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Updated almost 3 years ago,
Fouplex investing in Tijuana Mexico. Does anyone have experience?
Hello guys, My name is Pollyanna. I am new to BP community.
I live in San Diego, CA
My family owns a fourplex and a house in Tijuana, Mexico. It is in a good area, close to US border, shops, restaurants...basically everything.
I am a dual citizen and perfectly speak Spanish.
All units used to produce good income when my grandma was taking care of it. But for the last 10 years the property just stays there vacant.
All units need some TLS. I already met up with a couple of contractors and , according to them, the renovation cost gonna be maximum $50K.
Monthly gross Income should be around $2600-$3000K.I am really interested to jump into this project and become a rental property investor.
But honestly, I am afraid.
I'd have to borrow the money from private investor or so. I never done that before.
Does anyone here have any experience investing in Tijuana?
Maybe you can recommended me where to start?
Are there any pitfalls I should be aware of?
Any advise would be appreciated.
Thank you guys