Anonymous - 11-30-2004 at 01:32 AM
Saludos cada uno. My husband and I are considering buying a 2b condo in or around the Los Cabos area. Our hope is that we would be able to rent it out
a week or two a month to pay expenses and enjoy it the rest of the time ourselves. In about 3-4 years we would relocate and buy a permanent place for
ourselves. We have been hearing that those expectations may be way too high unless we get a place smack on the beach. I was told there are better
places in Mexico to buy. Before finding this board all I had access to were people who want to sell me something. My questions are many, my hope is
that some can be honestly answered here. They are:
What is the market like in the Los Cabos area? Some reading says saturated, some says just about to boom. Any personal experience.... or advise?
We were also looking into buying a few boats and trying the panga business with a few locals who say they can fill them 15 days out of the month. Same
questions.... Any personal experience.... or advise?
We are exploring all sources and appreciative of any input.
Marie-Rose - 11-30-2004 at 09:30 AM
Hi anonymous!
First of all, from mucho experience in reading this board, I suggest you register with a name. There are MANY people with lots of experience to share
but I think you will be better received with a name.
Second, we did 7-8 trips to San Jose and then drove Baja before we settled on Todos Santos. There are so many great places that you really need to
visit first and then decide something about more permanent.
We always rented accomodations in San Jose. We never had any trouble but surely found that there were many empty units. If you are depending on the
income to survive, I would think twice. I would also agree that the accomodations by the water, or at least with water views, would be the first to
go.
Anonymous - 12-3-2004 at 09:59 PM
Marie-Rose,
Thank you for your feedback and advice. We have decided to take a few deep breaths and do some more research before we take another step.
Appreciate your taking the time.
Pangas
Heather - 12-7-2004 at 09:26 AM
I would say no to the panga idea, unless you are there daily to manage it.
My sister went in on a boat with a friend of hers from Cabo, but it didn't turn out very well. She made the majority of the initial investment, but
don't think she saw any returns. The captain always had some excuse about the gas prices, needing a new motor, new anchor, new paint, etc. The last
time we saw the panga it was in somebodies front yard...and this was from a friend that we'd known for at least 10 years!!
My sis' works for the airlines, so is not in Cabo daily, but at least once every 6 weeks or so.
If you're looking for a business, I'd talk to the woman that owns Baskin Robbins in Cabo San Lucas, I hear she wants out.
Saludos, H.
I agree with Heather
jrbaja - 12-7-2004 at 09:39 AM
on the Panga idea. You would surely be stepping on someone elses toes!
Fly Fishing Pam will probably have some ideas on this.
bajalou - 12-7-2004 at 09:56 AM
Always a need for junk yards around any town right?
A Mexican friend of mine has had a small one here in San Felipe. 4-5 years ago, he told me that a neighbor about 4 blocks away was going to open one
up with an American partner. He told me "In one year, the Mexican will have the money and the American will be gone" Haven't checked it all out, but
the yard has been closed and about empty for about 3 years.
Best to stick to what you know.
4baja - 12-8-2004 at 07:12 AM
saterated for years and getting worse. my buddy hade a condo down there and couldnt get it rented and ened up renting his trailer out on the beach.
they cant even fill the hotels that they have down there now and they keep building them. save your money and visit often.
synch - 12-8-2004 at 10:50 AM
Pangas, and anything in/around the sea, are going to be high maintenance items. When you do repairs, it will be expensive materials (stainless steel,
etc) and labor.
I've wondered about people buying places/businesses compared to just making extended visits. As a tourist, you can always move on .... not so with
the businesses!
[Edited on 12-9-2004 by synch]