Buying in Mexico

[sirensong]

Has anyone out there bought a property in Mexico? I'm considering buying a condo or two to rent out. I was thinking of Playa del Carmen, Cabo San Lucas or Puerto Vallarta. Does anyone have a condo in any of those locations? Any suggestions or advice about buying and renting out property in Mexico would be appreciated.

Thanks!

Melissa

 

[dlndavid]

Found this here http://www.transcaribbeantrust.com/index.html
Yes, non-Mexicans can legally own ocean front property in Mexico.
Here is a summary of how it works:

The Mexican Constitution restricts ownership of coastal real estate (31 miles inland from the water) to only Mexicans. To attract foreign investment, the Mexican Government passed into law in 1994 a very important bill which recognizes a Mexican Corporation as the legal entity fulfilling the Constitutional requirement for Mexican ownership. And at the same time, the law allows for non-Mexicans to totally own the Mexican Corporation.


You own your Mexican Corporation.
Your Mexican Corporation owns your ocean front real estate.
You own your ocean front real estate, complete with a legally registered title.
Safe and Simple.

The Mexican Government welcomes foreign investment in Mexico and has made the process very easy. Revenues from foreign investment and tourism are the leading source of income for Mexico.

 

[donooo]

Been there , done that. Don't do it to make money, only for your "entertainment". Now, if you wanted to buy a house, or put together a place to live, or buy a condo that would be available when ever you wanted it, or with friends, that's a little different.

Cabo is expensive, might as well be SoCal. PV and PDC are just fishing villages "gone wild". Little or no infrastructure. I mean would you swim in Banderas Bay ?

My best ideal is real Mexican cities, like Mazatlan or Acapulco or even La Paz. They have tourists, but if all the tourists went away they would still be cities. Better yet, the mountains like Oaxca and Colima and go to the beach for vacation.

Factor in a big vacancy factor for hurricane season.

adios don O

 

[mattmexico]

Has anyone out there bought a property in Mexico? I'm considering buying a condo or two to rent out. I was thinking of Playa del Carmen, Cabo San Lucas or Puerto Vallarta. Does anyone have a condo in any of those locations? Any suggestions or advice about buying and renting out property in Mexico would be appreciated.

Thanks!

Melissa

Easy as a cake walk
Anybody can buy and own propperty in MExico. If it is 50 km within a border or coast you have to 1) open a company and buy the property through with somewhat 2% property tax anually or 2) open a trust fund with a bank $ 500 usd a year and regulated inheritance in case of health problems. To do eitehr way you need to locate a lawyer and is opening a company you need a accountant too to open the company. All no big deal. Facto $ 5000 for the paperwork process and legal counsel fees, maybe a little less.

Matt
www.protecdiving.com