Real estate, condo resorts in Mexico's Baja California is big business thanks to Donald Trump and other developers.
The Trump organzation's web site Trump Baja makes Baja look and seem like paradise the minute you cross the border south of San Diego. They write about the smells and life will seem relaxed and pleasant.
I remember the strong smell of smoke the minute you cross and the erosion. You've got to look hard to find a tree. They hired a really good copy writer!
Farther down the coast, it is pleasant and a pretty drive.
More than 1.5 million Americans own homes in Mexico and I'll be talking to a developer soon who's promised to give me information regarding a resort where they'll begin selling in the early fall. The real estate trend of Mexico as a hot property is expected to continue.
Now, what are your expectations of owning property in Mexico?
Foreigners aren't allowed to own property in certain zones - like along the beach!
However, a document called "The Mexican Bank Trust: Its History and How it Works" gives details how the Mexican government can allow people from the United States to invest in areas that are otherwise forbidden.
The laws came into effect in the 19th century to protect Mexico from losing land like California, Texas, Arizona and New Mexico to the U.S. "invaders" as the document states.
However, times change and the Mexcian government wants money from the U.S.
If you're going to buy a home in Mexico - whether Baja, Puerto Vallarta or other location then contact the Mexican Association of Real Estate Professionals and ask for the document I cited.
It was forwarded to me by Mr. Barnard Thompson of www.mexidata.info.
2 comments:
hey don
Hey there, travel philippines . . .
how are you?
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