Investing in Property with good rental potential

 When you are looking to invest in real estate in Playa del Carmen one of the most important questions you will need to ask yourself is what is your purpose in buying property in Mexico!  This is very important because ultimately it determines the location and type of properties that you will be looking at!  It creates your entire direction when searching for homes.

I want to talk very specifically about searching for properties with good rental potential in Playa del Carmen.  Playa del Carmen is growing and has become a town with great opportunity.  If you are looking for real estate with good rental income in mind then you will need to consider a few things.

Demand for rentals is increasing!

People traveling to Playa del Carmen are becoming much more interested in renting a condo rather than staying in a high end resort!  This is because the general location of Playa offers so much in the way of restaurants, shopping and entertainment that it is almost unnecessary for someone to need to stay in an all-inclusive hotel!  People want to experience Playa for what it is!

In addition, the demand for long term rentals is increasing due to the fact that so many people from all over the world are packing up their life to come live in this trendy beach hot spot! (Read: How to Make Money on Mexico Real Estate – Mexico Rentals for Income)

For someone wanting to invest in Mexico real estate Playa del Carmen is certainly an attractive opportunity!

Your real estate agent is your biggest asset!

The first step you will need to take is to look for a good real estate agent!  Your agent is the expert on the market and will be your greatest tool in your search.   Talk with your agent and express your true intentions for buying property in Mexico.  If having good rental income is important, your agent will know exactly what to start looking for.  For information on finding a good real estate agent in Playa del Carmen click here!

Short term vs. long term rental potential

• Short term rental potential- Someone who is planning to use their property for a portion of the year but would like to rent out the property for the times it will not be occupied
• Long term rental potential- Someone who doesn’t have any desire to personally use the property and would like to gain rental income year round

For short term rental opportunities you will need to focus on tourist locations.  Vacationers will generally want to be as close to the beach as possible.  Also they will want convenient access to restaurants, shops, entertainment and nightlife!  A property like Quadra Alea, which is located in the heart of it all, would be a great option for investment! The better the location, the better the opportunity is for good income.

For longer term rental investments you will want to consider communities and properties that will target locals or full time residents.  This can open up a wider range of selections, outside of downtown, such as Playacar or El Cielo.  In general, choosing a property a little further from the beach, but still allowing convenience of being near grocery stores, banks and normal daily activities will be your best bet!  You are targeting those people who will want to sign a 6-12 month lease!

Finding your dream home can be a great experience as long as you stay organized!  Imagine exactly what it is you want out of your property, and only look at options that will fit your needs and your budget.  Stay close with your agent and have fun in your search!

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Andy Welbourne, from London, Ontario, has been living in Playa del Carmen and working as a part of the team with Thomas Lloyd for 7 years. He has worked with many Canadians and Americans to assist in finding their dream home in the Mexican Caribbean; many of these clients have turned into great friendships. Contact Andy at (512) 879-6546.

The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”