I'm looking to buy a home in Sayulita (a neighboring town of Puerto Vallarta). Goal would be a small unit, close to the beach, where I can live a few months and rent out the rest. Prefer something close to turnkey.
Anybody has advice on investing and owning a home in that area, and/or a realtor they can recommend?
I just sent you a referral by private message.
I'm not sure what kind of advice your looking for but it's easier to respond if you have some more precise questions or issues.
I am a broker in Puerto Vallarta Mexico, I was actually up in Sayulita and San Pancho last week showing property to clients. I’d love to answer any questions you may have.
I don't know properties or real estate agents on Sayulita, however, I am a real estate developer in Puerto Vallarta. I'll ask our team of real estate agents to recommend me someone for Sayulita and let you know later.
Kush, I'm an RE investor living in Sayulita. If you would like to connect send me a message.
Rent in Mexico, do not buy. Invest your money somewhere else. Sadly, the political, economic and social situation in that beautiful country is getting worst everyday.
I'm writing this because I still own properties, great properties there and have been liquidating assets before it's too late. The current ruling political party is ruining everything!
@Kush Khandelwal I think Kush wants to buy a property for its own use and not primarily as an investment. And he’s not trying to buy apartment buildings in Mexico City, the kind of assets you told us to own and which, frankly, I’d sell too if I own any. Buying individual properties in holiday destinations with high buyer and rental demand is another story.
BiggerPockets is a community of positive people trying to support each other so I’m not sure what your point is with negative comments. I also own property in Mexico, continue to invest there and totally disagree with your comments. I already explained why in a reaction to a similar reply of yours not long ago so I’m not going to go it again.
Everyone is entitled to their opinion but the proof is in the pudding. You’d expected that prices would have crashed in Mexico’s main holiday destinations because of the pandemic. They haven’t. As confirmed by my contacts on the ground both in the Riviera Maya and Puerto Vallarta - Riviera Maya, Americans have been buying properties have over first there, during a period that’s normally quiet.
@Kush Khandelwal , you and I do not see eye-to-eye when it comes to Mexico. I agree, BP is a great source of advice, knowledge and positive thinking. However, I find it to be my responsibility to warn those who are making a bad judgement and this is clearly the case.
Have you ever had a property taken by the government? My family has. Mexico's government expropriated thousands of acres from my family. Oil producing land that they took in 1938 and became "the People's" property.
I recommend reading a bit about Mexico's history and policy in the past century. Then review the current government's action. I bet you will sell whatever you have.
BTW, I'm typing this post from Cancun, Mexico. It's beautiful!
Finally, we have a logical explanation behind your suggestion that we shouldn't invest in Mexico based on the risk of expropriation by the government. Because it happened to your family, I imagine that you might always have that fear and mistrust, whoever is in charge of the Mexican government. Also, you don't want it to happen to anybody else so you probably want to help people and warn them. As much as I'm sorry for your family's loss, I don't think it should affect my or anybody else's decision whether to invest in Mexico or not.
Indeed, while I don't know about the circumstances of that expropriation, I don't see any reasons for making decisions based on something that happened 82 years ago, unless you were the victim of it. Personally, I don't make decisions based on things that happened that long ago and especially when the circumstances are completely different. The world changes. It would be akin to make an investment decision in the US based on the policies of Franklin D. Roosevelt rather than those of Donald Trump or Joe Biden. The political party currently in power in Mexico didn't even exist back then.
We however have to recognize that there have been some expropriations in Mexico in more recent times (like in any country), aside from those that are drug-related and that you mentioned in a previous post. Indeed, in order to save money, some foreigners (and probably Mexicans too) buy property under an ejido property title. This isn't a clean title and (unaware) people who buy a property with this kind of title take the risk of expropriation.
The reality is that there are absolutely no rational reasons for the Mexican government to expropriate (vacation) properties belonging to foreigners who bought with a clean title. Yet, governments have been known to do things that appear irrational at times. In this case however, it'd be total political and economical suicide for Mexico given the billions of dollars of foreign direct investment from the US and Canada into Mexico and the dependance of the Mexican economy on its USMCA partners. Even leftist president Obrador has been navigating its relationship with the US government very prudently.
I'll finally agree with you that Cancun and the Riviera Maya in general is a beautiful place. This is why it remains one of the world's most popular tourism hotspots. And that's what makes investing in real estate in the area potentially very profitable indeed.