All Forum Posts by: Francisco Cimon

Hello Cheryl, 

I am in the same boat as you. I am looking for a PM company (as a new investor). I already interviewed several of them. I would be happy to share my findings with you. I would also be interested in learning about your experience with you current PM. 

Feel free to DM me...

Cheers,

Hey...

I just sent you a DM...

Cheers,

@Johnathan Williams  Just sent you a DM....

@Emma Duncan  Let me know if you decide to start a periodic zoom call or if you hear about one....

Cheers, 

Good day, 

Will be moving to Ottawa very soon for a career opportunity. Looking to rent a furnished one bedroom/studio. Anyone here has one of those for rent? Or could someone point me to an agent that could help me? Any help will be appreciated. Thanks!

I am not a Mexican but i have lived and worked in Mexico for well over a decade while working in the hospitality industry: Cancun, Puerto Vallarta, Los Cabos are some of the places i worked. 

Some of the most beautiful and luxurious hotels in North America are in Los Cabos and Riviera Maya. Many foreigners live in resort destinations such as Los Cabos and Puerto Vallarta. Several luxurious hotels opened in the last 5-6 years in Los Cabos. 

 However, I am not sure that mexico is a good place to invest in short term rental properties at this time. The whole country is living through a security/cartel war crisis never seen before. It used to be that only a couple of states were severely affected by drug violence. Not anymore. Tourists destination such as Acapulco, Mazatlan and even Cancun are ravaged by violence. The amount of homicide in Mexico will reach a record number this year.

More and More Americans and Canadians have decided against vacationing in Mexico (i should know, I am still in the hotel industry) and an increasing number of companies have decided not to have their incentive trips in Mexico (a backbreaker for Mexico).

Just do a search on google.  

Fernado Duque...

Feel free to reach out to me..

I am currently living and workin in the caribbeans. I left mexico a couple of years ago (looking back ... probably at the right time too).

Alex,

I am happy to hear that things are working very well for you in Cabo. I love Cabo. Cabo is the number one destination for tourism in Mexico (cancun/riviera maya might bring more people because of the greater amount of hotels but Cabo is a more prestigious destination) . Great golf, great fishing, many flights, new modern airport, great weather and the best group of hotels in the country. 

I work in the hospitality industry so I am very familiar with the AirBnB effect on hotels. Have you had any issues with local/municipal authorities regarding your long term vacation rental business (tax laws, permits, etc.)?

Good day Alex,

I have lived many years in Los Cabos. I left in 2014. Things have developped immensely since then. Thousands of hotel rooms have opened since then....

How is the business in vacational ownership going for you lately? I hear there is a lot of competition in the area. Back just a few years ago, AirBnB did not even exist in Los Cabos...

Have you ever thought of investing in rentals for locals? There has been a huge influx of out of state worker coming to Los Cabos for work. This definitely creates a big demand for housing (rentals included)...Something to consider...

The interest rates for a loan you mentioned in your post seem very low. Perhaps even suspiciously low. All I evered heard was 10 to 15% when I was there....

My suggestion would be to find partners. Friends, family and co-workers to start. Wealthy friends of friends later as you build your portfolio...

Hello Fernando,

Are you or your wife a mexican citizen? Do you own or have owned property in Mexico? Do you plan on flipping house full time or will you have  a "side job"? Are you familiar with the laws regarding purchasing properties in Mexico? Are you aware that the country is living through an important security crisis since about 3 years ago?

In my opinion, the transactional cost of buying and selling properties in Mexico (basically trading houses) might make it very challenging to make good profits if you are buying and selling as a foreigner. Unless you do it on a very big scale... Maybe...

Full disclosure: I have lived and worked in the country of mexico for over a decade.