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Posted on 7/22/22 at 11:07 am to TheOcean
quote:
Mexico allows financing to foreigners for non construction properties
Honest question, if you finance in latin america and everything tanks to the point your home is worth considerably less then what is your financial play?
Call me crazy, but I'm not sure I'm going to bankrupt a property I'm underwater on in Cancun or Brazil. I'm not sure I trust the latin American bankers with people that owe them $100,000.
Seems to me your best bet is find a place you can pay cash, has a ton of upside, and any downside is water off your back?
Posted on 7/22/22 at 11:45 am to LSUOFFSHORE
My wife and I were looking at properties in Aruba. Lowest crime rate in the Caribbean. Beach front with a small golf course with the idea being that rentals would likely attract older folks who wouldn't trash the place.
Posted on 7/22/22 at 12:58 pm to Auburn1968
quote:
Beach front with a small golf course with the idea being that rentals would likely attract older folks who wouldn't trash the place.
That may be, I've never been and don't know. But I'll tell you concentrating on someone like "retiree's" for a vacation rental would generally be a poor business plan in my experience as they are cheap as frick.
A vacation rental is going to have some bad guests, sometimes you'd never guess who they are they just wanted to get away and not clean up. Other times, sure don't cater to college students looking to party.
But in order to rent well for a decent ROI and occupancy, you want to rent to the type of person that is willing to pay.
Posted on 7/22/22 at 1:10 pm to baldona
Friend recently purchased a second home in Aruba. Lots of hurdles, much easier if you establish residency.
Posted on 7/22/22 at 1:31 pm to LSUOFFSHORE
Peurto Vallarta
Posted on 7/22/22 at 2:11 pm to I Love Bama
quote:
I'm intrigued what you have found out about Aruba
One good thing about Aruba is they are out of the hurricane band
Posted on 7/22/22 at 5:27 pm to baldona
None of these overseas investments would kill us if shite hit the fan. They're also not full investments since we're going to use them a vacation spot too.
Not sure where you live but I can get to Mexico in 2 and a half hours at ~250 RT and Medellin in 6 at about the same
Not sure where you live but I can get to Mexico in 2 and a half hours at ~250 RT and Medellin in 6 at about the same
Posted on 7/22/22 at 6:45 pm to LSUOFFSHORE
Spain?
I think most of the Latin america market is pretty saturated.
I think most of the Latin america market is pretty saturated.
Posted on 7/22/22 at 7:00 pm to I Love Bama
Chile
Posted on 7/22/22 at 7:24 pm to TheOcean
quote:
Not sure where you live but I can get to Mexico in 2 and a half hours at ~250 RT and Medellin in 6 at about the same
Air time, sure.
ETA: that’s also around the airlines. I’m not suggesting orange beach, but let’s say it’s 4 hours and Mexico is 4 hour flight. Over time, it’s a hell of a lot easier to routinely get to OB in 4 hours then fly to Latin America. Again, not a major issue but to me it may get old.
And yes if you live in a place with directs that matters.
But door to door gets old, if it’s more than 4 hours and you want to go 4-5 times plus a year around a work schedule. If you are retired or work from home or whatever and can go for 10+ days that different.
Again, not saying it’s the most important factor but just something to consider.
This post was edited on 7/22/22 at 7:33 pm
Posted on 7/22/22 at 8:11 pm to TheOcean
You gonna rent this pad out to fellow TDers? I'd take a week.
Posted on 7/22/22 at 10:46 pm to DallasTiger11
I had been thinking of buying in Central or South America but the political volatility worries me too. My stepsister’s husband owns a hotel and house in Nicaragua that seemed great 10 years ago but that situation has completely changed. Seems like socialists and dictators are taking over most countries. Mexico, Honduras, El Salvador, and Brazil seem way too dangerous. Seems like the best approach now would be to just rent a place for an extended period instead of buying and potentially losing everything.
Posted on 7/23/22 at 6:41 am to AUCE05
Sure...I'll post some pics once it's done being built. We'll give you the ole TD discount
Posted on 7/24/22 at 9:54 am to TheOcean
If serious, this would be cool no doubt. We have Tulum on the short list in the next 12-18 months.
Posted on 7/24/22 at 5:47 pm to I Love Bama
quote:
Yeah I think $2,000 a month is doable. Just be careful, that area is PACKED with drug using sex tourists who destroy apartments while on vacation. I would try and rent to the digital nomad types. Furnishings look too nice to do random Airbnb stuff. Guys will rent it just to do coke all weekend and bang lots of hookers.
How is $2k month doable just renting to digital nomad types. Most go to South America partly to save money. $2k/rent is higher than most places in the US. Some green types may pay that for their first month in town but then move on to better value properties. That will leave a vacancy problem.
Posted on 7/24/22 at 5:56 pm to SaintsTiger
quote:
How is $2k month doable just renting to digital nomad types. Most go to South America partly to save money. $2k/rent is higher than most places in the US. Some green types may pay that for their first month in town but then move on to better value properties. That will leave a vacancy problem.
Most of the Digital Nomads I am friends with make over $10,000 per month with many pushing 5x that number.
They aren't hanging out in MDE to save money. A dude making 10k a month in MDE is treated like a guy in LA/NYC that is making $50,000 a month.
Don't confuse backpackers with digital nomads.
Posted on 7/24/22 at 6:40 pm to I Love Bama
Think your sample might be skewed. I know a ton of digital nomads and actually was one for a couple years. The vast majority don’t make $10k/month. The Medellin digital nomad & expat FB groups have a lot of people complaining about price gouging when an “expensive “ rental pops up. Then several examples of much lower priced ones in good areas are mentioned.
I’m actually looking to buy in MDE. Not banking on above market $2k/month rental returns lasting forever in the select few that are getting it now. Besides, Digital nomads by definition leave every month or so there is an inherent amount of turnover which can lead to vacancies. If the rumors that AirBnB restrictions being tightened by the government materialize, then there will be an increased supply of medium and long term rentals to compete with, lowering prices.
I’m actually looking to buy in MDE. Not banking on above market $2k/month rental returns lasting forever in the select few that are getting it now. Besides, Digital nomads by definition leave every month or so there is an inherent amount of turnover which can lead to vacancies. If the rumors that AirBnB restrictions being tightened by the government materialize, then there will be an increased supply of medium and long term rentals to compete with, lowering prices.
Posted on 7/24/22 at 7:58 pm to SaintsTiger
quote:
If the rumors that AirBnB restrictions being tightened by the government materialize, then there will be an increased supply of medium and long term rentals to compete with, lowering prices.
Are you talking about in Columbia? Or elsewhere?
Posted on 7/24/22 at 8:48 pm to TigeRoots
Hah, very serious. It's right next to the main strip. Four beds, three baths, three pools, and two balconies on both buildings. Plan on buying some ATVs to easily get to the beach. I'll post pictures once it's done
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