Buying Property in Puerto Vallarta: What Can You Buy for $400,000? 

It would be nice to hear more about Bucerías, and maybe address electric rates and parking in each property you showcase.

Marina District - like ZOHO Zen

My wife and I thought about purchasing a unit in the Colonial. Love that neighborhood, Pepe's is not far along with many other fine restaurants. It is only a ten minute walk to the malecon, 2-3 minutes to the beach by the Buenaventura, the stadium is close as well.

I would like to see him not Shirking his responsibilities. I'll see myself out....

I think a real estate video every couple weeks would be very well received. You could not only compare different condos & houses at different price points, and different areas , but you could even include what $800, $1000, $1500 & $2000 a month, for example gets you as a long term rental. Many possibilities

love that idea! Thanks for sharing! This is our first one so we are learning a lot :) There is just SOOO much info to share!

OR , a few drone shots

Spot on, Impala!

Great Point. Any recomendations of such area woule be appreciated

great ideas! I'm writing this down for next video!

Yes, please!

Yes, small houses would be great to look at.

@@kinetickennons Hello Greg and Hillary, I’m your # 1 fan ✌️ !!

Yes I’m looking for something like that for my dog.

you have a nice point--the weather in central Mexico is sooooooo nice! People are paying these prices for places here in PV--actually one of the places we were set to look at sold after we made the appointment in a matter of a day or two--places are flying off the market here!

@@kinetickennons …Vallarta is a great place for well-to-do Mexicans to “park” their pesos as US dollars in income properties. A bit more complicated for US citizens.

@@boobiyoable Agents and shops or anywhere in Mexico using USD is always a trap. Smarten up gringos!

@@boobiyoable there are thousands of Americans and Canadians who own properties in PV and earn a lot of USD renting them to other Americans and Canadians often bypassing the Mexican tax authority as they rent directly to other Americans in US territory and even do the key exchanging in US or Canadian territory as well. The Mexican government is starting to crack down on this practice and quite frankly it's about time. Also, the most expensive Villas and condos in PV are owned by rich Americans and Canadians and that's a fact. Also, your theory about developers stiffing foreign buyers by selling them condos in USD isn't 100% accurate as they stiff Mexican nationals as well. When you call to inquire the price of a condo in Spanish (Mexican National) they give you the price in Mexican pesos but based on the USD price converted to pesos. I know because I'm Mexican and I just bought a condo and when I asked the price it was just converted from the USD price. If you agree to the price in Mexican pesos then the Mexican peso price is put in a contract and it's binding but if you don't draft a purchase contract and give a down payment in a timely manner, when you call a week later or two that same condo has either sold to an American or its price has gone up in unison with the US dollar.

@@2029jc We don’t disagree, but the fact is that when the papers are signed the USD price is always converted into pesos at the current exchange rate on the official documents, the conversion is made at the time of signing, I know because I had the opposite experience. I purchased a property that was listed for sale in MXN and a price was agreed on. The seller had a US bank account, so on the day that papers were signed we agreed on the exchange rate in USD….the price in MXN did not change, but the price that I paid was less in USD because of the different exchange rate between the day that we agreed on a sale price and the day of the closing, the purchased was completed when I transferred USD to USD between the 2 banks in the States. It would work the opposite in PV when the sales price was in USD. If an agreement was reached at $500,000 USD and 2 months later at closing (approximate time to close when a bank trust is required) the price would still be $500,000…BUT, if like very recently, the exchange rate went from $19.94 mxn to usd up to $21.94, then the buyer would receive an additional $1,010,000 mxn pesos. This is what I meant when I said that investments made in MXN are protected against losses to the USD. If that same property had been listed for sale in MXN, the price would have stayed the same. Personally, I would never purchase a property listed for sale in USD.

thanks for coming along with us!

ohhh this is a GREAT idea! And something we would be interested in too! Have you ever seen the building "Selva" in ZR? I think it's our favorite building for that very reason--its a little older and SO charming!

@@kinetickennons Yes!!!! Selva is beautiful and exactly what I'm talking about lol! This is the kind of place we hope to purchase when we can pull the retirement trigger ... or maybe before if we can work it out.

I agree that seeing some older style buildings or even individual homes would be great. I am not thrilled with modern looking stuff.

Cash is king!

WOO---hopefully that 10 years flies by so you can get on down here! Thanks for exploring with us. We had a lot of fun doing this one and are looking forward to doing more like this with Gary in the future!

Tha colonial..second condo in the video

OH YES! Thank you so much for sharing this contact. Her work is SO good and tasteful and elegant!

this is why I'm reading in the comments. Thank you!

haha totally agree!! Especially watching it back--the kitchen is SO good for filming and coffee shenanigans! Our space now is really pretty small--around 400 square feet and we DREAM of a coffee/filming space. One day :)

all three properties are truly beautiful!

woo--thanks for exploring a few places with us!

great question--we wanted to really compare price points in the three different neighborhoods for a similar size space in each--a two bedroom, two bath in this video so that's why we shared the price of that floor plan in the third building. According to their website, "units start at $232,750". Hopefully Gary can provide more detail on this one!

@@kinetickennons thanks...good luck with all your endeavors

Secretive Kennons.

WOOO--love this! And congratulations on your condo!

very true. that view is indeed so incredible!

yes! That was our thought with two of the units as well--I don't like looking into someone else's living space.

WOW---so crazy!

I’m curious what the price is per square foot for that place

I agree! I’m a Realtor in New Me I o you can get a large home for $400k crazy prices in Mexico

I know is expensive you know is a tourist place. It is the same as San Diego. San Diego was not cheap but convenient now its so expensive 😫.

I believe in the future you can doble your investment.

Thank you so much! So many people have mentioned this and we love the idea of showing older places around town as well! Thank you!

yeha--# 1 is definitely a huge investment opportunity. HAHA--we noticed the toilet too. Someone asked if its staying there---definitely not. But it is convenient! haha!

totally agree!!! So cozy and comfy!

Sold out!!!

I recently bought in Mazatlan. 3 plus 2 house on a larger lot, our favorite neighborhood in the golden zone. 4,000,000 pesos. 2 short blocks to the beach!

wow--small world! Gary is great--so super helpful and knowledgable!

thanks so much Neil! It's been a long time coming but we are excited to be able to share some cool places with Gary! As for coffee distribution in Canada---we were having to pay some crazy taxes and fees to customs to get our coffee in Canada so we had to suspend shipping there. Hopefully we can get it straightened out soon!

yes--it was so bright and airy in there!

we thought the same about Versalles. But I think in a few years, it is going to be a new hot spot with tons of restaurants and things!

AGree with Susan

Some areas are noisy other pretty quite.

ohhhh we love Amapas too! So close to everything and the coastline there is magical!

Plus fideicomiso fees.

hahaha sooo convenient!

🤣 it’s angled towards the couch… “While entertaining, never miss a part of the conversation”.

so true--definitely wouldn't be as noisy I wouldn't think. And the rooftop was BLISS!! Great question--parking in general! Will let Gary help us out with this one!

you are so right---Vallarta has a TON of properties on sale!

haha aww thank you!

thats so true--we didn't explore the 2 bedroom in the third building but the size sounded really big!

you are so right--it was SO light and open in there!

actually--the timing of the two things wasn't really connected at all--We would LOVE to buy our own home one day. Is that a dream of ours? Yes, absolutely! We have never owned a home and I think it's a reasonable thing for 30 year olds to dream about---having our very own home. :)

We DO love #1...especially one specific unit! :)

sounds like pure bliss!

sure! Here is a link to a blog post with tons of info on beaches! www.kinetickennons.com/post/a-complete-guide-to-the-best-beaches-in-puerto-vallarta-mexico

@@kinetickennons thank you guys. You're both awesome. Big fan

hola Harry--great point! Thank you.

Yes, good idea to show the fees as well as the prices. HOA Maintenance Fees are paid in Pesos. Below are the approximate fees for the three properties in US dollars shown at the time of the video: Property 1 - $350 per month Property 2 - $150 per month Property 3 - $250 per month

Bingo….”Income”. Since the income would be from a source inside Mexico, you would need to, at the very least, also file a Mexican tax return as well as include the income on your (assuming a US citizen) US tax return, since the US taxes it’s citizens on all world wide income. Also, Capital gains taxes (or the equivalent) are quite high in Mexico (assume 35%) when you sell an income property.

These are all great points that we know nothing about. Thank you both for bringing this up--will chat with Gary about all of the tax implications as well as the investment opportunities in places like these!

great point--thanks for bringing this up. Gary mentioned the fees in a few other comments but definitely something to consider!

Thanks Kelly, here is some information about the fees. HOA Maintenance Fees are paid in Pesos. Below are the approximate fees for the three properties in US dollars shown at the time of the video: Property 1 - $350 per month Property 2 - $150 per month Property 3 - $250 per month

Another plus for property2...too bad it's sold out