Recently, one of my contacts, Fletcher Wheaton, visited an under-the-radar beach city in the “other California”…
This is a destination where cactus-studded hills roll down to stunning white-sand beaches and glistening turquoise waters. It’s also a place where you’ll find incredible real estate bargains like these…
- A two-bed, two-bath fixer-upper with huge potential and just seven minutes’ drive from the sea for only $138,000…
- A stunning modern three-bed home with a pool that was built in just 2022 and is being sold in turnkey condition for only $288,000.
- A vast, 2,500-square-foot, four-bed house with a pool that comes furnished and sits on a generous plot with space to expand or build other properties on site for rental income… (plus the price is mind-blowing!)
Fletcher recorded a video showcasing this incredible city and walkthroughs of the three stunning homes above. Click below to view…
This booming beach town in the “other California” has sensational real estate bargains, as my contact Fletcher Wheaton highlights in this video. Click to view.
Fletcher is a real estate broker and a long-standing member of my Real Estate Trend Alert group.
The city he visited is La Paz, a destination that I’ve scouted numerous times in the past several years. And it’s a place that I believe has an incredible future.
While La Paz was overlooked for many years, it’s now coming into its own…
The malecón (seafront promenade) has been renovated. Chic restaurants are opening, and the foodie scene is growing. This city is gentrifying thanks to the new arrivals such as retirees, digital nomads, and trendy work-from-anywhere folks from Austin, San Francisco, and Mexico City.
There are new resorts and high-end residential communities too…all drawn by the mesmerizing coastline here, which is among the most beautiful I’ve seen anywhere.
Yet for the moment, you can still get incredible real estate bargains in La Paz.
In fact, one of the opportunities Fletcher found here was so strong and so compelling that I rushed it out to my Real Estate Trend Alert group as a flash deal.
This was a different home…not included in the video above. It was a four-bed fixer-upper a mere three-minute drive from the ocean.
This home was on the market for $247,000. That works out as just under $200 per square foot, significantly below the market average in La Paz. That’s because a lot of people don’t want to take on a renovation project like this. So, this home was undervalued.
But if you were willing to put in the time and investment, this could be an incredible play…
Figure on spending somewhere in the region of $100,000 to expand and improve it. In this budget you might have enough to add a pool. If you did, five years from now I’d expect this home to be worth $550,000 and with the right configuration could be throwing off $50,000 a year in rental income.
A walkthrough that Fletcher completed of a home on the market for $247,000. I was so impressed by this opportunity that I rushed it out to members of my RETA group as a flash deal. Click to view.
This deal shows the incredible potential of La Paz.
And in fact, right now I’m working on a potential deal here to bring to members of my RETA group. More details if and when the right deal comes together.
In the meantime, be sure to check out Fletcher’s overview video on this stunning destination…
In this video Q&A, attorney Ivan Castillo explains how a fideicomiso works and how much it costs.
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. For more listings of affordable overseas dream homes in stunning destinations around the world, click here to follow our Your Cheap Dream Home Instagram account.
Questions and Feedback
Have a question or comment about buying or owning real estate overseas? Any destinations you’d like us to scout? Want to know where to find bargains in the “other California?” Share your question here. Here’s one I got recently…
Bill asks: Can you own real estate internationally if you don’t have citizenship?
Ronan says: Hi Bill. Good question, as I know a lot of people wonder about this.
The answer is yes!
In every country on my beat, you are allowed to own property there without being a citizen. In fact, you don’t even need to be a resident. Americans, Canadians, and other foreign citizens can freely buy property throughout most countries in Europe, Latin America, and the Caribbean without holding citizenship or residency in that country.
Having said that, non-residents/citizens may find that in some countries there are different rules when it comes to buying property.
For example, in Mexico foreigners can’t own real estate directly in their own name if it lies within 31 miles of the high tide line, or within 62 miles of Mexico’s international borders. But they can own the property in these areas using what’s called a fideicomiso—a form of trust. This is a popular and safe option used by many foreigners when buying real estate in Mexico.
Last month, the attorney I and many RETA members use in Mexico, Ivan Castillo, did a video Q&A answering your questions on buying and owning real estate there. And during this video, he explained what a fideicomiso is and how it works. Click to view…
In this video Q&A, attorney Ivan Castillo explains how a fideicomiso works and how much it costs.
The flip side of this is that some countries will actually give you residency when you buy real estate there.
So-called “golden visas” are popular options for real estate investors who want a property in a particular country, want to spend time there, but also want to quickly get residency. For example, if you avail of Greece’s Golden Visa and invest at least €250,000 in a property (note, this figure is due to increase later this year), you’ll receive a five-year residency visa that’s renewable so long as you still have the property. Being a Greek resident then gives you visa-free access to the 29 countries in Europe’s Schengen Zone.
So although you don’t need to be a resident or citizen to buy real estate in many places around the world, there are countries that will offer it to you…along with all the benefits that come with residency status.
If you have a question or any feedback, I’d love to hear it. Let me know here.
