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I have been considering the idea of buying an apt/house in TJ, to live in there and commute to SD. When would be a good time to invest in a property such an apartment or house ?
Right now the conversion rate is against the peso, so I am tempted to buy it before end of the year.
I am currently living in SD paying close to $1000 usd a month sharing a house with 2 more individuals.
I've got some savings and in-between projects now, I can't afford a house or apt here in SD and owning land in Mx is not a prob for me. So my intention is to live in TJ in the meantime I get a full-time job in SD .
TTBOMK The Majority of Expats who own land in Mexico own within The Zone and do not hold FM 3 or 2 . You Own it , the "Bank" Holds the title in Trust..as I see it its a con job for free money for the banks but so be it.. I had a Fideicomiso ( FC ) so again different laws for different parts of Mexico? You don't have to hold a FM2 or 3 either.. Its about $2500 to set one up( FC) and then give or take depending on the value of the building and land about $500 a year paid to the Bank for holding the Title Nice scam if you can get it... BTW that how I had to buy hold and eventually sold my home on Cozumel. You "can " form a Mexican Corp. and that drops the need for the FC but there are issues with that too and it cost no less (?) than double the original cost of the FC?? HUGE Income for the Banks THAT ARE ALLOWED to hold trust hummmmm
Quote:
Originally Posted by Steve Bagu
Buying of Mexican land is basically prohibited within 100KM (60 miles) from any sea water or Frontier (border).
A person would have to be a citizen or possess a FM2/3 which entails a lot of requirements.......it ain't easy.
I did personally acquire a lot south of Rosarito and did build here under certain conditions that I will not dwell upon.
Renting would be the best choice. Based upon the US plated cars that cross every early AM would assume that they are RENTING.
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