All Forum Posts by: Gerardo Alejandro Velasco Oramas

First of all, hello to everyone new user from Mexico, I'm currently 31yrs old and for the past 6 months I've been fascinated by real estate, getting a lot of info, reading everywhere I could about it, so logically I tried to incorporate that to my future plans but found out that at least where I live, there are only three options when it comes to buying real estate, either you are left in a huge debt in a good neighborhood, you kinda break even in a less than good neighborhood (which is not worth the time) or you just can't find anything, if there's someone here that has more experience than I do I would love to hear from you, also can I as a Mexican citizen buy US properties any info on that too would be greatly appreciated.

@Faridy Nathan I think your best bet is to contact independent real estate agents that know people mostly wanting to get rid of their properties and do a flip on them, I've been looking for deals for the past 3 months in my town and there's nothing that will leave a positive cash flow, my best find lately would have left me on the same level even though I calculated to increase the rent, Mexico's real estate market is kinda hard, not saying impossible but definitely hard

@Fernando Garza like someone else told you foreclosures in Mexico are almost guaranteed to be scams, my father in law made his money by building apartment and multifamily complexes in San Luis Potosí and Querétaro way before I married my wife, when asking for advice lately since I've been wanting to start investing in real estate he just told me: The market is closed if you don't have enough money and banks are not an option, with an interest rate varying from 10-12.5% on a loan it is not advisable to try and buy, best bet is investing on the land and build your own complex on it hoping it will go up in value, I'm still new at all the real estate business, so if anyone else from Mexico has advice it is greatly appreciated.