In their newly updated book Cashing In on a Second Home in Mexico - How to Buy, Rent and Profit from Property South of the Border, authors Tom Kelly and Mitch Creekmore guide readers on topics like safely holding property in Mexico's restricted zone, how to research property for purchase, and navigating the nuances of the Mexican closing process.
"This book clarifies and explains why Mexican real estate, when using proper safeguards, can be a terrific, secure investment," said Creekmore, who has
spent the past 15 years working to provide title insurance policies for
Americans and Canadians in Mexico. "It will also explore the purchasing
mistakes of the past, summarize several of the attractive new locations that
are luring foreign dollars and explain why Mexico is so eager to welcome
second home buyers from outside its borders."
The worst thing a potential purchaser can do is to remain ignorant of the
law and procedures involved in the conveyance of real estate in a foreign
country. As we state several times in this book, Mexico is not the perceived
"Wild West" where anything goes and the prevailing Mexican attitude is
"trust me, no problema." It is inherently important for non-Mexican buyers
to understand that Mexico has formality of law with authorized regulation of
real estate development procedures at all levels. This process is coupled
with a statutory government framework for the legal conveyance of real
property.
Great personal wealth has been attained through real estate ownership, but
for most of us, it has been limited to investment in a primary residence.
Although Mexican real estate also can be a viable investment venue,
Americans have had a great deal more trepidation considering properties
"south of the border." And for good reason-considering the history of some
acquisitions.
Given today's investment climate, however, Mexico provides an attractive,
alternative arena for potential investment. Real estate in Mexico should
have a similar appreciation "upside" as does real estate in a U.S.
development-coupled with the advantage of use and enjoyment of the property
as a vacation residence. This book clarifies what's possible.
