This is advice I’ve given before, and it is especially true for newcomers to Mexico who are still just getting a feel for how things work here:
Don’t do it yourself if a professional out there can do it for you!
There are several reasons for this; some are fairly universal, others are specific to the fact that you are an American or Canadian investing in a property in Mexico:
Sometimes it’s free – For example, having a dedicated buyer’s agent working for you when you are searching for a property doesn’t cost you a cent. Their commission comes from the seller. Why not have a professional looking out for your interest, especially if you don’t have to pay?
Sometimes it saves you your money back – In the case of a professional constructor, for example, they will know little things that have to be planned ahead, coordinating each contractor so jobs won’t have to be redone. You’ll be paying the constructor, but at least some of this will be saved back by avoiding duplicated work.
It will save you time – While the professionals do the work for you, you can dedicate your time to other things. If it is income you are after, you can manage other investments or projects. On the other hand, you could also just relax on the beach!
You can be more confident it’ll be done right – These people have done it dozens of times before and know how to get it done right. Of course, you will want to check references and get recommendations to ensure you get the most qualified professional.
And very specific to you living in Mexico:
Here, things are done differently! – So you know how to put up joists and hang drywall? Won’t help you a bit in Mexico. Here everything’s poured concrete with iron reinforcement and concrete blocks. Or you’ve done quite a bit of business back home? Different business culture here – very different!
It doesn’t cost much! – The costs to hire professionals in Mexico are very low!
As I said, especially for newcomers to Mexico real estate, you will want to let professionals who know the ropes here do as much as possible. In the end it will save you time, money and headaches.
Tomorrow, we’ll look at the other side of the coin.
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Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at (512) 879-6546.
