| Investing in Coastal Mexico |
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vondutchess
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 22 Sep 2006
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| Investing in Coastal Mexico |
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Hi All -
I'm a newbie here, so go lightly. My husband and I would like to invest in Coastal Mexico...we already own one vacation home in the states and would like to branch out. Ideally, we are hoping to open a surf school/hostel for our income...but that might be a long time coming. I was hoping that someone has purchased a vacation home in Mexico that could share some insight. I'm looking for something newer, in an area where there is good surf, and I can find a decent property manager. The goal then would be to get another place or a place we could live in and start a biz while renting the 1st property...any tips, thoughts, ideas? Anyone else start a biz in mexico? 
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Fri Sep 22, 2006 5:58 pm |
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MidshoreMoney.com
Member
Cash: $ 4.15
Posts: 20
Joined: 10 Feb 2007
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I also heard that foreigners can't own property in Mexico...it technically belongs to the bank of something. But an option for you would be to look for interested investors, either Mexican, people already investing in Mexico, or knowledgeable foreigners. If you do the legwork, have drive, and know what you're talking about, there's usually someone who'll back you financially.
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Sun Feb 11, 2007 5:14 pm |
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LandCapitol4retirement
New Member
Cash: $ 0.60
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Joined: 14 Aug 2007
Location: California
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| Mexico is dangerous to own a piece of |
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It takes ten years to earn the right to own property in Mexico. After that you face corruption from those who want to take your property away from you. I know a man who was a builder there. He lived there for ten years to earn the right to do it. He was arrested a number of times on charges from everything petty up to murder. He finally gave up and moved back to the states. I think your better off with Timeshares in Mexico if you want to spend time there.
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Tue Aug 14, 2007 9:00 pm |
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feodog
New Member
Cash: $ 1.70
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Joined: 06 Jan 2008
Location: california
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There is a lot of corruption in Mexico and there has been a lot of dreams broken but the Mexican government has been actively trying to change is its in their benifit to have American dollars coming in.
You don't need to hook up with a national for this type of business and you can protect yoursel by using Stewart Title company, You'll spend an extra $2K but you'll be able to sleep at night.
Note; I bought some land near Rosarito on the Beach side of the highway. Beach front is different as all of it is considered Federal government property which you could lease but not buy. Only impact about 100 to 200 meters from the water line.
Hope this helps.
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Sun Jan 06, 2008 3:40 am |
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donnaparker2
Member
Cash: $ 3.10
Posts: 15
Joined: 17 Jan 2008
Location: dallas
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What About Panama ?? Panama's economy is raising really quick , and you don't have to wait 10 years to own a piece of land.....plus that it's a no tax heaven......i went there with my husband last year and the prices for land were really small , depending on how close to the beach they were....
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Thu Jan 17, 2008 8:46 am |
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fred333
Member
Cash: $ 3.85
Posts: 19
Joined: 07 Feb 2008
Location: USA
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I think it all depends on how far down you want to go in South America. Each country has its good and bad when it comes to real estate.
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Fri Feb 15, 2008 3:14 pm |
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billaaa777
Member
Cash: $ 2.80
Posts: 14
Joined: 05 Sep 2008
Location: Pattaya Thailand
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I am not going to get into this to much. But, I like your idea. Some many people that have never left the states think the rest of the world does not exist or is like some wild place to be avoided at all cost.
I am a CPA from Miami and now I live in Pattaya Thailand, an international resort tourist destination with visitors from all over the world coming for vacations and retirement.
I started buying condos three years with the idea of buying, renovating and selling them. I was pretty worried when I began, I fixed my own homes back in the states but never gutted a condo and did a full renovation job.
To make a long story short, I sold my first condo 2 weeks after I finished and made $20,000 off a $55,000 investment. Now I am at well over 20 condos in three years with ROI over 100%.
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Fri Sep 05, 2008 4:26 pm |
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Offshore-Wealth.com
Senior Member
Cash: $ 14.80
Posts: 601
Joined: 20 Jul 2005
Location: FREEDOMLAND
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| Re: Investing in Coastal Mexico |
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quote:
Originally posted by vondutchess
Hi All -
I'm a newbie here, so go lightly. My husband and I would like to invest in Coastal Mexico...we already own one vacation home in the states and would like to branch out. Ideally, we are hoping to open a surf school/hostel for our income...but that might be a long time coming. I was hoping that someone has purchased a vacation home in Mexico that could share some insight. I'm looking for something newer, in an area where there is good surf, and I can find a decent property manager. The goal then would be to get another place or a place we could live in and start a biz while renting the 1st property...any tips, thoughts, ideas? Anyone else start a biz in mexico?
Good question,
Foreigners are forbidden to own land outright only along the coasts and border areas-- it's considered a national security kind of thing. The "restricted zone" encompasses all land located within 100 kilometers (about 62 miles) of any Mexican border, and within 50 kilometers (about 31 miles) of any Mexican coastline. In those areas you need to get a bank trust, called a fideicomiso. A real estate trust is not a lease. The beneficiary can instruct the bank to sell or lease the property at any time. The beneficiary can develop and use the property to his liking and benefit, within the provisions of the law.
Under this arrangement, the beneficiary has a contractual right under the trust agreement with the Mexican bank to all benefits that may result from the use or sale of that property, even though he does not hold title to the property. Under Mexican Law, the bank, as trustee, has a fiduciary obligation to respect the rights of the beneficiary. You can sell it, rent it, will it to the kids, etc., just as if you owned it. At the end of the trust period, you can renew it.
Anywhere else in Mexico foreigners can own land outright, just like Mexican citizens do.
You must always do your homework, though, regardless of the method of owning. There are real estate fraudsters in Mexico just as there are in the USA-- and unfortunately a lot of them are Americans.
Success to all, Mike
FREE PAY IT FORWARD OPPORTUNITIES
http://ENVIROPURELIGHT.com
http://FREE100KSECRET.com
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Sat Nov 15, 2008 12:10 am |
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JensynMcCoy
Member
Cash: $ 2.60
Posts: 10
Joined: 25 Aug 2011
Location: United States
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You may want to explore the Progreso area. I own a vacation house in the small fishing village of Chelem, 5200 people, about 5 miles west of Progreso. There is a square with a market, a couple of basic shops, and some restaurants. It is a rustic Mexican town, not touristy at all, and it's beachfront homes are being discovered by expats for the last 3-5 years. You could base yourself in Chelem in a rent house, and explore the area. If you wanted more people nearby, Progreso has about 50,000 people, and more shops and restaurants. I'd chose Chelem and drive into Progreso when you wanted, as it is quaint and real.
Chelem is 30 minutes from Merida, 1 million people, a beautiful city with a large colonial center, surrounded by a modern part with everything from malls with ice skating rinks to Starbucks. Continental flies Merida from Houston, so is basically one stop from most places.
This is still real Mexico.
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Thu Aug 25, 2011 4:25 pm |
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kamralsams
New Member
Cash: $ 1.00
Posts: 3
Joined: 05 Sep 2011
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Mexico is the best and great city to live and settle over here. there are lots of industries as well job opportunities available over there. so it is really beneficial to invest in commercial properties in Mexico to generate more income and high return on investment.
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Mon Sep 05, 2011 1:28 pm |
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