For some it’s a divorce or a financial crisis that sets you back. It may be that you have a longing for something different. For Dede Fulk, it was all three. After her Belize trip in 2010 she made up her mind that she would someday own a piece of paradise near the turquoise Caribbean waters.
Dede was a real estate agent and investor in Arizona with multiple rental properties, although being a landlord left her stomach retching when she had to deal with them. “Like clockwork I had to evict renters or clean up their mess and get ready for the next catastrophe.”
That’s when she started educating herself on the benefits of short term rentals, vacation properties in tropical climates. She immersed herself in International Living Magazine. “I’d flip through the pages and dream about the top destinations in that magazine. Jungles, cenotes you can swim in, ancient archaeological sites, boutique shopping, dining, and the Mesoamerican Reef with vibrant colored fish darting in and out of the coral…and oh those soft sand beaches. I did a lot of daydreaming.”
Her years of research and sacrifice led her to the beaches of Playa del Carmen just south of Cancun. Four hours away and a direct flight from her hometown in Phoenix, Arizona. “It was the perfect escape for a laidback lifestyle, and it wasn’t too far away.”
Through her network Dede discovered SIMCA Real Estate. A developer that’s been around for over 15+ years and endured global crisis and finished over 30 projects. She never knew though how SIMCA would change her life.
She made the call to discuss pre-construction projects and qualified for a visit to paradise. As SIMCA calls it, she made the journey for a Chill Out Weekend.
The Chill Out Weekend
Less than a month later, the airplane wheels touched down on the tarmac in Cancun and private transportation whisked her and her boyfriend, Keith, to an all-inclusive hotel. Within hours they were sipping frozen margaritas, dipping their toes in the sand, and eating fresh ceviche.
All this was part of the 3 night and 4 day Chill Out Weekend included with a small fee.
The Chill Out Weekend would give her the chance to view SIMCA properties, ones for immediate delivery or the pre-construction sites. She could meet with the team, and ask as many questions as she wanted. “It’s scary when you’ve never invested in global real estate. My friends back home thought I was nuts to purchase a property in Mexico. They didn’t understand that you really can own property through a Mexican Bank Trust known as a Fideicomiso… and it’s not a lease or a timeshare. We got to experience the Playa del Carmen lifestyle on that trip.”
The connections and relationships SIMCA provides make it a very simple process to buy a condo in Mexico. “One of my concerns was, who was I going to depend upon to oversee my property when I wasn’t in town? When I met Happy Address Property Management, they put my mind at ease.” Happy Address takes care of everything from cleaning to maintaining to providing the best experience for your renters.
Maximum Returns on Investment
Dede wanted to rent out her condo on multiple platforms for maximum return on investment. “When I learned about annual rental incomes of $41,000 up to $57,000 gross a year, I realized this was my answer to my lost retirement funds. We could enjoy Playa del Carmen’s bustling Fifth Avenue with all the delectable food choices and chic shops, find secluded beaches, and visit whenever we wanted to.”
She could trade in long-term rentals among the saguaro and prickly pear cactus for the jungles and pristine white sand beaches where tourists flock for vacations.
“I believe it’s going to provide a steady passive retirement income as well as capital appreciation over time. With the volatility of the stock market, I knew I needed something more stable where I could leverage my money. The hot tourism towns along the Riviera Maya coast draw Canadians, Americans, and Europeans all throughout the year. Occupancy rates hover around 90%. Obviously with the pandemic, things have changed, but purchasing in the 6th most visited country in the world has its benefits for investment strategies.”
Expedia even says that since tourism started opening up, Mexico is on the top of the list for people to visit. Mexico attracts remote workers looking to escape for a few weeks or even longer. There’s definitely a shortage of rentals in the area.
Dreams Do Come True
“One of the hardest parts about this adventure is waiting for the keys to our condo and some of the sacrifices for this dream to come true. But finally, the time is here. Keith, now my husband, has been by my side during my journey of owning global real estate. We are finally traveling to Playa del Carmen for the delivery of our condo and are excited to find local furniture and start making a return on our investment.”
Stay tuned for an upcoming article about Dede’s experience walking through the doors of their new condo and getting it ready to rent out.
Even if you’ve had a financial setback, or relationship challenges, owning a property in a top tourist destination can put you back on track for your best retirement yet.
Where would you love a second home?
Schedule your discovery call to see how SIMCA can help you.