She say's don't invest in Mexico...I say at least not like she did....
- Thread starter lagrimas85
- Start date
mexicoruss
Lovin it in RP!
At the risk of offending you JJ...It is because of the comments that Jerry sometimes makes that scare people from commenting, and when they do comment they are met with a firestorm of flaming vitriolic responses from him....ergo they quit the forum. Some of these people have some good information to share, alas we lose them because they actually don't want to share any info if it means they have to endure the hate filled negative responses.
This forum, from what I understand is to be a helpful service to those who live here, want to visit here, or just want information on Rocky Point (IE Rocky Point Talk), I do not think (I might be wrong here) that it was ever meant to be a police blotter or crime blog, there are plenty of those you can scour for (you know, perspiring minds want to know)
It's sad really.
five, four three, two , one...........
playaperro
El Pirata
How'd we ever end up with this drifter (Jerry) and his scaredy cat followers? yes you know who you are. The only way we can get down south is with the homeport cruises and these people have no clue about travel down south.
dirtsurfer
Guest
Joan: I own in Miramar and commercial in RP. I have owned in Cholla and in San Quintin B.C.
I own in Arizona both commercial and residential.
The point being made was that with "professional" people and companies making commissions off of a transaction there should have been much more exceptional, experienced, and expert advice on the transaction. In general, if a "professional" is taking any fee or commission on a transaction then they are liable for the success of the transaction.
That said, the transaction we are all discussing may or may not have utilized "professionals" and the buyer may not have followed the correct protocols. Typical buyers usually are not experienced so they rely on "professionals" to guide them. If the "professionals" err or provide bad advice then they should be liable.
I own in Arizona both commercial and residential.
The point being made was that with "professional" people and companies making commissions off of a transaction there should have been much more exceptional, experienced, and expert advice on the transaction. In general, if a "professional" is taking any fee or commission on a transaction then they are liable for the success of the transaction.
That said, the transaction we are all discussing may or may not have utilized "professionals" and the buyer may not have followed the correct protocols. Typical buyers usually are not experienced so they rely on "professionals" to guide them. If the "professionals" err or provide bad advice then they should be liable.
jerry
Guest
If you guys were getting groceries in the middle of Caborca mid week last month and the machine guns started barking you might have a different view.Over 20 bodies found in the area and who knows how many buried in the desert.Some are just people in the wrong place at the wrong time (I have a story that would be on the first page on AZ Central that I cannot share about risks of driving at night(keep it up Russ and you will get your customers killed some day). A "drifter" like me that has actually seen a lot of the world generally feels pretty safe even in a kleptocracy like Sonora but I just came upon men with machineguns a mile from my house while driving my ATV at night photographing the night sky.I hope it gets straightened out.
I am not all negative I just think the real estate community and the guys with local businesses are not being straight with visitors. Look at all the good information that has come out on buying a condo in Mexico after the Bella Sirena story appeared/Even hustlers like Joan started to provide valuable information.Hiding the dirty laundry just works for a while.
El Tiburon
Guest
I was told the developers of Bella Sirena had all purchasers sign agreements that would only allow purchasers to sue the developers in Mexican courts for any issues. Someone mentioned in another post that Mexico does not allow piercing the corporate veil in order to go after individuals who hide behind corporate or LLC shells. To Dirtsurfer's point any "professional" realtor who participated in the transaction should be held liable for failing to do due diligence to make sure no issues existed that could harm the purchaser rather than just focussing on a commission. If the transaction in question involved a realtor I would focus on them as a source to recoup my loss for their negligence. Seems inconceivable a situation involving liens would go unnoticed in such a tight community as real estate agents. Just my opinion.
Most likely no realtor was involved in this transaction. As was mentioned in a previous post, developers don't typically use realtors; they have their own sales force.
jerry
Guest
https://rayraygo.files.wordpress.com/2012/02/cmci-application-3-7-0-mgmt-roles-resp-02-20-12.pdf place is beautiful but anyone that was going to buy should have read this
True, like for the couple that was on the latest episode of House Hunters International. My bet is that they probably did and emphasized getting their bank trust in place promptly.
We took a walk through the grounds last week and were really impressed with the place. Everything was immaculate. The grass was like a golf course (and no, not like the grass at the Las Palomas course).
Jim addresses the issue in his current newsletter released today:
Arizona News Outlets Wrongly Criticize Mexican Real Estate Ownership System
In typical fear mongering, sensationalizing fashion, a few "News" outlets are blaming the Mexican Government, the Mexican Real Estate Professionals, and just about everything Mexico for the troubles of a few owners at Bella Sirena Resort, here in Rocky Point, who are losing their condos due to a court proceeding in which unpaid workers won the case and seized assets of the original developers - who were still the legal owners of the condo or condos.
There is no denying that what happened was tragic to the few condo "owners" affected, but to cause the uproar and concern about investing in Mexico is so far out of bounds that it borders on ludicrous. It is easy to understand why the people affected reached out to news outlets - they no longer had any other recourse but to bring public attention to their situation in order to try and garner sympathy and, just maybe, someone will get involved and help just for the sake of stopping the bad press. As bad as I feel for them, that isn't likely to happen, and creating an unwarranted fear in others is not the way to make it right. Had they done things correctly, this problem would not exist for them today, period.
In Mexico, just as in the USA, to say that there are never problems with title, there are no shady deals, no bad Real Estate Agents, or no developers who don't pay their bills would be totally untrue, but legal problems are exceptionally rare when a Buyer, Investor, or even a Renter does their homework, follows the law, and uses only reputable representatives and attorneys. Things in Mexico do work a little differently than they do in the USA, but the way that a potential Buyer approaches a purchase should be exactly the same. Do you think that someone in the USA would go for several years without asking why a property has not been transferred into their names? I think not, but because this is Mexico, it becomes a problem of the System, the Government, and the Country, rather than a problem with a Buyer or Investor who didn't use due diligence before plunking down a bunch of money, or who didn't follow through with the correct procedure afterwards.
I'm sure that this story will eventually reach someone from the news or social media who will want to cause another stir and they will contact me to "call me out" on my statements. I will not be making comments because it is an absolute no-win situation. The way that things are twisted and distorted in most (maybe all) "News" stories, it wouldn't matter what I said. They would print what they wanted or what they thought would get the most attention anyway. I truly believe that there is no such thing as balanced reporting in this day and age.
Here is the truth: First and foremost, don't leave your common sense North of the Border. It just baffles me how people will spend money here in Mexico without checking things out and following the proper procedures - something that they would never ever consider doing back home. If you follow the rules, work with a knowledgeable professional with a good track record and reputation, and if do your homework, you can absolutely buy property in Mexico without risk - Just as it is in the USA. I started investing in and around Rocky Point about 15 years ago. I did it right and, guess what, I have never had a problem. My best advice is to always think Bank Trust (Fidecomiso in Spanish). That is your title and your proof of ownership. If you do not have a bank trust, you do not actually own the property. It also never hurts to consult with a reputable attorney. If you ever have questions as to what the proper procedure is, or if you ever want me to check our your individual situation, just let me know and I will be happy to help.
The Sonoran Resorts are the most rock-solid company on the beach (maybe in the State) and our three developers/partners are the same people that have been here since 2001. In our four fully completed developments, we have Zero liens on any of them. We have Zero cases in which someone could not get a bank trust. We have Zero lawsuits, pending lawsuits, or potential problems, and there are Zero outstanding debts on any of the Sonoran Resorts developer properties. We have over 14 years experience on Sandy Beach without any problems. You can find me in my office every day. You can find our CEO in his office every day. We are always here to help and to answer your questions.
If you want to work with a reputable company, it doesn't get any better than ours. All of our Sales Agents are true Buyer Representatives whose only job is to find and represent Buyers. Myself, and my Office Manager work with the Sellers. That way, both parties have fair representation. All transactions are supervised though a third party attorney - one that we recommend or one of your own choosing. We cover all the bases to keep you safe.
Sorry. You can see that I'm a bit passionate about this subject. I'll get down off my soapbox now...
Arizona News Outlets Wrongly Criticize Mexican Real Estate Ownership System
In typical fear mongering, sensationalizing fashion, a few "News" outlets are blaming the Mexican Government, the Mexican Real Estate Professionals, and just about everything Mexico for the troubles of a few owners at Bella Sirena Resort, here in Rocky Point, who are losing their condos due to a court proceeding in which unpaid workers won the case and seized assets of the original developers - who were still the legal owners of the condo or condos.
There is no denying that what happened was tragic to the few condo "owners" affected, but to cause the uproar and concern about investing in Mexico is so far out of bounds that it borders on ludicrous. It is easy to understand why the people affected reached out to news outlets - they no longer had any other recourse but to bring public attention to their situation in order to try and garner sympathy and, just maybe, someone will get involved and help just for the sake of stopping the bad press. As bad as I feel for them, that isn't likely to happen, and creating an unwarranted fear in others is not the way to make it right. Had they done things correctly, this problem would not exist for them today, period.
In Mexico, just as in the USA, to say that there are never problems with title, there are no shady deals, no bad Real Estate Agents, or no developers who don't pay their bills would be totally untrue, but legal problems are exceptionally rare when a Buyer, Investor, or even a Renter does their homework, follows the law, and uses only reputable representatives and attorneys. Things in Mexico do work a little differently than they do in the USA, but the way that a potential Buyer approaches a purchase should be exactly the same. Do you think that someone in the USA would go for several years without asking why a property has not been transferred into their names? I think not, but because this is Mexico, it becomes a problem of the System, the Government, and the Country, rather than a problem with a Buyer or Investor who didn't use due diligence before plunking down a bunch of money, or who didn't follow through with the correct procedure afterwards.
I'm sure that this story will eventually reach someone from the news or social media who will want to cause another stir and they will contact me to "call me out" on my statements. I will not be making comments because it is an absolute no-win situation. The way that things are twisted and distorted in most (maybe all) "News" stories, it wouldn't matter what I said. They would print what they wanted or what they thought would get the most attention anyway. I truly believe that there is no such thing as balanced reporting in this day and age.
Here is the truth: First and foremost, don't leave your common sense North of the Border. It just baffles me how people will spend money here in Mexico without checking things out and following the proper procedures - something that they would never ever consider doing back home. If you follow the rules, work with a knowledgeable professional with a good track record and reputation, and if do your homework, you can absolutely buy property in Mexico without risk - Just as it is in the USA. I started investing in and around Rocky Point about 15 years ago. I did it right and, guess what, I have never had a problem. My best advice is to always think Bank Trust (Fidecomiso in Spanish). That is your title and your proof of ownership. If you do not have a bank trust, you do not actually own the property. It also never hurts to consult with a reputable attorney. If you ever have questions as to what the proper procedure is, or if you ever want me to check our your individual situation, just let me know and I will be happy to help.
The Sonoran Resorts are the most rock-solid company on the beach (maybe in the State) and our three developers/partners are the same people that have been here since 2001. In our four fully completed developments, we have Zero liens on any of them. We have Zero cases in which someone could not get a bank trust. We have Zero lawsuits, pending lawsuits, or potential problems, and there are Zero outstanding debts on any of the Sonoran Resorts developer properties. We have over 14 years experience on Sandy Beach without any problems. You can find me in my office every day. You can find our CEO in his office every day. We are always here to help and to answer your questions.
If you want to work with a reputable company, it doesn't get any better than ours. All of our Sales Agents are true Buyer Representatives whose only job is to find and represent Buyers. Myself, and my Office Manager work with the Sellers. That way, both parties have fair representation. All transactions are supervised though a third party attorney - one that we recommend or one of your own choosing. We cover all the bases to keep you safe.
Sorry. You can see that I'm a bit passionate about this subject. I'll get down off my soapbox now...
El Tiburon
Guest
I'm told Bella Sirena used a third party realtor group. I think it was called The Coastal Group.
jerry
Guest
Jim...pretty hard hearted....if I was that lady i would keep the pressure on too.I have contacted the designer of the resort to see if he knows how to contact the pelican guys...going to hire some guys off craigslist to protest in front of their new businesses. F them and the HOA at Bella. Who is next comes to mind..
El Tiburon
Guest
The 60's are alive and well!
The pelican guys are the ones to go after. Seems like the HOA did their part. Somebody posted something from an HOA Bella newsletter that encouraged owners to get their bank trust in place. What more are you expecting from the Bella HOA?
jerry
Guest
You know when an old lady needs help in my tucson neighborhood we come together and help her.Some help with cash for materials,some paint and repair coolers,some drive her to hospital or doctors appointments....It is what neighbors do. The HOA are her neighbors,she has been described as a "super sweetheart" that could be saved if everyone in the building threw down 500 bucks.... just the fact that people do not get this speaks volumes about the Rockypoint Real estate community. It also is so damn stupid business wise. The "expat community saves old lady" story would have brought more sales than things like Jim's dumbass "granny shaming" blo.I say this as a guy that admires Jim and prays to Odin for his success.
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It's not hard hearted at all. He's just telling it like it is. Follow the correct procedures and get your bank trust in place. Then there will be no problems.