After years of going to Cabo Mexico for over 25 years and staying at a multitude of places we have found a place to build/buy some homes for vacation / long term rental. The only way to get on one of the greatest golf courses is to stay within the Pueblo Bonita area or have a home/rental in that area. We have met with a US builder that is building homes down there and a rental company that can help manage the properties, plus we (my husband, myself and my two grown children) would also be there often to make sure things were going positively. The plan is build a great vacation rental home that would average over 2500/night during 8 months of the year and over 1500/night for the remaining nights. (meanwhile we have a place in the same resort t so we can be present when need be). I have spoke to attorneys and accountants about making money in Mexico as a US citizen and learned we would need to get residency to not be taxed at a very high rate. I have also spoken to many of the owners in the area that rent their property and most have paid for their property within 4 years. Our goal is to pay this off and do it again. The property manager that we have been dealing with for 5 plus years takes 10-15% for property management. He also has 14 properties in the resort area that are always rented that he has bought into with his own money.
We found a lot that overlooks the ocean, Quivera Golf and the soon to be finished St Regis Hotel (which also go for 2500/night for hotel room) and the house can accommodate 12 - 14.
We are looking for an investor/for 2 million and we will put the final 1 million in.
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