Cashing in on a Second Home in Mexico: How to Buy, Rent and Profit from Property South of the Border

by T.R. Kelly and Mitch Creekmore

Book Overview

This straight forward, informative guide helps potential second home buyers, investors and renters easily understand the nuances of Mexican property, mortgages and escrow. Aimed at baby boomers and... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0977092003
• ISBN13: 9780977092000
• Release Date: June 2007
• Publisher: Crabman Publishing
• Length: 332 Pages
• Weight: 0.90 lbs.
• Dimensions: 0.7" x 5.6" x 8.6"

Customer Reviews

Great Book

I "bought" a home in Puerto Pensaco two years ago. I am still trying to get my Fideicomiso. While everything looks like it will turn out ok, I sure wish i had read this book first. If nothing else I would have understood the process better and would have know what questions to ask and what documents to look for. A very informative book and I highly recommend it to anyone thinking about buying in Mexico. It will increase you comfort level trmendously.

Cashing in on a Second Home in Mexico

This book is full of up to date info regarding the purchasing and renting real estate in various parts of Mexico. It has maps for locations and recent rules and regulations of real estate shopping. It is well laid out and well done. I would recommend it to anyone who is thinking of moving to Mexico and possibly staying there for an extended time. Thank you, Tom Kelly, for sharing your knowledge of a beautiful and cultural country for relocation.

Mexico real estate is booming. Kelly's mix of facts, insights, and caution is well balanced.

The booming real estate market in Mexico is attracting worldwide attention. Not surprising, especially to us Minnesotans, the prospect of great weather, potential returns on investment, and ownership benefits are tempting. As a Realtor resource for Minnesota listed in the book, I compliment Kelly in getting the reader to see Mexico in light of today's realities and for his numerous doses of caution to be an informed consumer. His overview of tax issues and finding sources of funding for the purchase are terrific. When markets are hot it is critical to have professional agents and notarios working for your interests...especially when the hot market is also outside the USA. Quality referrals to professionals in the part of Mexico you have interest will result in firm deals, faster deals, and legal deals. When you combine the book's information with some personal travel and then add quality agents and attorney review (preferrably in the USA with lawyers able to counsel on Mexican law - not too common) the end result is cashing in on your own investment in Mexico. Hasta luego!

A must read if you are thinking of investing in Mexico

Congratulations to Tom Kelly and Mitch Creekmore for writing a book that is a guideline for investing in Mexico. This book is a MUST read if you are thinking about buying south of the U.S. border - whether you be a second home buyer, an investor, a developer, a banker, or just interested in Mexico. As a developer in Mexico, I've learned the Number One need for all who inquire about Mexico is accurate information and knowledge. Many requirements have changed to make purchasing in Mexico safe and profitable. While much of Mexico can be a great investment, this book takes your through the proper steps to be successful. As some analysts have stated "Mexico is the baby boom generation's Florida or Arizona." This book is an easy read and a book you will return to often for details on financing, rental ideas and taxes. It also gives some opinions on the best areas with the opportunity for appreciation. Mexico is much like to United States. It features many different states, all with their own amenities and cultures. This book gives you a flavor for what you can expect. For example, the state of Colima is the safest state in all of Mexico and has low unemployment. It also features a wonderful, year-round climate and is located on the same latitude as Hawaii. This book really has it all - and it will make or save you MONEY. Bob Koens, Minnetonka, Minn.

Tom Kelly hits a home run again with this new book

I found this book very straight forward, full of relevant informations, organized and very clearly communicated facts to readers. This book does it well, it explains the Mexican laws regarding foreigner purchasing real estate, the fideicomiso, the importance of due dilligence related to recorded deeds, title insurance, and the common misconceptions foreigners have about the law. The book also explains different type of homeownership purposes such as vacation home, retirement home, rental property investment and how to carefully plan your foreign real estate investment. Financing options were also discussed in this book as far how it can be financed through many different options such as equity loan from current home, self directed real estate IRA, mortgages, and more. There are many different topics discussed in this book that I would never have thought of before until I read this book. Tom Kelly has a knack and national reputation for his ability to communicate facts well to his readers through his nationally syndicated real estate columns. He takes no sides and is unbiased and down to earth. While reading the book, I felt like he was my 'mentor' about Mexican real estate. Since I am the listing broker for a development in Manzanillo, I have been to several Mexican real estate related seminars, most of them are good but I have found many more useful references and information in this book to help train my sales team and/to educate our clients and potential prospects. We always recommend our prospects to buy the book because it does the job very well. After our clients has read the book, they have much less questions for my sales team and buy properties with more confidence. Anybody thinking about buying in Mexico should read through this book first and start off on the right foot and save themselves a lot of time.