Step 1: Come and visit (you owe it to yourself). Medellín is amazing! Cuisine, people, weather, atmosphere, the art and cultural scene, the vistas, and everything to make you fall in love with a place from the moment your feet step off the airplane. You won’t want to leave…. guaranteed.
Step 2: Walk around the neighborhoods, get a feel for each place. Don’t be afraid to get lost! Use google maps for directions and just follow your heart (or nose!). If you’d like to book a private tour to see the best areas/projects/listings and properties in Medellin, you can reach us anytime at email@example.com or +573116711475.
Step 3: Get a representative/broker. Get in touch with a us, a real estate firm you can trust, and we’ll get you set up with a lawyer than can represent you in all transactions. We have brokers, lawyers, accountants and investment managers that will help you make this process smooth, easy and safe.
Our promise is to protect your interests at all times, and as experts in the market, and alongside our certified Colombian lawyers, we’ll take care of representing you and keeping your investment on track at all times.
Step 4: Investment or Residential? Make sure you choose what’s more important: an apartment to use for YOURSELF, where you don’t want anyone but your friends and family coming in, or an apartment that will MAINLY generate monthly income and will appreciate considerably over the mid to long-term.
This is important because it will determine the type of property that will fit your needs best, and the ones we’ll focus on. There’s really no right or wrong answer, just a matter of personal preference.
One is a home, a residential property. The other one is an investment property, which will increase your capital over time, and will continue to provide cash flow in the years to come.
Step 5: Open an account with a Colombian bank. Colombian branches and US/EU branches of the “same bank” do not cooperate or work together at all. They are TWO separate entities. What that means is that if you have a bank account in Citibank US, that doesn’t necessarily mean you’ll get approved at all in Citibank Colombia.
You’ll most likely get denied, because they work with different rules and regulations, and you don’t have something called a Cédula (a type of social security ID number that’s approved for residency).
We in Spring Living Medellin have all the best alliances for banking in Colombia to make sure your process of investment is followed correctly. This is a prerequisite to buying a property, because you MUST register any amount over $10,000 with the Colombian central bank and portray to them the purpose of that investment so you don’t have any issues with repatriating your funds.
Step 6: Find “the one”. We’ll help you find a property that our knowledge, the numbers, your gut intuition, and your mind will tell you it’s the right one. We’ll take you to tour the lots, the properties, neighborhoods, and show you all the available opportunities that we cherry-pick each day for our investors.
We’ll be looking at neighborhoods like Provenza, Parque Lleras, Manila, Astorga, Lalinde, Las Lomas, Laureles, las Palmas and El Tesoro. We’ll make sure you see a broad spectrum of options to pick from so that you can also start to form an idea in your mind of value of the land and the variance of income, costs, fees and land distributions. This is a super fun process that we love! We’ll meet up for coffee, look at options, and take our Audi A4 company car from there to go tour these listings.