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OT: Cold?

yes. through a land trust.

Reply to
Charles Spitzer
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yeah, as Charles said, a trust.. In this case, in a deal with the Mexican Government to keep the green flowing south, it's a blanket trust on an old existing "rancho"...

If done (imho) correctly, everyone wins, especially the government... Baja depends on tourists and folks retiring there for the big bucks..

Now, if I can talk my neighbor, who's a stucco contractor, to buy a lot near ours... *g*

mac

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Reply to
mac davis

I've heard horror stories about people sinking muchos dólares into properties in Baja, and then having the Mexican gobierno decide to repossess the properties. Have all those problems been resolved yet?

Reply to
Silvan

On Saturday 29 Jan 2005 4:13 pm, mac davis scribbled:

IIRC, the last time they let Yankees (Gringos, Silvan) buy property, Mexico ended up losing most of Coahuila y Tejas, Alta California and all the desert in between. :-)

Reply to
Luigi Zanasi

They seem to be, especially in Baja California... The main income there is from gringos, and the government needs those dollars.... Property that you buy is held in trust by the bank, since you still have to be a Mexican national to own property outright... I guess the main worry is that the government might get over thrown, or something...

Our bottom line is that it seems safe and legal, and it's only money.... we bought two 1/3 acre lots for about $30k each and the first house, a 1,200 square foot rental, will cost about $80k to build... should rent for over $11,000 a year after commissions (35%!!!!) We live in a "poorer" area of California, but the 40 year old tract houses start at about $200k, so it's not like we're risking a lot of bucks..

If it all works out, I'll be retiring at 60 instead of 90 or so, and be building a custom house with shop and RV garage in a place where life is warm, slow & easy.. If it doesn't work out, we lost some equity in our house, which we didn't work to get, so we can live with the "worst case"..

hmm... wonder if they call him Normando down there? *g*

mac

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Reply to
mac davis

[much snippola]

Jack Smith was a much beloved columnist for the LA Times (also syndicated) for many years. Many of his columns involved their house in Baja, its construction and maintenance. He wrote a book about their travails and their solutions according to Mr. Gomez, the local landlord, handyman, and confidant. Perhaps it should be on the recommended reading list for anyone with an interest in property ownership in Baja. Its title is "God and Mr. Gomez". Funny and interesting. Try it you'll like it. mahalo, jo4hn

Reply to
jo4hn

You'll probably do OK. Hell, in this day and age, and with property taxes the way they are, you basically just rent your home from the government and can live in it _only_ as long as you pay the taxing authorities ... doesn't seem to be much difference from Mexico.

Sounds like a good plan ... hope it works out for you. I've always been intrigued with Baja California since reading Steinbeck's "The Log From The Sea Of Cortez" back in High School.

Reply to
Swingman

You have to experience it to believe it... The Sea of Cortez is incredible.. and I'm NOT the beach person in the family...

Life is slow, contractors are even slower, but you just slow down and live at their speed... lots of nice distractions around to make you willing to wait..

My friends are going back down at the end of the month and he's taking a sampling of my stuff with him.. turnings, boxes, little stuff like toys, etc... he thinks that the gringos will pay pretty well for them... I'm not planning to have the shop down there for commercial reasons, but if someone likes something that I've made, it works for me.. *g*

mac

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Reply to
mac davis

I would love to ... when's the "open house"? ;>)

Like I said, I wish you the best. I want to get out of this urban cesspool and into a situation like that so bad I can taste it.

BTW, in case you haven't noticed ... you indeed suck! ;)

Reply to
Swingman

Yep.

First rule of successfully living in a foreign country: Their game, their ball, their rules. Do things the way the locals do them and you'll be a _whole_ lot happier and more popular to boot.

(Second rule: Don't burn your bridges. It takes a special type of person to live successfully in a foreign culture long-term. Not everyone can do it, even in paradise, and you want to leave yourself an 'out' in case you want to move back to the States.)

--RC

"Sometimes history doesn't repeat itself. It just yells 'can't you remember anything I've told you?' and lets fly with a club. -- John W. Cambell Jr.

Reply to
rcook5

hmm... not for at least 2 years, unless you want to pay $120 a night for a rental house or $50 a night at the RV park... As soon as the 1st house is done, come on down!! (hope ya like Corona)

thanks... I think..lol

mac

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Reply to
mac davis

Two very good points... IMHO, playing their game also includes learning at least enough of the local language to get by on... hate to be the "ugly American" down there... It bothers me that so many folks in California don't speak english, so I have to speak Spanish when we live there...

Not burning bridges, for sure... If things work out 60% right, (plan E, F, or G), we'll have both lots paid for in 2 months, then start building the first house... that will take at least a year, they don't hurry down there... Again, if things go somewhat as planned, we'll have 1 house finished and in rental service, that's free and clear.. conservative rental gross after the (ouch) 35% commission is about $10k US a year.. When the house is ready and my wife decides to retire, we'll move into the house and start building the real house, on the second lot.. (1/3 acre corner with no neighbors) My tools are all paid for, I can do my web work as well in Baja as in CA., and I'll be getting SS in 4 years... (my wife still has like 16 years till SS) It just seems like a win-win deal, so far..

The main reason that we bought 2 lots is that if we decide that Baja isn't for us, we should have enough of a return from selling the 2 houses or keeping them rented, to move back north..

Our ace in the hole will be to still have our home here in Clovis, rented out and with a lot of equity... I'm too old to start all over, so I'm only betting what I can afford to lose... I've always figured that if you only invest what you can afford to lose, anything but failure is a positive thing.. *g*

mac

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Reply to
mac davis

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