Help Needed Purchasing Property in Sonora Mexico

My wife and I live in Tucson and are looking to purchase property in Kino
Bay or Puerto Peñasco (Rocky Point) Sonora, Mexico. Initially we'd like to
use it as a vacation rental to help pay the costs although we'd like to
occasionally use it ourselves. Eventually, 10 to twelve years from now,
when we retire, we may spend quite a bit more time down there. I have some
familiarity with Mexican regulations and understand that within 50 km of the
shore, the property will be held in a Bank Trust.



I've done a little web surfing, but have found it surprisingly difficult to
locate properties on line in either location. I'm hoping someone can point
me to a reputable Mexican Real Estate agent for the areas or a web site with
available properties. We're in no hurry to purchase but want to get
educated before we take the plunge. Any guidance concerning what to watch
out for when purchasing down there will also be appreciated.



Thanks in advance.




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pjb

Re: Help Needed Purchasing Property in Sonora Mexico

"pjbphd" <> wrote in message
news:FpTxf.11445$
> My wife and I live in Tucson and are looking to purchase property in Kino
> Bay or Puerto Peñasco (Rocky Point) Sonora, Mexico. Initially we'd like
> to use it as a vacation rental to help pay the costs although we'd like to
> occasionally use it ourselves. Eventually, 10 to twelve years from now,
> when we retire, we may spend quite a bit more time down there. I have
> some familiarity with Mexican regulations and understand that within 50 km
> of the shore, the property will be held in a Bank Trust.

I live in Tucson too. My first thought is "are you crazy?" I mean for
starters, for logistic and financial reasons you'd be money ahead buying
property on this side of the border and renting when you're south of the
border. Have you been in the vacation rental business? I have, it's brutal.
How do you plan to take care of this vacation rental? Whatever you figure on
making on the vacation rental cut that in half and then cut that in half
again. If you're realistic and very very lucky you might hit that figure
part of the time.You "may spend quite a bit more time down there"? In other
words you might not and you don't know where you would end up if you did.
Mexico gets a LOT nicer than either of the places on your list. I like Kino
Bay, but it would bore me out of my skull pretty quickly.

Are you familiar with these two very different places. I only know
Rocky Point from what I see on the TV and hear from people who do go there.
(It ain't my sort of place.) It's full of gringos with more coming. It draws
a lot of the younger crowd. I have been to Kino Bay several times. It's a
quiet little place that draws some retirees during the winter--not a good
place for a vacation rental and only passable as an investment if you buy
some of the limited beach front property. I'd suggest you also look at San
Carlos. It has far more potential as either a vacation rental or an
investment than Kino Bay and it's over all a more comfortable and practical.
place than either Rocky Point or Kino Bay.
>
>
>
> I've done a little web surfing, but have found it surprisingly difficult
> to locate properties on line in either location.

For the most part Mexico is not an online sort of country yet.

>I'm hoping someone can point me to a reputable Mexican Real Estate agent
>for the areas or a web site with available properties. We're in no hurry
>to purchase but want to get educated before we take the plunge. Any
>guidance concerning what to watch out for when purchasing down there will
>also be appreciated.

Ok, the Real Estate agent is nearly immaterial. Assume he or she is a
complete liar and a thief. They might not be and probably aren't, but it's a
safer assumption than otherwise and the important person for a gringo is the
lawyer. Get a good one--maybe even more than one. I am dead level serious,
more than one is a reasonable safety precaution. One of Mexico's big
problems is getting clear solid title to property. Most Mexican deeds are
insufficient to secure a bank loan, with or without a bank trust. I've met
one lawyer in that area that I would trust, but the chances of you or I
locating her again are slim. Her last name is Fox. She was the area
coordinator for all the area west of Hermosillo for President Fox's
campaign. She's not related. She's married to an American expat' and speaks
excellent English. I'm sure there are any number of good ones in the area.
Your lawyer is the key person.

TB