family in Ecuador. Once on my trip, I ended up checking the local health and medical resources because of a severe pain crisis (spinal discs problems). I was basically pain managing for a couple of years but came to that point that I needed surgery.
Let´s make this story short, it was my second back surgery, I had already one done in Canada with success. So without even thinking or making my health a priority in my future plans, I review all the options and opted for the best ones at that specific moment:
1.- My medical expenses were covered here in Ecuador by my insurance policy
2.- I could opt for top level doctors and hospital beds, since the rates were lower here in Ecuador.
3.- All international insurance companies have local referrals that are practitioners who have done their studies in USA or Europe, even award winners professionals.
4.- Since I was covering expenses directly, I did not have to wait on line for tests or MRIs.
5.- I could set up myself in a nice upper scale condo with house help for less than 1.000 US. (I need 3 months at least to be able to drive again)
I had the surgery by a recognized worldwide surgeon, a nice recovering period, fresh home made food and care, and I was keeping up with my pending working projects and connected to the world by the internet.
Maybe this is not an option for everybody, still you could always research medical options overseas. There are online medical referrals to consult your options even here in Ecuador.
I will leave you with some nice pictures of some of my personal adventures here in Ecuador. I was asked by one of my readers if the posted pictures are original, I would say mostly they are. At times, some pictures are from other sources which may narrow the certainty of their originality.
P.S. Due to my health issues cold weather doesn´t agree with me, and in Ecuador, I am able to afford on going therapy and massages plus attend exercise classes like yoga and Pilates to manage my health as I am aging.
Now heading towards its 4th year, it is the leading event in Ecuador dedicated to educating investors and traders of all levels.
When you make the decision to buy a home to live in, or for an investment, it is critical that you immerse yourself with information and insights from trusted, experienced experts – and this is on-tap at the show.
With a major exhibition and over 70 high-powered seminars across three information-packed days, visitors will leave each show with a greater understanding of what’s required to make smarter (and more profitable) decisions when researching, finding and buying their next property in Ecuador.
As an independent exhibition participant our objective is to provide visitors with the opportunity to gain direct access to the most impartial, highly qualified and successful experts from Ecuador and around the world.
So if you only attend one property education event this year – make it EXPO-HABITAT 2011 in Guayaquil, Ecuador, one of the most leading events.
Local projects, properties and contractors… all in one place for you to search your best real local price property of your dream.
I trust the following website will provide you with an inside view of the show, I could help you out with all the information you need since everything will be outline in Spanish.
Start building a network of professionals and friends overseas as the stepping stones to a great life overseas…
I don’t need to remind you of the problems we are facing today, in North America and elsewhere. You may already be watching your nest egg shrink…and, like many, may already be taking a hit on your day-to-day quality of life.
So, we get excited around the idea of a brand-new start in a brand-new place where you can enjoy all the things you might be missing out on right now.
Then, reality sets in.
You will have to sort through an overwhelming number of possibilities out there, making all of us tipsy when thinking about crossing the fence to a complete new setting in life.
First, let´s check some basic ideas to help you see if living or retiring overseas works for you.
People who chose to retire overseas weren’t prepared to settle for an average retirement. They were looking for a better quality life under a lower income.
The word “retirement” has nothing to do with checking out or taking it easy, unless you want it to and could afford to. Maybe this is your case, here you will find great places were you could improve your golf swing or join a bridge club…or you could spend your days lazing in a hammock beneath a palm tree. And no one would think any less of you.
For the rest of us who are not ready to take up a position on the sidelines of life, there are plenty of options to show you here in Ecuador, South America. And, I am pretty sure they could be applied in other Latin American countries.
The world is alive with opportunities for fun and for profit, no matter what your age. That’s because it is easier today than ever before to live, travel, invest, and retire as best suits your personal agenda.
Now, if all this ideas are for you, then you should start working on a plan to make your dream come true. My first suggestion will be to start building an online network of people (professionals and friends) that will help you along the journey.
I know sometimes it is difficult to garner the right information. They usually tell you that you are not going to find reliable answers to your life-overseas questions by simply surfing the web…or reading all the books you can find on the subject.
I believe that if we pull together to provide the right information online from honest professionals at each local place, we will be able to overcome this sort of limitation.
Apply your common sense and ask every question that you can possibly conceive. On this blog, we should be able to provide an open source of information for your plans to live overseas, and not to depend only on paid sources from people who have experience traveling or living overseas and making a profit out of it.
If you like to share o become friends to help others online, please write something about your experiences when going overseas. Here you have few topics to start springing ideas in you:
How much money do I need to set aside for going overseas? Should I sell my house? Will I rent a property overseas or should I buy?
Things like local health care, Immigration laws, ways to make an extra income, local customs and the way they deal with foreigners, how to buy property, especially in developing markets, any main issues faced by all would-be overseas retirees…
Good luck and welcome to the Global Community!
Even though I do not agree with the hall merchandising idea they do with places like Ecuador as a retirement heaven from companies that make a profit by providing information about the country or expats contacts. I have decided to provide a link and the information from one of them which it is reliable and can provide you with good results.
I believe we are all free to choose, maybe they provide a service that is in need to certain people that may feel a bit insecure or overwhelm of going on their own. I will invite you to try to find out first on your own, if you find that it is to much to grasp at once you should try this type of services.
You could find a lot better deals and great friends by searching a bit on your own.. I am always here if you need any kind of assistance, if we make any money should be on real transactions services on a property, not just by getting you a local contact list or properties listings that most of the time they haven´t even seen it them self.
Another way to keep informed is to subscribe to their newsletter and start comparing information online with the one provided on the newsletter. Remember they are making a business out of it, sure they will not show all the information you need to balance your decision, specially if there are any cons on the location or properties.
Sure you will get hints and on going tips for overseas living… Check it out and good luck with this hall new adventure!
Please read the previous link to get information and tips on an affordable place to live overseas.