Anyone own property in PDC?

[Heather]

I'll take this moment to remind everyone that I have my own Vacation Rentals/Property Management company and that I can help you to rent Kathy's house (and many others)., just fill out this form and I'll get back to you asap.

Thanks!

[mfl*s queen]

Originally Posted by Heather

I'll take this moment to remind everyone that I have my own Vacation Rentals/Property Management company and that I can help you to rent Kathy's house (and many others)., just fill out this form and I'll get back to you asap.

Thanks!

And, let me take this opportunity to say that if I was looking for a new property manager, it would be Heather!!

[Big Fish]

To reiterate the original posters question.....IF you want it to bring you some income from short term rentals, then purchasing property is all about location, location, location in this type of area. We advertise on vrbo and manage that site, and the no. 1 question is always.... 'How far from the beach is it"?Followed by, "How big is the pool and how far from that are you?". Vacation renters want to be near the water, its that simple. The next question is usually, "do you need a car - how far is it to walk to the shops and restaurants?".
Having access to a pool is a big draw in this climate. ...for obvious reasons, and they want everything to be convenient.

Short term rentals (weekly) will bring in higher amount of $ than long term rentals, and you'll need to figure out how many weeks a yr of rentals you will need to break even if that is important to you. Do you want it to be occupied all the time (long term) in which case you won't be able to use it yourself. If you don't plan on coming down often to use it, or plan to use it more down the road, and just want it to be an investment - then maybe long term is OK for you, if you can find someone. Resale is also based on location.......maybe the next buyer does want it rented out, which may limit their choices to not include your location. And something that has been covered recently in another thread is when you do decide to sell.....you'll have to pay Capital Gains which is significant - unless you set it up thru a corporation and resell to someone else from your country!

Keep in mind too tho, that the more you rent it out, the more wear and tear there will be and the need to replace items that much more frequently.....from linens to ceiling fans!

Its definately an experience owning in Mexico, but we havn't regretted a single moment of it!
Finding a good PM is the hardest thing, as you are putting all your trust into that person/company to look after your place. Fortunately we love ours too as she's the same as Kathy's!! It seems (perhaps?) that developers have thought about the fact there are not enough good PM's around, and there are more new properties around that provide the whole package...(onsite manager etc) and it is more like a condo/hotel. 2 sets of friends have recently gone this route.....but it sounds like you lose the personality of your own place that way as they choose and provide all furnishings upon purchase. It does remove the issue of having to decorate/supply your own stuff tho which can be benificial to some.

Don't expect to make mountains of money to pay off a mortgage. At best you'll be covering your annual costs, if you manage to rent it out for a few weeks a year - any extra is bonus.

[scottschop]

Thanks for that insight Big Fish, I am not looking to make a bundle of cash, just cover expenses, and have a place to stay.

[Maverick69]

We first tried to buy pre-construction , but farther off the beach. We ended up buying 1/2 a block off 5th down by Mamitas. We bought for us, and if we have any rentals , bonus.