All Forum Posts by: Johan Yang

I stumble upon that article too when I was looking for a safe investment with good yield of return.

My first thought was it is a CD savings account that is insured by FDIC. But, there was someone on one of my research pointed out that the CD itself is not insured by FDIC, which was written on their website FAQ:

"The security of the HCF Savings Note is ensured as it is backed by cash and cash equivalent funds that are FDIC insured and an additional $100MM umbrella through Lloyds of London, making it as safe as a savings account or CD."

This product was pretty new launched on 8/22/19. My approach would be to try it out for a few months to a year and withdraw most of the money and then leave a small amount ($1K - $5K-ish).

Hello fellow BP,

I am interested in buying an investment property in Mexico.

I went to Playa Del Carmen last week for 5 days and staying on 5th Ave (tourist area). I like it there that it was walkable to everywhere, so many restaurants, bars, shops (which many were open till very late), the beach is nice, and safe. I haven’t been to Puerto Vallarta. Is it also a walkable place to everywhere?

I saw so many new constructions and saw many brochures about PRESALE condo. I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. 

Should I hire a lawyer before doing that (paying $5K to hold the unit)?

Do I need to find a RE lawyer who lives in PDC?

Does anyone know any great RE lawyers to recommend who has experience with American buying properties in Mexico?

@Rich Weese  what do you mean by “ have a non involved American attorney specializing in Mexico Titles or run the other way.”? Could you please refer me to one of recommend?

Thanks so much and as always any tips is very appreciated.

Johan

@Mitch Kronowit how did your friend find a notario? Is it from the recommendation of the local RE agent that they bought the property from?

I am interested in buying an investment property in Mexico.

I went to Playa Del Carmen last week for 5 days and staying on 5th Ave (tourist area). I like it there that it was walkable to everywhere, so many restaurants, bars, shops (which many were open till very late), the beach is nice, and safe. 

I saw so many new constructions and saw many brochures about PRESALE condo. I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. Should I hire a lawyer before doing that (paying $5K to hold the unit)?

Does anyone know any great RE lawyers to recommend who has experience with American buying properties in PDC, Mexico?

Thanks so much and as always any tips is very appreciated.

Johan

Hello fellow BP,

I am interested in buying an investment property in Mexico. 

I went to Playa Del Carmen last week for 5 days and staying on 5th Ave (tourist area). I like it there that it was walkable to everywhere, so many restaurants, bars, shops (which many were open till very late), the beach is nice, and safe.  I haven’t been to Puerto Vallarta. Is it also a walkable place to everywhere?

I saw so many new constructions and saw many brochures about PRESALE condo. I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. Should I hire a lawyer before doing that (paying $5K to hold the unit)?

Do I need to find a RE lawyer who lives in PDC?

Does anyone know any great RE lawyers to recommend who has experience with American buying properties in Mexico?

Thanks so much and as always any tips is very appreciated.

Johan

Hello, 

I am interested in buying an investment property in PDC. @Erin Hamilton did you finally buy any property in Cabo, Mexico?

Is there any tips you could share? I went to PDC last week for 5 days and staying on 5th Ave and 30th St (tourist area). I walked around the area. I like it there and feel safe.

I saw so many new constructions and saw many brochures about PRESALE condo. I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. 

Should I hire a lawyer before doing that (paying $5K to hold the unit)?

Do I need to find a RE lawyer who lives in PDC?

Do you know any great RE lawyers to recommend who has experience with American buying properties in Mexico?

Thanks so much as always any tips is very appreciated.

Johan

@Rich Weese 

I am interested in buying an investment property in PDC. Have you sold all your properties in Cancun?

Is there any tips you could share about buying investment property in Mexico? I went to PDC last week for 5 days and was staying on 5th Ave and 30th St (NTE). I walked around the area. I like it there and feel safe, tho I did not walk around pass 20th Ave.

I saw so many new constructions and saw many brochures about PRESALE condo. I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. Should I hire a lawyer before doing that (paying $5K to hold the unit)?  should the RE lawyer a local one (lives in PDC)?

Do you know any great RE lawyers to recommend who has experience with American buying properties in Mexico?

Thanks so much as always any tips is very appreciated.

Johan

@Simone Newsome hello, have you purchased the vacation all condo in Tulum/PDC?  How is it going? 

@Mikael S. I just came across your posting as I am interested in buying an investment property in PDC. Do you still live in PDC? Did you finally build your investment property there? How is it going? Where is your property located? 

To everyone else who has experienced in buying investment property in PDC.  Is there any tips you could share? I went there last week for 5 days and staying on 5th Ave and 30th St (NTE). I walked around the area. I like it there and feel safe, tho I did not walk around pass 20th Ave.

I saw so many new constructions and saw many brochures about PRESALE condo.  I have spoken to a few RE agents when I was there and am thinking to buy the presale condo unit. But, I am a little worried about getting scammed and being a foreigner buyer. The RE agents told me to put down a small amount of money ($1K - $5K) to hold a spot of the unit I wanted. But, I did not want to do that. Should I hire a lawyer before doing that (paying $5K to hold the unit)?

Do I need to find a RE lawyer who lives in PDC? 

Does anyone know any great RE lawyers to recommend who has experience with American buying properties in Mexico?

Thanks so much as always any tips is very appreciated.

Johan

@Dominik Makaneole @David Pere

Thanks so much for the input. Yeah, I will still run his and his wife’s back ground check to make sure all clear. 

Thanks again!!

Hello fellow BP,

I recently just closed on two properties in Orlando. One of my new properties is on the market for rent. My Real Estate agent has met with a prospective new tenant who is willing to pay one year rent upfront. This prospective new tenant is an ex-military (still young, in mid forties), married with a kid. He told my agent he has a ptsd syndrome and currently isn’t working. I think he said to my agent he gets medical allowance money from the military or something like that. My agent hasn’t run his background check yet. 

I would like some opinion what I should know about accepting the whole year rent money up front. Do I need a special lease agreement or add a special paragraph on the standard lease (what do I need to write), etc.

Has anyone been in the similar situation like this? 

Would it be very risky to have a ptsd tenant?

As always I greatly appreciate any inputs.

Best,

Johan