All Forum Posts by: Lisette S.

@Mark Mendoza

Hi Mark,

We bought a villa at a beachfront resort- it’s a 8-10 minute walk to downtown. It’s one of the oldest resorts, but well kept and managed- history and stability was important for us- as well as location. We Airbnb it started in Oct and so far it’s been busy and seems to be getting busier as we enter the warm season. We have to block ahead of time so that we can enjoy the place too. I’m a Superhost on that- we have people on the ground with maintenance, cleaning, security is fantastic . It’s been a good experience so far. I am estimating 8% ROÍ by end of year.

My parents bought in Rosarito when it was just a dirt road with little shops and stops. I mainly bought it so that my parents can have less to manage and go to at a resort- less steps, maintenance as they age etc. My husband is a realtor and works The área with a very reliable lawyer which is essentially what you need. I also manage a few Airbnb in the resort for other owners and it’s been great so far.

We have also just purchased land in El Valle de Guadalupe to build in the middle of the corazón of the Valle. We love wine and food- the place is just taking off and hope to build a few cabins and a home for us. El Valle has been listed in well known wine hubs as a place to go and it’s just getting started. Give Mexicans wine grapes and they break all the rules that European wines place on their grapes- mixing certain wines is prohibited in Europe, but in Mexico it’s an opportunity for creativity. Europeans starting their wineries in the area as well. And wow! Mexico is just starting to get into wine as a whole, the growing middle class etc. I see growth and potential.

People that tell you it’s dangerous may be hanging with the wrong crowd, or involved with different circles or stuck in some time warp. Don’t get me wrong- we are aware and vigilant like in California, but people saying some things it’s just weird. I wouldn’t go into some places in California but I don’t blanket it as all of California. Baja is beautiful and just driving down the coast takes me back to California in the 70s.

Just my POV

@Mike Lambert-yes! that is exactly right- we bought within the 50 miles of coast and border which is why I had that in my head.  Places like San Miguel de Allende are awaesome places to consider for avoiding that Trust issue near coast and border. Luckily I have dual citizenship so I didn't have to worry about this where we bought. 

@Francesca Ciaudano

Aww Georgia - familiar through their awesome food in Eastern Europe.  I see so much potential in Eastern Europe. I think you best deals in many countries developing is word of mouth.  If you have a reliable lead- go for it. But make sure you know what is best needed for real estate in that country.  For example- in Mexico you can either go or not go with real estate agent, but you def need an attorney, a notary (which is not like a notary in the US- they are lawyers and do the title clearance etc. So I would figure out from someone reliable there what you need to make this transaction happen?  Are you a citizen of Georgia?  Be aware of your status buying in a country. If you are not a citizen different rules may apply.  For example: in Mexico you can buy as a foreigner, but under a trust etc. So be aware of that.  My biggest is don't pay until all is clear and done.  Go in clear and knowing, don't rush. Know your process. 

Hi Josh, 

This is what we are looking at for our next move.  Renovating from afar would be the challenge for us.  Or you can do 2 250K investments with time to save for the DP and costs. We are in contact with loan brokers that offer 80% loans at about 1.5% interest.  

@Francesca I think what you are asking is very broad. Where r u looking to buy? Different processes for different countries.

@Julio Solano I just did it and am in process for Airbnb - if you have any questions let me know- I have learned much.

Just a passerby here- observing what is happening here in OC and LA mostly. My partner is an active realtor from LA, OC to Ventura counties. Markets vary big area to area. A general sense - i see prices leveling, not decreasing just yet/ or maybe in a while? I have seen low inventory which is why homes are pricing yoy for more. However, buyers are willing to pay only so much and negotiate for lower prices than listed. It's as if people know thing are stabilizing And something MAY be coming to correct but are wary overall- but people are buying. They are not willing to get all crazy and over pay this year? Lower priced homes in general are selling very quickly though. By lower prices I mean below 550-600k- If they are priced right- where CMA can substantiate price. Most are not being priced right from what I see- it's like realtors are over pricing huge expecting huge jumps yoy, but this year buyers are more wary. Not drinking the Kool aid maybe? Always nice to see continual upticks- stabilizing rather than down swing seems more accurate (at the moment) given low inventory in general, but but it's honestly all good. Ready for anything to come!

You never know- if it wasn't disclosed in the first 7 days then she could have had an out if the city had an issue with the 2nd unit- and she could have recourse to not move forward if for whatever reason the permit for the door was not okay. Agents will typically dig into this, especially if you are buying in a city that requires a pre-inspection for a sale.  You do not want to purchase something that is not permitted and have the city come and say this is unpermitted and you need to take it down- I have seen that done.  I'm not sure about the specific house.  The 2nd unit could have been grandfathered in- but always collect all permits with the city on a purchase with a 2nd unit on a single family residence- you want to make sure it is legal- it just gets sticky when if your city is one of those pre-inspection cities and the unit is not permitted. Sounds like it is resolved though, but she should have gotten that info much earlier- for whatever reason she didn't.  But you realtor is key to asking helping you with due diligence and knowing the issues on units like this. 

Agreed with @Brandon Battle- her agent should also be guiding this process and don't sign- don't allow her to be bullied.  They have much more to lose than her.

@Vee Vu- hope your friend's issue was answered.  You need to be careful with this- in 7 days at the beginning of escrow the seller should have disclosed all- if it was not disclosed and was advertised as such it is an issue- It all depends on what was disclosed and what your friend signed off on.  The key is did she know what she was buying and did they disclose this within the 7 days?  Also is it past her 17 days to remove contingencies? Did she sign off on contingencies already? Honestly, I am not a realtor, but I have seen similar moves because my partner is a realtor and it is bad out there.  PM me if you need a reputable person that can answer any questions or direct her in a corrective path-if needed- we hate to see these things happen.