by Gordon MacAlpine
Swimming Upstream – a guide to finding the right investment
With the vibrant economy in the Riviera Maya, investors continue to flock to this area, searching for the type of investment that will help fund their retirement and reduce their reliance on a volatile stock market. For many, this can be like salmon swimming upstream to the spawning grounds. With so much development and so many choices, how do you find the investment vehicle that is going to pay off with a satisfactory return?
The answer is quite simple. In a world without MLS services for Mexican real estate, here are three things to watch for when you make the decision to invest in your own piece of paradise.
The first is location. Treat this investment as a business. Would you invest in an area where there is little traffic, isolated from major centers and lacks the infrastructure needed to support growth. Of course not. The Riviera Maya area of Mexico is home to millions of visitors each year. The Cancun airport continues to grow with plans for a new fifth terminal on the way. The Mayan train is under construction. Think about this – off all the money spent by tourists every year in Mexico, 70% is spent in the Riviera Maya – that is 14 BILLION dollars a year.
Once you have picked your location, it’s time to find someone to help you. Once you register on a website, you will be inundated with calls from many different companies. But, remember this – how many of these companies just want to send you listings and how many want to help you find the property that YOU want. Listen to the language they speak. It’s important you work with an agent who speaks about your interest in an investment and understands that their job is to help you make money.
Finally, you’re ready to visit some of the amazing projects in the area. Listen to their pitches but ask the tough questions. What’s their track record? Is the project designed as something that will attract tourists who are willing to pay a little more for access to some luxurious amenities? Finally, and most importantly, are they transparent with their numbers? Do they have a track record of success? Some developers will talk huge returns but won’t back up their claims. Find the projects where they can show you real numbers and aren’t afraid to put you in touch with their clients who are already making money.
There you have it – there’s no time to waste. The sooner you get in the market, the sooner you can reap the benefits of one of the strongest real estate markets in the world in the Riviera Maya.