Help! Is investing in the Playa Del Carmen area good for rentals?
Hi, I'm seriously considering buying a Condominium in the Riviera Maya part of Mexic)(Playa Del Carmen to be more specific and I'm wondering if anyone out there has had any success with vacation rentals there? My budget is $175,000 USD for a 2 bed 2 bath unit or larger somewhere within walking distance to the beach and close to 5th ave/downtown area? This home will be a vacation rental that I occasionally use. I would like to achieve at least 75% occupancy and I'm not sure if this is realistic? I could even go a little North or South of Playa Del Carmen if it will still rent well and if it's a better value. I know Playa Del Carmen is booming now but I still would like to get in on it before the real estate is too high for me to afford. If anyone who owns any rental properties from Cancun down to Tulum is reading this I would love to hear your feedback/advice on buying down here in this area. I currently have a vacation rental in Tucson, Az that I will be selling to pay for this rental home in Mexico. Thanks