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Lee
Ultra Nomad
Posts: 3508
Registered: 10-2-2006
Location: High in the Colorado Rockies
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You stated up front you need waves. That rules out everything but the Pacific side. My opinion is Baja doesn't start till you go South of GN.
''Rent'' in the Todos Santos/Pescadero area Pastora (N. of Todos) is minutes away with the new paved road. Pedrito and Cerritos 20 minutes from
Todos. Costa Azul is less than an hour from Pescadero and the Cape goes off late Spring through Summer.
A large ''lot'' 3 rows back from the beach (Pescadero) rents for $150/month and has water/sewer for RV. Get a used RV and check things out down
here. Infrastructure is great between Cabo and La Paz. Juanico is 6 hours from Pescadero, Conejo is half that. 9 Palms 3 hours away.
10 degrees difference between BCN and BCS, generally. Come down check it out. You'll see. No comparison between the two.
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Ateo
Elite Nomad
Posts: 5901
Registered: 7-18-2011
Member Is Offline
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Thanks all. Still monitoring this thread and it has helped.
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mirko
Junior Nomad
Posts: 60
Registered: 5-16-2004
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It's one thing if you are thinking of living there right away. It's another thing if you are just thinking of investing.
For example: I am nearing retirement (<5 yrs.) and I invest right here in Orange County, one of the most desirable places on earth. I can always
transfer my Real Estate investments to wherever I decide to live. I like to invest local. Local for now is here. Local when I retire will be there.
In addition, investing in CA you can get financing, which translates to leverage.
I've been an investor/RE mortgage broker for 35+ years. Retired 10 years ago at the top of my game, when mortgages were still an honest business and
before the sub-prime and easy qual craze. I still tinker with my own stuff. I'm a teacher now, in honor of my father.
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
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Buy Dirt
"They" are not making any more dirt. Buy as much dirt (land) as you can afford, with or without a house wherever you feel comfortable.
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mirko
Junior Nomad
Posts: 60
Registered: 5-16-2004
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Buying dirt is no fun.
1. No financing, usually
2. No income. Only expenses. Taxes, liability, weed abatement etc.
I have a friend who invested on a mortgage on a $2 million piece of land. After a while it was worth $1 million, as he foreclosed. Now he has a $1
million investment on a $1 million piece of land which is going nowhere. The property taxes alone are killing him. He used to own a junk yard which
was located in the path of progress. He rented out the land, so he had income and eventually sold it for a good profit. That's more like it. I
think you would have a hard time selling a piece of land which is to be a junk yard (cars) now due to enviromental regulations, contaminated dirt etc.
This was about 20 years ago. I thought of buying a 10 acre lot in Santa Maria or Paso for future building and retirement, thinking of renting it to
a farmer in the meantime. Found out that nobody will rent a 10 acre plot since it's not feasable to farm such a small piece.
Sorry to hijack the thread. I'll stop now.
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
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| Quote: | Originally posted by mirko
Buying dirt is no fun.
1. No financing, usually
2. No income. Only expenses. Taxes, liability, weed abatement etc.
I have a friend who invested on a mortgage on a $2 million piece of land. After a while it was worth $1 million, as he foreclosed. Now he has a $1
million investment on a $1 million piece of land which is going nowhere. The property taxes alone are killing him. He used to own a junk yard which
was located in the path of progress. He rented out the land, so he had income and eventually sold it for a good profit. That's more like it. I
think you would have a hard time selling a piece of land which is to be a junk yard (cars) now due to enviromental regulations, contaminated dirt etc.
This was about 20 years ago. I thought of buying a 10 acre lot in Santa Maria or Paso for future building and retirement, thinking of renting it to
a farmer in the meantime. Found out that nobody will rent a 10 acre plot since it's not feasable to farm such a small piece.
Sorry to hijack the thread. I'll stop now. |
Around here, dirt is a big thing.............dirt and grapes. They are even growing grapes up in Ojos Negros...... plant 5 acres of grapes and sell to
the wineries.
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bajagrouper
Senior Nomad
Posts: 964
Registered: 8-28-2003
Location: Rincon de Guayabitos, Nayarit, Mexico
Member Is Offline
Mood: happy and retired
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I believe not only in location,location,location but the life style you and spouse are used too.
If you can't live without Home Depot, that would limit you to a few large cities in Baja. If the wife had to have her hair done every week the same
would hold true.
If you were an isolationist or did not mind driving many miles to shop at a big box store or be near a bank then anywhere in Baja would be just
fine...
I personally don't like little mom and pop corner stores, I am used to a Safeway type supermarket, banks, restaurants, etc....So think about you
lifestyle for location...
I hear the whales song
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CortezBlue
Super Nomad
Posts: 2213
Registered: 11-14-2006
Location: Fenix/San Phelipe
Member Is Offline
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investing in real estate will make you look like a genius or an idiot
No one knows what the future of real estate holds and you have to live your life as comfortable as you see fit.
Me, I could easily live in a trailer, provided I had plenty of room around it to setup outdoor living. However, my wife, not so much. Also, if it
is hot and humid in the summer, I would want a more insulated structure to hide from the day time heat. For both of the above reasons we bought land
and buildt a more traditional home. It is held in a Fidi and I have no plans of ever selling it and will hand it down to my family. The cost of
maintaining a home in Mexico, that I hardly know that I have a house down south.
However, my great story make me look like a genius.
We bought a beach side condo in Oceanside, CA back in 2001, when Oceanside was not a very desirable location. We had been coming to Oceanside for 20
plus years and staying on the beach for vacation to get out of the AZ heat. When we bought downtown Oceanside was mainly full of bars, barber shops
and dry cleaners that catered to the local Marines from Camp Pendleton.
During our ownership, Oceanside began a large scale urban renewal program and leveled much of the older nasty buildings, but they saved the house that
was used in Top Gun! They even leveled the skate park that was near the pier.
Bottom line, we put the house up for sale in 2006, at what I think was the apex of the real estate market. We made a financial killing and a year
later, to anyone who knew me, thought I was a financial real estate genius.
And then the other shoe drops! I tell them that I bought land in Mexico and built a house! Half of the folks I talk to say, "why would you want to
do that??" The other half say, "Wow, where? Can we come down?"
Now, how long will it take for the Mexican government to figure out that they need to jack up the tax rates on beach front property. Currently we pay
$140 per year and get a 20% discount for paying in January. Now that I am a permanent resident, I no long have to pay any annual immigration fees so
our TCO is less than $2K per year including HOA water and electric!!
Viva Mexico!
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baconjr
Nomad
Posts: 128
Registered: 7-14-2012
Member Is Offline
Mood: Es la vida de perro!
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We are just finishing a home south of Ensenada. We had plans drawn up north of the border by a architect from Rosarito who works in the US and speaks
mexican construction. Our builder has been great but things are done differently in Mexico. Not a bad experience all in all. Take your time but don't
delay, the Mexican economy is growing at 8% and soon construction materials may get scarce.
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sargentodiaz
Nomad
Posts: 259
Registered: 2-20-2013
Location: Las Vegas, NV
Member Is Offline
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Okay, I'm also very interested about buying in Baja. However, I'd like to be within an hour or two of San Diego for availability to military
hospitals.
My wife is Mexican so I don't think we have any problems about buy land or an existing house. I am currently retired with a $6k per month income - not
including book sales. We are also depositing money in a Mexican bank under my wife's name.
My wife, of course, will have the major input as to where we finally buy and set down. But, she knows I'm set on finding beachfront property where I
can sit on the porch and watch the sun set over the ocean. I'd like the Pacific but a good location on the Sea of Cortez would not be that bad.
An aside - she's from Mazatlan so, while it's very, very south, it would be convenient to her if we were in the La Paz or Cabo area.
Any input?
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Terry28
Senior Nomad
Posts: 825
Registered: 8-25-2007
Location: S.Calif mtns.
Member Is Offline
Mood: Thirsty
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First you have to decide which it is...La Paz and Cabo are a lot farther than 1-2 hours from San Diego!! With that time frame, which I suppose is
driving time, you are pretty much regulated to Ensenada and surrounding areas. But if you meant flying time...different story..
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
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Islandbuilder
Senior Nomad
Posts: 555
Registered: 11-9-2011
Location: nob
Member Is Offline
Mood: bewildered
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In a discussion about border proximity as it relates to family vacation access, it was pointed out that Cabo, or La Paz, or Loreto are as close as
Ensenada, if you trade your car for an airliner.
On an monthly income of $6,000+ (which is triple what my wife and I will have if we work until I'm 66) I would think that you could live about where
ever you wanted to and just include airfares into your budget.
Even if we could afford that, I doubt I would, because I really would rather drive for 8 hours than fly for 2. But, to each their own.
We really have fallen in love with the area between San Quintin and La Bocana. A long stretch, I know.
That area provides remote and fairly empty beaches, good fishing, low real estate prices, the availability of all needed (but perhaps not all desired)
goods and services and small expat communities.
La Bocana is a long days drive, but still a days drive, from the border. San Quintin is about 5 hours from San Diego.
Anywhere in that area is a good base for exploring the entire penninsula, which is something that we plan to do in our retirement.
That's our plan anyway.
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apogee
Newbie
Posts: 15
Registered: 10-16-2013
Location: Bakersfield
Member Is Offline
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Never, ever take more into Mexico than you are willing to walk away from and never look back.
This word to the wise was brought to you by: Apogee
Mulege has a runway. Be sure to have a plan for Medivac too........
If there shall be war, let it start here.
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Ateo
Elite Nomad
Posts: 5901
Registered: 7-18-2011
Member Is Offline
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| Quote: | Originally posted by apogee
Never, ever take more into Mexico than you are willing to walk away from and never look back.
This word to the wise was brought to you by: Apogee
Mulege has a runway. Be sure to have a plan for Medivac too........ |
Good advice. Nice screen name by the way.
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captkw
Ultra Nomad
Posts: 3850
Registered: 10-19-2010
Location: el charro b.c.s.
Member Is Offline
Mood: new dog/missing the old 1
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small,small runway
good for tail draggers
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