BiggerPockets

Anyone do this? Is there a site or forum that can supply more info?

I been thinking it would be an interesting investment. Huge potential also good chance a war breaks out and I lose all my money.

I am really just curious at this point.

I've started to look at these markets as well. Especially resort destinations in Mexico. People are so scared to go down there right now that prices have plummeted. Scared American sellers are very motivated and own most of these places free and clear. I speak fluent Spanish, so I think this would help with negotiations, potential rehab, etc.

Of course each country has its own laws pertaining to ownership of beachfront property. I believe in Costa Rica they have some sort of protections against building right on the beach. Mexico has a bank trust that you buy ownership through.

It seems to me that with all the current hysteria about drug violence, etc, that swooping in and buying at a low could be a long term money maker. Warren Buffett once said something to the effect of "buy when people are scared"

As far as developing land, thats an even bigger animal. I would think that you would need somebody down there full time that you could trust. I would imagine there are several local loopholes you would need to get through to begin building.

Anyway, it seems to me that prices, and the perception of these places has nowhere to go but up at this point. Just my two cents...

I agree and disagree with some of the posts above. I've owned condos on the Cancun beach (hotel zone) for over 30 years. I have first hand knowledge.

Grant- There is enough trouble owning in a SECOND world country, I'd never consider a 3rd world location (and I've been to many of them)

Corrie- I checked out CR 20 years ago and felt it was too late then. I was seeing golf course lots for same price as here!

Ben S- I have 5 condos in Cancun. I've accepted an offer on one of my penthouse units and scheduled to close on the 28th. You're correct. I accepted 40K less than one I sold 5 years ago.They have been cash cows with great rents- up until the last couple years. I don't work them as hard as I did either. I still feel there are some great deals available and know of units for sale right in Hotel Zone of Cancun for as little as 85K fully furnished.

Dave-Most of the shared hotel/condo arrangements are bad deals imo. If they have inventory, they'll rent theirs first. They also take 25-50% of your rent. You can rent them yourself by placing them on Home Away or VRBO or something like that. I've always rented mine with a cell phone and a computer. Very easy to do from anywhere in the world. I have handyman and maid on call and keys are provided at front desk. Pretty cool and a few BP members have gone and enjoyed the location.

Mexico is still attached to us and in 35 years, I've never had theft or vandalism- just a couple MAJOR hurricanes. Good luck to all foreign investors. Rich