Having stayed at Pufferfish recently, and several times in Loreto in general, I can tell you that this is a great area of town for investment and looks to be in the early stages of some nice development and I think any potential buyer will be rewarded with solid appreciation over the next ten years.
Great plan but here’s my thoughts ,you need 4-5 people units ( family’s even bunk beds ) and a pet friendly villa ( prevented us from staying there) many people traveling with dogs 🌴🐶🌵😄
At this time we are going for more of a couple's retreat theme. Think a mini Sandals. Our guests have almost universally commented that the best thing about our resort is that it is peaceful without kids and pets. There are many other options in town that do allow pets. Thank you for the comment
Many do and there are other great places in town that accept pets. We have had good success with our current policy and many of our retired guests have expressed that they like the no pets policy.
Wow love this idea you guys and that is a really good price I think also I wish I could do it can't but still want to get down there and stay in the villas someday Love Loreto... It really is magical Aloha Adios
WOW that's a good pricing for the lots indeed and awesome location, im sure you not gonna have a hard time selling them...that's a beautiful place to live too
That sounds like a really good idea, but mostly for investors cause regular folk like mussel would not have that much laying around for me to buy. As you know how things work in the states when one purchases property on credit.
True that most purchases in Mexico are cash, but there are tons of Americans and Canadians buying land and building houses down here with cash. There are six big houses under construction within two blocks of us, and some of those lots were over $400,000 USD for 8000 sq ft.
Rv spots don't pencil out. The break-even point is almost 10 years out. And we would be competing with the other RV parks in town which are all owned by Mexicans and I would not want to compete with them. It's one of the main reasons we went more luxury on our villas because then we aren't competing in the same market that all of the locals are competing for rentals. There's almost always open spots and several of the RV parks, so there really isn't a demand for more RV spots here.
The process is the same for any foreigner. We have several videos detailing all the different steps in the purchase process. The most important thing is to have a real estate attorney handle the transaction. Luckily our property is titled and has already gone through 20 years of ownership by Americans so there is very little chance that there would be any issues with the purchase
Probably not. We built for about $100 SQ ft. Even a small pool will cost you at least $25,000 USD. Landscaping will cost you almost as much as in the US. Buying plants is expensive. You also have to consider concrete flatwork outside, running utilities on your property, water storage, and most people build a wall around their property.
As an Airbnb host, there's not much profit once all the expenses are paid, not to mention the time it takes to keep everything running smoothly. Last guest left used hypodermic needles behind, as well as hundreds of dollars worth of other damage. 🤬
We are running about 78% profit margin right now. Should be able to push that up to 82 or 83. We forecast a 77% annual occupancy rate. Most of our guests are older retired couples so they leave the villas very clean
Great video, I've been following your project for a while as i wait to retire and blow out of Oregon and do a similiar project. Haven't studied the Loreto market but the price on your lots seems reasonable for the location. Is Loreto highly seasonal for US/CAD vacationers? Is there much of a market for small retirement rentals?
Loreto is definitely a snowbird town. Probably 10k snowbirds here over the winter and only a hundred expats at most live here year round. We have been booked over 90% occupancy since we opened in November so yes I would say there is a market for what we rent. Most people come back every winter after they find this town.
@@dooglassandesperanza Pretty similar to Huatulco if on a smaller scale. Mostly a MX national destination with a heavy Canadian snowbird presence Dec through April. The full time US/CAD presence is small but growing fairly quickly. Loreto is on my short list for future explorations, keeping your place in mind. Best with your venture.
We are just not interested in running a business. The goal is to get the villas running without our involvement and then we are free to do whatever we need to.
How about i infuse you with the cash, and you create even more villas, and we become equity partners? That is if your occupancy and ADRs are accurate and produces an acceptable ROI. Any thoughts?
Thank you but we aren't looking for any investors. The whole purpose of this endeavor was to give me something to do, and to create a stream of income for retirement that is under our control. Our goal is not to build a huge empire and get rich. I don't really care about money past having enough to live the comfortable lifestyle I do right now. I've been well off and I've literally been homeless sleeping under a tarp in the winter in Oregon so I know both ends of the spectrum. I know that money doesn't make me happy. The main goal of our strategy is to own everything 100% and be completely debt free. It is also to keep the holding costs low so that if some black swan event happens we can just hit the pause button and survive indefinitely without any income. Our holding costs on the entire property are less than two hundred dollars a month, and Mexico law doesn't allow seizure of property for not paying property taxes. Realistically in the worst case scenario we could have zero fixed costs and just hold and wait. Investors and massively expanding the property just means massive stress for us and that is exactly opposite of what we are looking for. Thanks again for your comment!
@dooglassandesperanza I love the response and much respect. I just wanted passivity while letting you continue to control and run everything 100%. I don't desire to mettle or try impede on your dream.
Thank you again for the offer. If we took on investors, then our focus would have to shift to maximizing the ROI for the investors. We are happy to focus on our customers and giving them the best experience possible. I guess I am jaded from working in the high tech corporate world for so long where the sole focus of the company is to increase investors value, always at the cost of the employees and even the customers. I was an expendable asset that would quickly be discarded if I wasn't able to continually take on increasing responsibility and produce never ending growth. Decades of dedication and high performance mean nothing if the company has a couple bad quarters, and needs to axe high earners to appease investors. We are building a business where customers and employees come first, and we as owners come second. We wouldn't feel comfortable asking investors to be a distant third level priority.
What’s the permitted distance from any shore in Mexico where non Mexicans can buy properties ? I wouldn’t like to see an abusive person to take advantage of they law in order to rip your dream off .
The restricted zone is 50km from any coastline and covers all of Baja. Inside the restricted zone foreigners need to buy property though a fideicomiso or a Mexican Corporation. We own a Mexican corporation that owns our property. There are hundreds of thousands of foreigners that own property in the restricted zone using these methods.
Outside of the restricted zone, any foreigner can directly own property in Mexico. In the restricted zone which is 50 km from any coastline and 100 km from any border you have to own property through a fideicomiso or a Mexican corporation. We own a Mexican corporation which owns our property.
Unfortunately the other commenter is correct. Pickle Ball can be very annoying right outside your bedroom window, especially if you aren't interested in it. They actually banned Pickle Ball from the tennis courts in the town we used to live in near San Diego because of the noise complaints. Also there is not enough area for a Pickle Ball court. There are several other places to play in town.
@@dooglassandesperanza You can't love pets or you would create an atmosphere for them. You are the King and Queen of your Kingdom and thus make the rules. I'll miss your adventures too but onward and upward we all go!
@queserasera1674 getting offended because they dont aloud pets at their place, is immature. It would be the same as me getting offended because you like to eat certain food that I don't like.
@elcolimense74 We all have to choose how to spend our time and I choose to spend mine watching channels which include animals. How you spend yours is up to you.
Very fair price for the location. Smaller lots three houses down the road are selling for $350k to $500k and there is a smaller lot across the street for sale for $1.3 million
@@dooglassandesperanza Still does not make 150K a bargain and y'all still need to build the house for???. Does it come with septic tank, power and water?
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Having stayed at Pufferfish recently, and several times in Loreto in general, I can tell you that this is a great area of town for investment and looks to be in the early stages of some nice development and I think any potential buyer will be rewarded with solid appreciation over the next ten years.
Thanks Jeff! spot on.
Great plan but here’s my thoughts ,you need 4-5 people units ( family’s even bunk beds ) and a pet friendly villa ( prevented us from staying there) many people traveling with dogs 🌴🐶🌵😄
At this time we are going for more of a couple's retreat theme. Think a mini Sandals. Our guests have almost universally commented that the best thing about our resort is that it is peaceful without kids and pets. There are many other options in town that do allow pets. Thank you for the comment
@@dooglassandesperanza Good call, retired couples tend to cause less issues and damage.
I agree. Most retired people have pets.
Many do and there are other great places in town that accept pets. We have had good success with our current policy and many of our retired guests have expressed that they like the no pets policy.
Up to date on your tetanus?
I love that you two love being there. 💖🐡🌴
Thanks
Loreto is a tough market. It's been an expensive place to stay as long as I can remember. Good luck!
All of our friends who have long running rentals that are high-end in loreto have very good occupancy
Good morning. Good to see you guys again.👍
Morning!
Nice job! About 10 years ago, I purchased cap cod garage plans and converted it to a home.
That is awesome!
Food for thought if they don't move quickly. Put in a fenced, secure vehicle/boat storage. Not many options like that near the LTO marina.
Good idea but I don't think the area is big enough for more than a few boats. It takes a lot of room to get in and out of those lots
Wow love this idea you guys and that is a really good price I think also I wish I could do it can't but still want to get down there and stay in the villas someday Love Loreto... It really is magical Aloha Adios
Thanks!
WOW that's a good pricing for the lots indeed and awesome location, im sure you not gonna have a hard time selling them...that's a beautiful place to live too
Fingers crossed!
Wish you guys the best, very affordable price for the area. 👍
Thank you
Great location and good prices for them lots.
Yes indeed!
You guys are the best! ❤
Thanks!
Love your videos,I started,about a week ago,when I found you,it’s beautiful,good luck in your adventure
Welcome aboard!
That sounds like a really good idea, but mostly for investors cause regular folk like mussel would not have that much laying around for me to buy. As you know how things work in the states when one purchases property on credit.
True that most purchases in Mexico are cash, but there are tons of Americans and Canadians buying land and building houses down here with cash. There are six big houses under construction within two blocks of us, and some of those lots were over $400,000 USD for 8000 sq ft.
For an extra fee can someone hire you to be the project manager?
That's an interesting question?????
Inflation has hit property in Mexico as well it seems. 150K for tiny lots. Guess there is no avoiding it.
There is a smaller lot than ours across the street that is selling for 1.3 million US
Another great video.👍
Thanks again!
Just a thought instead of selling those lots what about R,V spots for travelers,
Rv spots don't pencil out. The break-even point is almost 10 years out. And we would be competing with the other RV parks in town which are all owned by Mexicans and I would not want to compete with them. It's one of the main reasons we went more luxury on our villas because then we aren't competing in the same market that all of the locals are competing for rentals. There's almost always open spots and several of the RV parks, so there really isn't a demand for more RV spots here.
RUclips algo brought me here. Would live here. Subbed.
Glad you found us!
Do you have to build a house , or can you live in recreational vehicle?
You can do anything you want. Lots of people live in RVs on their property here
What’s involved for a Canadian to buy?
The process is the same for any foreigner. We have several videos detailing all the different steps in the purchase process. The most important thing is to have a real estate attorney handle the transaction. Luckily our property is titled and has already gone through 20 years of ownership by Americans so there is very little chance that there would be any issues with the purchase
Be safe and careful.😊👍🙏
Thank you, I will
Curious zoning options/restrictions?
Land is zoned for anything. Residential or commercial. You could build anything you want
Are you looking for an investor and how much?
We are not looking for investors but thanks for asking
If I purchased a lot, do you think I could build a two bedroom home with a small pool for about 130k to include landscaping?
Probably not. We built for about $100 SQ ft. Even a small pool will cost you at least $25,000 USD. Landscaping will cost you almost as much as in the US. Buying plants is expensive. You also have to consider concrete flatwork outside, running utilities on your property, water storage, and most people build a wall around their property.
As an Airbnb host, there's not much profit once all the expenses are paid, not to mention the time it takes to keep everything running smoothly. Last guest left used hypodermic needles behind, as well as hundreds of dollars worth of other damage. 🤬
We are running about 78% profit margin right now. Should be able to push that up to 82 or 83. We forecast a 77% annual occupancy rate. Most of our guests are older retired couples so they leave the villas very clean
Great video, I've been following your project for a while as i wait to retire and blow out of Oregon and do a similiar project. Haven't studied the Loreto market but the price on your lots seems reasonable for the location. Is Loreto highly seasonal for US/CAD vacationers? Is there much of a market for small retirement rentals?
Loreto is definitely a snowbird town. Probably 10k snowbirds here over the winter and only a hundred expats at most live here year round. We have been booked over 90% occupancy since we opened in November so yes I would say there is a market for what we rent. Most people come back every winter after they find this town.
@@dooglassandesperanza Pretty similar to Huatulco if on a smaller scale. Mostly a MX national destination with a heavy Canadian snowbird presence Dec through April. The full time US/CAD presence is small but growing fairly quickly. Loreto is on my short list for future explorations, keeping your place in mind. Best with your venture.
Why not do storage instead of selling it.
Building storage units would be a $400k to $500k investment and we don't have any money to fund that.
Storages bring good money. Build a few block garages. Gated entrance from the street. $100+ a month each unit.
@@dooglassandesperanza that investment would have a return. Selling it doesn’t. What about outdoor storage. Gravel lot. Gated.
We are just not interested in running a business. The goal is to get the villas running without our involvement and then we are free to do whatever we need to.
How about i infuse you with the cash, and you create even more villas, and we become equity partners? That is if your occupancy and ADRs are accurate and produces an acceptable ROI. Any thoughts?
Thank you but we aren't looking for any investors. The whole purpose of this endeavor was to give me something to do, and to create a stream of income for retirement that is under our control. Our goal is not to build a huge empire and get rich. I don't really care about money past having enough to live the comfortable lifestyle I do right now. I've been well off and I've literally been homeless sleeping under a tarp in the winter in Oregon so I know both ends of the spectrum. I know that money doesn't make me happy. The main goal of our strategy is to own everything 100% and be completely debt free. It is also to keep the holding costs low so that if some black swan event happens we can just hit the pause button and survive indefinitely without any income. Our holding costs on the entire property are less than two hundred dollars a month, and Mexico law doesn't allow seizure of property for not paying property taxes. Realistically in the worst case scenario we could have zero fixed costs and just hold and wait. Investors and massively expanding the property just means massive stress for us and that is exactly opposite of what we are looking for. Thanks again for your comment!
@dooglassandesperanza I love the response and much respect. I just wanted passivity while letting you continue to control and run everything 100%. I don't desire to mettle or try impede on your dream.
Thank you again for the offer.
If we took on investors, then our focus would have to shift to maximizing the ROI for the investors. We are happy to focus on our customers and giving them the best experience possible. I guess I am jaded from working in the high tech corporate world for so long where the sole focus of the company is to increase investors value, always at the cost of the employees and even the customers. I was an expendable asset that would quickly be discarded if I wasn't able to continually take on increasing responsibility and produce never ending growth. Decades of dedication and high performance mean nothing if the company has a couple bad quarters, and needs to axe high earners to appease investors. We are building a business where customers and employees come first, and we as owners come second. We wouldn't feel comfortable asking investors to be a distant third level priority.
@dooglassandesperanza then I wish you nothing but success and happiness!! Rooting for you
What’s the permitted distance from any shore in Mexico where non Mexicans can buy properties ? I wouldn’t like to see an abusive person to take advantage of they law in order to rip your dream off .
The restricted zone is 50km from any coastline and covers all of Baja. Inside the restricted zone foreigners need to buy property though a fideicomiso or a Mexican Corporation. We own a Mexican corporation that owns our property. There are hundreds of thousands of foreigners that own property in the restricted zone using these methods.
OOOhhh Booooyyy
Haha
What’s the Mexican price? 😂
2,509,000 pesos
Didn't know a US citizen could own land in Mexico
Outside of the restricted zone, any foreigner can directly own property in Mexico. In the restricted zone which is 50 km from any coastline and 100 km from any border you have to own property through a fideicomiso or a Mexican corporation. We own a Mexican corporation which owns our property.
Instead of
A
Putting green give thought to a pickle ball court.
That would run counter to the peaceful environment they're offering. Bounce, whack, bounce, whack, bounce, whack...
Unfortunately the other commenter is correct. Pickle Ball can be very annoying right outside your bedroom window, especially if you aren't interested in it. They actually banned Pickle Ball from the tennis courts in the town we used to live in near San Diego because of the noise complaints. Also there is not enough area for a Pickle Ball court. There are several other places to play in town.
150,000K👎
It's actually 150k not 150,000k 🤣
Uh-oh, i didnt realize you didnt like pets. Have to unsubscribe.
We love pets. They just don't fit into our Sandals like atmosphere. Sorry to see you go.
@@dooglassandesperanza You can't love pets or you would create an atmosphere for them. You are the King and Queen of your Kingdom and thus make the rules. I'll miss your adventures too but onward and upward we all go!
@queserasera1674 getting offended because they dont aloud pets at their place, is immature. It would be the same as me getting offended because you like to eat certain food that I don't like.
@elcolimense74 We all have to choose how to spend our time and I choose to spend mine watching channels which include animals. How you spend yours is up to you.
Like most of Mexico, I'm sure there are many street dogs you could pet in walking distance...🤔😉🤠✌️
$150,000 lol.
Very fair price for the location. Smaller lots three houses down the road are selling for $350k to $500k and there is a smaller lot across the street for sale for $1.3 million
@@dooglassandesperanza Still does not make 150K a bargain and y'all still need to build the house for???. Does it come with septic tank, power and water?