[Cheetah]

(01-13-2018 06:20 PM)Australia Sucks Wrote:  

I’ve said this before and I’ll say it again. From personal experience, do not buy condos/apartments or villas. If you are going to buy something buy a house or even raw land.

Why?

What is the difference between a villa and a house?

[Australia Sucks]

Because anything that is strata titled there are too many headaches to deal with as well as wasteful spending. For example I own an apartment in a small complex. The unit owners collectively voted (I was the only one who voted against it) to spend over $2500 on a colour consultant to decide what shade of white to repaint the building. They still weren’t happy with the recommendation and now voted to get another colour consultant in.... in the apartment building they put it into the Strata’s constitution that you cannot do short-term rentals (e.g. AirBnB). I had the idiots below the apartment I own complain about noise created by my tenants. After investigating the issue I found it’s because the idiot owner of the apartment below mine was too tight to put any sound proofing insulation into his ceiling so the noise goes straight through my floor and through his ceiling into the apartment below. The idiot won’t accept it’s his fault and not the fault of my tenants (they aren’t especially noisy people). The lost of headaches just goes on and on. Also apartments all other things being equal tend to generate lower capital gains than houses or raw land (because land value goes up not building value).

When I say “villa” I’m referring to a strata titled house. For example a house that is in a gated community complex and you have to pay annual fees.

[Sidney Crosby]

^ That colour thing is the most faggot thing I've ever heard of, what the fuck is a colour consultant? Go down to Home Depot and get one of those popular colour books from Behr or whatever and choose a fucking colour, I don't see why they couldn't have just voted on which paint colour they want.

I wouldn't be opposed to buying a strata lot in Mexico, labour is dirt cheap so won't be getting ripped off too bad. The problem I think with places like Tulum is that there is so much cheap land around that they could just keep developing new places. In places like Puerto Vallarta there isn't a ton of empty land where they can just put up new projects. The sodomites in the "romantic zone" are buying up all the old buildings and high end towers are being put up in their place. The prices keep going up and the rents are high.

[jbkunt2]

I’m still tempted...

[jamaicabound]

(01-09-2018 05:06 PM)Pointer Wrote:  

200k for a "little condo" sounds mighty expensive to me. You can probably find cheaper in places like Spain or Portugal.

I think one difference is Playa and Tulum is so easy to get to from the states. It's relatively close to Cancun so you have a million cheap flights going in everyday, for pretty much everyone in the states with the exception of the NW of the USA its under a 3 hour flight. I feel like that tends to drive up prices. Things get a little cheaper in less touristy towns or if you wanted to go to Central or South America.

I personally would probably prefer spain or portugal but you can't go there for a long weekend and I imagine flights would be quite a bit more expensive for someone who isn't going to live there but wants to visit often.

[jamaicabound]

(01-13-2018 06:20 PM)Australia Sucks Wrote:  

I’ve said this before and I’ll say it again. From personal experience, do not buy condos/apartments or villas. If you are going to buy something buy a house or even raw land.

m

Just curious but what's the reason for this? Do they appreciate better? I think the reason so many people look for condos is the perception it's easier/safer to manage remotely. I know management companies rape you but at least your not having to go out and find a gardener, find a property manager, etc. Also I think there's some security in being in a property that's being overseen as opposed to a house where someone could go clear out all your stuff if your not keeping an eye on things

[PapayaTapper]

(06-25-2018 01:07 PM)jamaicabound Wrote:  

(01-13-2018 06:20 PM)Australia Sucks Wrote:  

I’ve said this before and I’ll say it again. From personal experience, do not buy condos/apartments or villas. If you are going to buy something buy a house or even raw land.

m

Just curious but what's the reason for this? Do they appreciate better? I think the reason so many people look for condos is the perception it's easier/safer to manage remotely. I know management companies rape you but at least your not having to go out and find a gardener, find a property manager, etc. Also I think there's some security in being in a property that's being overseen as opposed to a house where someone could go clear out all your stuff if your not keeping an eye on things

I am heavily invested in real estate and have been involved with it in one way or another all my life.

In general condos / town homes are less desirable as investments than single family or even because they tend to appreciate at a lesser rate, are the first to be negatively impacted in a down cycle, and the last to recover in an up cycle. There are exceptions of course (Manhattan and other luxury markets).

One often over looked issue is that of the HOA's reserve funds. When you buy a condo you pay monthly HOA fees. If the HOA does not properly manage those finds and have the appropriate funds in reserve then the owner pool can get hit with a "special assessment" for unexpected repairs for say latent construction defects or roof repairs. This can be thousands of $

A professional "HOA reserves study" (or similar) is an essential part of your due diligence

Not trying to be an alarmist but all real estate has risks as well as potential rewards. Local market knowledge is absolutely vital. Spend time talking to local expat owners and professionals before making an investment. Really understand what youre getting into before forking over hard earned money...especially in foreign market

[doc holliday]

Going down there on Sat for a few days and was just there in March. The whole area is beautiful and I could see myself spending a few months out of the year there when I'm older, rentals being plentiful down there. A lot of expats do buy down there but I'd be hesitant to do so. Renting means you can leave whenever you want and in a place like Mexico where security is a bit of a wild card, I think buying is not a great idea. If you needed to bug out for whatever reason and owned a place, getting rid of it could be tough. Still, it is a beautiful place to go to and very close to the US, very easy to get to. Lot of stuff to do, both party wise and culture/nature wise. Can definitely understand the allure of owning a place there.

[Robert Plant]

Interest rates are going up most places in the world, therefore this is a terrible time to buy real estate and bonds in most places.

You wanted to be buying real estate from 2008-2012. Right now you want to be renting.

[jbkunt2]

Still tempted. What a beautiful part of the world is...

Main reason for owning would be to inflate my ego even more...

[hellogoodbye]

For 200k you could build like a whole resort on a beach in Madagascar or Mozambique, safer places and probably less corrupt too.

[scotian]

I was in Tulum a couple of weeks ago and they’re having serious issues with massive amounts of seaweed washing up on the beaches, it’s really bad.

[Tail Gunner]

(01-09-2018 06:06 AM)3extra Wrote:  

Worth reading:

"How rich hippies and developers went to war over Instagram's favourite beach"

https://www.theguardian.com/news/2017/ap...rite-beach

Great article. It shows why buying any real estate in Mexico, especially near the coast, is foolish -- unless you are 100% sure that you have full title to the property. In general, it is foolish to invest in any country that lacks the rule of law (unless you are already well-diversified and are simply using excess capital, which you can afford to lose, to speculate). Mexico, which has vast resources, is poor for good reason. It is sad to say that if Mexico had kept California, it would be very poor and dysfunctional today (meaning far more poor and dysfunctional than Jerry Brown / Gavin Newsom socialist California).

[SaintLaurentJake]

(01-12-2019 02:27 AM)Tail Gunner Wrote:  

(01-09-2018 06:06 AM)3extra Wrote:  

Worth reading:

"How rich hippies and developers went to war over Instagram's favourite beach"

https://www.theguardian.com/news/2017/ap...rite-beach

Great article. It shows why buying any real estate in Mexico, especially near the coast, is foolish -- unless you are 100% sure that you have full title to the property. In general, it is foolish to invest in any country that lacks the rule of law (unless you are already well-diversified and are simply using excess capital, which you can afford to lose, to speculate). Mexico, which has vast resources, is poor for good reason. It is sad to say that if Mexico had kept California, it would be very poor and dysfunctional today (meaning far more poor and dysfunctional than Jerry Brown / Gavin Newsom socialist California).

Why are there still so many American expats moving to Mexico (Puerto Vallarta, San Miguel Allende, Mérida etc) then? Not doubting your statement but it seems like theres still a lot of gringos moving there.

[Tail Gunner]

(01-14-2019 11:53 PM)SaintLaurentJake Wrote:  

(01-12-2019 02:27 AM)Tail Gunner Wrote:  

(01-09-2018 06:06 AM)3extra Wrote:  

Worth reading:

"How rich hippies and developers went to war over Instagram's favourite beach"

https://www.theguardian.com/news/2017/ap...rite-beach

Great article. It shows why buying any real estate in Mexico, especially near the coast, is foolish -- unless you are 100% sure that you have full title to the property. In general, it is foolish to invest in any country that lacks the rule of law (unless you are already well-diversified and are simply using excess capital, which you can afford to lose, to speculate). Mexico, which has vast resources, is poor for good reason. It is sad to say that if Mexico had kept California, it would be very poor and dysfunctional today (meaning far more poor and dysfunctional than Jerry Brown / Gavin Newsom socialist California).

Why are there still so many American expats moving to Mexico (Puerto Vallarta, San Miguel Allende, Mérida etc) then? Not doubting your statement but it seems like theres still a lot of gringos moving there.

Why do so many people vote for socialism? Why do so many people eat food that slowly kills them? Why do so many men date fem-nazis. Like so many other things in life, the answer is that many people are simply incapable of well-reasoned thought.

Having said that, there is absolutely no reason not to live in Mexico. You simply need to be cautious and live there on your own terms. Live as a PT. If anyone busts your balls, just pack up and leave. True freedom is available for rational-thinkers who seek it out -- and who actively minimize the amount of power that others can exercise over their lives.

[Jaydublin]

(01-11-2019 02:08 PM)scotian Wrote:  

I was in Tulum a couple of weeks ago and they’re having serious issues with massive amounts of seaweed washing up on the beaches, it’s really bad.

Yea, the sargassum is concerning. Seems to have been going on about 10 years. Summer 2015 was the worst it had been up until that point then it was a little better the next 2 years. This pst year has been horrible. I won't be going back this coming summer.

They better get this shit under control. I don't want to see what happens when the tourism revenue down there gets cut by 35-50%, it won't be good.

[Tail Gunner]

(02-02-2019 06:15 PM)Jaydublin Wrote:  

They better get this shit under control. I don't want to see what happens when the tourism revenue down there gets cut by 35-50%, it won't be good.

When investors panic (or capitulate to a long-term negative event) and sell their investment properties, it presents a good time to buy. Always invest when blood is in the streets (or the sargassum is on the shore).

Interestingly, this problem has gotten so bad that people are now building low-cost sargassum-adobe houses.

Quote:

By mixing the seaweed with adobe, Omar Vázquez Sánchez has built a two-bedroom, earthquake and hurricane-resistant home in just 15 days.

Two more sargassum houses were due to be built this month in Leona Vicario, a community in the municipality of Puerto Morelos. Vázquez said that the homes will be given to low-income residents.

He added that a Cancún resident had approached him to ask about the cost of building a home —70,000 pesos (US $3,700) — with a view to funding 40 more sargassum-based abodes.

https://mexiconewsdaily.com/news/beaches...-year-end/


Someone is even building a hotel from it.

Quote:

Sanchez said the hotel would be built in Tulum using the sargasso bricks, providing a way to eliminate the seaweed from the beaches while also providing the nation with new building material.

As the owner of the Blue Green nursery in Puerto Morelos, Sanchez revealed the project would be environmentally friendly and could be used to provide affordable housing for low-income families.

“We can say that it is cheaper because of the type of material used, and this will help to counteract the presence of marine waste on the coast, since as we know, it exceeds several tons and is not a good use for many other things,” Sanchez told the Riviera Maya News.

https://www.travelpulse.com/news/hotels-...assum.html

[Jaydublin]

(02-02-2019 07:20 PM)Tail Gunner Wrote:  

When investors panic (or capitulate to a long-term negative event) and sell their investment properties, it presents a good time to buy. Always invest when blood is in the streets (or the sargassum is on the shore).

Tulum is a developing beach town in Mexico(near lawless country) so I wouldn't be so quick to think of investing JMO. One of the reasons it is mostly safe now is due to tourism dollars. Take those away and things change and you can't fix a bad reputation overnight. If they don't get the sargassum under control Tulum will go back to being a small town close to the beach except now with a bunch of shell buildings full of mold. The electric grid issue in Tulum is serious. Any building would be a mold fest in a couple of years. Then the real decaying would begin.