All Forum Posts by: David Begley

 Thanks Lynn, I was under the impression that this had been going on since the 4th quarter of last year, or at least 6 - 9 months, and was just recently remedied.  I would have gone ballistic after only a few weeks because such a delay could be the difference between a net profit or a loss.  Yes, I'm glad Donald was able to get reimbursed for the shoddy work - he's a much more patient man than me.  

 Yes, I agree, Florida beaches, especially on the west coast and gulf are much nicer than any I've seen in California.  During high season around Seagrove, Seaside, Rosemary Beach, Destin a visitor will be surprised to see more metro Atlanta license plates than Florida residents.  A lot of folks I know with vacation homes/rental properties in Florida use Florida as their residence to avoid state income taxes, yet another plus.  

I don't think anyone feels safe in Tijuana.  I had to go back a 2nd time just to see if my fear was justified!   Vegas seems like Salt Lake City in comparison!  

 I feel safer in Cabo than in most areas of Atlanta that I rehab houses!  In fact, our kids and their friends (ages 16 - 21) go out to Cabo nightlife without the parents and I've never worried.  One of the locals, however, did strongly suggest one of the college girls with us last trip lose her sorority "Zeta" tee shirt because evidently "Los Zetas" is the most violent Mexican mafia drug cartel in Mexico and they would not be amused.  
 

I do not know the answer to your last two questions, but I have several friends that have retired to San Miguel de Allende, which is in the mountains, I believe.  I'll see if they have dual citizenship and how that all works.  I also think it has been only within the last 5-7 years that Americans could buy beachfront property in Mexico, and even now the dirt will be a land lease and the improvements are financed through U.S. entities.  

 Congrats.  I hope they learned a valuable business lesson - if they would have rectified the problem immediately, they could have avoided the complaining and bad publicity.  

 Cabo is still cheaper than SoCal!  We've had a fractional interest in a place in Cabo for several years, and yes it is getting more expensive, especially along the corridor where  Tiger Woods' new Diamante resort and golf course is being developed.  Later this fall, I'm going to check out San Jose, which is just about an hour trip up the Sea of Cortez coast.   And you are correct, the getting there part from the east coast isn't easy or cheap.  Even from the world's busiest airport (ATL), there is just one non-stop direct flight to Cabo each day.  

 Wow!  Thank you Renee!  My Broker and I are real estate agents/brokers only in the narrowest sense of the term - he is a real estate attorney and investor and I'm an investor using my license to acquire/dispose of my own investments.  He'll probably be happy to know of this capability as well.  Thanks again.  

7.5%, and only for comparative/elimination purposes; and then only if the Seller hasn't fabricated their NOI (e.g. indicating expenses less than 40%-45% gross rents.) To my way of thinking and analysis, DSCR is a better tool to do a quick and dirty check to see if further, deeper analysis is warranted. I calculate 75% LTV of asking price and then what the annual p&i would be on that amount. Then calculate NOI using expenses at 40-45% gross rents. If NOI/annual debt service is less than 1.2, no go; if greater, analyze deeper.

Cabo San Lucas, Mx on the Sea of Cortez side.  

 Renee, how does one access properties outside metro Atlanta, and especially nationwide, on the FMLS?  I don't see that feature.