You guys, I'm very happy for you and the beginning of your new business venture! Maybe in a future video you could talk about the process of purchasing your property, what paperwork you needed, how long the process took, did you have Wendy with you to explain the things you were signing, stuff like that. I loved the tour of the "rest of the area", as you said, most channels don't stray off of the main roads, thanks for that!
Good luck to you guys. I bought an investment property in Ajijic earlier this year. 4 rental units plus a house. I look for many of the same things you look for in investment properties. I was fortunate to find a terrific deal in Ajijic. So far the return has been ideal. In fact Wendy is helping to manage it for us. You should stop by sometime and we can compare notes.
Congratulations 🎊 I wish you all the best. Are you going to show us the property? I would enjoy a tour of the layout and the adjacent neighborhood. Viewers might be interested in renting once you are established. Also, a video of all the steps you went through to make the purchase would be appreciated and informative. 🎉
Felicidades to you both! You all have made a very wise choice investing in Lakeside and doing this in your earlier years gives you so many more options. I bought my place in Lake Chapala in 2018 after 4 years of thinking about it and I'm very happy with the outcome. My family was very nervous about it initially but have come along way after al these years. I did work in real estate in the US and now do it in Mexico which is really fun. You outline the reasons very well why it is so popular with investors and residents. Chapala is getting so in demand with expats, you will always have renters if you want to travel around, etc. Enjoy yourselves & your new adventure!
Thank you so much! And that’s great you invested in LakeChapala as well! That was smart you thought it out carefully and also did it when the peso to dollar was better than it is now
You guys want to know something interesting. Right now the state of Guanajuato is a lot more dangerous than Michoacán. Also lately Guadalajara has seen some violence (it’s close to lake Chapala) while in Michoacán the problem areas are a lot further from Morelia. The problem with Morelia is that the news just say “en el estado de Michoacán” and everyone thinks the whole state is dangerous. But for your investment, base on your market, Lake Chapala is a good area.
My husband is Mexican and we have traveled extensively in Mexico. We visited Morelia this year with our family. We fell in love with the city for all the reasons you described and I too believe it is the best value location in Mexico to live however like you also described safety is a concern. I felt safe in Morelia at all times but as we visited neighboring cities while accompanied by locals I felt more nervous than I ever have while visiting Mexico. I saw more government patrolling then I ever have anywhere and it was unnerving at times. And I will also add the car rental options are terrible!!!! Like soooo soooo bad!!!! Congratulations on your purchase. Looking forward to learning more about your property and experiences.
Informative video, thank you. We plan on retiring to Mexico in a few years. Probably lake side or maybe San Miguel De Allende initially for a soft landing. We will sell our house here in Canada and put it into a certified deposit in Mexican banks. These are presently returning approximately 10% annually and backed by the IPAB. This will yield a very large annual return from the proceeds of our house. Ideally I would like to buy something eventually and leave a few hundred thousand in certified deposits. Time will tell as far as how much Canadian Real estate is worth and what the returns are for certified deposits, but it’s certainly a very good option.
@@arabellalunkes4532 We don’t recall any tax for any of the money that we brought in from the U.S.. We didn’t physically bring it, but we transferred it to the office’s bank account
buy property. convert it to mixed development. housing on top and business at the bottom. Housing itself will not bring as much income as a mixed development would. You will be bringing in housing, business, and jobs. Contributing to the community and not just causing headaches to the community. Unlike the people who are buying up property and pricing out locals and causing gentrification.
I was watching your video for your perspective on Mexican real estate, and as someone in finance and banking, I appreciated that young people that were aware of the monetary situation in the US. I have to tell you though, the BIS, centered in Switzerland, also has a location in Mexico. Bank of International Settlements. They head up all of the central banks, which are the cause of the problems.
Hey Lowell! I heard you recently received your Residency Visa! Congratulations! I got mine, decided life was too short, so I retired early and moved to the city of Ensenada from the LA/Ventura area last year. I've beach camped and surfed throughout Baja for over 40 years with never any problems and I feel really safe here. I have friends who retired six years ago and moved to live in the city of Qaxaca. I've visited them while surfing down there. It's a beautiful state and city and the climate is great there. The beaches there are too hot and humid and even though the surf gets gets good there, I couldn't live there full time. I have friends that live in Merida who wanted me to come visit but I talked them into coming up and visiting me instead. They spend there summer days indoors living there because it's too hot to spend any time outdoors and their electricity bill is around $80 and up to $150us per month! I love living here, the weather is perfect year round. I can spend my days outdoors where I live two miles from the beach and the bustling malecon. I found a beautifully furnished one bedroom in what's considered an upper middle class area of Colonia Hidalgo with all utilities, internet and cable with maid and laundry service included for $600us! I can walk or take a short bike ride to everything I regularly need so I can leave my car parked! Even though I don't have an electric bill, with no a/c required it would only be about $7.00us per month. With warm days and cool nights you can get by with a light blanket in the summer. BTW-Did I mention no bugs and really no mosquitos? You will love living wherever you decide to settle down in Mexico! Before moving do plenty of research and think hard about your quality of life while making your decision. Buena suerte!
Any recommendations on Spanish language schools ? I was thinking studying Spanish in difficult areas may give a better feel for a place then just traveling through.. also would give a base to work from, to explore areas around Mexico
Hey my friend! The down payment is directly based on what the total amount is and so there really is no average. Houses range from under $100,000 to over 1 million and so there’s no real average.
@@chasingtheAmericanDream What I've heard and read atleast in Jalisco is you'll have to be fluent in Spanish, some companies are requiring that Spanish has to be your first language.
Thank you so much for watching! ☺️Thank you for your support! 🥰 A lot of people like Queretaro but we personally didn’t find it to be special . We did a video on it. The food isn’t as good as in Michoacan just saying 🙃 But if you like it, then that’s great for you! 😊
My friend last time I was in Morelia I spent about 700$ dollars in one week stay on a beautiful place next to La Catedral. And that was just a room the place had a least 15 rooms. Yeah you have to invest a million dollars! but you can make good money 😅
I live in the area where you purchased. Please be good lanlords, you do need to be able to provide" safe " lodgings from a humanitarian perspective. I believe that the lack of liability in Mexico results in Many gringos getting into the biz. I had a terrble experience with the last landlords. I am in a wheelchair which doesn't matter the sense that this could have happened evein if I wasn't in awheelchair. anyway he sliding patio door fell on my head (the window /door was not attached to the building) so it was a structual defect. Thia has resulted in a traumatic brain injlury and a neck linjury for me, The lanlords do not qcknowledge. Not right. Should renters have yo have their accom. inspected because the landlorfd ia too irresponsible? be good landlords.
Wow, how interesting. What is good for some is not good for others. Indeed, buying a house in Morelia is better for living than for making money. Investing in real estate in Morelia is better in commercial premises. On the same land you rent for several businesses and it is profitable there. Congratulations friends for achieving what you are looking for. In any case, Morelia will always be his home. Come to the film festival, the day of the dead and the world gastronomic festival. They are at the end of October and in November. Greetings.
Yes, exactly what is good for us may not be good for someone else! Good to know about investing in real estate in commercial premesis in Morelia! Thank you so much for your kind words and support! What is the gastronomic festival?
