All Forum Posts by: Thomas Saunders

Hello all.  It´s been three years since I´ve signed in...  Had two more kids and was hard at work on this project: https://youtu.be/GiR-O75lC0Q?list=PLK4YmPymg7kCf-H... and others.

 I got pulled back in by the excellent podcasts.  Thanks to both the guest speakers and the moderators for the huge wealth of info here.

Hi Brandon Turner, Thanks for the welcome and for managing this burgeoning batch of forums!

Even as an investor down in Ecuador I'm still interested in the market in the US... strangely trying to take what I've learned here back to the States as things start to warm back up there!

I have a history in Gainesville, Florida and I'm even poking around there now looking for a lot, HUD home or foreclosed lot/property where we can store our boat and maybe rent out a SFH... instead of paying monthly storage fees for our boat (42ft, 17 ton sailboat) stored on the hard in a marina in Green Cove Springs, Florida. Currently paying ~$200/mo. Ouch, that was financially dumb.... I won't tell you what I payed for the thing...

Any comments on this auction coming up on auction.com would be appreciated: http://www.auction.com/Florida/residential-auction-asset/1457872-4031-505-N-STATE-ROAD-21-HAWTHORNE-FL-32640-O372 Last listed at around 56K, this looks interesting but I don't know the first thing about buying at auction. I do have friends in the area that can ground-check it for me... but... nervous...

The grass is always greener saying pops to mind. I suppose there is opportunity everywhere... its just seeking it out and doing something about it.

Thanks for making this space what it is... even the connection I've had to the moment has reinvigorated me substantially so thanks to BiggerPockets for that straight away.

Hi Karen Margrave,

Thanks for the welcome and your inquiry.

Building materials are readily available here but not nearly as centralized as you pointed out. It takes awhile to establish the relationships necessary to get materials at good prices (and on time!) but it is doable. Everything from pre-fab foam panels to high-end finished woods are available at great prices... it just takes awhile to get to know the "guy" or "gal" and build a relationship to where you can make a couple calls and the necessary materials... materialize... (sorry for the pun) on your job-site.

It's the same game as in the states, but played in the context of a different culture... which calls for different strategies in dealing with supplier relationships etc... A lot of what I'm saying is guesswork though as I've only really done construction in Ecuador and don't really know how things work on the ground in the US!

Lot's of potential... you just need to get dialed into the game as its played here in Ecuador. One piece of advice getting started would be to take a really deep breath (or many), let go of expectations, and work with others to get the job done on the job's schedule... a statement that will scramble the minds of most people in the US reading it. It can be made to be efficient... but its an entirely different strategy to get there... Enjoy your undertaking and those helping you make it happen and it will come together, fight it and get angry and it will fight you back.

That's my oversimplification on the subject. Gotta love Ecuador.

I appreciate the welcome Robert Adams,

I've got a couple stories to add to the stacks I've found here. I've definitely done some interesting reading in the forums since I found the site last night.

Ahhhh, the deep learning and perspective that comes from precious real life experience! Nothing beats it. So nice to find a place with the filter removed and the cash register shifted off to the side of the conversation. Nice design.

Thanks for the welcome John Moore

Never a dull moment. Life is short, it seems like this is a community that likes to keep things interesting!

Today I think I got the @ response thing sorted, found it here: http://www.biggerpockets.com/blogs/1/blog_posts/20337-at-mentions-come-to-biggerpockets)... I'll take every step forward I can get.

Hey @Chad Ballard,

Thanks for the welcome.

I'm a big fan of the central coast from Manta to Cojimes. Especially these smaller fishing/tourist towns with access to the city life a comfortable 30 minutes removed. I lived in Crucita for a few years but now live full time in San Clemente where we are starting our condo development project.

It's definitely worth coming back especially if you already have a feel for Ecuador and if the lifestyle and culture resonated with you. Look me up if you're in the neighborhood!

Thanks @Mehran Kamari,

Yes indeed, I look forward to staying connected here.

Ecuador is a great place and the people really are wonderful. Like anywhere, life still happens here, there is no magic place where life's problems disappear... I just liked the idea of dealing with life's problems from the beach! Please let us know if we can offer any help with suggestions re: travel planning. Now is a good time to visit and if you have the freedom to do it, its definitely worth checking it out in person.

See you around the forums!

Hi Edwin. Un gusto conocerle. Thanks for the welcome.

Winston, Thanks! I think we... (this has adventure wouldn't have been close to possible without my wife's support and decisiveness!!!)... took a less-conservative approach and just kind of made a huge jump after having really felt the opportunity here.

We are bilingual and we've been working in Latin America for over a decade so we are in a unique position to offer value linking the US and Ecuadorian markets. We've leveraged that as much as we can and hope to continue doing that.

One challenge we've faced is getting spread too thin and I'm still trying to figure out where our energy will be best spent... definitely like a kid in a candy store trying different niches (agent, builder, developer, and we're starting to work with an escrow company on establishing a REIT to access larger properties) and getting my hand slapped here and there and learning lessons.

It's still hard to determine what is the best area to focus on because it seems like the transaction to transaction variability in profit (and loss) within a niche is greater than the variability between the different niches... makes it hard to nail down a niche to really focus on.

Anyone with hands-down advice or strong opinions on where to focus, please do share!

Sorry for the really long response to your welcome message but the real estate community in Ecuador is limited and it feels quite refreshing to connect to this community.

I found the site and am looking forward to sharing my experiences and learning alongside my peers here in Ecuador and in the US.

I originally came here in 2006 doing scientific work and couldn't help but say yes to a 14K thatch-roof beach house that I came across while doing some post-work travel with my wife.

That was the moment I became a real estate investor and I've been gaining experience ever since... eventually moving here permanently. I've learned about construction by building 4 homes, attracted investors to start a 52 unit condo project and acted as a buyers and sellers agent for 20+ transactions in a very dynamic marketplace.

Ecuador is a South American country about the size of Nevada sitting on the equator, with its own stretch of Pacific Coastline, a chunk of amazonian rainforest, and a mountainous backbone peppered with volcanoes. It has also been touted lately by International Living as the world's number 1 retirement destination which has heated up the market.

I've taken some hits and had a few wild-west moments here, but overall I must say that I'm enjoying the challenge and looking forward to getting better at it!

Here's to learning from and contributing to these forums. Thanks for having me.