Investment Property in Riohacha

Investment Real Estate in Riohacha

Riohacha property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Riohacha and LATAM .

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Searchable Map of Riohacha Investment Real Estate

Riohacha (Spanish pronunciation: [rjoˈa.tʃa]; Wayuu: Süchiimma), is a city in the Riohacha Municipality in the northern Caribbean Region of Colombia by the mouth of the Ranchería River and the Caribbean Sea. It is the capital city of the La Guajira Department. It has a sandy beach waterfront.

Founded by conquistador Nikolaus Federmann in 1535, Riohacha was named after a local legend, “The legend of the Axe”. Because of the powerful rain shadow of the Sierra Nevada de Santa Marta, the area is mostly desertic. It is inhabited primarily by Amerindians, predominantly the Wayuu ethnic group. During colonial times, Riohacha was a very important port, as divers could retrieve vast numbers of pearls from the harbor.

In the second half of the 20th century, the city developed as one of Colombia’s medium important, maritime commercial ports. It is also a multicultural center for La Guajira Department. The city is mentioned several times in novels written by Colombian writer Gabriel García Márquez, who won the Nobel Prize in Literature. Among his important works are One Hundred Years of Solitude, Love in the Time of Cholera, and Chronicle of a Death Foretold.

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The increasing financial and political stability of Riohacha has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

Buy to Rent in Riohacha

Renting out your Riohacha buy-to-rent out investment property can grow wealth and income.

Whatever your goals with investment property in Riohacha are – preparation is key.

Set goals based on how much rental yield will be required and the local rental yield rates in Riohacha and be prepared to change your initial outlook.
Thoroughly research the Riohacha location with a special emphasis on fringe areas outside the main Riohacha metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Riohacha.
Ensure that your target investment property in Riohacha appeals to professionals. This is a demographic that ensures maximum income and low voids.
Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent such as Physis Realty with local knowledge and experience of property legislation will give you the best chance of success.
You may think that managing your Riohacha properties yourself is an easy option, but are these savings justifiable when you run into Riohacha red tape? Physis Realty Riohacha office in downtown Riohacha provides you with peace-of-mind and leaves you time to plan your next move in the growing Riohacha buy-to-rent sector.

With our expert guidance, investing in Riohachaprovides the secure knowledge that your money is working harder than it would in a local Riohacha bank and that future generations of your family will be left with substantial capital growth assets.

We are always happy to advise on buying investment property in Riohacha, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Riohacha property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Riohacha

Flipping property in Riohacha

Flipping property is when we advise clients to buy a Riohacha property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Riohacha market has a time to react to the renovation.

The Flipping Strategy in Riohacha

Investment property flipping in Riohacha is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Riohacha real estate investments are sometimes referred to by professionals as ‘distressed’ Riohacha real estate.

What is distressed Riohacha property:

Riohacha property in need of renovation
Riohacha real estate with a change of purpose and use
Oversold Riohacha property
Bank repossessions in Riohacha

Put simply, long term investors in Riohacha purchase the property, renovate it and make it a lot more attractive to potential buyers.

Calculate profit that you make from Riohacha investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Riohacha property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

Experienced property developers in Riohacha use a minimum profit value of 22% when looking at potential Riohacha projects. The reason for this is because there are lots that can go wrong in Riohacha property flipping and working on a potential margin of 22% should still leave a good margin of error.

Luxury Property in Riohacha

For luxury property investors hoping to add a superb property in Riohacha to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

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A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Riohacha, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Riohacha should be entrusted to only the highest-quality agency.

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