All Forum Posts by: Artur A.

My air conditioner has stopped working. My property manager provided a quote for repairs. What's your opinion on this quote? The furnace is also old. Would it be better to replace the entire HVAC system? Or would it be more cost-effective to replace just SEER condenser and evaporator coil for the AC?

 Thank you for your input

1. Even for smaller orders?

@Jessie Dillon @Michael Smythe

Maintenance expenses are 40% (without PM).  Sorry, images didn't load

Hi Everyone,

I'm facing two issues with my rental property and would appreciate your insights:

1)Property Manager Transparency: My property manager doesn't readily share details or invoices for expenses, instead asking me to contact them directly. Is this lack of transparency normal or a red flag?

Examples:

2)High Maintenance Costs: My 1910 property's maintenance costs are about 30% of its income. Is this typical for such old properties, or excessively high?

Thanks for any advice or experiences you can share

@Mike Lambert @Bruno Demarco Quiroz

I've heard that in order to legally rent out property on Airbnb, VRBO, etc., in Mexico, I need to be a resident. Can anyone confirm or provide more details on this? Any insights would be greatly appreciated!

@Bill B. @Michael Smythe

Please let me know your opinion. Uploaded expenses to Google Docs:
https://drive.google.com/drive/folders/1xoM8cGiFsapDKIffgGTt...

@Mike Lambert @Bob Stevens

Thank you for your replies

How do you manage tax obligations in the US and Mexico for short-term rentals and property sales? Are there concerns about double taxation?

@Bob Stevens

Hi guys

I've been diving deep into potential real estate investment opportunities in Mexico, and I wanted to share some of the data I've gathered. I'm hoping to spark a discussion on where the best areas to invest might be, based on ROI from short-term rentals and annual real estate appreciation.

1. Baja California Sur (Cabo San Lucas):

• Short-term Rental ROI: Potential returns of up to 18-20%.
• Annual Real Estate Appreciation: Estimated at 10%.

Cabo has always been a hotspot for tourists, especially those from North America. The high ROI on short-term rentals suggests it's still an investor's paradise. The annual appreciation rate shows a promising, steady growth potential in property values.

2. Yucatan State (Merida and surrounding areas):

• Short-term Rental ROI: Ranging from 8% to 13%.
• Annual Real Estate Appreciation: An impressive 15%.

Merida is gaining momentum among international tourists and investors. Its rich history, combined with modern amenities, seems to strike a balance. The high appreciation rate suggests a robust and growing market.

3. Riviera Maya (Stretching between Cancun and Tulum):

• Short-term Rental ROI: Between 8% to 13%.
• Annual Real Estate Appreciation: A more modest 4-7%.

While the appreciation is not as high as other regions, the steady ROI from rentals indicates a stable and mature market.

I'd love to get feedback from those who have invested or are considering investing in these areas. What are your thoughts on these numbers? 

What are the risks and recommendations for purchasing apartments directly from developers in areas like Yucatan (Merida, Cancun) and Cabo San Lucas, Mexico, bypassing agents to cut costs? 

If I have 5-10 potential clients (5-15 apartments), should I consider hiring a lawyer or investigating the developer's reputation?

Hello BiggerPockets Community!

I hope this post finds you all in good spirits. I'm currently working with a property management company in Cincinnati, Ohio and I've noticed a few discrepancies in my account statements. Before jumping to any conclusions, I thought I'd reach out to this knowledgeable community for guidance.

Would anyone here be willing to go through my property management account, scan all the expenses, and share their opinion? I'm trying to determine if my current management company is genuinely legit and efficient or if I might be better off looking elsewhere.

Some things I'm curious about:

1. 1. Are there common "red flags" to watch out for in such accounts?
2. 2. How do the expenses of my current company compare with industry norms?
3. 3. What experiences have you had with property management companies, and what should I be wary of?

I genuinely appreciate any advice or recommendations. Switching to a new company is not a light decision, and your insights will be instrumental in helping me make an informed choice.

Thank you in advance!

Best,

Artur

could you elaborate more please?

@Eliott Elias