Thanks for sharing this info, Gary. I've bought some land in Sayulita and am planning to build an AirBnB there. Your numbers correlate to the AirDNA data. Offseason occupancy seems low so just seems like you need to make those adjustments to bring it up. Still $17K for a 1BR that's totally passive is nice.
Hi Gary, what a fantastic video! Thank you. What is required to become a member of AMPI? I am not a realtor, just someone looking to invest and looking for a good realestate research tool.
I can provide you with a user account that will allow you to search the PV real estate MLS, so no need to join AMPI. Just send me your email address. (My phone/email are in the Description of the video)
Thanks for the very informative video! My family was just there two weeks ago and looked at a few places for the purpose of an investment property as well as some part time personal use. However the idea of all the expenses, taxes, etc as a non-resident seemed so daunting we weren’t sure the ROI was really there (we heard we would be lucky to make 10% net). The location also makes a big difference, we were loooking around the D5 area.
Prices in my area (Zona Romantica) have appreciated quite a bit, so D5 is a good area to look. I also know of a new listing coming on the market soon in the Hotel Zone that looks like a good buy for investment. Growth on the Banderas Bay continues and there are still good deals available in upcoming areas
Great video Gary. I would like to do the same with my condo in Versailles,I’d like to use the same property management company as you have, do you have a contact email ? I unfortunately do not have a permanent residence card or tax ID number yet but something I have considered. Thanks
Hi, I use a local company: Just google Lifestyle Property Management Puerto Vallarta. I'm pretty sure they are now offer services in Versalles. Another option is Samson Waters in PV. Good luck!
I don't know why anyone would want to live/stay in PV today. Overcrowded. Price increases on everything. Water shortages that are getting worse. Govt worker strikes. Increased crime & murder, especially towards the LGBT+ community. And the weather keeps getting warmer due to climate change. Seriously..the charm and good deals are dead in PV. 👎😕
What if you are a US resident (do not have Mexican residency") who owns and rental property in Puerto Vallarta? What kind of US taxes are applicable to your rental income, if any?
Income from foreign properties are taxed the same in the US as if the property was in the US. For a foreigner to 'purchase' property in Mexico along the coastline (something like 25 or 50 miles?) you have to setup a Mexican trust which is held by a Mexican bank. The trust is renewable in perpetuity.
It's best to discuss tax requirements of foreign property ownership in Mexico with both your US accountant and a Mexican accountant. I can provide Mexican accountant referrals who are fluent in English if you'd like discuss further
Prices in 2019 before Covid there the lowest, in 2022-2023 prices are the highest; no guarantee prices won’t go down as in 2008
great video, thanks for sharing!
$500k property with $17k return is a 3.5% cap rate?
Thanks for sharing this info, Gary. I've bought some land in Sayulita and am planning to build an AirBnB there. Your numbers correlate to the AirDNA data. Offseason occupancy seems low so just seems like you need to make those adjustments to bring it up. Still $17K for a 1BR that's totally passive is nice.
Hi Gary, what a fantastic video! Thank you. What is required to become a member of AMPI? I am not a realtor, just someone looking to invest and looking for a good realestate research tool.
I can provide you with a user account that will allow you to search the PV real estate MLS, so no need to join AMPI. Just send me your email address. (My phone/email are in the Description of the video)
Airbnb is doing badly across the globe lately and it will go even worse
Why is that?
What management company do you use please?
Lifestyle Property Management in Puerto Vallarta. They manage properties in the Romantic Zone, Hotel Zone and I believe Versalles
Great content.
Thank you for sharing
Blessings, Carlos ✝️🙏❤️😊🇺🇸
Thanks for the very informative video! My family was just there two weeks ago and looked at a few places for the purpose of an investment property as well as some part time personal use. However the idea of all the expenses, taxes, etc as a non-resident seemed so daunting we weren’t sure the ROI was really there (we heard we would be lucky to make 10% net). The location also makes a big difference, we were loooking around the D5 area.
Prices in my area (Zona Romantica) have appreciated quite a bit, so D5 is a good area to look. I also know of a new listing coming on the market soon in the Hotel Zone that looks like a good buy for investment. Growth on the Banderas Bay continues and there are still good deals available in upcoming areas
Great video Gary. I would like to do the same with my condo in Versailles,I’d like to use the same property management company as you have, do you have a contact email ? I unfortunately do not have a permanent residence card or tax ID number yet but something I have considered. Thanks
Hi, I use a local company: Just google Lifestyle Property Management Puerto Vallarta. I'm pretty sure they are now offer services in Versalles. Another option is Samson Waters in PV. Good luck!
@@GaryShirkPV Thanks Gary .
So if you were to buy this property today for 500k usd, the numbers wouldn't pencil at all, right?
His rates are mostly $100/ night with empty Sept and rest of august….with that kind of investment you bear,y will cover your expenses
I don't know why anyone would want to live/stay in PV today. Overcrowded. Price increases on everything. Water shortages that are getting worse. Govt worker strikes. Increased crime & murder, especially towards the LGBT+ community. And the weather keeps getting warmer due to climate change. Seriously..the charm and good deals are dead in PV. 👎😕
What if you are a US resident (do not have Mexican residency") who owns and rental property in Puerto Vallarta? What kind of US taxes are applicable to your rental income, if any?
Income from foreign properties are taxed the same in the US as if the property was in the US. For a foreigner to 'purchase' property in Mexico along the coastline (something like 25 or 50 miles?) you have to setup a Mexican trust which is held by a Mexican bank. The trust is renewable in perpetuity.
It's best to discuss tax requirements of foreign property ownership in Mexico with both your US accountant and a Mexican accountant. I can provide Mexican accountant referrals who are fluent in English if you'd like discuss further