I've been getting a lot of people asking me if I can help them find rental properties lately and this got me thinking about the idea of purchasing property in Cotacachi specifically as an income producing rental. A lot of people want to rent for awhile before they buy and that makes sense for many, especially if you have never been here and don't know the area or the market. Many people coming down have a dog too and it can be difficult to find a place where their dog is welcome. Some communities have limits on the number or size of dogs allowed, so someone with a big dog has a bit harder time finding a rental.
If you're interested in owning rental property, the townhouses listed on this page are excellent investments. These homes can be rented for $500.00 a month unfurnished and a little more if you want to furnish them. With a purchase price of $85,000.00 that could represent a return on investment of around 7%. Not too bad when you consider the interest rate banks are paying right now and the instability of many other investments. It's also hard to beat real estate, especially in a growing market like Cotacachi, as a solid, wealth preserving investment.
We currently have one townhouse complete and ready for occupancy and two more that will be completed in November. If you plan on moving to Cotacachi to live, you could even live in one and rent the other. That way you'd be right on site to keep an eye on your investment. Even if you don't live here though, I do and I can keep an eye on things for you. I'll even help you find a long term renter. Contact me for more details.