Jul
02
Need financing for Mexico real estate! How do i do it with absolutely no down money of my own?
By
westphalia1 asked:
I am interested in acquiring Farms/ranches in Mexico or active business in Acapulco. Bank financing is available to USA residents for these properties. However-20-30% Downpayment is required to get the financing. How do i get (investors) downpayment without using ANY of my own assets which i don’t have to cover it? All the properties mentioned are income producing and in mexico.
I am interested in acquiring Farms/ranches in Mexico or active business in Acapulco. Bank financing is available to USA residents for these properties. However-20-30% Downpayment is required to get the financing. How do i get (investors) downpayment without using ANY of my own assets which i don’t have to cover it? All the properties mentioned are income producing and in mexico.
2 Comments
July 4th, 2009 at 7:08 pm
Good luck with that. The Mexican laws about foreign ownership are tough. I think the coastal zone is 50 kilometers, in which we aren’t allowed to own the property, but can only control it through a fiduciary bank. And good luck with title insurance.
If you find investors willing to spend money on this high risk project, send them my way. I’ve got a couple bridges I need to finance.
July 4th, 2009 at 7:42 pm
greed will get you no where and especially if you think that no down is an option