babyface Posted December 30, 2016 Report Share Posted December 30, 2016 Has anyone had the help of a good realtor in Puerto Vallarta with a focus on beachside condos? (contact info?) Any recommendations for specific condo complexes, best beaches, etc? New to Vallarta area and looking for possible rental-income property. Thanks! Link to comment Share on other sites More sharing options...
pappysmarket Posted December 30, 2016 Report Share Posted December 30, 2016 Remember that you need a work permit to rent property in Mexico if you are not Permanente. Then register and pay taxes to Mexico and if you are American, remember you need to declare that income also. You will need a Mexican accountant to file your taxes on time every month and he/she will show you how to get a Factura for all expenses that you can deduct from your income. Does every landlord do this? Of course not. Want to play tag with the authorities? Go for it but the PV government is finally realizing how much revenue is not being collected and they are learning how to get it. They use the published occupancy rate for all the local hotels during the time frame they nab you for. Your published going rate times the number of days in question times that occupancy rate. There is your tax bill and they could care less if you were occupied more or less than the average. Pay up or leave Mexico, your choice and of course penalties and interest.If you are just going to rent to friends and family and have no online presence of your unit your chances of getting caught are probably very low. The type of realtor you seem to be looking for will tell you, nonsense, everybody does this. So go for it if you choose but don't say you never heard the other side of the story. Best of luck there are plenty of nice places for sale, you need to come down after high season and do your own due diligence. Right now they are concentrating on the tourists who fall in love with the place and just have to buy something before they leave. The same people who would never buy a timeshare but will buy the whole condo. It's fun to watch. Link to comment Share on other sites More sharing options...
RVGRINGO Posted December 30, 2016 Report Share Posted December 30, 2016 And....A foreigner cannot own the property. It must be held in trust by a Mexican bank.....fideicomiso. Link to comment Share on other sites More sharing options...
babyface Posted December 31, 2016 Author Report Share Posted December 31, 2016 New to the PV area, not new to Mexico, and am familiar with the system here. thanks for the info, still wondering if anyone has a connect with a good realtor in Puerto Vallarta, or knows of a well-run condo complex on the beach they could recommend? Link to comment Share on other sites More sharing options...
chicamysterious Posted December 31, 2016 Report Share Posted December 31, 2016 Angi at remax +52 1 322 121 6544 Tell her the Pilot sent you Link to comment Share on other sites More sharing options...
thomashellyer Posted December 31, 2016 Report Share Posted December 31, 2016 Hola, please send me a PM. I know a very good agent there. -Thomas Link to comment Share on other sites More sharing options...
dave0415 Posted December 31, 2016 Report Share Posted December 31, 2016 15 hours ago, pappysmarket said: Then register and pay taxes to Mexico and if you are American, remember you need to declare that income also. Just remember that the US/Mexico Tax Treaty provides that in this case taxes are only payable to Mexico so you have to file a Treaty Exemption for this income with the IRS. Of course if you are resident in the US then you have to declare the income and take a Foreign Tax Credit. Link to comment Share on other sites More sharing options...
pappysmarket Posted December 31, 2016 Report Share Posted December 31, 2016 Yup, that's correct. Link to comment Share on other sites More sharing options...
CHILLIN Posted December 31, 2016 Report Share Posted December 31, 2016 We had the perfect place for you - beachfront, southside, needs renovating, not in a condo or HOA association - but it has been sold, and the new owner seems to have no interest in reselling in this generation. Saying that, I have found Harriet to be the most important resource on old properties of Puerto Vallarta. You are really stepping into a potential mine field here - for example. one foot over the Federal tide zone (which changes, and is still changing) you are toast. This is on top of title problems, inheritance problems, insanity problems - these were the properties in first demand, and go back to times when documentation was weak or non-existent. On top of this - do you really want to be a Hotelier? It would be better to decorate and equip with the things you like, not worrying that they will get broken, stained or stolen. Do you really want to be called in the middle of the night by a renter who has discovered a mouse (baby rat) in the apartment, but she does not want to see it killed because she is a Buddhist. A wise investor I know is now looking at beachfront developments in Oaxaca, assembled by big league players. Great access to Puebla and Mexico City. Puerto Vallarta has picked up a severe case of the "Acapulco Syndrome" - which many people warned about, many years ago, and greed will fuel this disease far into the future. http://www.vallartadaily.com/uncategorized/cochran-real-estate/ I think this article describes what is going on in Mexican coastal properties. It is a few years old, but nothing major has changed for the positive http://www.cipamericas.org/wp-content/uploads/wp-post-to-pdf-cache/1/5500.pdf Link to comment Share on other sites More sharing options...
babyface Posted January 1, 2017 Author Report Share Posted January 1, 2017 Thanks all! Your info, tips, and recommendations. Link to comment Share on other sites More sharing options...
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