Merri and I began buying fixer upper Ecuador real estate at really bargain basement prices when Ecuador’s economy collapsed.
This creates some Ecuador bargain potential for you.
We negotiated over a year to buy this building. It was a mess.
fixed it looks like this…
and we renovated one floor at a time.
If a person spends time in Ecuador and stays alert, he’ll see many incredible fixer upper bargains. However there is also great potential for those who like to be landlords (which Merri and I do not).
Merri and I bought this four story office building… we cleaned it up and converted it into condos.
This was the third floor kitchen… another mess.
Here is the third floor now.
This is fully furnished with…
two bedrooms and …
office/den and…
balcony. The kitchen now…
looks great. The hardwood cabinets had not been installed when I took this shot but are in place now.
We did not start redoing this floor until we dealt with the 4th floor… an even worse mess.
Before.
After.
This is a loft studio with…
great light and an open feel with…
full dining area and…
kitchen.
These floors are among the highest points in the village and views from both units are the best around. Mornings give…
the sunrise over Mt. Imbabura.
Evenings offer sunset in the east on Mt. Cotacachi.
Views are great at night with the village alight.
and you can see the entire village…
and both mountains during the day.
Where we had huge walls we said…”How about windows with a view instead?” The builder figured out what height was needed to see Mt. Cotacachi and simply knocked the window openings in the walls. Then he built hardwood window surrounds that frame this view.
The bathroom includes a full tiled bathtub and spa shower like this.
The king size sleeping nook has this view also and is fully curtained…
with full hardwood closets.
The third unit is on the first and second floor.
The first floor has a living area and…
dining and…
and…
bathroom.
There is an open ceiling and…
Upstairs on the second floor is…
the bedroom and…
a second bathroom.
There is…
plenty of…
light and…
plants.
This apartment building is at…
a central location in Cotacachi directly across from the colonial Inn Land of the Sun (formerly Meson de las Flores).
This is next to the main…
one block from the central plaza.
These units are all rented right now on a three, six or 12 month lease.
The sales price is is $149,000 for the entire building, which has a $21,000 a year income potential. Be an Ecuador landlord or live in one unit and live well in Ecuador off the rent of the other two units.
If you are interested send me a note at merriscott@hotmail.com
Anyone can have a nice place like this but the process requires work and patience. Instead you can own this building already completed.
Gary
