This month, the National City-based International Community Foundation released findings of a survey they conducted of more than 840 senior retirees in coastal areas of Mexico who are over the age of 50. I’m republishing here portions of the Foundation press release that was posted on their web site:
U.S. retirees in Mexico are relatively young and well-educated. Nearly 53% are under 65 years of age (and, in fact, 80% are 69 years or younger), perhaps indicating that Mexico may not be as attractive for older Americans that require additional medical care. In addition, almost two-thirds have at least a college degree, and another 28% had attended at least one-year of college.
The respondents chose Mexico for retirement due to its proximity to the United States and its affordability relative to other U.S. retirement destinations.
U.S. retirees residing in Mexico continue to maintain strong ties to the U.S.: 50% consider the U.S. their primary country of residency, and almost 22% return to the U.S. on a monthly basis. 85% remain in contact with friends and family in the U.S. through the internet, 64% used the telephone, and 33% used Skype.
Retirees living in Mexico are worldly and world-wise. Of those that had considered retirement locations other than Mexico, 41% considered retiring in Central America or the Caribbean; 19% considered other non-U.S. destinations as possible retirement locations. Should quality of life decline in Mexico, those that are financially able could begin to look elsewhere.
Mexico may become an alternative for those U.S. retirees facing economic challenges in the future. While survey results and focus group participants clearly express that economic reasons were a major factor in leading them south of the U.S.-Mexico border, the potential is likely greater than is being realized. In 2007, the California Elder Economic Security Standard Index (a financial measure that indicates basic financial needs for seniors in California) ranged from $21,000-$27,500 as the minimum needed for major California cities. The survey results show that nearly 44% of U.S. coastal retirees in Mexico live comfortably on less than $1,000 per month – an amount which underscores the potential demand for retirement options for low and middle income retirees in Mexico.
For more on the survey, go to the ICF website or read this story by San Diego Union-Tribune reporter Sandra Dibble.
Friday, March 26, 2010
Tuesday, March 23, 2010
Paradise, a buyer’s market and place to call home
When you think about curbside appeal, do palm trees, powdery white sand and crystal ocean blue come to mind? If so, you’re not alone. More and more people are buying property every day in places like Tulum, a quiet village 80 miles south of Cancún on Mexico’s Yucatán peninsula, adding Caribbean coastline to their real estate portfolios. Rich in ancient Mayan history, local lore has it that Tulum’s settlers chose its name (the Mayan word for “wall”) because of the giant bluffs that mark its topography. The combination of soaring rocky cliffs and deep azure water surrounding it makes the area an idyllic place to call home.
Sian Ka'an Biosphere in Tulum
For some, the idea of buying foreign land may seem like a pipe dream, but not for Vicki White, who lives in Orlando, Florida most of the year. No stranger to Mexico’s beautiful beaches and romantic getaways, when a property located just outside the Tulum pueblo in Chan Chemyuil became available White decided to give it a look. “Four or five years ago oceanfront was going for $30K. I’ve watched several opportunities go by.” Today’s seaside properties are out of her price range, but this place was close enough to make beach life an easy part of her days. She wasn’t going to let it slip away.
White bought the two-bedroom, one-bathroom house for a scant $39,900. With its smaller kitchen, she estimates the size at just under 1,000 square feet. She says it works just fine for her—and those companions lucky enough to be invited as house guests. Groceries and other shopping needs require a quick trip into Tulum, about a 10 minute drive.
As a design studio manager at a construction company, White knows a thing or two about pulling off a home’s aesthetic appeal. But doing it on a tight budget wasn’t as easy as she had imagined. “Outfitting a house is the biggest challenge,” she says. “I thought things would be cheap down there, but they’re not.” When she purchased appliances in Playa Del Carmen, White was surprised that no one spoke English. “That transaction took about an hour,” she says. The upside: White ultimately got a price break on her appliances, making it time well spent.
Making the decision to buy was not an easy one and the risks were many, but this self-proclaimed beach bum decided a little risk could be well worth it. “The interesting thing was this community sat for years, and after resurrection, sold out in about six months,” she says. Taking the plunge meant there were a lot of leaps of faith needed to make her dream a reality. When she was finally ready, White wired $10,000 to her realtor, waited for an e-mail confirmation of the transaction and never looked back, even when she had a good reason to. “When we purchased, the front door was open and it was trashed,” says White. “Stuff had blown in and there were water stains on the walls.”
But this fixer-upper came with an “options list” for the needed home improvements. White opted for new windows, getting the roof sealed and having a gas water heater installed. She spent an extra $15,000 to fix up the place and when all was said and done, White spent a total of $45,000, including closing costs. She moved in in July 2008 and says she is looking forward to seeing her beach buds.
When describing her vacation home White says, “there’s not much to it; but a shack near the Caribbean ocean is still better than a good day at work.”
Both the North American Free Trade Agreement (NAFTA) and Mexico’s Foreign Investment Law (FIL) have relaxed bans that once prevented foreigners from owning property there. Non-citizens of Mexico can now obtain legal ownership of property but must use the help of a Mexican bank to do so. A good attorney and/or real estate agent with local knowledge is also a must.
Location dictates the process for foreign real estate purchases in Mexico. The area commonly referred to as the “restricted zone” stretches about 62 miles from Mexico’s borders and 31 miles from her coastlines. Under Mexican law real estate purchased in those areas must be held in a fideicomiso, or bank trust, which is set up by an attorney in Mexico. A foreigner’s title must be held by a bank. After 50 years, the bank trust expires and must be renewed, according to current law.
The process is complicated but ultimately is a win-win for both the Mexican government and foreign investors because it attracts investment while giving buyers legal ties to their property and the investment protections they need.
Tulum Beach Real Estate Investment Properties
Rob Kinnon and wife Michele finished building their home in Playa del Carmen, halfway between Cancún and Tulum, in 2007. Originally from upstate New York, the couple considers Playa their permanent home now after four years in residence. Together they enjoy their life in Mexico and their new status as expats. Michele takes photos and updates her blog almost daily while Rob runs Bric International, a real estate brokerage firm.
Rob says the procedures for obtaining a title to land in Mexico are nothing like those in the U.S. It’s a complicated process and it’s better not to expect things to be done the American way. When in Mexico, do as the Mexicans do. Rob advises that it helps to understand Mexico’s customs and laws before jumping into the sea of Mexican real estate legal-speak. Transactions should be handled by a licensed Mexican attorney who works with the buyer and their real estate agent.
Some people will make mistakes when buying foreign properties. But Kinnon says risks can be minimized with a little common sense. For starters, taking your time puts you in the driver’s seat. He says missteps most often happen when people purchase on impulse and have not gotten good legal advice.
Trust is another factor that should not be underestimated, whether it’s in your own instincts or trusting others involved in the transaction. Kinnon advises that people tap into that sixth sense when working with realtors and attorneys. If you feel uncomfortable in the process, listen to your gut, says Kinnon. If it means kill the deal, as disappointing as it may be, listen to that little voice; it’s there for a reason. ”If you meet an attorney and you feel another attorney,” Kinnon cautions.
One might be tempted to think that buying foreign land complete with a custom home can only be a dream. But Cameron Crow, Director of Sales at the Los Arboles Tulum development, would disagree. Five acre parcels with a custom home are going for a little over $200,000, a fraction of what they would cost in the U.S. He says Mexico has much to offer as an up-and-coming location. “Mexico is an emerging economy with lots of room to grow,” said Crow. “There is a lot of opportunity in Mexico—it’s like a gold rush.”
Everyone’s coming to town, especially the banks. Lending institutions currently offering mortgages in Mexico include: GE Money, U.S. Laredo National Bank, U.S. Scotia Bank, Canada Source: Bric International
Crow is not alone in his thinking. As an investment, other real estate professionals agree that, compared to most other places on the “Mexican Riviera,” Tulum helps buyers keep more green in their pockets.
Roberto Rivas Bastidas, a realtor who operates out of RE/MAX, estimates that building costs for custom homes are about $100 per square foot, prices nearly impossible to come by in most better American neighborhoods. When asked whether those prices reflect luxury items like granite countertops, he says yes, such
amenities are quite common.
“For $200,000, you can have a really nice custom home built to your specifications,” Rivas says. He adds that these developments are generally about two-and-a-half miles from the beach and are zoned as either single-family homes or condos.
What’s even more encouraging is that property values in Tulum net a cozy return that is generally unheard of in the U.S. “Whoever invested in real estate in the February [2008] timeframe is seeing a 20 to 25 percent increase in the value of their property,” claims Rivas. Early investors who plunked down their cash around 2006 are doing even better, netting around 100 percent increases in their investments, he adds.
Housing options in Tulum abound with a little bit of everything from single-family homes and condos to fixeruppers. But if traditional digs aren’t your style, something off the beaten path can be arranged. Picture thick jungle, lush sprawling treetop canopies, eco-friendly housing complete with a small lot and plenty of bug spray to really enjoy what the Yucatán peninsula has to offer.
Location, cubed, is the motto in real estate and Los Arboles Tulum has that handled nicely. Nestled on the perimeter of the Sian Ka’an preserve, a 1.6 million acre nature sanctuary, Crow and his associates knew they had a gem when they landed this development. And the pristine land next to it would only sweeten the deal for both the buyer and seller. The “low-impact, ecologically sensitive” housing community offers cutting-edge green solutions suitable for almost any environmentalist, pre, post or of the reborn-type. Each five-acre home site has specific guidelines allowing only five percent of the parcel to be used for building. Located off the power-grid, the homes are solar-powered and require homeowners to treat their own waste water, according to Crow. And an added bonus: the transaction includes title.
Jungle Real Estate in Tulum
In many places, from Mexico’s Cancún and Playa del Carmen to Florida’s coast and the northern Mediterranean, real estate near the water is virtually untouchable due to high prices and overdevelopment. But that’s not so in Tulum with its pristine beaches that few know about. Now even that secret is creeping out of the bag. Crow says you’re looking at about a $2 million investment for beachfront property on the Yucatán peninsula, but developments like Los Arboles, only about 15 minutes from the beach by car, are a much more affordable catch.
With undeveloped charm that appeals to many people, the deals are not likely to last forever. Crow says sales are exceptionally strong with 45 of 51 lots under contract with deposits. “I’m selling ’em like crazy; I need to raise the price,” he notes. Plans to up the lot prices from $55K to $65K are in the works to simply keep up with rising demand.
——————————————–
The mystical charms of Tulum have attracted nature lovers and adventurers for generations and now with the recently launched Tulum Eco Community called Aldea Zama, it promises to bring year round visitors and residents. These new options of land for sale in Tulum Mexico are transforming the real estate market for this small Mexican Caribbean community. Pleasure seekers are drawn by the allure of Aldea Zama and its’ unspoiled Tulum Mexico Land with year-round sunshine, fascinating archeological treasures, Mayan history and culture, friendly faces, exotic jungles and pristine white-sand beaches.
Tulum Ruins are under 5 miles from Aldea Zama
Today the past is about to embrace the future. There is a new vision in this land that promises to be rich in quality and upbeat in lifestyle. The Tulum Investment Market is attracting people from Europe, from Canada, the United States and all regions of the world. The land for sale in Tulum has been quoted by some as having the highest appreciation potential in all of Mexico.
Invest in Tulum, Mexico. Invest in the land for sale in Tulum. Invest in Aldea Zama, the new and vibrant eco community development of the Riviera Maya region.
By Elise Oberliesen
Sian Ka'an Biosphere in Tulum
For some, the idea of buying foreign land may seem like a pipe dream, but not for Vicki White, who lives in Orlando, Florida most of the year. No stranger to Mexico’s beautiful beaches and romantic getaways, when a property located just outside the Tulum pueblo in Chan Chemyuil became available White decided to give it a look. “Four or five years ago oceanfront was going for $30K. I’ve watched several opportunities go by.” Today’s seaside properties are out of her price range, but this place was close enough to make beach life an easy part of her days. She wasn’t going to let it slip away.
White bought the two-bedroom, one-bathroom house for a scant $39,900. With its smaller kitchen, she estimates the size at just under 1,000 square feet. She says it works just fine for her—and those companions lucky enough to be invited as house guests. Groceries and other shopping needs require a quick trip into Tulum, about a 10 minute drive.
As a design studio manager at a construction company, White knows a thing or two about pulling off a home’s aesthetic appeal. But doing it on a tight budget wasn’t as easy as she had imagined. “Outfitting a house is the biggest challenge,” she says. “I thought things would be cheap down there, but they’re not.” When she purchased appliances in Playa Del Carmen, White was surprised that no one spoke English. “That transaction took about an hour,” she says. The upside: White ultimately got a price break on her appliances, making it time well spent.
Making the decision to buy was not an easy one and the risks were many, but this self-proclaimed beach bum decided a little risk could be well worth it. “The interesting thing was this community sat for years, and after resurrection, sold out in about six months,” she says. Taking the plunge meant there were a lot of leaps of faith needed to make her dream a reality. When she was finally ready, White wired $10,000 to her realtor, waited for an e-mail confirmation of the transaction and never looked back, even when she had a good reason to. “When we purchased, the front door was open and it was trashed,” says White. “Stuff had blown in and there were water stains on the walls.”
But this fixer-upper came with an “options list” for the needed home improvements. White opted for new windows, getting the roof sealed and having a gas water heater installed. She spent an extra $15,000 to fix up the place and when all was said and done, White spent a total of $45,000, including closing costs. She moved in in July 2008 and says she is looking forward to seeing her beach buds.
When describing her vacation home White says, “there’s not much to it; but a shack near the Caribbean ocean is still better than a good day at work.”
Both the North American Free Trade Agreement (NAFTA) and Mexico’s Foreign Investment Law (FIL) have relaxed bans that once prevented foreigners from owning property there. Non-citizens of Mexico can now obtain legal ownership of property but must use the help of a Mexican bank to do so. A good attorney and/or real estate agent with local knowledge is also a must.
Location dictates the process for foreign real estate purchases in Mexico. The area commonly referred to as the “restricted zone” stretches about 62 miles from Mexico’s borders and 31 miles from her coastlines. Under Mexican law real estate purchased in those areas must be held in a fideicomiso, or bank trust, which is set up by an attorney in Mexico. A foreigner’s title must be held by a bank. After 50 years, the bank trust expires and must be renewed, according to current law.
The process is complicated but ultimately is a win-win for both the Mexican government and foreign investors because it attracts investment while giving buyers legal ties to their property and the investment protections they need.
Tulum Beach Real Estate Investment Properties
Rob Kinnon and wife Michele finished building their home in Playa del Carmen, halfway between Cancún and Tulum, in 2007. Originally from upstate New York, the couple considers Playa their permanent home now after four years in residence. Together they enjoy their life in Mexico and their new status as expats. Michele takes photos and updates her blog almost daily while Rob runs Bric International, a real estate brokerage firm.
Rob says the procedures for obtaining a title to land in Mexico are nothing like those in the U.S. It’s a complicated process and it’s better not to expect things to be done the American way. When in Mexico, do as the Mexicans do. Rob advises that it helps to understand Mexico’s customs and laws before jumping into the sea of Mexican real estate legal-speak. Transactions should be handled by a licensed Mexican attorney who works with the buyer and their real estate agent.
Some people will make mistakes when buying foreign properties. But Kinnon says risks can be minimized with a little common sense. For starters, taking your time puts you in the driver’s seat. He says missteps most often happen when people purchase on impulse and have not gotten good legal advice.
Trust is another factor that should not be underestimated, whether it’s in your own instincts or trusting others involved in the transaction. Kinnon advises that people tap into that sixth sense when working with realtors and attorneys. If you feel uncomfortable in the process, listen to your gut, says Kinnon. If it means kill the deal, as disappointing as it may be, listen to that little voice; it’s there for a reason. ”If you meet an attorney and you feel another attorney,” Kinnon cautions.
One might be tempted to think that buying foreign land complete with a custom home can only be a dream. But Cameron Crow, Director of Sales at the Los Arboles Tulum development, would disagree. Five acre parcels with a custom home are going for a little over $200,000, a fraction of what they would cost in the U.S. He says Mexico has much to offer as an up-and-coming location. “Mexico is an emerging economy with lots of room to grow,” said Crow. “There is a lot of opportunity in Mexico—it’s like a gold rush.”
Everyone’s coming to town, especially the banks. Lending institutions currently offering mortgages in Mexico include: GE Money, U.S. Laredo National Bank, U.S. Scotia Bank, Canada Source: Bric International
Crow is not alone in his thinking. As an investment, other real estate professionals agree that, compared to most other places on the “Mexican Riviera,” Tulum helps buyers keep more green in their pockets.
Roberto Rivas Bastidas, a realtor who operates out of RE/MAX, estimates that building costs for custom homes are about $100 per square foot, prices nearly impossible to come by in most better American neighborhoods. When asked whether those prices reflect luxury items like granite countertops, he says yes, such
amenities are quite common.
“For $200,000, you can have a really nice custom home built to your specifications,” Rivas says. He adds that these developments are generally about two-and-a-half miles from the beach and are zoned as either single-family homes or condos.
What’s even more encouraging is that property values in Tulum net a cozy return that is generally unheard of in the U.S. “Whoever invested in real estate in the February [2008] timeframe is seeing a 20 to 25 percent increase in the value of their property,” claims Rivas. Early investors who plunked down their cash around 2006 are doing even better, netting around 100 percent increases in their investments, he adds.
Housing options in Tulum abound with a little bit of everything from single-family homes and condos to fixeruppers. But if traditional digs aren’t your style, something off the beaten path can be arranged. Picture thick jungle, lush sprawling treetop canopies, eco-friendly housing complete with a small lot and plenty of bug spray to really enjoy what the Yucatán peninsula has to offer.
Location, cubed, is the motto in real estate and Los Arboles Tulum has that handled nicely. Nestled on the perimeter of the Sian Ka’an preserve, a 1.6 million acre nature sanctuary, Crow and his associates knew they had a gem when they landed this development. And the pristine land next to it would only sweeten the deal for both the buyer and seller. The “low-impact, ecologically sensitive” housing community offers cutting-edge green solutions suitable for almost any environmentalist, pre, post or of the reborn-type. Each five-acre home site has specific guidelines allowing only five percent of the parcel to be used for building. Located off the power-grid, the homes are solar-powered and require homeowners to treat their own waste water, according to Crow. And an added bonus: the transaction includes title.
Jungle Real Estate in Tulum
In many places, from Mexico’s Cancún and Playa del Carmen to Florida’s coast and the northern Mediterranean, real estate near the water is virtually untouchable due to high prices and overdevelopment. But that’s not so in Tulum with its pristine beaches that few know about. Now even that secret is creeping out of the bag. Crow says you’re looking at about a $2 million investment for beachfront property on the Yucatán peninsula, but developments like Los Arboles, only about 15 minutes from the beach by car, are a much more affordable catch.
With undeveloped charm that appeals to many people, the deals are not likely to last forever. Crow says sales are exceptionally strong with 45 of 51 lots under contract with deposits. “I’m selling ’em like crazy; I need to raise the price,” he notes. Plans to up the lot prices from $55K to $65K are in the works to simply keep up with rising demand.
——————————————–
The mystical charms of Tulum have attracted nature lovers and adventurers for generations and now with the recently launched Tulum Eco Community called Aldea Zama, it promises to bring year round visitors and residents. These new options of land for sale in Tulum Mexico are transforming the real estate market for this small Mexican Caribbean community. Pleasure seekers are drawn by the allure of Aldea Zama and its’ unspoiled Tulum Mexico Land with year-round sunshine, fascinating archeological treasures, Mayan history and culture, friendly faces, exotic jungles and pristine white-sand beaches.
Tulum Ruins are under 5 miles from Aldea Zama
Today the past is about to embrace the future. There is a new vision in this land that promises to be rich in quality and upbeat in lifestyle. The Tulum Investment Market is attracting people from Europe, from Canada, the United States and all regions of the world. The land for sale in Tulum has been quoted by some as having the highest appreciation potential in all of Mexico.
Invest in Tulum, Mexico. Invest in the land for sale in Tulum. Invest in Aldea Zama, the new and vibrant eco community development of the Riviera Maya region.
By Elise Oberliesen
Thursday, March 18, 2010
Myths and Facts About Mexico’s Healthcare System
By: Charles Sipe
For foreigners who are considering a move to Mexico, one important concern is the quality of healthcare. Often images of Third World conditions or swine flu emerge when most people think of “healthcare” and “Mexico.” However, the reality is that for foreigners living in Mexico, the quality of healthcare is far from second-rate.
Mexico has both private and public systems of healthcare that are accessible to foreigners.
The Mexican Social Security Institute (IMSS) provides an HMO-style public health care program. The program is open only to Mexican taxpayers who pay Social Security through their employer and qualified resident retirees (including foreigners).
For a low annual flat fee, participants have access to a health care plan with no limits, no deductibles, no charge for virtually all medicine, tests, X-rays, eyeglasses and dental coverage. Pre-existing conditions are not covered for the first two years but virtually all (with the exception of a very few) medical care costs are covered by the annual fee.
IMSS hospitals do not offer the same frills that US hospitals do, such as in-room phones and televisions, and some require that family members assist patients with non-medical tasks. In most cases, doctors and nurses only speak in Spanish but the quality of health care is often good and with the government increasing its spending on healthcare, it is expected that the quality and access to care will improve. Many US retirees living in Mexico purchase IMSS coverage as a cheap form of insurance against medical emergencies, while traveling back to the US for less urgent care.
Private health systems or insurers provide wealthy and middle class Mexicans and foreigners working or residing in Mexico with access to high quality, state of the art medical services. Typically services are provided on a cash basis or through payment plans. Still costs for these high end services are often much lower than if the same procedure were done in the US. Often doctors and staff at these facilities have an excellent medical education and have trained abroad in Europe or North America. This is a growing sector of Mexico’s economy and many Mexicans who are insured through the IMSS system pay out of pocket to access these services. Top facilities are located in Mexico City, Guadalajara and Monterrey.
Also See:
How Mexico’s Health System Works CBC News
For foreigners who are considering a move to Mexico, one important concern is the quality of healthcare. Often images of Third World conditions or swine flu emerge when most people think of “healthcare” and “Mexico.” However, the reality is that for foreigners living in Mexico, the quality of healthcare is far from second-rate.
Mexico has both private and public systems of healthcare that are accessible to foreigners.
The Mexican Social Security Institute (IMSS) provides an HMO-style public health care program. The program is open only to Mexican taxpayers who pay Social Security through their employer and qualified resident retirees (including foreigners).
For a low annual flat fee, participants have access to a health care plan with no limits, no deductibles, no charge for virtually all medicine, tests, X-rays, eyeglasses and dental coverage. Pre-existing conditions are not covered for the first two years but virtually all (with the exception of a very few) medical care costs are covered by the annual fee.
IMSS hospitals do not offer the same frills that US hospitals do, such as in-room phones and televisions, and some require that family members assist patients with non-medical tasks. In most cases, doctors and nurses only speak in Spanish but the quality of health care is often good and with the government increasing its spending on healthcare, it is expected that the quality and access to care will improve. Many US retirees living in Mexico purchase IMSS coverage as a cheap form of insurance against medical emergencies, while traveling back to the US for less urgent care.
Private health systems or insurers provide wealthy and middle class Mexicans and foreigners working or residing in Mexico with access to high quality, state of the art medical services. Typically services are provided on a cash basis or through payment plans. Still costs for these high end services are often much lower than if the same procedure were done in the US. Often doctors and staff at these facilities have an excellent medical education and have trained abroad in Europe or North America. This is a growing sector of Mexico’s economy and many Mexicans who are insured through the IMSS system pay out of pocket to access these services. Top facilities are located in Mexico City, Guadalajara and Monterrey.
Also See:
How Mexico’s Health System Works CBC News
Tomorrow’s millionaires are made today; Campeche real estate might be the road
I have been speaking to many investors the past several months about the Campeche real estate market. In the conversations it brings to mind that many people out there are scrambling to make sense of the economic mess created over the last few years, the smart money investors have already keyed in on when and where to begin reinvesting. Time has taught us all that our lives are cyclical. Case in point: bell bottom pants, recessionary times and historically low interest rates. Though some things fade in and out, one inevitable rule has always remained true when it comes to real estate investing, even here in the Mexico real estate market: location, location, location.
Whether you are buying your first home or you are a seasoned international real estate investor, this has always been and will always be the golden rule of real estate. One model of success that has created millionaires such as H. Ross Perot, Colonel Sanders, Hewlett and Packard, Babe Ruth, Howard Hughes and Joe Kennedy is to buy low and sell high. When and where did these real estate tycoons do this? You might be surprised at the answer. It was not during the best of economic times, in fact, it was at the worst of economic times. It was during the great depression. It is no secret that economic downturns create once- in- a- lifetime opportunities to amass huge sums of wealth and the most common vehicle to do such has always been real estate investing. During the great depression, real estate demand was low and therefore prices were also low. Those visionaries who were “liquid” had the opportunity to snatch up incredible pieces of real estate at rock bottom prices, knowing the price would once again be going up….way up.
“Foreclosure by the banks has been the order of the day. Day after day real estate can be bought for the price of the first mortgage and there are no bidders except the bank which holds the first mortgage. In this way the banks are becoming the holders of huge quantities of real estate.”**
Does this sound like a headline from today’s paper? Certainly an all too common statement about our current economic crisis, but this was written about economic conditions in 1929 and the years following.
So the “when” is evident. Our economy has once again created the perfect opportunity for visionaries to buy low and sell high. Just as the aforementioned millionaires took advantage of the opportunity that faced them 80 years ago and became our “economic heroes” of today, we too stare opportunity in the face and have the chance to buy incredible pieces of Mexico Real Estate at bargain prices and therefore creating a portfolio worth millions.
The lone question then remains “where” do I invest? The economic crisis has been a global one and therefore creating opportunities throughout the world, but where can the “little guy” feel safe to invest knowing his money is secure and growing? Many factors must be taken into consideration when investing in real estate, especially internationally. Several markets are now prime for a dramatic increase in real estate prices. Many of the places in the United States and Canada are still over priced and the insecurity of the market falling even lower and a slow recovery time do not make most of these areas a logical choice. One area that has drawn international attention for real estate investing because of its low prices, prime real estate, strong and growing economy, location, climate is Mexico. The Mexico real estate market is large and a geographically diverse country with many beautiful areas. The most expensive and most sought after real estate in the world is beach front property and mexico beachfront real estate offers some of the world’s most beautiful areas. Combine inexpensive Mexico beachfront properties with a cheap labor force, warm year round tropical climate and state of the art health care and you have a gold mine in the making. American and Canadian baby boomers are buying up Mexico beachfront at astonishing speed sending prices through the roof, but there are stretches of beautiful white sandy beachfront properties lining emerald waters still available at bargain prices as low as $55,000 usd. now is the time to act, to secure your future to take advantage of this once-in-a-lifetime opportunity created by our economy.
By Bob Mc Cain
Whether you are buying your first home or you are a seasoned international real estate investor, this has always been and will always be the golden rule of real estate. One model of success that has created millionaires such as H. Ross Perot, Colonel Sanders, Hewlett and Packard, Babe Ruth, Howard Hughes and Joe Kennedy is to buy low and sell high. When and where did these real estate tycoons do this? You might be surprised at the answer. It was not during the best of economic times, in fact, it was at the worst of economic times. It was during the great depression. It is no secret that economic downturns create once- in- a- lifetime opportunities to amass huge sums of wealth and the most common vehicle to do such has always been real estate investing. During the great depression, real estate demand was low and therefore prices were also low. Those visionaries who were “liquid” had the opportunity to snatch up incredible pieces of real estate at rock bottom prices, knowing the price would once again be going up….way up.
“Foreclosure by the banks has been the order of the day. Day after day real estate can be bought for the price of the first mortgage and there are no bidders except the bank which holds the first mortgage. In this way the banks are becoming the holders of huge quantities of real estate.”**
Does this sound like a headline from today’s paper? Certainly an all too common statement about our current economic crisis, but this was written about economic conditions in 1929 and the years following.
So the “when” is evident. Our economy has once again created the perfect opportunity for visionaries to buy low and sell high. Just as the aforementioned millionaires took advantage of the opportunity that faced them 80 years ago and became our “economic heroes” of today, we too stare opportunity in the face and have the chance to buy incredible pieces of Mexico Real Estate at bargain prices and therefore creating a portfolio worth millions.
The lone question then remains “where” do I invest? The economic crisis has been a global one and therefore creating opportunities throughout the world, but where can the “little guy” feel safe to invest knowing his money is secure and growing? Many factors must be taken into consideration when investing in real estate, especially internationally. Several markets are now prime for a dramatic increase in real estate prices. Many of the places in the United States and Canada are still over priced and the insecurity of the market falling even lower and a slow recovery time do not make most of these areas a logical choice. One area that has drawn international attention for real estate investing because of its low prices, prime real estate, strong and growing economy, location, climate is Mexico. The Mexico real estate market is large and a geographically diverse country with many beautiful areas. The most expensive and most sought after real estate in the world is beach front property and mexico beachfront real estate offers some of the world’s most beautiful areas. Combine inexpensive Mexico beachfront properties with a cheap labor force, warm year round tropical climate and state of the art health care and you have a gold mine in the making. American and Canadian baby boomers are buying up Mexico beachfront at astonishing speed sending prices through the roof, but there are stretches of beautiful white sandy beachfront properties lining emerald waters still available at bargain prices as low as $55,000 usd. now is the time to act, to secure your future to take advantage of this once-in-a-lifetime opportunity created by our economy.
By Bob Mc Cain
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