How Colombian bakeries and coffee shops have adapted to the pandemic

The covid-19 pandemic has changed a lot of things across the globe and the countries going into lockdown have witnessed changes that were never seen before. While social distancing became the norm of that time, masks and PPE were essentials that could not be neglected. The lifestyle of people also had a profound impact and this eventually changed the way people were drinking and eating. The restaurant business faced a lot of challenges during this time and this is the reason why it makes a lot of changes for a successful operation of its business. Knowing how Colombian bakeries, breakfast places, and coffee shops have adapted to the pandemic can help you as a customer to determine the preparations it has done to service the customers.

As coffee & pastries are the most popular beverage & bakery item in the world, it was important for the coffee shops and bakeries to adapt to changes that Covid-19 has caused to the way of doing business. There are incredible hurdles these businesses had to face and overcome but they were fortunate enough to serve customers with their best efforts and capabilities. The most significant changes were the reduction of the number of morning commuter traffic as everyone was practicing social distancing.

 This is the reason why bakeries and coffee shops started and invested in increasing manpower for delivering orders to customers who were working from home. The changes in consumer behavior have affected these businesses severely but they did everything that was needed to be present to serve customers during their business hours. The pandemic also saw a change in the opening hours and restrictive regulations due to social distancing which lead to a loss of turnover in these businesses. Coffee shops were the most growing and profitable business before the pandemic but with Covid-19, its revenue saw a decrease of over 50% to 90%.

These businesses had to become agile and innovative to turn their losses into profit and the most innovative way was the introduction of the bottled coffee. It was more convenient to deliver cold coffee when it was packed in bottles and it eventually resulted in a surge of orders from people who preferred staying at home and ordering coffee. The uncertain times during the pandemic has taught bakeries and coffee shops to adapt quickly to the changing market conditions. The addition of different technologies has helped businesses to grow their revenues and make up for their losses caused due to Covid-19. 

They looked for ways to boost the coffee experience of their customers and there were a lot of changes that indicate that they strived to cope with these challenging times. Another problem that was faced by the bakeries was labor shortage but they followed all the social distancing rules and policies for making sure that there were no health risks. Coffee deliveries skyrocketed and coffee shops made sure that their customers were served in the best possible manner. Mecatos Café & Bakery successfully adapted to these changes and had garnered appreciation from customers across all their outlets.

How To Find Good Raw Land?

If you're looking to invest in raw land and build your own dream home or vacation retreat, it can be difficult to navigate the complexities of finding and acquiring the perfect piece of property. With all the different factors that go into selecting a location, from zoning and taxes to soil composition and natural resources, how do you make sure your purchase is a good one? The truth is that there's no one-size-fits-all solution for finding great raw land – but with some practical tips on navigating the real estate landscape effectively, you can ensure that you find opportunities that fulfill all your needs. In this blog post, we'll discuss everything from assessing lot size to researching local building codes so that you can confidently pick out an ideal spot for your next project.

Consider the Location

When considering a property for your project, it's important not to overlook the often overlooked aspect of local land regulations and zoning laws. After all, you don't want to invest time and money into a potential location only to find out later that it's not suitable for what you have in mind. By doing your research upfront and familiarizing yourself with the specific rules of raw land acquisition in the area, you can save yourself a lot of hassle down the line. This means finding out about things like whether the land you're looking at is zoned for residential or commercial use, what construction restrictions may apply, and any other relevant laws that could affect your project. 

Evaluate the Land

It's important to evaluate the land thoroughly to ensure it is a sound investment. Inspecting the topography is crucial as it can greatly impact future construction and maintenance costs. Proper drainage is also essential to avoid potential water damage or erosion. Examining the potential for contamination is also important, as it can greatly affect the land's value and potential use. Taking the time to evaluate these factors can ultimately save you time and money in the long run. As experts in the field once said, Land represents a long-term investment, but one that has the potential for incredible returns.

Determine Accessibility

For any potential land buyer, it's essential to determine the accessibility of the area surrounding the raw land. This means checking whether the roads leading to the land are suitable for traveling and if utilities such as water, electricity, and sewerage are available. After all, it's no use owning a piece of land if you can't access it or have the basic amenities needed to live comfortably on it. Therefore, it's crucial to conduct thorough research into the surrounding area to ensure that it's practical and feasible to build or live on the land. So, make sure you take the time to determine accessibility before making any purchase decisions.

Evaluate Market Value

As someone interested in purchasing raw land, it's crucial to ensure that you're getting a fair deal for the property. Assessing the market value of the land is a key component of making a wise investment. By evaluating market value, you'll be able to compare the asking price with similar properties in the surrounding area and determine if you're getting a good deal or not. Taking this extra step in the buying process can not only save you money but will also give you the confidence to move forward with your purchase knowing you made a well-informed decision. After all, the value of raw land can only go up over time, so it's important to make the right choice from the outset.

Consider Financing Options

For those looking to invest in raw land, financing options can be a critical component of the decision-making process. Traditional loans are one option, but government grants and special tax incentives are also worth considering. It's important to do your research and explore each option thoroughly to determine the best fit for your specific situation. Whether you're a first-time buyer or a seasoned investor, financing can play a significant role in turning your land ownership dreams into a reality. With the right approach and open mindset, you can confidently navigate the financing landscape and make informed decisions that align with your long-term goals.

All in all, preparing to purchase raw land requires careful research and planning. While there are risks involved, the potential benefits associated with successfully developing raw land make the endeavor worthwhile. To ensure a profitable investment, consider the location of the land, evaluate the topography and surrounding ecosystem, determine accessibility, assess the market value, and find suitable financing options. With dedication, precision, and an eye for potential, you can secure your dream plot and create a work of art from it.

What To Keep In Mind When Buying A Second Property

Buying a second property can be a great investment, whether it’s a vacation home, a rental property, or a second home for yourself or family members. However, there are several important things to keep in mind before you make a purchase. In this article, we’ll explore what you should consider when buying a second property.

1. Purpose of the property

Before you start looking for a second property, it’s important to determine the purpose of the property. Are you planning on using it as a vacation home? Will it be a rental property? Or will it be a second home for you or your family members? Understanding the purpose of the property will help you determine the location, size, and features you need.

2. Location

Location is key when it comes to buying a second property. If you’re buying a vacation home, you’ll want to consider a location that’s easily accessible and has plenty of tourist attractions. If you’re buying a rental property, you’ll want to consider a location that’s in high demand and has a low vacancy rate. If you’re buying a second home for yourself or your family members, you’ll want to consider a location that’s convenient and suits your lifestyle.

3. Market conditions

It’s important to consider market conditions when buying a second property. Research the local real estate market through top realtors to determine if it’s a buyer’s or seller’s market. A buyer’s market means there are more properties available for sale than buyers, which can lead to better negotiating power and potentially lower prices. A seller’s market means there are more buyers than properties available for sale, which can lead to higher prices and potential bidding wars. Understanding market conditions can help you make an informed decision on when to buy and how much to offer.

4. Financing

Financing a second property can be more challenging than financing your primary residence. Lenders may require a higher down payment, higher interest rates, and stricter credit requirements. You’ll want to explore your financing options early in the process and make sure you’re prepared to meet the lender’s requirements.

5. Property management

If you’re buying a rental property or a vacation home, you’ll need to consider property management. Property management can be time-consuming and expensive, especially if you’re not local to the area. You’ll want to explore your options for property management and factor in the costs when considering the return on investment.

6. Taxes

Owning a second property can have tax implications. You’ll want to consult with a tax professional to determine how owning a second property will impact your taxes. You may be able to deduct certain expenses, such as mortgage interest, property taxes, and maintenance expenses, but you’ll need to follow IRS rules and regulations.

7. Insurance

You’ll need to insure your second property, and the type of insurance you need will depend on the purpose of the property. If you’re buying a vacation home, you may need a different type of insurance than if you’re buying a rental property or a second home. You’ll want to explore your insurance options and factor in the costs when considering the return on investment.

8. Maintenance

Owning a second property can be costly when it comes to maintenance. You’ll need to budget for ongoing maintenance expenses, such as lawn care, snow removal, and repairs. You’ll also need to factor in the cost of occasional upgrades, such as new appliances or a new roof.

9. Resale value

You’ll want to consider the resale value of the property. While you may not be thinking about selling the property now, you’ll want to make sure it’s a good investment in the long run. You’ll want to consider the location, the property’s condition, and the potential for appreciation.

10. Legal considerations

There may be legal considerations when buying a second property, especially if you’re purchasing a rental property or vacation home. You’ll want to research local laws and regulations regarding renting out a property, zoning restrictions, and any HOA rules or covenants. It’s also important to have a solid understanding of the legal process for purchasing a property, including contracts, inspections, and closing costs.

11. Personal goals and lifestyle

Finally, it’s important to consider your personal goals and lifestyle when buying a second property. Your personal goals and lifestyle can help you determine the type of property you need. It’s important to align your investment goals with your personal goals and lifestyle to make sure your second property is a good fit for you and your family.

In conclusion, buying a second property can be a great investment, but it’s important to consider several factors before making a purchase. Understanding the purpose of the property, location, financing, property management, taxes, insurance, maintenance, and resale value can help you make an informed decision and maximize your return on investment.

How Real Estate Investors Benefit From Offshore Trusts

Protecting your assets is crucial to your success as a real estate investor. Looking into offshore trusts is a great option and there are several ways you can benefit from them. Primarily, they can provide you with asset protection. This can be gained through offshore real estate investment trusts (REITs) for real estate investors. 

So, if you're worried about losing your assets due to legal disputes or taxes, an offshore trust can provide a solution. Placing your assets in a trust outside your home country can minimize your tax liability and protect your assets from lawsuits.

To know more about how offshore trusts can benefit investors like you, continue reading.

Diversification: Invest In Offshore Properties

Are offshore trusts safe? Yes, they can be safe, especially if you’re planning to have one to diversify your investment portfolio.

Investing in offshore properties can help you diversify your portfolio, reduce risk, and increase returns. You can choose from various properties, such as rental units, vacation homes, and commercial real estate.  These properties can allow you to exploit local market conditions and opportunities.

For example, if Country A is experiencing a surge in tourism and its properties are relatively cheap, you can get one and convert it to a rental or vacation home. Say that you’re in the United Kingdom (U.K.), you may want to acquire a vacation rental unit on a high-end vacation island like Nantucket. Compared to the local properties you may own, this offshore property may provide faster returns. 

And, of course, you and your estate get an offshore vacation property along the way, offering other benefits.

Asset Protection: Protect Your Assets From Lawsuits

Assets outside your home country's jurisdiction are generally protected against lawsuits. This means that your assets are less likely to be seized in the event of a legal dispute or lawsuit. In addition, offshore trusts can protect your assets from creditors, ex-spouses, and other legal threats. This helps guarantee that your trust will be given to the rightful recipient.

Privacy: Keep Your Personal Information And Assets Secure

Your personal information and assets are less likely to be exposed to the public if you own property abroad. Compared to traditional trusts, offshore trusts offer more privacy and anonymity to a certain extent. This maintains your privacy and protects your financial interests. Yet it's important to note that you'll need to disclose your offshore trust to tax authorities in your home country.

Tax Benefits: Take Advantage Of Lower Tax Rates

Offshore trusts can provide significant tax benefits, such as lower tax rates, deferred tax payments, and tax-free income. This can help you save money and increase your returns. 

Nevertheless, it's essential to consult with a financial advisor or attorney to ensure you comply with all tax laws and regulations. Of course, in addition to consulting, you should do your own research to ensure that the properties won’t come with additional expenses that can offset the savings you’ll get from a lower tax rate.

Estate Planning: Plan For Your Future

Since it’s an offshore trust, it can engage you in planning your estate and ensuring your assets are distributed according to your wishes. You can use an offshore trust to pass on your assets to your heirs, reduce estate taxes, and avoid probate. This leads to providing financial security for your loved ones in the future.

Currency Diversification: Protect Yourself From Currency Fluctuations

Investing in offshore properties that you’ll include in your trust can help you diversify your currency holdings and protect yourself from currency fluctuations. Investing in properties denominated in different countries’ currencies can reduce exposure to exchange rate risks and increase your returns.

Unfortunately, experiencing the full benefit of currency diversification can only happen if you have multiple properties located in different areas around the globe. 

Political Stability: Invest In Stable Jurisdictions

Some offshore jurisdictions offer more political stability and economic freedom than your home country. Investing in properties in these jurisdictions can reduce your exposure to political turmoil and protect your investments.

International Opportunities: Access Global Investment Opportunities

Buying properties abroad is a gateway that can allow you to find international investment opportunities outside your home country. And this is especially true if the trust will keep you traveling in different countries. Investing in offshore properties will enable you to take advantage of local market conditions and opportunities, diversify your portfolio, and increase your returns.

Conclusion

The discussion above lists the different benefits offshore trusts can offer to real estate investors like you. While they may make owning properties outside of your home country highly favorable, you should also be aware of inherent risks that come with offshore trusts. Because of that, consulting a financial advisor or attorney is a must to avoid the pitfalls of offshore trusts abroad.