Specifically, investing in real estate in Cabo San Lucas, Puerto Vallarta, or Cancun Mexico. Anyone have any experience in out of country real estate?
What are your thoughts?? Feelings??
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Thank You!!
Interesting because I’ve been looking at Mexico myself. I heard it’s booming. I just blogged about Monterrey.
http://texasrealestate.blogs.com/weblog/2007/04/monterrey_mexic.html
I don’t know if its changed, but it used to be that foreigners couldn’t own real estate in mexico. Of course that doesn’t explain how people retire to cabo san lucas.
You can’t own in your own name, but you can sort of control real estate there. Same thing in Indonesia and some other countries.
http://www.solutionsabroad.com/a_realestatemexico_buyingproperty.asp
Here’s an article that explains the investment boom. http://www.solutionsabroad.com/a_realestate_investment_mexico.asp
This is very interesting and I’d be interested to hear some updates how these investments are going for you…
I develop in Mexico and own a brand name franchise realty office. Mexico is a great place to do business, but do your homework. Keep an open mind, realize that you can do pretty any project you wish, but you need to be careful and compliant with laws and customs.
Get good help, work with good people, and invest time and energy ti understand what needs to be done as well as dependencies, costs, forecast timeline, etc.
Beach property appreciates like magic as does any property in a resort area with decent water views.
Have fun!