All Forum Posts by: Benjamin Canyon

Hey @Arwin - Curious if you ended up investing in Tulum. I own several vacation rentals there and also have a property management company there.

There are definitely some risks in the market there that are good to be aware of:

1. There's a lot of new construction, which can make resale of your unit challenging if you want to offload it in a few years. Would you rather buy a property that's 3-5 years old, or a brand new presale for more or less the same price? Most ppl opt for the presale.

2. Supply may be outpacing demand, particularly for certain types of units. Take a look at Airdna to see number of studios compared to 1 bedrooms compared to 2 bedrooms. Depending on price, studios or 1-bedrooms can still get you a good return, but I suggest focusing on 4+ bedroom units and having a really special design to stand out in the market.

All this said, there's incredible opportunity in Tulum for a high ROI from the kind of cash flow only vacation rentals can offer.

Let me know if I can answer any other questions for you!

Originally posted by @Dimitris Vainas:

Originally posted by @Benjamin Canyon:

Hey there - we are looking to invest in a couple vacation rental properties in Athens as part of the Greek Golden Visa program. Curious what your thoughts are on short and long-term appreciation for properties in Athens? 

Hi Benjamin!

I'm not an expert in Athens to be honest.

But I'd look mostly into areas close to the metro (underground) stations, and also into the high end areas... With the golden visa minimum investment you can get a quite luxurious apartment/home in most cases.

 Also I'd look a bit outside the center, closer to the beach, like Porto Rafti.

Let me know if you move forward with this, I'd love to help out in any way that I can, even as a translator. :)

Thank you so much! We've decided to hold off for now until it's clearer what the economy looks like later this year.

Hey there - we are looking to invest in a couple vacation rental properties in Athens as part of the Greek Golden Visa program. Curious what your thoughts are on short and long-term appreciation for properties in Athens? 

@Mike Lambert Thanks so much for your response. Ok that makes sense and aligns with my thinking. Take the cashflow and use it for other things now. 

Looking forward to connecting re Mexico! 

@Brent Coombs Thanks so much for the reply. A little more context: the property is in Mexico where mortgage rates start around 10% and I can't get financing from US banks for an overseas property. So private money is my best option. I own a property in phase 1 of the same development and am confident about the rental returns based on our historic performance, even during COVID. We're also getting the pre-sale property at a great discount from the developer so it'll be worth at least +50,000k after delivery. I double checked the cash flow... it would be essentially break even. Some months I'd be +$100. Other months I'd be $-100. So I feel confident in the investment itself and it's a known quantity in terms of the returns, the developer, and the fact I have a solid property manager in place already. So my question is really about how to structure the loan as I haven't done private money loans before...

I'm buying a vacation rental property and have a private funder who will loan me the money at 5% for 10 years. He's flexible on payment terms so it's on me to suggest something. Monthly P&I payments amortized over 10 years would likely give the property a negative cashflow. So I've considered suggesting interest-only payments then a balloon payment at the end of the 10 years. Is that definitely the way to go or is there an argument for paying off some of the loan as I go along, say $10k a year or more? 5% seems like a good enough rate that I'm not sure if I have incentive to pay down the loan before the balloon. Curious what others think...