capn.sharky - 12-3-2003 at 05:08 PM
In connection with the ejido land question, I have many friend that have always said it is better to rent in Mexico. What say you? Better to rent
or to own. I ask because I am contemplating buying some land in the future and something in the back of my head says "don't do it tonto".
Julie - 12-3-2003 at 05:33 PM
Sharkey,
In answer to your query it depends on what you want it for, and how and how often you plan to be here.
If it's an occasional visit, say less than 3 or 4 times and year, rent.
If you plan to live here full time, how's your health? Will you find yourself in 3 or 4 or 5 years needing to be closer to the US medical system? If
so rent. With rents averaging $200-$300 US per month think of the yearly cost as oppose to buying, fixing up, maintaining and then being in a position
where you need to sell and fast in order to return Otro Lado and have the dinero to live there.
As you well know it happens all the time here. Anyway thats my 2 cents.
Hope to see you in January.
Julie
Iguana Inn:
Dave - 12-3-2003 at 05:37 PM
In the first place, you can't buy ejido land. Only after it is parceled out to the various ejido members, deed recorded and any tax liens settled
could it be offered for sale.
Second, only after this process AND if you are able to get clear title, title insurance and a bank trust (if you are a gringo) is it worth the
investment. With these caveats a bank trust is JUST as safe and secure as fee simple title in the States and it is the ONLY way I would own in Mexico
unless I was willing to walk away and lose everything.
Bear in mind that in Mexico your lease is only valid for 10 years (30 years ejido), period. That means that at the end of the term YOU are at the
mercy of the landowner. If you insist on leasing I would suggest a trailer that could be moved if necessary.
Skeet/Loreto - 12-3-2003 at 07:47 PM
Very good words and advice from various sides of an issue in buying or renting Land in mexico.
I took a chance in 1972 and got control of a piece of land on the Beach North of Loreto,Later my wife and I formed a Mexican Corp. and transfered the
property into the Corp. We later sold that property and made a good amount of Money.
During the 20 years We lived in Loreto we bought and sold mseveral pieces of property with out any problems.
make sure you are buying Clear Title Propery!
Never Never Never buy Ejido Property!!
Get a good Attorney from La Paz if in Baja Sur.
Other wise get a 10 year Rental Agreement, file with the local Judicial, put a Trailer on the Property and have a good Life.
Skeet/Loreto
Thank you
capn.sharky - 12-3-2003 at 09:18 PM
After over thirty years in Loreto alone, I still get different stories from the Mexicans regarding the land. You guys seem to know whats right and
whats not right---and I appreciate your imput. Julie has been through the process to buy the Iguana Inn and Skeet has been through it many times.
Right now I am moving to a new location in Loreto, Al Centro, at the top of town and will rent for at least two years. As for making a profit from
any land purchase in Baja, I have been going there since the late 50's and would rather put my money into California real estate. Too many broken
dreams in Baja.
Buying Loreto/renting
Phil S - 12-4-2003 at 04:20 AM
Dave. Well said. And Skeet. Your experiences over so many years, is a great "track record" to show that it can be done. And Capt. Sharky. Moving to
Al Centro will bring you new neighbors, and new experiences, I'm sure. Great idea to get to know everyone in Loreto. Four or five years in a
different colonial and move will further your love for Loreto. Not that you need it since you've been coming down since the 50's. You must have been
a pretty young "stud" during those first times you came down!!!!! And Capt. George just bought a spot, about a block from the Malecon, and is
gorgeous. I'd of bought it if I'd known it was being available. Even though I do love Nopolo too. Different strokes for different folks.
Ejido Lands
meme - 12-4-2003 at 09:17 AM
Well they are not selling the mine! Just lots in the Village privately. But also Pat Butler (eldorado ranch) just bought up thousands of acres of land
from the Ejido! Now is selling it to the Americans that live on it! This is a long drawn out process he has been working on for a long time. He says
he bought it and people are Buying it from him!
Young Stud
capn.sharky - 12-4-2003 at 09:46 AM
Phil S.---Actually in those early days I was in high school. I would go to Caliente Race Track with my Pa. Then I would borrow his car and head into
town for some local culture....Macombo Club, Blue Fox, etc. I got my education young. Later, after a stint in the Navy, I started with Cabo (went
twice and didn't like it). Next it was east cape and Rancho Buena Vista and Las Palmas de Cortez )when Kiko had it). After that, the year the road
opened, I went to Loreto and fell in love with the place. Been going there ever since.
FrankO - 12-4-2003 at 11:09 AM
A lot of guys I know that have been south for years say they wouldn't build anything they can't afford to walk away from or hook a truck up to it and
drive away. I have a ten year lease and will be putting a trailer on the property. I will make some capitol improvements. If the landlord doesn't want
me there after ten years, well, the cost for ten years of pleasure will be more than reasonable.
Skeet/Loreto - 12-4-2003 at 02:11 PM
Land owneres and futrue Land owners!
A very good way to buy property in Loreto is to buy directly from the owner of the Property in Loreto.
The owner {if he is in fact the owner} will have a Title,you take that title to the Municipal and ask for a Certification of No Gravman{show no
liens|then get a Tax Bill showint the Taxes Due, a couple pf other Documents and you can do the Transfer yourself.
Use to be a man called "Roberto" who was good at doing the transfers
By the way I still have a small lot out north ,clear Title and perfect for a Palapa and Small house or Trailer. Skeet/Loreto
Loreto/Cabo
Phil S - 12-4-2003 at 09:50 PM
I'm in Cabo right now, satisfying my wifes needs for occational excitement & shopping Costco for our home in Loreto. Talk about Loreto Bay. If many of
you haven't been in Cabo for some time, you need to come here and see "expansion". Staying at the new Resort Pueblo Bonito Sunset Beach, on the
Pacific Side. EGADS!!! Sure does make me appreciate what I have in Nopolo/LoretoBay. In just one year of having been here last, I see housing tracks
for the "workers" all over the place that I don't remember seeing a year ago. It's absolutely, "mind boggling". However, with new homes for the
"workers", means new construction of hotel units & resort units, produces needs for construction workers & services workers (gardners-maids-restaurant
workers, etc, etc) Are these people who weren't working before???? Where are they coming from? LaPaz maybe. TJ maybe? Or all over from tj to CSL?
I'd say that is good for the Mexicano's. This Sunset Beach Resort will most likely be one of the finest in the world, when completed in about two
years. They have already finished and using their desalinization plant that cost them $3Million us to build. The filtering system has got to be the
best in the world for drinking water. We've been drinking it since Monday, and no problema!!!!!Thank goodness. So if you've got the money, it can be
done. So hope Loreto Bay has enough $$$$'s committed to do their desalinization plant right!!!! Will be glad to get back to Loreto/Nopolo next week.
Coming back without the queen mattress set, we thought we were going to buy at Costco. Disappointed in finding that they were almost instantly sold
out of that size, when they opened. Lots of kings & doubles left. Was almost like walking into one of their smaller stores in the states, except,
prices in peso's. This must be boring for those of you who camp, but for those of us who live down here 5-6 months of the year, it's wonderful to have
a store like this to go to. No more holding our breath as we pass through the border.
Me No - 12-15-2003 at 07:10 AM
Great post Phil, and all. May I suggest you post this also at www.baja.net. A very informative site without all the political bru ha ha.
[Edited on 12-15-2003 by Me No]
Anonymous - 12-15-2003 at 09:25 AM
Do you mean as in, "Can you please pass me another brew-ha?"
Packoderm - 12-15-2003 at 09:27 AM
Oops; I was Mr. Anony that time.