All Forum Posts by: Juan Mora

Has anyone done this before ? The land is currently  pretty much all. jungle 

would a 2 bedroom home be the best option or would you guys try to build 1 bedrooms 

Lot Size 350m2
Lot Price: $30,000

Construction: $100,000

20% Down Payment and 48 months; 0 interest.

We are looking at getting our first Short Term Rental in Tulum Mexico.  This would be in a new development that is selling lots right now.  I attached the following link to their website.  I believe they are on phase 2 currently with delivery around 2025.  We would start paying off the lot this year and be done in 3-4 years. WE plan on building a 2 bedroom home that we an AirBnB.

https://viventum.com.mx/

Our goal would be to visit the property twice a year (November and March) and rent it the remaining months.  This location would not have running water or sewer.  Water would be by those tanks you put in a well and sewege would be septic tank.  

Hi Dan

This particular property does have some emotional value since it was our first home where our kids grew up.

My intention was to keep it in the family and pass it down to my daughter.

I was hoping to get some cash flow when I retire in 10 years. 

Thank you guys. 

I am selling the condo specifically because I do not like to deal with HOAs. They have increased their dues to over $600 a month. It’s crazy and I want out. 

Now, I wanted to hear opinions on what to do with the cash once I sell it. 

It sounds like paying off my OTHER rental where I owe 350k doesn’t make much sense either cuz it’s only at 2.75 either. I’m actually considering refinancing to 30 years and taking cash out; maybe 250k since it’s valued at 660k. 

San Diego CA 

My father passed away a couple of years back and we recently finished distributing his estate. My father left me a $300k condo that I am in the process of selling this spring. 

I don’t know what would be best to do with the money. 

I have a rental property that I purchased back in 2005 for 500k. It started as my primary residence but turned it into a rental 10 years ago. It has a value of 600k and I owe $350k (APR 2.75) on it. Rental income is $2700/month and mortgage is $2800 with 14 years left on it.

I was hoping to find a rental property that made sense either in Arizona or Nevada but I feel the market is due for a reset. 

Should I just pay off the rental and own it fair and square and pocket my rental profit or look for another rental. 

A buddy of mine recommended this site and said I should refinance the full 600k and buy 2-3 properties out of state so I own 4 instead of just 1. 

Thoughts ?

Age 39 

Cash: 160k

Retirement :140K

Salary: 150K