Some Interesting Baja Property Info

http://www.jetiii.com/house/Land_Investment.pdf

I read through this earlier this morning. I never realized how awkward/complicated it was for a non-citizen with property in Mexico. Pretty good information here.

Great link, but the 'Mexican Corporation' ownership phase is not without it's pitfalls either. The tax issues, high water property location penalties, ancient title ownership rights litigation, squater's rights, and political stability each combine to make ownership always interesting. :confused:

My friends in Las Barracas follow your "Never invest more in Mexico than you can afford to leave in Mexico" quote. If they lose their current litigation, they plan on buldozing their house before they leave. Two properties in this Campo Las Barracas have already disappeared due to beach erosion. These friends also lost their first home to storm erosion and rebuilt 50 meters further back.

While the taxes may be low, the high water encroachment penalty is not. There are government officials who come out every year with their tape measures to assess beachfront fines for property structures. These annual payments are in the ten's of thousands of dollars for violators. And the beach continues to erode.

I will also pass on the rumor that there is an attorney in La Paz who specializes in property squatting. He follows the tax roles to find delinquent property owners, visits the property to see if it is worth his efforts, and then hires professional squatters to live on your property. You have to file an unlawful trespassing suit and when/if you win you need to hire your own police to forcefully evict these squatters. Then you have to occupy the property 24/7 until they lose interrest.

Then there is the local lady who used to do laundry for me. She would encourage my family to keep improving our property. For when the next revolution comes and they throw out the gringos, she was going to move into our restaraunt. She is doing better now, she sells tomales for the light lunch crowd.

I get a kick out of the gringos who come by looking for beach property with $50,000 burning a hole in their pockets. With Bill Gates completing his cliff house 30 miles south of us, the current gossip is "The billionaires are pushing out the millionaires". The current property boom has sure created lots of opportunities for real estate agents, speculators and litigators.

My buddy just moved out of Rosarito... he was 3 houses down from the Mayors house, on the beach. He moved to Utah... and was an Avid rider, Baja Real-Estate Agent, and fan of Baja. Ever hear of Bajaworxs?! Great guy... with lots of info. I'd grill him on our trips when he was stuck in the car with me, lots of good info. Very interesting.

... I'll send him an email so he too can chime in, and clear some things up.

Thanks Johnny,

I lived in Baja for a while and learned the ropes to buying and selling real estate down there. It gets tricky and I recommend doing your homework and hiring someone to help. While the northern Baja and southern Baja real estate markets are substantially different, many of the problems gringos run into are not. Owning fee simple within the restricted zone (within 50km of the coast) is not possible and if someone tells you otherwise beware. You can own the rights to the land through a bank trust (fideicomiso). Where the bank owns the land and you own the rights. Its safe and secure and protected by the constitution, but this is not fee simple ownership like in the U.S..

Other important factors, and the above pdf mentioned it, are water rights and power. There is a limited supply of water throughout Baja. De-sal plants are just starting to come online, but for the locals its too expensive and not feasible. De-sal plants are starting to become popular within the hotel and condo developments. Also, electrical power has almost always had its ups and downs. We had power outages almost weekly at my home in Rosarito. If you're interested in purchasing property, scope out the water and power situation or make provisions to provide for your own.

Owning in Baja can be lucrative - I've seen fortunes made - and I think as oceanfront property in the U.S. becomes too overpriced, Baja will be a viable option. Getting in now is not a bad idea as laws are constantly changing and the government is making strides towards improving the economy and bringing in international investors. As soon as some of the major issues are resolved, I think we'll see a huge boom in Baja...

I no longer live in Baja, I moved to Utah, but I have close ties and contacts there. If you have any questions or need advice or would like to be pointed to a professional down there, hit me up! I'd be glad to help...

Welcome to Utah - Where are you?

I'm in Ogden... Quite possibly the most drastic scenery change from the beaches in Baja, but I'm loving it so far!

ironic ad placement at the bottom of this thread....looks like an info-mercial.

ironic ad placement at the bottom of this thread....looks like an info-mercial.

The ad is static to thread topic...

Similar to if your on a naughty site and it says "meet sexy moms in San Diego". It's not magic, but it does seem ironic at times.

... pay the $20 a year for TT (or whatever it is) and all those ads dissappear. :confused:

The ad is static to thread topic...

Similar to if your on a naughty site and it says "meet sexy moms in San Diego". It's not magic, but it does seem ironic at times.

"We don't want no thought control......................................"

pink-floyd-the-wall-poster-c10289248.jpeg

... pay the $20 a year for TT (or whatever it is) and all those ads dissappear. :confused:

Well then, I'll put in a plug for our sponsor:

content-motorsports.jpg

http://www.eastcapehomes.com/

disclaimer: I have no affiliation with Eastcape Properties; however, I do have ties with its competitors.:excuseme:

Thanks Johnny,

I lived in Baja for a while and learned the ropes to buying and selling real estate down there. It gets tricky and I recommend doing your homework and hiring someone to help. While the northern Baja and southern Baja real estate markets are substantially different, many of the problems gringos run into are not. Owning fee simple within the restricted zone (within 50km of the coast) is not possible and if someone tells you otherwise beware. You can own the rights to the land through a bank trust (fideicomiso). Where the bank owns the land and you own the rights. Its safe and secure and protected by the constitution, but this is not fee simple ownership like in the U.S..

Other important factors, and the above pdf mentioned it, are water rights and power. There is a limited supply of water throughout Baja. De-sal plants are just starting to come online, but for the locals its too expensive and not feasible. De-sal plants are starting to become popular within the hotel and condo developments. Also, electrical power has almost always had its ups and downs. We had power outages almost weekly at my home in Rosarito. If you're interested in purchasing property, scope out the water and power situation or make provisions to provide for your own.

Owning in Baja can be lucrative - I've seen fortunes made - and I think as oceanfront property in the U.S. becomes too overpriced, Baja will be a viable option. Getting in now is not a bad idea as laws are constantly changing and the government is making strides towards improving the economy and bringing in international investors. As soon as some of the major issues are resolved, I think we'll see a huge boom in Baja...

I no longer live in Baja, I moved to Utah, but I have close ties and contacts there. If you have any questions or need advice or would like to be pointed to a professional down there, hit me up! I'd be glad to help...

I know this is a Baja Forum but does anyone have any information about buying property in Costa Rica? I'm considering buying after a recent trip there.

Bob

I know this is a Baja Forum but does anyone have any information about buying property in Costa Rica? I'm considering buying after a recent trip there.

Bob

A friend of mine owns a couple of Century 21 offices in Costa Rica. I will PM you his information.

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