I first became interested in the idea of buying real estate during a trip to Cabo San Lucas. It was warm, tropical, walkable, and small. It just felt like paradise. I also liked the idea of having some money in another country, for currency diversification and asset protection. I have purchased five condos now in Mexico and have learned something new with each deal.
I had heard about the American buyers in Punta Banda near Ensenada who lost their houses. I read up on that a little bit and it sounded like they had built on leased land owned by an Ejido (a farming collective), bought into a deal that sounded too good to be true, and they should have known better. I defended Mexico against people who brought up that story. However, it turns out that there was quite a bit more to that story than buyers being swindled by an Ejido that tried to sell land that they shouldn’t have.
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