Erin and I began our investment vacation property journey like most people. We began vacationing and realized that certain regions were more attractive than others. When we started to return to our favourite locations, we naturally began to think about buying (or at least on how to reduce our expense of our vacations). We even started to think about how we could make money from our vacation property.
We will now share with you our story of how we became to own property in Mexico.
Building Wealth in Canada
At the early age of 20 we invested in our first property In Saskatoon Saskatchewan. In 2001 we moved to Alberta. I worked hard in the plumbing trade and a thirst for the building process and passion for real estate evolved further. Through more hard work I started a plumbing business and we became more involved with investing in real estate. We built and bought real estate in order to invest and we rented our properties to help build equity for our future.
Our plan was working well. Equity was being built. With all this hard work going on, we realized we needed a vacation! We combined our love for real estate and the passion for the mountains and bought our first investment vacation property in Kimberley, British Columbia. We started a website and rented our property when we were not using it. We used this property in both the summer and winter and continued to build equity through vacationers travelling to the area.
Typical Snowbirds Vacationing
Like most Canadians we needed to get away from the cold and snow at least once a year and seek some beaches and hot sun. We became sun seekers. Throughout the years we traveled to many destinations around the world. It didn’t take us long to figure out that Mexico was our preferred sun destination. This was due to the beautiful beaches, short flight and authentic, friendly culture. We traveled up and down the coasts of Mexico enjoying the many different areas, but over time, one area stood out from the rest. Once we found the Huatulco area, we knew we found our preferred sun destination. We traveled to Huatulco numerous times, enjoying the pristine beaches, consistently hot temperatures, low cost of living and most importantly lack of tourist population.
As we lay on the beach one lazy day we pondered how we could continue to visit our favorite sun destination while turning it into an investment. We thought, “Why not buy an investment vacation property in the Huatulco area like we have in Canada?” Immediately our minds stated to race with questions on how we could make this dream a reality.
We already knew we loved the Huatulco area in Mexico so we had a rough idea on where we wanted to be. Next we had to decide what kind of property we wanted to own. Upon returning home we continued to research what was available and how to start this process. I must admit, at first this was all very overwhelming. Buying real estate in another country seemed frightening and we were concerned about having our hard earned money stolen.
Doing Due Diligence (getting good advice)
We consulted real estate professionals both in Canada and Mexico to help bring security to our future investment and vacation property. We then booked another trip in the form of a ‘Stay & Play’ the next chance we had and stayed at Viewpoint at Puerto Angel, which we researched from Canada. Through doing our due diligence, consulting professionals and trusting some fellow Canadians who were developers we were able to continue through the process easily and safely and now we are living the Own Mexico dream!
We hope to see you in paradise and help you succeed with your very own, Own Mexico story.
With Kind Regards,
Check out our ‘How We Started 0.0 to Success' Roadmap