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Updated over 2 years ago on . Most recent reply

Buying an STR in Mexico vs multiple here with financibg
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!!
Most Popular Reply

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,