BiggerPockets

Jaden, I have a few condos in the best location on Cancun. The Riviera Maya has boomed in the last 10 years. It doesn't surprise me they need an airport. Cancun airport has expanded 5 times in the 35 years I've been an owner there.
Lots of horror stories about clear title on raw land. The second problem is vandalism if you're not in a development with good security.
My bookings have NEVER been so low as now. Three strikes against it
1. H1N1 flu was scary
2. Drug problems in other areas of Mexico
3. Economies here and there
I own mine free and clear so little expense. However, new monster buildings like Bay View Grand and Porto Fino have caused a surplus of rentals and owners there are having trouble paying mortgage and HOA fees.
I love the area, but not for rookies, imo. Rich--headed for Cancun next tuesday.

Hello Jaden,

I live in Playa del Carmen and have also been very involved in the real estate industry here in Mexico for many years. The reason I became involved and the reason I continue with incredible excitement in this industry here, are the subjects you mention above.

a) the growing amount of non-Mexicans coming to vacation here
b) the amount of savings potential that can be realized by living south of the border.

although we are getting beat up by the press on many occassions such as the drug wars and travelers advisories. ( I was speaking to some people from Texas yesterday .... we were joking that some Expats were canceling a trip to Orlando Disney World because we read in the newspaper that there was a drive by shooting in ....... Los Angeles )

there are various obstacles that Mexico does need to overcome, but the potential for appreciation is also .... very strong.

Our web site and our group follows the airport and other factors that influence the real estate market...
Hello Jaden,

I live in Playa del Carmen and have also been very involved in the real estate industry here in Mexico for many years. The reason I became involved and the reason I continue with incredible excitement in this industry here, are the subjects you mention above.

a) the growing amount of non-Mexicans coming to vacation here
b) the amount of savings potential that can be realized by living south of the border.



there are various obstacles that Mexico does need to overcome, but the potential for appreciation is also .... very strong.

Our web site and our group follows the new airport and other factors that influence the real estate market in the region and various parts of Mexico...

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would love to chat more with you!

cheers

Thomas Lloyd

Rich,

You mentioned owners having trouble paying mortgage and HOA fees. Are there opportunities to buy distressed or foreclosed properties at good discounts?

Is this a good time to invest if a small mortgage would be carried (50% or less LTV)?

I'm looking for a place that we can vacation at and deduct trip expenses. I'm also looking for low cost (<150K), rent to cover a 50% LTV mortgage, scarcity (ocean-view or beachfront) and long-term appreciation potential. Let me know if you think these things exist in Cancun or Riviera Maya, or if I should be looking elsewhere.

I really like the fact that I can fly to Cancun in 4 hours non-stop for less than $300. That really opens up a lot of possibilities (such as working from Cancun).

Hello Rich,

Sorry for late response. Busy mondays!

In regards to your notes....there was no cut and paste...Sunday morning, I was running to church with family so I was running....appears I did not capture correctly. Still catching onto this format at BIGGER POCKETS... not sure how the gadgets work. (ouch).

Rich, I DO wish to be taken seriously......
and NO, I am not involved with TIME SHARES. ha ha.

I think there is a profile here at Bigger Pockets to see the background of people who SHARE information or wish to share their opinions. I might be mistaken as I am still learning the functions on this forum. Another thing I usually do is GOOGLE people to get background info.

Google (Thomas Lloyd Mexico)
or (Thomas Lloyd Cancun)
(Thomas Lloyd Riviera Maya)
The first 4 pages on GOOGLE RESULTS will give a little background of myself and our team down here. WE ARE SERIOUS and take investments down here in Mexico quite seriously. Thus my invite to research our background (this is not advertising)

PROPERTY TITLES are usually researched by Stewart Title. In fact, I am just getting back from a Monday meeting with them (Ivan and Gabin) on several closings that my office has on the books with them. But FIRST AMERICAN is another US title company with offices here in Riviera Maya. They opened about 10 months ago. We do extensive business with both....usually escrow accounts more than insurance.

on my profile I think I have posted that I am a member of AMPI, (just voted the Broker of the year for 2009 and 2010) also on the realtor board of Honor and Justice.

I am also the first person in Mexico to obtain Cedula Profesional this past august 2009(only 44 people in Mexico have this title). Which is a Mexico real estate degree and Professional Identification number approved by SEP (Secretary of Public Education).

Rich, thanks for your invite, I would love the chance to meet you in person! Are you in Cancun or in Puerto Aventuras?

cheers !

Thomas Lloyd

Thomas- you coming Cancun way in the next 5 days? I'll try to contact you some other way than PM. Not colleagues. Rich

Has this had any effect on RE prices yet?

-Jaden

Hello Jaden and anyone following Tulum Airport updates..

our man down in Tulum just called this week to give me a heads up. Not sure what the announcement will be but thought you might have an interest...

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