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Mexico Property; Any Experience out there?
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Nak

Since 19 May 2005
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PostTue Nov 15, 16 8:52 pm    Mexico Property; Any Experience out there? Reply with quote

We're seriously contemplating purchasing a house or condo in Los Barriles. Anyone have experience out there? Our thought is to rent it out to help pay it off and then have our own place when I retire. Stupid? Good idea? Any recommendations for real estate companies and/or management companies? I'm really early in the research part of all this. Any help or advice would be really, really appreciated. Thanks!

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Bettyboarder

Since 18 Mar 2005
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PostTue Nov 15, 16 10:41 pm     Reply with quote

Great idea just make sure you get a sweet guest room for us to visit
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Bill C

Since 15 Sep 2005
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Portland
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PostWed Nov 16, 16 4:53 am     Reply with quote

I have only read home security is critical when unoccupied. If its a stand alone house, chances are, it will be broken into and appliances removed. Some owners have removed appliance doors and stored them offsite to lower incentive.

However, I have no way to verify if true.

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knotwindy

Since 25 Sep 2011
598 Posts

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PostWed Nov 16, 16 6:43 am     Reply with quote

Right now the theft problem seems worse in La Ventana. Most of what I see in Los Barriles is post hurricane in houses on the beachs where people need clothes and kitchen stuff to survive and the beach houses are damaged and low hanging fruit. But it is changing here as well. If you leave an expensive house empty for 9 months, who knows what will happen in a poor area. And the drug problem is slowly moving in/getting worse as well. If you get a reasonable size place in a Mexican neighborhood where there are people around all year, much less of a problem. Renting it out seems fairly easy and there is a management company to help if you want.
If you are not a Mexican citizen you can not own the land/house outright, you will have to get a bank trust(Fidiocomiso?) which is renewable lease for a certain number of years but it is getting harder to find a bank to issue one as the laws about it are about to change. But the laws about this are always about to change but have not yet. So the cost keeps increasing.
Resident temperaro for 4 years gets you a application for Resident Permenente, which after another 4 years gets you an application for citizenship. There are shortcuts through this process if you know who to talk to, of course. And you have the money, this is Mexico and there is always the possibility of speeding things up with an "expediting fee".
And remember, things will take not just 3 times longer than you think but 3 times longer than is humanly possible. Hope some of this is what you looking for and helps a bit.
Also, remember that this is Mexico we are talking about and they can/do change the laws regularly sometimes with retroactive conditions, so there is always the chance you can lose all of your investment st any time for no obvious reason. This is not really retirement investing the way you think of it in the US, it leans a bit more towards gambling. Might work out great but there are more variables involved here.

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Freeride Kiter

Since 08 Jul 2011
698 Posts
Alaska / PNW / Baja
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PostWed Nov 16, 16 7:30 am     Reply with quote

Talk to Wayde Yates - he and his wife own downwinderinn.com in La Ventana / El Sargento, they are from the Portland area. Security is a big deal, they have some locals who take care of their property 7 months out of the year or there about.

There are a lot of folks in LB year round to take care of property - you would want to network and meet people.

Like noted above - it is Mexico and things get political really quick. Case in point is what happened with Tim Hatler - the owner of Palapas Ventana when a local national woman died on his property under questionable conditions.

..and similarly why the La Ventana Classic was "absent" for a few years.

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moondog

Since 15 Aug 2007
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white salmon
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PostWed Nov 16, 16 9:00 am     Reply with quote

I have a place in La Ventana if you want to PM me I will fill you in on the pros and cons.
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moondog

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lewmt

Since 04 Aug 2010
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MT
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PostWed Nov 16, 16 11:56 am     Reply with quote

Another couple of people who are known @ the Gorge & have dual citizenship & winter in Los Barriles are Ian Sanders, Meghan O'Leary of Exotikite. Super nice people and knowledgeable.

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Nak

Since 19 May 2005
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PostWed Nov 16, 16 8:33 pm     Reply with quote

Thanks for all of the advice everybody, especially Moondog who spent 1/2 hour on the phone with me!! Anyone else, more perspectives absolutely appreciated!

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Nak

Since 19 May 2005
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PostThu Nov 17, 16 6:30 pm     Reply with quote

Bettyboarder wrote:
Great idea just make sure you get a sweet guest room for us to visit


That goes without saying Nicole! Very Happy

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A.K.

Since 01 Jul 2006
190 Posts

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PostThu Nov 17, 16 9:22 pm     Reply with quote

I presume you have spent time in both locations in the past. I am curious as to what were the things that lead to your choice of LB over LV.....

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Nak

Since 19 May 2005
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PostFri Nov 18, 16 9:27 am     Reply with quote

Nothing wrong with LV, except that my wife is pretty bored there. More non-wind activities in LB. A lot closer to SJD airport--with non-stop service to PDX. That makes it a lot easier to pop back and forth to PDX. It also makes it a lot easier to pick up family at the airport and drop them back off. More for future grand kids to do when they visit. My wife prefers the vibe to the very wind-sports centric vibe in LV.

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unbob

Since 31 Aug 2008
260 Posts
'da Gorge/LaV
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PostSat Nov 19, 16 5:37 pm    Non-wind activities in LB vs LaV Reply with quote

Nak wrote:
Nothing wrong with LV, except that my wife is pretty bored there. More non-wind activities in LB.
I've spent 10 out the past 13 winters in LaV - windsurfing and then kiting. I thought I had it all here but now find out there's more non-wind activities in LB. Tennis, golf? No, we don't have that here - but in LB? I'd love to see a list of non-wind activities in LB that we don't have in LaV. Anyone?

Granted the SJD airport is much closer and more convenient for LB residents - a huge plus for some folks. And closer to Costco! But we're closer to W-M and Sam's Club. Again, a big deal for some and not so much for others.

Re non-wind activity in LaV - mountain biking. (yes, I know there's mtb in LB too) Singletrack's 'The BEST Mountain Bike Trails in Mexico' currently lists a total of 39 trails in vicinity of La Ventana/El Sargento with 5 trails in the top 10. Not bad. Some serious gung-ho trail builders here for sure!

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eric

Since 13 Jan 2006
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PostSun Nov 20, 16 10:07 am     Reply with quote

Rent a home. See how it feels. Then, either buy, or build your own, or keep renting and let the particulars of foreign ownership be someone else's project. Some very much enjoy the ongoing maintenance/projects/fideicomiso stuff, others burn out on it.

So many folks have built down there, then don't use their home as often as they thought they would. Lots, and lots of homes for rent both privately and through real estate agents. Many homes for sale that have been on the market for 1 to 3 years.

If getting family to and from a place on the East Cape is a prime consideration, I'd think LB before LV. I built and owned a home in LV for 10 years, vacationed there off and on for several years prior to that, and on our limited vacation times picking up and dropping off was a pain from LV once the LAP airport went off-line. I prefer the LV vibe, but LB is much more convenient for extended family when SJD is the only airport option.

My two cents
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letsflykites

Since 11 Mar 2015
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PostSun Nov 20, 16 3:40 pm     Reply with quote

There is so much more to Mexico windsports destinations than LV/LB. Get out there and explore before you buy!

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lubomm

Since 15 Aug 2007
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Hood
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PostSun Nov 20, 16 9:25 pm     Reply with quote

I was in LB at Martin Verdugo resort a while back. A lot of gringos keep their RVs there and Martin parks them off-site in the down season and parks them at the RV park upon request. The risk with this setup is limited and you get beach access. THat the way to go.

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Nak

Since 19 May 2005
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PostMon Nov 21, 16 12:05 pm     Reply with quote

Thanks for all the replies! As far as LV vs LB or other destinations, I really didn't want to get in to that; I mainly just was looking for a thread on the pros, cons and particulars of owning & renting property in Mexico. I love LV too, it's just that when it comes to our whole family LB is a better fit. Different strokes and all that... Very Happy

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bigjohn

Since 13 Mar 2012
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PostMon Nov 21, 16 10:18 pm     Reply with quote

letsflykites wrote:
There is so much more to Mexico windsports destinations than LV/LB. Get out there and explore before you buy!


+1

Buying is a long term commitment. For many it's exactly what they're looking for. Perhaps stability for the whole family as a recurring vacation site... But, there are still lots of spots out there I would like to explore before committing to a particular vacation spot year after year after year... after year...

I do see the value in a long term retirement plan, but I also like to relax while on vacation vs. spending all my time fixing things.

Same thing goes for time shares.... why buy when you can rent for the same price without any long term commitment?

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