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Buying Tip
"Definitely think about why you want to buy it and how you want to use it," says Venezia. "This gives you a basis to start thinking about types of properties and where to look." If you're buying the house for your own personal use, you're free to purchase whatever strikes your fancy-and disregard what might attract tenants. But if you're counting on rental income to cover the mortgage, you should be more conscious of the home's location and appeal to others. "For example, you may prefer that secluded cabin in the mountains," Venezia says, "but many potential renters may find it to be too remote to rent."
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Seller Tip
"From a tax standpoint, buying and selling foreign real estate is not much different than in the U.S. Currently, there are no reporting requirements when purchasing foreign real estate. However, U.S. expats should be aware that if one transfers money to a foreign bank to facilitate a real estate transaction (and the balance exceeds $10,000), then this would trigger a requirement to file an FBAR (FinCen 114)."
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Rental Tip
" If you're willing to take the plunge, rental properties offer a rare opportunity to generate extra cash in post-work life. Indeed, a well-located unit in a middle-class neighborhood can produce an extra $200 to $1,000 per month after expenses.
"Real estate can be a wonderful asset to have in retirement, because when you have tenants, you have money coming in every month and, if you don't have pensions, that's important," says Barbara Pietrowski, a Certified Financial Planner in Roanoke, Va., who specializes in rental real estate."
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Greetings!
It is Agent Picks week! Take a look below and read what they have to say about their favorite properties! If you like any, please contact us for more information or a showing!
Mazatlan is a city of the future, says The Financial Times! There was also another great article about our fair city in The Examiner this week. Things are rocking and rolling around here!
We hope that you have a fabulous weekend!
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Agent Picks of the Month!
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4 bedroom / 4 bathroom
Size: 3,724 sq. ft.
Lot Size: 10398sq. ft.
$1,050,000 USD - Rare opportunity!
Agent Comments:
Unique opportunity available for the first time!
In Mazatlan, there are very few beachfront homes (around 40) and even fewer that are as private and well kept as this beachfront residence.
Located in a small private community of only 5 beachfront homes known as Bungalows de Rueda, this private luxury beachfront residence has recently been remodeled and upgraded. The grounds are spacious and immaculate, and feature a an amazing beachfront terrace with soaker tub, secure beach access, private patio areas, lap pool and tanning deck, lush gardens, and secure gated entry.
This property also shares 25% ownership of a well-kept tennis court just across the street inside the gated community and 15% of all common areas - that's a lot of prime real estate for a very special price!
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3 bedroom / 2 bathroom
$310,000 USD - FURNISHED!
Reduced from $329,000 US Dollars
MOTIVATED SELLERS!!
2271 sq. ft. - 474 sq. ft. balconies!
Agent Comments:
ONE CONDO PER FLOOR WITH ONLY 10 IN THE BUILDING WITH THAT AMAZING VIEW FOR HOW MUCH???? That was what most clients asked when I had the pleasure of selling Vue1200 a little more than 7 ago while it was under construction. It was a real pleasure to sell for so many reasons and it is still one of my favorite condos in Mazatlan. Here's some points to consider:
ONE PER FLOOR? When you get out of the elevator and walk directly into your condo, there is a definite WOW factor. It feels like a home with so much space. The open layout (about 45 ft frontage with the ocean!!!!) is one of a kind. The HUGE balconies with gas grills are unique and impressive.
What a vue! The building is located on one of the best points of the Malecon in Mazatlan. Not only is it the natural middle spot of the entire Mazatlan Bay, but also on the corner of Lola Beltran (protected views) which flows into Palos Prietos, a nice middle class neighborhood and some major amenities that are important in a more urban lifestyle.
SUPPLY AND DEMAND - of the hundreds of condos on the market, there is only ONE of these currently available for sale. And of the thousands of nice properties, there are only 10 like these. Think about that for a minute. There will never be another building like this at these price points. If someone wants a more urban Pacific Coast lifestyle in a spacious luxury condo, this is the ticket.
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2 bedroom / 2 bathroom
$309,000 USD - Furnished!
Agent Comments:
The best deal in Paraiso just came back on the market, but it won't last long! This 2 bed / 2 bath condo is the "02-A" floorplan which if you read on actually means a lot and is explained a little... It's honestly the best deal between the two Paraiso developments... Check out some of these reasons:
Protected balcony with view - the balcony is set back and thus is a little more private and is protected from the winds that can sometimes pick up from the north. It has a world class views of the islands, beachfront, common areas - foliage adds a nice touch.
The 2nd bedroom - it has a back balcony overlooking the east facing common areas (lake, gardens, parking area) - NO HALLWAY! This is not common on 2 bedroom condos... It also has a good closet space and direct ensuite access to the 2nd bathroom.
8% Return - while you may choose to keep this piece of paradise just for yourself, some may want to maximize their return on their capital investment. You can feasibly gross an 8% return with this condo.
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3 bedroom / 3 bathroom
$449,000 USD - Furnished!
Agent Comments:
Enjoy the 5 star lifestyle that Las Gavias Golden Shores offers - beachfront living at Mazatlan's most desirable address. 83 tower residences combining the pleasures of oceanfront living with the privleges of a residence club. This 6th floor 3 bedroom, 3 bathroom luxury condo is in pristine condition and is being offered totally furnished and equipped. Also included is an extra deeded parking spot as well as a large private storage locker. There were very few additional parking spaces available and even fewer storage lockers - a HUGE bonus.
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3 bedroom / 2 bathroom
$269,000 USD - Furnished!
Agent Comments:
This spacious 3 bedroom, 2 bathroom condo has a nice large balcony to enjoy all the views available, and has been upgraded with marble floors, granite countertops, custom kitchen and cabinetry, and has been detailed in its finishes. A great opportunity for anyone looking for a luxurious turn-key condo in Vue Centro Historico. The deal won't last forever though - this is a motivated Canadian seller and the US Dollar currency exchange plays a large factor in getting a condo like this at such a great price.
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4 bedroom / 5 bathroom
$215,000 USD - REDUCED!!
Agent Comments:
| This unique property has an outstanding yard with potential for expansion. It is located on the 5th green of the El Moro golf course in the gated community of El Cid. It has 2 independent properties, one on the main level and another on the 2nd level - great for rental income or for independent guest accomodations. The yard is expansive with a lot of potential to grow the property or just to enjoy the outdoors and view of the golf course. Enjoy the garden and birds or watch golfers make their approach to the green! |
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