Cashing In On a Second Home in Mexico: How to Buy, Rent and Profit from Property South of the Border
Описание книги
After nearly a decade of work in Mexico insuring real estate properties to foreign purchasers, the same issues always seem to surface regarding second home acquisitions:<br>"If I buy a house in Mexico, don't I get a 99-year lease from the government?"<br><br>"I understand that I can buy a residence in Mexico only if the title is vested in a Mexican corporation."<br>"I didn't think Americans could own Mexican beachfront properties." <br><br>All of these suppositions are incorrect. This book attempts to help clarify and explain why Mexican real estate, when using the proper safeguards, can be a terrific, secure investment. It will also explore the purchasing mistakes of the past, summarize several of the attractive new locations that are luring foreign dollars and explain why Mexico is so eager to welcome second home buyers from outside its borders.<br><br>The worst thing a potential purchaser can do is to remain ignorant of the law and procedures involved in the conveyance of real estate in a foreign country. As we state several times in this book, Mexico is not the perceived "Wild West" where anything goes and the prevailing Mexican attitude is "trust me, no problema." It is inherently important for non-Mexican buyers to understand that Mexico has formality of law with authorized regulation of real estate development procedures at all levels. This process is coupled with a statutory government framework for the legal conveyance of real property.<br><br>Great personal wealth has been attained through real estate ownership, but for most of us, it has been limited to investment in a primary residence. Although Mexican real estate also can be a viable investment venue, Americans have had a great deal more trepidation considering properties "south of the border." And for good reason—considering the history of some acquisitions. <br><br>Given today's investment climate, however, Mexico provides an attractive, alternative arena for potential investment. Real estate in Mexico should have a similar appreciation "upside" as does real estate in a U.S. development—coupled with the advantage of use and enjoyment of the property as a vacation residence.
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Tom Kelly. Cashing In On a Second Home in Mexico: How to Buy, Rent and Profit from Property South of the Border
Introduction—The Mexican Getaway
Part I—The Variety of Second Home Options. Chapter 1—Top 10 Locations That Will Appreciate Over Time
Chapter 2—Safe Avenues for Acquiring Your Dream Location
Chapter 3—Clarifying the Deal: More Than No Problema Promises
Chapter 4—Understanding the Nuances of Ejido Land
Chapter 5—Sharing the Stories of People and Places
Part II—Preparation, Planning and Renting Strategies. Chapter 6—Make Sure Your Dream Meets Up With Reality
Chapter 7—Key to Your Profit Center: Finding the Right Path
Chapter 8—Critical Choice: Tips on Selecting a Location
Chapter 9—Strategies to Find—and Keep—Good Renters
Chapter 10—Checking Out the Parcel for Purchase
Chapter 11—Third-Party Escrow Is a Wise, Efficient Option
Chapter 12—The Strongest Link to a Peaceful Mind
Chapter 13—Working North-South Models
Part III –The Money Picture: Exploring Mortgages and Tax Ramifications. Chapter 14—The Status of Residential Financing in Mexico
Chapter 15—Six Solutions to Funding a Second Home in Mexico
Chapter 16—Mexico Offers an Investment Alternative
Chapter 17—Understanding Tax: What to Expect From Uncle Sam
Conclusion—Pondering the Exit: If you buy, will you be able to sell?
Отрывок из книги
Why a longtime lure is finally garnering second homebuyers
The growth and popularity of Mexico’s real estate industry has absolutely exploded compared to a decade ago when it appeared to be on a fast track to implosion. What went right? Did the enormous group of U.S. baby boomers simply return to their old spring-break haunts and begin buying beachfront memories? When did it turn the corner? Was it with the turnaround of the peso in 1996?
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• FONATUR, the tourism agency of Mexico, has increased its efforts to promote and enhance the investment of real estate acquisitions by foreigners in the Republic of Mexico.
• The creation of the Mexican Association of Real Estate Professionals (AMPI) and MultiListAssociations in the markets of Cabo, Peñasco, Vallarta, Nayarit, La Paz, San Miguel and the Riveria Maya is helping to promote higher levels of professionalism and service in Mexican real estate markets.
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