Hello Aileen,You're right, closing costs for foreign investors are higher in this area of Quintana Roo Mexico (Playa del Carmen, Tulum, Cancun, Akumal, etc) compared to the US.

However, this is my first real estate project ever, it's totally self-funded and it takes part in a foreign country, so obviously it's daunting and exciting at the same time.

I think because we're in the Disney area we get a lot of foreigners that aren't comfortable with opened anything.

However, I do manage for foreign investors and I (the PM) file all of their state and local taxes for them. 

But to me since I’m going abroad next year to discover it card seems a little better because of 0% foreign transaction fee.

The name of the LLC is not available in FL so I cant get a foreign entity with the same name.

So, if you create an LLC in another state, you will likely need to register it as a foreign LLC in California.

Hi Everyone, I was under contract for a property but I didn't qualify for financing because the lender that provided the preapproval changed its financing source while I was looking for properties for a couple of weeks and as of now, they do not provide loans for foreign nationals anymore. 

Do you know if an out of state LLC applies for a foreign qualification to do business in CA, do they need to pay the $800 annual fee to CA each year?

I was told it was “impossible” to get a conventional mortgage on an investment property with foreign income.