Many people today are considering buying a second home or vacation home in Mexico. Buyers often only want to spend a part of each year living in the home, since the financial opportunity definitely exists to make enough rental income – and then some – to cover the property's annual costs.
As a result, owning a purely hands-off Mexico investment property is an extremely desirable addition to any portfolio. You can generate income while the property appreciates in value, which is certainly not the case now, or any time in the near future, in the US. But how can this be accomplished?
The first factor to consider is tourism figures. Mexico's Riviera Maya, for example, which lies along the beautiful Caribbean coast, attracts large numbers of visitors, giving you a large pool of potential renters since it is a highly desirable vacation destination. More and more tourists are opting to visit here, staying in homes or condos, rather than having a canned resort experience. And consider this: Mexico's occupancy rates are averaging 65%, even in this harsh economic downturn!
Beyond the numbers of tourists and rates of occupancy, you of course need an attractiveMexico investment property that is in a desirable location. Amenities are key to potential renters and to your success in renting. The type and quality of the amenities your property offers will guide renters to you. Your furniture choices will even make a difference and it is an absolute must to find an excellent property manager; one who will take care of any necessary duties including the cleaning, bill paying, maintenance and repairs. With everything in place, you can expect rentals for 18-24 weeks of every year.
Growth in Tulum is also creating an urgent need for short-term accommodations. Right now, there simply is not enough supply and that gives you an excellent opportunity for profit.
Another alternative of truly hassle-free investing is with a condo-hotel. Your investment in a condo-hotel unit gives you access to a beach resort and the units are fully furnished, often with a guaranteed rental return from the resort hotel. This investment opportunity is completely operational with no work required on your part. You won't have to find renters; there are no condo fees, utility bills, repairs or maintenance to worry about. It's all taken care of, so you just relax and receive your quarterly ROI.
Investment Properties Mexico can guide you through the variety of options for owning vacation property in Mexico, providing you with a home-away-from-home and a significant profit on both your property investment and rental returns.
Author: Investment Properties Mexico
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