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All Forum Posts by: Jim Munoz

Jim Munoz has started 2 posts and replied 4 times.

Post: Buy and hold multi-family in Tijuana, Mexico

Jim MunozPosted
  • Simi Valley, CA
  • Posts 4
  • Votes 0

Thank you @Gustavo Munoz Castro, @Jose Guevarra and @Dan Heuschele for all the great feedback. It is has given me a lot to consider and it has been helpful, appreciate it... 

Post: Buy and hold multi-family in Tijuana, Mexico

Jim MunozPosted
  • Simi Valley, CA
  • Posts 4
  • Votes 0

Thx for the reply Gustavo. Tj has definitely changed a lot in recent years and hopefully it will continue to grow and improve... Would really appreciate any referrals you could send my way. 

Thx as well Jose... The situation is a bit complicated and would love to discuss more but would be difficult to articulate all the quirky details in a brief post such as this. In short, the property has already been made available to me through a close relative. I'm not trying to buy anything, much less birddog it. Unfortunately, he is not what I would call a savvy nor an organized investor. He's had the property for years and just "made it work." The idea would be that I run it, refurbish as I go (needs lots of work) and eventually take over. But like I said in the earlier post, I don't know where to start. I want to do it as efficiently and by the book as possible. Just looking to get as much info before diving in; specifically from boots on the ground, as opposed to just going by what I've read on various websites. 

Exit strategy? I need a Soup-to-Nuts strategy!

Also, my family currently owns and rents property here in the states and we've done it for years. Granted, on a small scale (we all still have day jobs), but we've done it. I also speak Spanish and I have dual citizenship... Trying to learn as I go or working in a foreign country like Mexico is not the problem. Establishing a working, trust-worthy network quickly and learning the ins-and-outs sooner rather than later, that's been the problem. Thx again for your reply...

Post: Buy and hold multi-family in Tijuana, Mexico

Jim MunozPosted
  • Simi Valley, CA
  • Posts 4
  • Votes 0

A possible lucrative real estate opportunity with great potential has literally fallen into my lap in recent weeks. The difficulty is that the property(ies) are located in Tijuana, Mexico and I just don't know where to start. If there's anyone here on BP who is experienced in real estate dealings in TJ (i.e., State appointed Notario Publico, Local Realty Agents, Local Real Estate and/or Tax Lawyers, etc.)  or know of anyone with information about deeds, property valuation, local real estate tax laws, land service fees, liens and the like, (preferably working in Tijuana or San Diego County area) please let me know. Thx

Post: New Member from Southern California

Jim MunozPosted
  • Simi Valley, CA
  • Posts 4
  • Votes 0

Hi, my name's Jim. I live in Ventura County, California (about an hour drive north of LA). I'm a complete newbie to the real estate game and currently entrenched in the education phase of investing. 

I've been a renter for over 13 years now and after my latest rent hike I decided its time for a change. So my first priority is to get into my own primary residence. My plan is to continue to save for a down payment and in approx. ten months purchase my first home. My hope is to find a single-family (preferably a 3bd-2bth) in my hometown that I can slowly rehab and eventually, have the option to, rent out in the future. Unfortunately, as most of you know, home prices are outrageous here and finding a suitable home that I can then turn into a cash flowing buy/hold seems impossible, but I'm looking. 

Step two in the plan would be to refinance my residence and purchase my first property as an investor. More than likely, this property would be an out-of-state purchase, perhaps a multi-family, depending on my options, and implementing a buy/hold strategy. 

I've read countless posts and blog articles on BP regarding this topic but any advice you could impart for a beginner starting out would be great. In particular, I'm curious about what to look for as a first-time home buyer with an eye on investing (specifically if you live in California) and out-of-state investing advice including how to research and what to look for when prospecting a state/county/neighborhood you know nothing about?   

That said, I also welcome any general information, guidance and/or advice that you think would be helpful to know when starting out. I have about ten months or so to get ready so anything you think I should know now, before I take the plunge, would be greatly appreciated. 

Look forward to hearing from you. Thx