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Updated over 2 years ago on . Most recent reply

User Stats

6
Posts
5
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Noelle Geeting
  • Investor
  • Denver, CO
5
Votes |
6
Posts

Buying an STR in Mexico vs multiple here with financibg

Noelle Geeting
  • Investor
  • Denver, CO
Posted

I need help with a big decision. I’m currently under contract (but haven’t put any $ down) on a property in a great location in Playa del Carmen Mexico. It’s $330k plus $20k in closing costs. Cash deal. Rents for around $3000 p/m short term with low overhead. I’m very familiar with the area and have lived and stayed in the neighborhood many times. I’m a resident with a Mexican company to buy under which makes it easier. I do currently live in Denver primarily but spend significant time in Mexico still. 

Is this a wise decision? Or should I pull this money out of my Mexican bank account and use it here in the US? I’m trying to expand my rental portfolio. Ideally in both countries. I worry about having all my cash tied up in one property but also don’t love the interest rates. What’s a better play long term? 

I do have the option of a cash-out refi in Mexico after purchase if I want to go that route but interest rates are around 10% there…


I'm relatively new to REI but I have been following/interested in it for years. I currently have one single-family rental in the Denver area. Advice please!!

  • Noelle Geeting
  • Most Popular Reply

    User Stats

    65
    Posts
    61
    Votes
    Sebastian Papworth
    • Real Estate Agent
    • Tulum Mexico
    61
    Votes |
    65
    Posts
    Sebastian Papworth
    • Real Estate Agent
    • Tulum Mexico
    Replied

    Hello @Noelle Geeting

    I have been living and investing in Playa del Carmen for 10 years now and I know pretty much every building and developer in town. 

    If you give me more info on a DM I can share my opinion on the property and the long-term ROI and appreciation potential.

    The current ROI seems good is that $3,000 USD a month net or gross? Long-term or short-term?

    If you are feeling a bit worried about this investment maybe you should start with something smaller with a similar ROI and try the Playa market with a lower price point, that's an advantage here you have properties that start at around $100K USD.

    Sunny regards, 

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