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Thread: Deals to be had ..

  1. #1
    TRN Science officer bill_bly_ca's Avatar
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    Default Deals to be had ..

    Chilo ran across a FB for sale post for a 2mz plot outside Managua, towards Pochmille (On the other side of El Crusario I am told)

    two houses, rented ($75 each I am told) - $ 6K

    BIL is heading out to take a look Tuesday. If it looks as good as the pictures off to the Lawyer we go I guess.

    Wonder if we could even send in 6K these days.
    ==================================================
    Dude !!!.... Its a Canal !!! Can you Dig it ??

  2. #2

    Default Re: Deals to be had ..

    Quote Originally Posted by bill_bly_ca View Post
    Chilo ran across a FB for sale post for a 2mz plot outside Managua, towards Pochmille (On the other side of El Crusario I am told)

    two houses, rented ($75 each I am told) - $ 6K

    BIL is heading out to take a look Tuesday. If it looks as good as the pictures off to the Lawyer we go I guess.

    Wonder if we could even send in 6K these days.
    I just did with a bank transfer.
    No problem.

    Yes,, deals to be had, but there will be plenty of scammers too.

    Most of the TomaTierras paid someone to "register their claim".
    Individual amounts were small but added up to decent money

  3. #3
    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Deals to be had ..

    So 2Mx became 10 x 50 - I am guessing that in Varas


    The two renters pay $50 in US cash every month.

    Buddy needs $4K to seal the deal.

    Now it moves to Chilo's Uncle Sandie lawyer to see how the paper smells.

    It is about 100m on to dirt from a paved road but city water and Hydro.

    A 40 month payback would be fine, if they stay working. Videos of Avacado and Lemon trees and a basic pair of Casitas.

    We'll see what happens.
    ==================================================
    Dude !!!.... Its a Canal !!! Can you Dig it ??

  4. #4

    Default Re: Deals to be had ..

    Quote Originally Posted by bill_bly_ca View Post
    So 2Mx became 10 x 50 - I am guessing that in Varas


    The two renters pay $50 in US cash every month.

    Buddy needs $4K to seal the deal.

    Now it moves to Chilo's Uncle Sandie lawyer to see how the paper smells.

    It is about 100m on to dirt from a paved road but city water and Hydro.

    A 40 month payback would be fine, if they stay working. Videos of Avacado and Lemon trees and a basic pair of Casitas.

    We'll see what happens.


    I guess . . . . but,, 40 months is a lifetime right now.
    Plus,, Buddy will have to go by and collect the rent every month,, possibly multiple times,,
    I'd take the $4K and do Nicaraguan Pay Day Loans. Better ROI

    Maybe if you got the lemons and avocados . . .
    I have a mango tree on my spring property,, real producer,, somebody strips the green mangos every year.
    I have yet to taste a mango from the tree,, green or ripe.


    Just saying . . . . Life is short.

  5. #5
    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Deals to be had ..

    HA !!!!!

    I expected this...

    Buddy says to Daniel, Has to be $5K,
    Daniel:Well you said $4K
    Buddy: I know, but I need $5k.
    Daniel - Well the offer is $4k you take some time and think about it.

    Of course not a penny until the papers are reviewed, but buddy was not going to give a copy of paper unless the new total was agreed too.

    I am just an advisor here, but I told Chilo that even if Buddy says yes to $4k she should be very wary .
    ==================================================
    Dude !!!.... Its a Canal !!! Can you Dig it ??

  6. #6

    Default Re: Deals to be had ..

    I've been there!
    Don't give him any front money.

    I've told this story many times: we're sitting around a table at my lawyer's office, counting out stacks of $100 bills. I glance to the right and see the seller palm a bill.

    "This one is $100 short", says Don Denys

  7. #7
    Active TRN Member RGV AG's Avatar
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    Default Re: Deals to be had ..

    Every once in a while it is satisfying to be told "I should have listend to you, you were right", although most of the time it is bitter sweet because it means that somebody(ies) went against advice or recommendations and their decision ended up being the wrong one.

    About a month ago I was speaking with our closest friend and former employee/coworker in Managua. She has a very good job with probably the best Free Zone there and makes very good money, basically an attractive stateside salary while living in Nicaragua and she is paid into an account in the US, so as long as her employer stays viable she is golden. She carries as heavy burden as she supports her whole extended family, mother and aunt through her husband and two kids. About 5 years ago she was adamant and saving her penny's and saving her dimes, like the Beach Boys, to buy a house.

    She asked me for advice about this and what I thought and so on and so forth. She was looking at a smaller 3 bedroom house in Las Colinas for about $95K, in a good area, and close to schools. About a 15% down payment and I want to say her payments were gonna be right at $1000 a month for 20 years. That was basically for the shell. After buying the house she had to put another $4,000 into it, give or take. Then factor in the monthly upkeep and such. I was living down there during that time and if one looked and negotiated well you could still rent a pretty decent home in a good area for around $750 or so average, rents did go up for about a 3 year period after this. And that included AC's, and other things with it. I advised her to keep renting and saving money in the states, in the stock market in a diversified investment plan. Maybe to buy a lot instead and save to build on it when she had $30 or 40K saved up.

    I ran the numbers and it always made more sense to me to rent in Managua, and in Nicaragua in general, than to buy. I had a wonderful rental for 3 years for $500 a month, the widowed owner was thrilled with me because I paid the rent on time like clock work and kept the house up. I was about $200 less than the going rate. Ironically I think that rental was recently occupied by the Brazilian Doctor that was killed, it was by the American school and right down from Chico Lopez's house. It was a neat place to live.

    Currently our friend in Nicaragua wants to leave Nicaragua, but a large portion of her money is tied up in her house. She recently told me that a house similar to hers just sold for $70K cash and that several people have left and rentals for the houses is down to between $600 and $500 when they had been about $900. Many houses around her for active sale and others listening to offers. Nicaragua has a long, long way to go to get to what I call the "Typical Latin American Real Estate Market", where values basically outpace inflation and are stable as opposed to the currency risk of the country. Most parts of Mexico, especially CDMX and the resort areas and big cities, have done this. San Salvador is now about this way and so are the upper echelon areas of Honduras and Guatemala, not to mention CR. The big difference in Nicaragua as compared to those countries is the national ability of the country to have a functioning economy. Nicaragua is much closer to Haiti than the other CA countries and Mexico in that regard. Now add in the political situation and it is not good. Nicaragua does not produce near enough of what it consumes and has to import too many things. Equally many of the properties in Nicaragua are externally owned and purely spec. properties. The market is overbuilt at an uncertain time is basically what I am trying to say.

    Decent dirt land at a reasonable price is probably a darn good investment right now, but it is risky on in my opinion. Not so much due to confiscation and such, but more due to services being available in the future, and if already having services the reliability of them. Crime and safety also factor into the cost benefit equation as well. I think progress in Nicaragua is on holiday for spell.

    The worm will turn in Nicaragua, and by no means would I despair if I owned property there, but the caveat in that you have to have an assured source of income or lots of $$ in the bank.

    I think that right now might be a real good time to lock up some long term rentals for a very favorable rate. I like renting, it allows you to skid your rig when you need to, just have to be discriminatory in your choice and fall in love with the deal, not so much the property.

    Our friends down there would be in a much better situation right now if they were renting than by owning a property with another 10 years to go on the note.

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