Mexico has many cultures and lifestyles, so it can be challenging for a foreigner to move, buy, sell or rent real estate here in Baja; this video will help you understand Mexico better!
Kenneth Huseman gives you the information about How Foreigners can get Titles in Mexico.
U.S. Citizens can own property in the restricted zone which is all about Baja California essentially and I want to say right off the bat that the 99 Year Lease is it just not true, that’s a false thing, it was made up by the media. Nobody has a 99 Year Lease and the only Legal Lease in Mexico is a Ten Year Lease.
Invest in Mexico. Use your IRA (Individual Retirement Account) retirement savings to purchase an investment property without creating a taxable event! Put your IRA money to work now. This money can be used to purchase investment properties. Any investment property that actually earns income qualifies. Owner-occupied properties will not work.
American banks will not finance on properties in Mexico. Financing options in Mexico have very high-interest rates with short terms of only 5-10 years result in high mortgages payments. This is a perfect solution to purchase properties in Mexico.
- Setup the U.S. government/IRS approved “custodian” account and roll over the funds into this account. Then, the “custodian” provides a check to this bank account for the LLC which is used to buy the property.
- As rental income is paid, it will be deposited into this bank account. The account owner can then, write checks to the “custodian” account. This cash can roll over into any approved IRA brokerage accounts such as Schwab, Merrill Lynch, etc. Then, these funds can be invested in securities.
- Most investors are not aware of the fact that they may use an eligible retirement plan to invest in real estate of any kind.
- Eligible retirement plans for this purpose are any type of IRA (Traditional, Rollover, SEP, ROTH, etc.) and 401k or 403b plans (or any other defined contribution plan) held with a former employer.