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earlyretirement

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Everything posted by earlyretirement

  1. Great Intercasa! I just emailed you to your work email from your website. Yes, there are lots of South Americans that have invested in Florida. But also tons of Argentines are investing in their own country. Macri (President of Argentina) did a tax amnesty that brought back $100 BILLION back into Argentina in less than a year. I own many properties in Argentina and sold a few of them last month due to the increase in values. One of the conditions for those bringing their cash back into Argentina was they had to invest it in real estate or a business. All three that I sold were people that brought back their cash back into Argentina. Another reason why I sold some properties in Buenos Aires is inflation is a whopping 40% a year so my expenses were skyrocketing. I like that the inflation in Mexico is traditionally very low. The banking system works extremely well too. Guadalajara seems like it's growing tremendously so I think there are some good opportunities with capital appreciation as well.
  2. I'm just starting the process now. The property is being built now and not done until April 2018 so I have some time to do due diligence. I totally understand what some of you are getting at that there is no substitution for proper accountants and legal assistance. But I've also gotten a LOT of helpful information via public forums with the sharing of information. I understand that lawyers can refer accountants (and others) but I'm really interested in hearing opinions from actual people as well. I'd also appreciate any referrals to ethical and competent Notaries. I see Luis Enrique Ramos Bustillo listed in a few threads.
  3. NO worries. I have gone through the proper residency visa process in all the places I own real estate. I have also set up several S.A.'s and SRL's in various countries.
  4. Sure, I'm more than happy and willing to share any information that my accountant passes along as well as my experiences renting once it's up and running. Also, if anyone on this forum that owns real estate and renting has a good referral for an ethical accountant in Guadalajara, I'd also welcome any recommendations.
  5. Yes, I already mentioned that I have reached out to an accountant. Still the purpose of the Internet is to share information. It's quite valuable to do that. If you don't have any experience or knowledge on this topic then feel free not to share any information. This not only helps the OP, but potentially many other future people in years to come. I've been a part of many public Internet forums (including being the Moderator of several) and from my perspective, the sharing of information is never a bad thing. Yep, I realize this. I do realize that any information on message forums may not be accurate. Again, I'm asking for real life experiences from those that are in this situation. This isn't the "deep end" for me. Mexico is actually easy compared to other places I've purchased property and own real estate. For example, in Argentina it's physical $100 US bills and you literally pay with cash. (It's gotten much better the last year or two with Macri as the new President but still the majority of people want to be paid with cold hard CASH). I have successfully purchased and rented out many luxurious short-term rental properties in Argentina, Uruguay and Brazil. The target market is multi-national corporations, affluent tourists, US/Canadian/UK Embassies and Consulate offices employees that are traveling to/from these cities. Also, cosmetic surgery patients that are traveling to that country for surgery as well as to recuperate after the surgeries. From my experience, they don't want to stay in hotels. They want to stay in a high end luxurious property. I'm certainly not new to this. I've done the same thing in several cities and several countries.
  6. Hey all you rental experts. I do plan on consulting an accountant but I was curious to hear advice from those of you that are renting furnished properties. I just bought an apartment in Guadalajara that I will turn into a high end luxury short-term rental. I'm currently researching what the all in taxes are renting out the property on a short-term rental. Besides the annual property tax, which seems quite low compared to the USA and other places I own real estate, what are all the other taxes involved that are required as a non-resident American renting out their furnished property? I understand that there is an IVA tax (16% for interior of Mexico counties) as well as income/rental taxes. If someone can shed light on their experiences renting out short-term. I realize many probably don't declare all their income and therefore don't pay all the proper taxes but I always prefer to do everything legal. I also understand that there are several items deductible against the income tax like utilities, repairs, cleaning supplies, staff salaries, property management fees, property taxes and replacement of items, etc for Mexican citizens but looks like flat 25% tax on gross income for non-resident foreigners. I'm just trying to do some estimates of what the net taxes will look like. A huge thanks in advance for any information or insight you can provide on this topic along with your experiences. PS. I found this link online but it's a few years old so I wanted to see if this falls in line with your experiences: http://www.theyucatantimes.com/2014/11/facts-to-know-about-taxation-when-renting-your-condos-houses-or-villas-in-mexico/
  7. Thanks so much Islander! Greatly appreciated. I didn't realize Kreiss had locations outside of the USA. I'll check it out. I do like many of their pieces. typically very expensive but great quality. I did notice Bo Concepts there and I like some of their furniture but much of it is a bit too modern for me. But I'm sure I can find some pieces there too. Thanks More Liana. I'll check this out as well although I didn't see too much furniture on their website. Looks like they do a lot of custom made stuff. I wonder how prices would compare if I just showed them pictures and had them custom make it? I did this quite a bit in Argentina but the quality wasn't nearly as good as USA.
  8. Thanks. I'll ask around in the Mexico City forum. Yes, definitely I know modern Mexican (and modern in general) is in vogue. I just personally like higher end quality furniture as it last a lifetime. Restoration Hardware stuff is more expensive but all my stuff is really study and well made. I definitely could probably manage to buy in Mexico City and have it shipped but I'd like to avoid that if it's possible to find something really good in Guadalajara. I currently live in San Diego.
  9. Thanks but that stuff looks too old fashioned for my taste. I'm looking more of the lines of this stuff here - https://www.rhmodern.com Modern but not too modern.
  10. Hi everyone,I'm curious if there is a similar type high end furniture store like Restoration Hardware in Guadalajara? If so, can you tell me the names of any stores like this. Or any other high end furniture stores that you know of? My favorite type of furniture is the stuff on Restoration Hardware Modern - https://www.rhmodern.comPS. The only ones I could find online were these below so if you have any other suggestions besides these as I really prefer high quality stuff like from RH and these don't seem comparable:http://doblealturaespacios.com/http://www.karencollignon.comhttp://sofishome.com.mx I've seen mixed posts on various message boards about Mexico. Many say not to bother to ship but I can't seem to find super high end furniture in Guadalajara.
  11. Thanks Mainecoons. Yes, I'll contact Sonia once I get closer to taking possession of the property.
  12. New poster here as I just found this website. For all you experts, is there any downside or negative aspects to applying for permanent residency there? I don't plan on moving there permanently but wouldn't mind moving my family abroad for a year to practice their Spanish. I just bought an apartment in a new construction that will be completed next year in April 2018. From what I've been reading, it helps to have purchased a property there. The property is 6 million pesos. I wouldn't have any issues with the minimum cash balance as well as income stream as I own several properties that spin off cashflow and can show it. But I'd be curious if there are any downsides to getting permanent residency there? Thanks in advance.
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