Post: #1

Please advise, do I need an FM3 for this?

I am aware of obtaining a bank trust, this would not be an issue... but some tell me that I also need the FM3, one for me and for my wife. I'm told I can get that if I show 15,000 dollars in a bank account.

Anyone have info on buying south of the border, will be investing next year, lived south of the border for a few years and really enjoyed it, would like to raise children there at least 6 months out of the year.

Post: #2

Hey Badwolf,

I've been living in Mexico for 3 years. 2 years in Playa Del Carmen, 1 year in Mazatlan.

I was able to get an FM3 very easily by showing 15k - 20k cash in a bank account, but the rules changed here in Mexico recently. I have not had a chance to read up on the changes but I believe they are no longer issuing new FM3 visas.

Having said that you won't need an FM3, or the new equivalent, to purchase property. A Tourist Card (FMT) and your passport/birth certificate is sufficient.

Post: #3

Thanks so much!!!

I have been pouring over Mexican real estate on the web here for the last 3 weeks. This is exactly the answer I was looking for. I was in Toluca, Puerto V and GDL for 3 years also... Do I need 40k if I bring my spouse or do you think she can show the same 15k to get an FM3 (She's Chinese)? So far the cheapest property I've been able to locate is in Tijuana for about 6,000 USD... theres no way in hell I'd move up there though. I can't remember exactly the prices but I know where I was in GDL, there were houses (a few years old) for around 10k each. An FM3 is not super important for me but being able to buy property on the FMT, that is such awesome news, thank you man, you have just made my day!!!

I think I will likely invest in Sinaloa or Leon, I imagine Mazatlan is pretty expensive. Just a 3 bedroom is enough for me, I want something to leave my kids in the future.

Post: #4

You don't need a special visa or residency to buy real estate in Argentina. You need to apply for a tax number (CDI) and have a way to bring the money into the country en blanco.

Post: #5

(02-13-2013 06:13 PM)gsinplaya Wrote:  I've been living in Mexico for 3 years. 2 years in Playa Del Carmen, 1 year in Mazatlan.

gsinplaya,

Welcome aboard.

Can you share some Playa Del Carmen and Mexico Data for the crew?

Didn't mean to derail. Carry on.

Post: #6

Just my 2 cents, I would strongly adivse against buying any property in Argentina. Lived there 3 years ago, and the market was uncertain already.
After Repsol story and other ideas of Sra Kirchener I can bet that sooner or later properties/businesses belonging to foreigners will be taken into posession by the state, this way or another.

Post: #7

Uruguay is a safe, quiet, stable place to buy property. It's as worry-free as it can get in this region if your plan includes raising children. As far as I know, there aren't any major or insurmountable legal obstacles to invest as a foreigner.

Punta del Este will be probably significantly more expensive and it's a place that comes to life mainly during the high season for more upscale beach goers.

Montevideo would be IMO a better place to scout for better ratios of quality-price of property. I really enjoy the city although it's definitely a quiet place where you'll need to build up a social circle in order to enjoy it.

As for Argentina, although it's very true the current government is doing it's best to fuck up things on a more macro level, I really don't see them confiscating urban residential property owned by individual foreign citizens.

On the contrary, the overall negative perception of the situation could actually create opportunities to find bargains.

Post: #8

(02-18-2013 11:38 PM)artur jedi Wrote:  Just my 2 cents, I would strongly adivse against buying any property in Argentina. Lived there 3 years ago, and the market was uncertain already.
After Repsol story and other ideas of Sra Kirchener I can bet that sooner or later properties/businesses belonging to foreigners will be taken into posession by the state, this way or another.

Dont worry about that, those actions were pure propaganda, bread and circus. Private properties of foreigns are safe. in fact, if you bring dollars, you are in a good position. Argentinian peso have been a lousy reserve value for years, and propertie owners prefer to deal in dollars.

Post: #9

True, all the prices for real estate were quoted in US$ when I was there. Will see how the situation develops, I'm curious myself.. Hopefully Arg is not going back to what it had in 2001...

Post: #10

Badwolf - i'm not sure what the new rules for the fm3 equivalent are but I suggest if you don't need to get it then avoid the hassle as I'm told the new requirements are more strict.

I'm only familiar with property in Playa Del Carmen. You can buy a decent size 2/3 bedroom condo for between 15k - 30k here.These properties are new but you will be 10 minutes drive from the beach and the main part of town (5th street).

Unfortunately you wont find much information about these properties online as they are advertised mostly via local magazines, newspapers etc.

Something to watch out for when you decide to purchase a property. Some land in Mexico is considered "ejido land" which is basically community owned land and you should be very careful purchasing a property in these areas.

Alot of new developments are being built on ejido land and whilst these areas often provide the best deals it will be a painful process getting the property title in your name.

Hope that helps.

Post: #11

(02-19-2013 04:18 PM)gsinplaya Wrote:  I'm only familiar with property in Playa Del Carmen. You can buy a decent size 2/3 bedroom condo for between 15k - 30k here.These properties are new but you will be 10 minutes drive from the beach and the main part of town (5th street).

What is the cost "in" town?

Post: #12

(02-19-2013 01:16 PM)artur jedi Wrote:  True, all the prices for real estate were quoted in US$ when I was there. Will see how the situation develops, I'm curious myself.. Hopefully Arg is not going back to what it had in 2001...

Whit a little luck, no, not again 2001, but Kirchnner and her gang will leave the country in a bad state...

Post: #13

(02-19-2013 04:39 PM)thegmanifesto Wrote:  

(02-19-2013 04:18 PM)gsinplaya Wrote:  I'm only familiar with property in Playa Del Carmen. You can buy a decent size 2/3 bedroom condo for between 15k - 30k here.These properties are new but you will be 10 minutes drive from the beach and the main part of town (5th street).

What is the cost "in" town?

Hard to give exact figures...but I'll give you a rough guide from my experience.

You could find a studio apartment for 75 - 100k....a short walk from 5th street. For example in the area around Mega, Walmart, Fogon etc

On 5th street for a studio you'd be looking at 150k + and anything bigger than that It would be hard to find anything under 200k.

Whether renting or buying you can find some amazing deals by avoiding real estate agents/internet sites. The best way to get good prices is to decide on what area you want a place and then walk the streets looking for houses with for sale/for rent signs and enquiring directly. Not the most efficient process but worth the hassle.

I haven't purchased in Playa but by doing this I was able to rent a big 4 bedroom house just off 5th street for $700 usd month. I'd say using this tactic when purchasing a house would save you a huge amount of money.

Post: #14

Somewhat related, Sovereign Man (blog) writes a lot about Chile and its ease for business / property ownership. Came to mind as he also mentions Uruguay as very friendly. Maybe check out his blog for some more data.

Post: #15

http://internationalliving.com/2012/03/t...s-in-2012/

Owning a beach house close to surf, that would be something.