Would you rent a room or your own place?

[Tinto]

I thought Pete E. was creative in his living arrangements by renting and living in a large luxury apartment in Cali then renting out rooms to visiting Gringos. I don't think you would like doing that Ray but in Pete's case it was ideal; he was able to live in an apartment that he might not have been able to afford, and since he was a people person he met a number and variety of different people coming and going.

Since the cost of apartments has risen dramatically in the last few years (at least in Medellin) it doesn't make a lot of financial sense to own an apartment for rent unless you find a nice apartment at a great price. I would think there would be better ways to make money rather than trying to find Gringos to rent your place while visiting Colombia.

I agree somewhat about the guy Pete, but he was no investor and his place was not what I would call 'luxurious' by any means, and he rented and subleased his rooms. It's not easy to rent your pplace out in Colombia if you don't have some type of advertising vehicle and I know guys now that bought and regretted it, but then again they were teachers, pension guys, 9-5ers, etc; and most do not know the real estate game SOTB. It's a tough call and dropping $200k in a 3rd world country where danger is imminent (see my Rio real estate topic). I've also noticed guys who can't afford to buy, they make up reasons in their own mind why not to invest. Otherwise they would if they could.

Thanks for all the feedback.