Mexico real estate. Living, retiring and Investing.

Mexico has many things going for it, when I moved here 8 years ago things were slow and 3rd world behind but today its evolving quickly and become a cool place to live in part or full time.

I settled with my family on the South East coast of Mexico for many reasons, the weather, the beaches the warm water of the Caribbean and mostly, the people are slow and easy to live with. My kids now 12 and pushing 20 love the schools and social life and yes they speak Spanish fluently, I on the other hand only speak 30%.

There is so much to do on the East coast and we get over 6 million tourists a year especially when snow is North many will be here escaping the winter or high taxes and expenses.

As a real estate agent I have seen huge development over the last 5 years, to call it a boom is correct but one can still find a new modern home for under $150k close to all modern shopping malls cinemas or the beach.

Living or retiring in Mexico is a great move. Super new hospitals and low medical expenses. Low taxes, low costs, a slower easier pace of life.

Real estate investing does well for many people who see the boom and demand for new homes villas or condos and we still have low costs and land costs. I build both homes and condos for offshore investors and they are happy with double digit returns and no risk. www.primeinvestmentrealty.com

Many Americans, Canadians, Europeans have moved here in the last few years either full or part time as they own a vacation home or villa and rent it out when back North. I lately heard 7 million now in Mexico and increasing with popularity.

For those of you ready to move to a warmer slower pace of life I will be glad to assist with your move if you want a condo home or villa near or on the beach in Paradise.

www.playacondorealty.com

Dave is retired but always active with real estate in this part of the world.

davereinvest@gmail.com

Whenever you mention Mexico, one of the first places that springs to mind is Cancun.

This is hardly surprising, as Cancun has grown over the last few years and is now recognised as a power to be reckoned with in the global marketplace. Cancun has enjoyed considerable investment from a range of sources, including industry and tourism.

As one of the leading cities in Mexico, it is unsurprising that there are plenty of people considering investing in Cancun property. Cancun has also attracted plenty of investors over recent years as, unlike the more remote parts of Mexico, it has a well-developed transport and communications structure, making property in this city less of a perceived risk than other more remote areas.

There is no denying Cancun’s appeal to both tourists and property investors. This region is the place to be for those looking for state of the art facilities and some of the most dynamic nightlife in the country. As well as the modern facilities, there are some stunning beaches that boast unrivalled surfing and other water sports such as sailing and scuba diving.

Cancun is actually an island off the coast of Mexico. However, the substantial bridges connecting the island to the mainland mean that this island is connected at both ends and the links make the area entirely accessible to both permanent residents and tourists.

Investing in property in Cancun is relatively new, particularly as the island only really started to develop in the late 1960s, with tourism really starting to take off in the 1980s. As a tourist destination, Cancun has really boomed in the last five years, causing property prices to grow by nearly 50 percent, in some of the more popular parts of the island.

In fact, the tourist industry in Cancun has grown so rapidly that there is now a widely recognised ‘Hotel Zone’ with more than 20,000 hotel rooms, most of which are fully booked during the high season.

Although hotel rooms are very popular, there is increasing demand for self-catering apartments and quality accommodation for independent travellers. Airlines are becoming aware of the popularity of Mexico and as a result there are now plenty of flight choices for visitors, thus further increasing the popularity of self-catered properties.

Although the self-catered market has grown rapidly, it still centres largely on the beach apartments that are close to the tourist amenities.

New build apartments are generally considered a good investment, with solid capital growth and an ever increasing number of tourists travelling to the region. These trends not only promise good capital growth but also strong rental yields of around 6 to 10 percent, annually.

Apartments are available from as little as 100,000 US dollars, with larger villas available for around 150,000 US dollars.

There is also considerable development opportunity in and around Cancun, with land available at really reasonable prices, allowing more ambitious investors the opportunity to plan and build their own property or even apartment block!

Cancun is very much on the up and is hugely attractive to tourists, worldwide, making this a real property hotspot!

Matt Hudson and three of his buddies were drinking in a bar one night and had the brilliant idea of driving their quads across the border and setting up a business in Mexico renting them. So one Friday they drove across, parked their vehicles on the beach, and put up a sign saying, ?Rentals $25/HOUR?. Business was a little slow at first, so two of them decide to take a ride down the beach. Unfortunately they had been drinking a lot of beer and were not very steady drivers. They rolled over the quads, putting both the vehicles and themselves out of commission. While they were being treated, Matt rented another quad to a guy on the beach, who took off and never came back. The fourth quad was confiscated because Matt and his friends had no corporation and hence no legal status to do business in Mexico. There are several attitudes that cause problems for Americans who are trying to do business or buy Real Estate in Mexico:

1. Party mentality. It should be possible to go on vacation in Mexico and make some money on the side. Not likely. Matt and his friends made the mistake of trying to mix vacation with business. This is an (only slightly) exaggerated situation, but I have met many, many Americans who seem to feel that they are on vacation as soon as they cross the border. This greatly hinders their ability to conduct any sort of business transaction.

2. Greed. Great bargains in Mexico can be picked up likes shells on the beach. Not true. They can be found, but it takes times and effort to make a sound investment. Sara and Jenny had rented a beachfront condo in Mexico for several years. They decide if they could buy one. The owner of the one next door happened to be there one weekend when they were and told them he’d like to sell. The price was right, and they agreed to buy it. Jenny asked when they could meet with a notario to close the transaction. The owner said ?Oh, we don’t have to do that. It cost too much. Just give me the money and I’ll have over the title. That’s how is done in Mexico. Three months later Sara and Jenny Returned and found their condo occupied by another family who claimed to have bought it from the same owner. He had to return to the U.S and could not be located.

3. Ignorance. That’s the way it’s done in Mexico. Not if it’s done right. People who say this are usually trying to cut corners. Buyers should always check the details of proposed transactions or engage a reputable person to check for them. Sara and Jenny gave money for the purchase of property to a complete stranger without an office or an established business. They allowed their greed to overcome their business sense and failed to follow proper procedure or even to find out what to proper procedure was.

Buying property in Mexico.
If you are an American or Canadian wanting to buy property in Mexico, here are some tips for you.

1. When you arrive in Mexico, turn off your vacation attitude and turn on your business brain. You will do better if you aren’t distracted by margaritas and fun.

2. When buying property, do it right. In Mexico foreign individuals can purchase residential property with a bank trust. A Mexican corporation can own property outright, but only for business purpose. These are the only two legal ways of doing it.

3. Get a professional real estate agent to represent you, preferably a member of the Mexican Association of Real Estate Agents.

Author: Aniruddha Badola

We are getting mixed messages from Royal Holiday and it would appear it is no longer their property. The Villas are the only reason we bought and go but we haven’t been able to get a straight answer from anyone. If they are no longer Royal Holiday, we will sell, so does anyone know?