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All Forum Posts by: Timothy Vance

Timothy Vance has started 3 posts and replied 6 times.


 Yeah, the lending situation in Colombia is complicated. Traditional loans are unavailable to foreigners unless they have long-term permanent residency in country. Even with built in depreciation of the peso, the loans are way more expensive to service than US-based lending.

Ideally, I would be looking for a 2-3 year runway before I had to pay back principle. Does that kind of timeline exist in the private lending space?

Quote from @Mike Lambert:

The collateral and the lender have to be from the same country. So, to be able to help you better, we'd need to know in which country your collateral is.


I have illiquid personal assets in the US that I could use as collateral for US-based lenders. I think for a smaller project (under $250k) here in Colombia, I could collateralize the whole thing using just my own assets.

I know the website is almost exclusively focused on US markets, but I'm currently living in Colombia and I am amazed by what I'm seeing here. There is A LOT of potential. The city where I'm staying (Medellin) has a vibe that reminds me of what Austin and San Francisco had 20+ years ago. I would regret not capitalizing on this ...

Which is why I'd like to look into private lending. I have two budgets in mind (big and small). I have enough assets (albeit illiquid) to fully collateralize a loan for my smaller budget.

I'm currently putting together a team of lawyers, folks who work for the government, and architects, I just need the financing to move quickly on some properties.

I appreciate any and all insight, suggestions, or referrals you could make. Thank you!

Quote from @John Underwood:

Hookers, they use by the hour hotels.


 I was thinking more along the lines of Peerspace, but okay. LMAO.

I'm considering different options for one of my rentals.

What are some of the best online platforms for event (or by the hour) rentals?

Are there any special considerations/risks I should be aware of going down that path?

Thanks!

I own a two-story duplex that was originally built in 1938. One unit occupies the entire 2nd floor, and the other unit occupies the entire 1st floor. I'm househacking now. I try to be quiet for my tenants above me, and my tenants above me are quiet and respectful for me too, but I plan on eventually moving out. 

My question is: How do y'all manage sound between units? The walls (or in this case, floors) are very thin and you can hear quite a bit.

How much of a drawback is this? 

Will I have to provide discounted rent in order to keep future tenants happy?

Has anyone had luck tearing out the floor, securing loose floor beams, and installing sound insulating materials? I'm not trying to eliminate all sound, which would be impossible, but at least eliminate being able to hear talking, TV, and radio.

Any other recommendations?

Thanks, y'all!