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earlyretirement

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earlyretirement last won the day on September 28 2018

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  1. Some people still have that option but they are phasing it out. Here is an article that describes how to at least change appearance which many prefer. http://osxdaily.com/2018/09/30/change-gmail-back-old-versions-appearance/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+osxdaily+(OS+X+Daily)
  2. Yes, the rental taxes are high but I just pass that on to renters. I don't have any non-payers. I've rented properties for almost 20 years and never had a problem with that. I typically buy for the long-term so not as worried about capital gains tax but they are high in several places. The good thing is if you are paying a big capital gains it means the property appreciated significantly. And my theory with taxes is I'd rather make a lot of money and pay a lot of taxes vs. paying no taxes and making no money. I don't know anything about New Mexico other than what my friend is doing and built up. He doesn't seem like he has had too many issues and seems to have found a winning formula. He said most of his rentals now he gets referrals from existing tenants and that really has worked. Rentals and real estate in general is not for everyone. I definitely agree with that. But over the long-term it's been my most successful and most stable investment.
  3. Wow. Thanks for posting the photos as it gives good perspective. Just how far will the water go up towards those restaurants? Where it's flooded looks like where I usually park when I go into town. Do those restaurants there ever get flooding into their businesses?
  4. No one is getting trumped here. Some of you seem very angry and hostile. Why I'm not sure. That's ok though. No one said I'm a big time investor. I was just stating facts that this isn't my first rodeo when I got all the warnings to never invest unless a project was finished. I was pointing that out to tell you that I've purchased many, many properties. When you posted how screwed up there, I posted a photo to show you other places are more screwed up. It seems like the more detailed and objectively I'm posting the angrier some of you get. Again, why I'm not sure. LOL. Thanks so much Honeybee for that genuinely kind post. Absolutely we all have made some bonehead investments that lost money. I bought Washington Mutual stock two weeks before they went out of business. I lost $250,000 in two weeks. I thought I was catching the bottom. Everyone likes to talk about their winners but few talk about their losers. It's why I like real estate so much. Real estate in nice areas don't go down to $0 and at least all the ones that I've purchased over the past 20 years have all generated positive cash flow on rentals. Congrats and kudos to you on buying the 7 new apartments. Even if they are in a poor neighborhood that doesn't mean it wasn't a great investment if they are producing good positive cash flow. I'll tell you a true story. One of my friends is a lawyer. Pretty darn good and and successful in New Mexico. Well he started buying up cheap apartments and fixing them up. His tenants were mostly poorer Mexican Americans but they were honest, they paid on time and took good care of the properties. Every year he'd buy a few and fix them up. Then he started getting into neighborhoods that were still rough but he would bill the US government and had dependable rents. Last time I talked to him he had something like 35 of these and his cash flow far exceeded what he was making being a successful lawyer. So stick with it and if you can, keep building up a portfolio of properties. Just don't leverage or over leverage yourself. Good luck! Yes. I already own a large apartment there and I'm also looking to buy more there as well. I'm not thinking of buying in Chapala because I think it's some paradise. Sure it's nice enough. I buy where there are opportunities for capital appreciation and also mostly cash flow from rentals. It just seems like a place with the right set up where you can make good cash flow.
  5. Great that you have someone great that seems ethical, capable and honest. I got my high speed Internet in Guadalajara installed with Tel Mex. I've been really happy with how quick it is (I got 100 MB) service which was the fastest you can get. But one day it stopped working and dealing with Tel Mex was a hassle calling in. Luckily when the Tel Mex guy came out to install it I happened to ask his number if I had any questions. When it stopped working they came out and said it was the Cable. I'm not sure why but there is a really thin and delicate fiber optic cable that he said breaks all the time. I guess I wasn't dealing with TelMex because he said dealing with them would take a few weeks. He charged 400 pesos to replace the cable and voila! Right away it was fixed.
  6. I'm open to other projects but as far as I can see this is the only really upscale project that is approved and has reputable companies involved. I have asked them many questions but always good to get input from locals. The website is a bit confusing as it says "View from 6th floor" but they said the penthouse apartments are on the 5th floor.
  7. Well, I thought I was fake? LOL. Seriously as I mentioned, cash transactions are the norm in other places. I NEVER carry around cash in Mexico because you don't need to. Everything works very well in Mexico and the banking system was really quite stable. Property transactions are all with wire and everything is well documented. These message boards are to share information. In places like Argentina almost ALL of the transactions are ALL cash.
  8. Yeah, I think on this particular purchase it was around $270,000. Some of the money isn't in the photo. The crazy thing is armored guards aren't to be trusted (they are the ones that usually call their friends to rob you). So I was walking around with the money in a backpack to the closing. Safest way. This is nothing. I once purchased an old dilapidated building for $3.5 million and the seller demanded cash! So we are at the closing in the basement of the bank and they literally have the money in vacuum packed sealed plastic from the US Federal Reserve Bank (as that is how it's delivered) and the seller still wanted to count each bill by hand! Closing took about 4 hours.
  9. This place sure does sound like the wild west. Ha. But as mentioned, I've seen this type of stuff lots of times before. Mexico still is easy compared to some countries like Argentina where you have to literally show up to closing with $100 US bills. Now THAT is like the wild west. Here is a photo I snapped last year when I was buying a property in Argentina. Insane huh having $250,000 US in cash at a property closing? So maybe now you'll understand that I've seen a lot of stuff before. And yeah, maybe my risk tolerance level is a little higher than some of you gringos.
  10. I used them a few months ago. Had a GREAT experience with them. I'm not sure I'd use it to buy electronics or an expensive iPhone but they must have some protection program. My new apartment in Zapopan came with this fancy dishwasher installed. It was the first time I had a dishwasher that required salt. I can understand if you optionally wanted to use salt for hard water stains but the dishwasher wouldn't work at all without it! I couldn't find it anywhere in the store in GDL. I tried many places. Then I went on Mercado Libre and instantly found it. Was a bit pricey as I guess it's from the USA but it was instantly shipped from Mexico City and I got it in 2 days. Worked flawlessly. Also I'm a really convert to dishwashers that use this special salt. Glasses come clean crystal clear. Best I've ever seen.
  11. Hi Cedros, It looks to be Jatropha integerrima, commonly known as Peregrina or Spicy Jatropha. There is a free App on both Android and iOS called PictureThis Plant. You just snap a photo (I uploaded your photo) and it can instantly come back with what plant. Surprisingly accurate in my experience. Score one for your jardinero! https://floridata.com/Plants/Euphorbiaceae/Jatropha integerrima/818
  12. Hey Jack, Sorry to hear this happened to you. But twice? I'd think if it happened once you'd be vigilant and watch them like a hawk. Twice? Again, sorry this happened to you.
  13. Just out of curiosity, what causes/reasons do they have for releasing water through the dam? Also, I took this photo from one of the parties that I went to of a friend of a friend in Chapala. He had built a gorgeous modern home right on the water. I was curious how high the water can get. I assume the water can't get as high as the house as his yard was VERY big. But is flooding ever an issue for those homes right there on the water?
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