Investing in Playa Del Carmen Mexico CREATIVE!

[Sean Mathes]

Hello everyone, I am new here and excited to be a part of the community. Right now I am living in Playa Del Carmen and looking to buy some property. I have been a real estate investor for 10 years, I own property in Colorado currently. I am especially interested in acquiring properties with mortgages in Mexico. I am not sure this is possible, but there is a concept called Traspassos here which is similar to a mortgage assumption. Would love to network, talk and discuss strategies with anyone. Thanks and looking to hear anyones thoughts. Skype is also a great way to talk with me. 

[Jessica Lakritz]

Financing for properties is Mexico in 2015 is definitely available through a number of mortgage brokers. You can either do a US Dollar loan, which his easier and faster, or a Peso loan through a Mexican bank, which requires a migration visa and establishment credit and banking history in Mexico. If you're interested in acquiring a condo through a commercial group, often times, they will be connected with mortgage brokers to make the process even easier for buyers. An example of one company is Mexlend. They are a particularly awesome (in my opinion) because they are a company that has been actively fighting for financial equal rights for the GLBT community for awhile now. 

Here's an article about this: http://www.mexlend.com/2015/05/mexlend-proudly-spo...

Certain companies even offer interest-free financing if paid off upon completion of a property for presale options. Here is an example: 

1) (30-40-30):

Down Payment: 30%

Payment during 12 months: 40%

Upon Delivery: 30%

2) (50-20-30): 3% off

Down Payment: 50%

Payment during 6 months: 20%

Upon Delivery: 30%

3) (80-20): 5% off

Down Payment: 80%

Upon Delivery: 20%

Right now, for example, I know there are 2br penthouse properties in downtown Playa with an ocean view and all the luxuries any American could ever want for around $300,000 USD. That means $100,000 down for a property that has real ROI potential, especially because there are not many properties around that are available that have an ocean view. I know of other luxury condos downtown that go for around $100,000 for a studio or 1br unit, also with great ROI potential. For these kinds of properties, financing through an external company would probably not be necessary. Other types of investment (in land in private developments, or in a house in a place like PlayaCar) where the ticket price on the house is upwards of $500,000, financing through a mortgage broker like Mexlend or several others wouldn't be a problem.

Hope that helps with your question about mortgages!