All Forum Posts by: Eric Delcol

@Aaron Gordy
I’ve heard so much about what you’ve just described that I had to visit Texas myself. I can attest the growth going on there.  My fear for Texas is that it will turn into California and embody all of the things people are fleeing - high taxes, bureaucracy, rent control, etc.  

As a Texan, can you comment on what changes you’ve seen in the past decade with the large influx of immigrants and in-migrants?  

 I compiled the post from a few sources but here’s one that talks about the main points:

https://www.latimes.com/world-...

I love the census report.  Finally the 2020 census is here and there are some interesting data points! If you’re deciding on a new market you may find this data useful in aiding your decision.

States with the highest percentage growth:
Utah

Idaho

Texas

North Dakota

Nevada

Fastest growing cities 

• The Villages, Fla.
• Austin-Round Rock-Georgetown, Texas
• St. George, Utah
• Greeley, Colo.
• Myrtle Beach-Conway-North Myrtle Beach, S.C. and N.C.

cities with the largest growth 

• Phoenix
• Los Angeles
• Denver
• Jacksonville
• New York
• Charlotte
• Columbus
• Oklahoma City
• Austin
• Dallas
• Fort Worth
• Houston
• San Antonio
• Seattle

I particularly like to look at In-migration data as that is driven by internal push/pull factors that drive growth (eg condition of the economy, taxes, cultural changes).   

Most of us are aware that California is losing residents to other states such as AZ, OR and TX.  Elon Musk, Joe Rogan, Toyota, and a drove of former golden state residents have left for Texas citing a lesser tax burden and easier political climate when it comes to regulation.  

The Texas triangle of Dallas, Austin, Houston can be clearly seen on the map when it comes to cities with significant growth. 

Florida continues to draw on New Yorkers and other former Northeast residents to escape the cold and call the sunshine state home.  The only major county in the state that has not seen a significant inflow of migrants is Miami-Dade.  

Tampa, Orlando, West Palm Beach, Pamela city, and Jacksonville have all seen large increases in population.  

A surprising state that is seeing large influx of in-migration is Idaho.  Affordability and Boise’s goal of becoming the next Silicon Valley are key drivers.

The pandemic has altered life significantly, including where one chooses to live.  Although there were no major macro changes affecting peoples residency choices in the 2010-2020 decade we still saw large percentage changes from North to South and West states.  Will this trend be accelerated with work from home normalized? Will suburbs lose their appeal with gas prices doubling from 2021-2022? Will demand for city living wane as delivery services expand and become more accessible?  We won’t know the data until 2030.  

Until then, please share your thoughts!  Where do you think people will be moving to in the coming decade?

@Mike Lambert

Thank you for the detailed reply.

What I’m looking to do is purchase a vacation home that I can rent out most of the year as a short term rental.

I’m currently eyeing La Paz and Ensenada as potential locations.

I’ll probably pay cash as I’ve heard the mortgage process for foreigners is achievable but rather difficult.

As the cities I’m looking at are in the restricted zone - I’d like to learn about what are the differences between owning in a bank trust (as required for foreigners) vs your personal name. Ive learned that you have all the rights to the property and can pass the property down as inheritance. I’m curious to know though if there’s something else that is not as common knowledge.

How are the laws in terms of short term rentals?

Would you recommend owning a condo with an HOA or a stand alone property?

You mentioned about building your team (real estate agent, lawyer) - Ive heard that agents are not licensed and that simply anyone can be a real estate agent (is this true?) where is a good place to start with finding a reputable agent and lawyer?

Thanks so much for the info! Very helpful so far.

Would love to hear from anyone who owns Mexico property and their experience and how it differs from buying in the US.

How did you find the buying process?

What are some rules / regulations that are different than in the US?

What was unexpected?

What do you love most about owning in Mexico vs the US?

@Steve Basra

how do you get around double taxation if you have your properties in an LLC?

Looking forward to seeing everyone!

@Mikhail Matorra

Send me a PM for the company we use.