All Forum Posts by: Mike Lambert

The Riviera Maya and Playa del Carmen in particular are pretty safe. There are 4 levels of police with a local presence: a special tourist police exclusively for tourists (a unique concept), the municipal police, the state police and the federal police. The army is there too to top it off!

@Anthony B. Thanks! I know financing is the main issue about buying real estate in Mexico. You are correct I get a large discount on the purchase price and the developer financing as part of a special package I have with a few developers and which are not available for the general public (and which I am supposed to keep private). I'm trying to find ways to partner with other investors so that they can benefit from my special arrangement. Otherwise I'm constantly on the lookout for other sources of financing.

@Anthony B. I have bought a condo in Playa del Carmen using some cheaper developer financing for half the price. I'm looking at buying other properties in either Playa or Tulum. I have been in contact with Josh but the problem is that mortgages in Mexico are extremely expensive!

@Allan Rosso Generally we get access to blocks of condos within a project from a local developer. I get some regularly so I can let you know when I get the next one. Also, I'm starting with my own projects, potentially together with some other investors. I'm working on two other types of deals currently but they are still in negotiation so I can tell you about them if and when I get them. Feel free to let me know when you will be going because I will have to go soon too so who knows we might be in town at the same time. 

Hey @Allan Rosso I'm getting 6% but the LTV is only 50% and the term is only 5 years. A friend of mine has personal connections with some developers, whereby I get substantial discount on properties under market value and that financing as part of the package.

The bank's deal is actually a good deal for Mexico, especially given the 90% LTV, the 20-year term and the fixed nature of the interest rate. The yield on 10-year Mexican government is above 10%!

Could you tell me which bank it is and give me the contact details?

Thank you

Mike

@Allan Rosso

I’m investing in Playa del Carmen. Luckily I got exclusive cheap developer financing through my connections. What interest rate did the bank offer? Was the loan going to be in $ or pesos?

Thanks

Mike

Hi everyone,

Thank you for sharing the info. With my business partner, after successfully investing for a few years in Houston and San Antonio, (partly thanks to great relationships with local real estate professionals), we are looking to diversify in the Midland - Odessa market. It's great to see that you have a meetup with so many members. We're looking forward to connect with some of you and maybe partner together or work together in some other capacity.

Have an awesome day!

@Abby Li Congratulations for taking action! I think you're not very demanding in terms of returns. It would make our life very easy as syndicators if all the investors had similar return requirements but we want our investors to make great returns and come back.

I sense that it is important for you to start so you're in the right direction. As you progress and learn more, you will undoubtedly uncover interesting opportunities. You're already more advanced than most by joining BP and starting!

Good luck and let us know if we can help.

Mike

@Tyler Maragh Yes it is certainly helpful thank you. Why would you have to do weekly rentals and can't be more flexible on rental length? City regulations? The idea of doing vacation rentals is that you can make much more money than on long term rentals (providing the vacancy rate is not too high) otherwise it wouldn't be worth the effort!

@Tyler Maragh Would a vacation home in Davenport attract tourists visiting Orlando and Disney or is it too far? And as a B plan, would you be able to get positive cash flow by renting long term there? Thank you