All Forum Posts by: Aaron Logan

Quote from @Bonnie Low:

Oh, boy. You're very generous and considerate but I fear you're inviting liability. First, our lease agreement for MTRs says anyone staying overnight must be on the lease. We don't live in the space, so of course there's no way to know if they're violating it, but it at least sets that as a rule they agree to should a problem arise. Second, if you have multiple, unrelated tenants (like the boyfriend/girlfriend/travel nurse) situation, I see potential trouble on the horizon. If you haven't run a background check on the boyfriend, how do you know you're providing a safe situation for your travel nurse guest? Even if the background check comes back fine, there still could be boundary issues. Not only is that drama I wouldn't want to deal with it, it's potential liability if someone misbehaves. 

Very good points. Thank you!

Quote from @Nicholas Coulter:

@Aaron Logan I did 4 overnight guests per month. I shared it was for safety and utilities reasons! I have had 0 issue with it!

Thank you so much!

Hey guys, was just wondering what kind of overnight guest policy others may have when it comes to renting out rooms in your home? I currently rent out 2 rooms in my house. One long term tenant moved out, so now I'm looking to rent out that room to traveling nurses. The other room is occupied by a long term tenant. Her mom has come to stay for a week from out of town, and that went really well. Her mom is super nice and helpful and was great to have around. She's also had a guy stay over a couple nights this last week, after checking w/me. It was fine. She already wants to have him stay over more. I get the feeling she would have him stay over almost all the time if I was ok w/it. I want to make sure I'm being fair all around. I don't want to impose on her personal life, of course. But also, having someone stay overnight repeatedly who is not a tenant feels kind of weird. Trying to find the right balance. And also want to be considerate to the traveling nurses who will rent out the 2nd room. They have a shared bathroom and hallway on that side of the house. Is there a certain number of nights per week or nights per month you guys go with, as far as overnight guests for people renting rooms in your home?

Honestly, yes, you are coming off a bit condescending. And what dirty money are you talking about?? 

I thought I replied to this back in May, but I guess it didn't take properly. I did do my proper due diligence with KASA. I'm absolutely confident in my decision to work with them. I had also been speaking with a different agent at another agency in Tulum (no affiliation) before I chose KASA, and they spoke highly of KASA when I brought them up. The guys at KASA are not shady. I haven't seen anything unethical or dishonest with them. Their KASA Hotel Parota in Tulum is an award winning hotel with Booking .com. Their new hotel in Puerto Aventuras is up for an award with worldtravelawards .com. Great reviews on all the major travel & hotel sites. They're a member of the Small Luxury Hotels of the World organization, which is not easy to get approved for - but which also now means they are on Hyatt .com (Hyatt just recently bought the Small Luxury Hotels of the World). So people can now book KASA on the Hyatt site. I like the plans for Belize and other expansion sites, which is what I'm a part of. No regrets in my decision to work with them.

Hi @Latoya Tomlinson, I'm not familiar with the Kasa Parota issues, but I also haven't bought any condos from KASA. I invested in the fund, which is not connected to their Mexican properties. It starts with their new Belize project, then goes from there to Turks & Caicos and Costa Rica. I have read some stuff about some issues they had in the far past on a development, but that was before they built their current hotels, Kasa Parota & Kasa Riviera Maya. From the hotel side I know they have generally had excellent reviews, but from the condo owners, I'm not sure. I don't know any. I did all the due diligence on them that I could before getting involved in the fund. I knew it was a long term play as well, and wasn't looking for something immediate with them. I'm still on board with them for the new projects, and in fact just had a zoom call with the founder a few weeks ago, going over the current status & plans for Belize. But again, I don't own any condos with them, so I can't really speak to that.

Originally posted by @Latoya Tomlinson:

@Aaron Logan @David Garcia  

Have either of you had any issues with your KASA investments? I recently became interested in checking out some of their new offerings, but as I was researching I saw a few things in the reviews for Kasa Parota in Tulum about a legal battle with some of the owners and locks being changed before hotel guests arrived. Do you know if there's any truth to that, or have you had any of these issues affect your investments so far? Interested to know!

Hi Deisy, this might be outdated info for you now, if you already made a move on a property, but in 2019 I was looking up these links for info on buying a property myself in Tulum. If they are helpful at all?

https://blog.investmentpropertiesmexico.com/investment/buying-real-estate-in-mexico-10-tips-for-investors 
https://www.mexperience.com/realestate/real-estate-finance/ 
https://everythingplayadelcarmen.com/financing-real-estate-mexico/

I also had some good interactions & got some good info from a rep named Paola at https://www.jaguartulum.com/ (she showed me IIK Tulum) and then Mike at https://www.investmentpropertiesmexico.com/. They were both very helpful. I ended up going with KASA Hotels for now, but I'm still interested in getting a separate property of my own down there at some point. I'm doing some flips to raise some cash & need to get down there in person in 2021 to check it out.

You may not need any of this info now if you already bought something, but thought I would share in case it was helpful. :)

Awesome @Deisy P!! IIK looks like a great development.

Originally posted by @Deisy P.:

I actually ended up investing with IIK. Presale as a Mexican citizen. I’m actually excited about this project. It’s centralized and I’ll be going about it a different route than Airbnb. I’ll be applying my social media marketing skills for it. We’ll see how it goes. 

Originally posted by @Aaron Logan:

Thanks @Mike Lambert !! I've been wondering about a lot of that. That has actually been the main cause for my hesitancy.....the number of developments going up in Tulum. I did come across one (named IIK Tulum http://www.iiktulum.com) where they apparently (according to an agent I was talking to) are going to let investors choose whatever property management company they want to use. Or you can use the one connected to the development. So I thought that was good at least, to have options. Looks like an impressive project, too. However, I was speaking with another agent who told me the days of 12%-14% return are prob in the past for Tulum condo rentals. He said it would be more realistic to expect 5%-6%. So I'm considering doing some US rentals instead, as I would have more financing options and could do more than just one property. Haven't fully decided, still mulling it over. It's nice to hear feedback from someone who has been investing down there, so thank you!

It's slow going. They were starting to work on construction on the Belize property in Aug, but then new covid restrictions slowed that down. I've seen the renderings for the Belize property, and they look amazing. But it's going to take a while, which I was expecting anyway. In my mind I was already expecting it to take a couple years before seeing anything, just b/c projects tend to have delays anyway, and these are big projects. Then covid and everything. So yeah. Their Puerto Aventuras location also got pushed back with covid, but it opens Dec 1. That's where I plan on staying when I go down there, but that one is actually not part of the fund. It was funded before.

Originally posted by @April Molina:

@Aaron Logan I hear you! I am always looking to escape from the hectic lifestyle. My team and I are traveling next week to meet contractors; look at land for hotel development on the beach side. Landed on this thread doing research. 

That's awesome!!