Gracias Sr Luis. Por este vídeo. Hablas muy bien inglés. Ya hemos hablado al inicio este año. Estamos en contacto para invertir En Mazatlán. Gracias por tus vídeos. Que tengas una feliz Navidad y un próspero año nuevo Gracias
Hi Luis, I am looking to buy a Condo for retirement. What are the steps to purchase and requirements for down payment and can Americans get loans? Thank you and your English is impeccable!!
Hi Terri! Thanks for watching my videos. The steps really depends on the type of property youre buying. For example if you buy a condo on presale, the steps for amaricans are: 1) Payment to lock the price. 2) Sign a pre-sale contract. 3) Make a downpayment. 4) Wait until you condo is finished. 5) Make final payment to complete the value. 6) Go to a bank to elaborate a "Trust" (fideicomiso). 7) Receive your condo If you buy an already build property the steps are: 1) Make a deposit to the owner to hold the property (around 10%). 2) Go to the bank to get a trust. 3) Complete the full payment and receive the property. There are a few banks that do offer credits for foreings, however, interest rates in Mexico are not quite low. Most of the mortages we have are around 10% to 14% interest rate anually :( so a lot of people preffer to get a personal loan in USA instead of Mexico.
What are the condo association fees like in Mazatlan? Generally it’s a high risk due to associate fraud or mismanagement of funds. Realistically, what can we expect from condos in a market that is not as developed?
I totally understand your concern. But association fees are not a big issue here in Mazatlán. It is true that our city is not a high developed market, however we have a lot of foreigns living here since 20 or 30 years ago, and most of the residences are quite well managed. That is why Mazatlan is one of the best cities to retire in thw world. Thanks for watching my video :)
Los americanos, canadienses y extranjeros tienen décadas comprando propiedades, viviendo y vacacionando en Mazatlán. Si fuera un lugar muy inseguro, estamos de acuerdo que no estarían ellos aquí. Por otro lado los grupos organizados que mencionas existen en todos los países tanto latinoamericanos como norteamericanos. Si fuera algo que afectara a Mazatlán, la ciudad no estaría creciendo al ritmo que lo hace ni recibiría tantos turistas año con año. Pero te agradezco tu comentario y por estar al tanto de mis videos. Un abrazo!
You have to be a realtor to promote real estate right now. Close to 300% increase in interest rates from 4% to 11.5%. Deprciation in USA dollar by 15%. Canadian dollar 20%. Developers are getting wiped out right now. Huge labor cost increase and huge material cost increase for Mx developers. Dont buy pre sale and dont buy a condo or Townhome that has been built in the last year as the developers will be looking to cut costs as much as possible to make up for the huge cost increases..
Thank you for your comment, I really apprecciate it. I believe, as in most cities, there are good projects to invest, and bad projects too. My job is to find those good deals and bring then to the investors. But you are right about the depreciation and the materials cost.
Mucho éxito Luis. Saludos. Ya se lo mandé a mis amigos aca
Saludos amigo!!
Gracias Sr Luis. Por este vídeo. Hablas muy bien inglés. Ya hemos hablado al inicio este año. Estamos en contacto para invertir En Mazatlán. Gracias por tus vídeos. Que tengas una feliz Navidad y un próspero año nuevo Gracias
Igualmente feliz navidad y gracias por tu comentario Mario, saludos!
Hi Luis, I am looking to buy a Condo for retirement. What are the steps to purchase and requirements for down payment and can Americans get loans? Thank you and your English is impeccable!!
Hi Terri! Thanks for watching my videos.
The steps really depends on the type of property youre buying. For example if you buy a condo on presale, the steps for amaricans are: 1) Payment to lock the price. 2) Sign a pre-sale contract. 3) Make a downpayment. 4) Wait until you condo is finished. 5) Make final payment to complete the value. 6) Go to a bank to elaborate a "Trust" (fideicomiso). 7) Receive your condo
If you buy an already build property the steps are: 1) Make a deposit to the owner to hold the property (around 10%). 2) Go to the bank to get a trust. 3) Complete the full payment and receive the property.
There are a few banks that do offer credits for foreings, however, interest rates in Mexico are not quite low. Most of the mortages we have are around 10% to 14% interest rate anually :( so a lot of people preffer to get a personal loan in USA instead of Mexico.
What are the condo association fees like in Mazatlan? Generally it’s a high risk due to associate fraud or mismanagement of funds. Realistically, what can we expect from condos in a market that is not as developed?
I totally understand your concern. But association fees are not a big issue here in Mazatlán. It is true that our city is not a high developed market, however we have a lot of foreigns living here since 20 or 30 years ago, and most of the residences are quite well managed.
That is why Mazatlan is one of the best cities to retire in thw world.
Thanks for watching my video :)
Vendiendo le tierra a estadounidenses bien pero no se les olvide que está lleno de carteles en mazatlán
Los americanos, canadienses y extranjeros tienen décadas comprando propiedades, viviendo y vacacionando en Mazatlán. Si fuera un lugar muy inseguro, estamos de acuerdo que no estarían ellos aquí.
Por otro lado los grupos organizados que mencionas existen en todos los países tanto latinoamericanos como norteamericanos. Si fuera algo que afectara a Mazatlán, la ciudad no estaría creciendo al ritmo que lo hace ni recibiría tantos turistas año con año.
Pero te agradezco tu comentario y por estar al tanto de mis videos. Un abrazo!
You have to be a realtor to promote real estate right now. Close to 300% increase in interest rates from 4% to 11.5%. Deprciation in USA dollar by 15%. Canadian dollar 20%. Developers are getting wiped out right now. Huge labor cost increase and huge material cost increase for Mx developers. Dont buy pre sale and dont buy a condo or Townhome that has been built in the last year as the developers will be looking to cut costs as much as possible to make up for the huge cost increases..
México is growing and the president is doing a lot of things and projects. Less corruption and nearshoring are making Mexico what it should been.
Thank you for your comment, I really apprecciate it. I believe, as in most cities, there are good projects to invest, and bad projects too. My job is to find those good deals and bring then to the investors. But you are right about the depreciation and the materials cost.
Thats right, at least in Mazatlan has been a big growth in the economy, tourism, and real estate industry