All Forum Posts by: John Farkas

I think it is rare for a foreigner to get bank financing in Mexico. My condos in PDC I paid cash. My condo under construction in Tulum I paid 30% down and the developer is financing me for the balance of 70%. It was a special deal that me and my RE agent each bought a condo with financing. Maybe find a good agent and have them look around for developer financing.

Quote from @Rossitza Iovtcheva:

I am an architectural designer looking to get involved in the real estate investing world and find this group to be so inspiring! I have yet to jump in as I am working towards gathering the funds and learning more about how to pick the right property.

I was wondering if anyone has invested internationally. I am considering investing in Mexico as the cost for land/new construction is lower (easier to get started) and I have a few connections there.

Anyone have any insights to share?

I am invested in several countries. Of course you need to do your own research and understand the process and costs. After 5 years experience I am happy with my investments in Playa Del Carmen Mexico and Phnom Penh Cambodia. The operational expenses are very reasonable. I am also bullish on my land investment in Ambergris Caye Belize. The property tax in Cambodia and Mexico is .01%. I paid $76 USD last year for my condo in PDC near the beach, walking distance. There are many places that are investable in the world, do your own research. The biggest advice I can give you is to find a great agent that can advise you well and help to find a Property Manager. You need a good agent and a good property manager.

time shares are stupid 99% of the time. You will lose money and own nothing.

money is money. rent to him and maybe develop a relationship so that he refers his workers to you then buy more real estate

Hi Zachary,

I would go for it. You are young and have a lot of time to recover if it does not work out well. For me personally, buying my first condo in Mexico I had a hard time pulling the trigger. I wanted to know my exact ROI. Now I have learned that you will only know your ROI after the fact and that some months are better than others. There were months that I made $2000 and there were months where I lost $500. This is where i am flexible between LTR and STR. you make more money with STR as long as it is occupied, but when I lease out my place for 1 year I am always making money every month. How did you come by this paid off house? Where are you located? If you are not nearby the house then you will probably need a Property Manager. My condos are run by my PM. I do not do anything except check the monthly income and expenses spread sheet. I only manage my manager. She advertises on many platforms including AirBNB, VRBO, etc. She has a business and network so she also gets bookings that way. The PM is the most important piece of the puzzle once you already have a place. A good PM will make your life easier and a bad PM will make you want to sell your place. True story I almost wanted to sell my place and my agent told me to change PM and now its all good.

Hi Zachary,

Sorry, but I have no answer for you in regards to the Philippine market. I am interested to hear if anyone else does. If you already have a house there and it is sitting empty doing nothing then why not furnish it and put it up as a LTR or STR? I do have some experience in international LTR/STR. I have 2 condos in Playa Del Carmen that I rent LTR/STR. I am flexible when it comes to LTR/STR and both condos have been rented under both conditions. One thing that I have learned is that you cannot predict the market and future and sometimes you just need to go for it and learn as you go in the international market. I think the biggest concern is location. Is it near the tourist area or the beach? If it is in the residential neighborhood then maybe only locals would want to rent and the rents might be lower.

Quote from @John Mucilli:

Quote from @John Farkas:

I got started remote investing by doing research on the internet. I have been able to buy several off plan condos in different countries. I own zero real estate in the US. So far so good and no major problems.

 Wow, out of the country? What made you go in that direction?

I have always had international interests. I plan to retire outside the US in 4 years. Currently invested/investing in Mexico, Belize, Cambodia and Thailand. The world is a big place. US is too expensive in my opinion.

I got started remote investing by doing research on the internet. I have been able to buy several off plan condos in different countries. I own zero real estate in the US. So far so good and no major problems.

Have you considered Mexico?

Originally posted by @John Underwood:

Excel

Very powerful and customizable. 

I track over 20 properties. Tab for every property. Summary tab that pulls in key data for all properties.

I agree. I use and like excel