I'm with Jim on this one. Many years ago I was a real estate investor with
10 buildings in my local area. I looked at the Mexican market since the
cash flow appeared to be very good (not to mention I was able to write off a
trip to Cancun and Cozumel as a business expense). The only problem was
that you could buy the properties with an American real estate loan, but the
property was subject to the Mexican government nationalizing it whenever
they wanted. All of a sudden you could lose your property with no recourse,
but still had a mortgage on it with an American bank. No... I don't think
so. Adios.
LAD
----- Original Message -----
From: "Jim Johnson" <bmwwxman@gmail.com>
Cc: <spridgets@autox.team.net>
Sent: Monday, May 25, 2009 2:27 PM
Subject: Re: [Spridgets] Mexico
Apparently you haven't had intimate relations with the Federales
yet...... Have a good friend in the Houston area that did exactly that a
few years back near Manazitlan. They were happy to get back to Tomball with
their skin intact in 2007. They've got their Social Security still and a few
dribbles of income from other sources but the bulk of their retirement is
still on the beach in Mexico. Somebody in the government down there liked it
better than they did.
Cheers!!
Jim
On Mon, May 25, 2009 at 10:20 AM, Brad Fornal <tequila.brad@gmail.com>wrote:
> I know you kid, but think about it....
> $20,000 one time payment for a 99 year lease on the beach (at least that
> is
> what they are at Tenacatita) and 75K will give you a 3500 square foot
> home,
> probably even with a pool. Most of us could sell our homes, and come up
> with
> 100K. Sell a few more things, and you have spending money for your
> retirement years.
> Maybe it just me, but after being here a few times, that doesn't seem like
> such a bad idea.
>
> On Sun, May 24, 2009 at 11:30 PM, Jim Johnson <bmwwxman@gmail.com> wrote:
_______________________________________________
Support Team.Net http://www.team.net/donate.html
http://www.team.net/archive
http://autox.team.net/mailman/listinfo/spridgets
|