It’s important for foreign nationals who own a Mexican property under a trust (fideicomiso) to remember to pay your annual trust fees in addition to your annual property tax. Unlike paying the property tax at the start of the calendar year, the annual trust fee is due on the anniversary of the property owner’s…
Now that we’ve determined it’s safe to go to Mexico, let’s discuss going there for what some might perceive a dreadful purpose. Many people (we won’t call them tourists, because touring is not really what they’re up to) come to Mexico from Canada and the Unites States for dental work. We’ve been delighted to hear…
As in many real estate markets throughout North America the market south of the border in Mexico’s beachfront tourist destinations has been showing incredible signs of growth. Owning a second home is not usually a priority during economic downturns like the one we just lived through. Consequently the vacation and retirement home market did slow…
With the start of 2014 rules regarding Capital Gains Tax (ISR Tax) have changed. These changes effect how both Mexicans and Foreigners will be paying this tax. Here is a brief summary of what those changes mean; Based on Mexican legislation and specifically the new Mexican fiscal resolution for the 2014, in order to obtain…
USA Air Date announced for third House Hunters International episode featuring Puerto Vallarta Mark your calendar to March 13th and set our TV channel to HGTV for the first broadcast of Puerto Vallarta’s third episode on the hit television show House Hunters International. The latest trek follows Karen and Charles as they set their eyes…
During the 2014 Vallarta Real Estate Fair on Saturday, February 15th, hosted by Timothy Real Estate Group, a Panel Of Professionals will be discussing a variety of topics relating to immigration, the current real estate environment, fiscal changes, escrow services, mortgage loans, property management and how to maximize on your rental property investment. The…
It’s a dirty little secret in the wholesale biz that sometimes homeowners are hard to get in touch with. So many times you see a property you want to purchase, and even if by some stroke of luck you find out who the homeowner is, getting them to pick up the phone or return a letter can be next to impossible.
For $10, there’s a way you can get virtually anyone to pick up that phone. You come across looking a little bit like the guy from all the Saw movies, but trust – this is a move that will definitely get a homeowner’s attention and having you securing your sale. Here’s how to do it:
Hit the Thrift Shop
It seems like everyone on the planet has a high-tech smartphone of some kind, right? That’s a good thing – now, thanks to the popularity of the iPhone, you can find a simple flip phone in your local thrift store for as little as $5. Snatch a few of these up the next time you see them – if your thrift store has half-off sales, that would be a perfect time to buy. Next, activate these phones with pay-as-you-go plans. With a pre-paid minutes card you can get at any grocery store, load up your phone with some minutes and charge the battery.
Think Inside the Box
Go to your post office and get a small, flat-rate envelope or box. These retail for a fixed price (hence the term “flat-rate”) and usually won’t run you any more than $5 for a small sized envelope.
When you mail your phone, be sure to get something called the tracking number. The tracking number prints on your receipt and tells you where your package is and whether ..
While most of the U.S.A. is shivering by the fire trying to stay warm, we in Southern California’s beach cities are golfing, playing tennis and gardening. It’s sunny, warm and gorgeous! I want to take the opportunity to suggest that you consider owning beach property in one of San Diego North County’s idyllic coastal communities.
There is a unique and special quality to a life that is lived by the ocean. Sea breezes, sunny days mixed with gray day marine layers, long walks on sandy beaches at sunset – these soothe the senses and uplift the soul. And San Diego North County is an exceptional piece of paradise. The beach communities that make up San Diego North County are a jewel in California’s coastline and offer their inhabitants and visitors wonderful and exciting lifestyles and events. The captivating coastal communities of Del Mar, Solana Beach, Encinitas, Carlsbad and Oceanside are located just a few miles north of San Diego and just a short drive up the coast is Orange County and Los Angeles. Exceptional weather – how about an average of 72-74 degrees year round! Winter and desert sports are just a short drive away. Imagine this – surf and sun on the beach one day and then drive to Big Bear for snow skiing the next day. And off-road with your ATV in the desert the next day. Lots of fun options – all with a beach oasis to retreat to at the end of the day and your activities.
For several years before getting involved with investing in apartment buildings, I was renovating houses, fixing them up and reselling them. To finance these “rehabs”, I raised the money from friends and family. The minimum investment was $25,000 and paid I them 12% to 15% simple interest, guaranteed by the house. The title companies took care of the promissory note and recording the deed. As I was eyeing commercial real estate, I polled my existing investors to see which ones were interested in buy-and-hold commercial real estate.
I was disappointed to find that only a few of my existing investors were interested. However, I found that people I knew were able to refer me to people who were interested.
The lesson here is not that you should start small first (with rehabbing houses, for example) before moving into commercial real estate. Rather, the lesson is that you should leverage your existing sphere of influence to achieve what you’re looking for – in this case, to raise money for apartment buildings or doing flips.
It’s surprising who your family, friends, neighbors and co-workers know. Never discount anyone – tell everyone you know what you want to do and you will be surprised at what will happen. If someone refers you to ..
I have considered myself to be a pretty good marketer for 20+ years. I can actually remember the time when all marketing was done face to face, by using direct mail or with ads in places like TV, radio, and newspaper (before the internet).That was the way marketing was done. It was all about repetition and building relationships through the principle of “know, like and trust”.
Where marketing is concerned today, some things haven’t changed all that much. The person that has managed to establish that “know, like, and trust relationship” with motivated sellers will be the one to nail down the property just about every time.
There will always be those sellers motivated solely by money. Those folks will pick the newbie with the higher offer over the investor that they know has the experience to help them. Money is their only concern.
Many times those will be the deals that never close because the newbie investor simply made an offer that was too high. Let’s face it; when you are new, it usually shows by your lack of confidence, nervousness or maybe your inability to look the seller in the eyes and make that really uncomfortable low offer. But there are always motivated sellers that will overlook those things and sign on the dotted line just because of the higher offer.
Working with distressed sellers is a “one and done” process in most cases. There won’t be any repeat business. You may occasionally run across a seller that has multiple properties they want to sell at the same time, but most of my business with motivated sellers of distressed properties involves just one house.
What Happens When that Deal Tanks?
When that inexperienced investor finds that they can’t find a wholesale buyer or possibly even ..
Owning a home is a keystone of wealth… both financial affluence and emotional security.