Rob Kinnon and his wife moved to the Riviera Maya 13 years ago from upstate New York. They have seen Playa del Carmen grow from a sleepy fishing village into what it is today. Rob has extensive real estate experience in the Riviera Maya. He and his wife started Buy Playa to be a representative for and an advocate to buyers, after their first land purchase left them underwhelmed.
During this introductory episode, he answers the most common questions he receives from people looking to buy property in the Riviera Maya.
Q. Is it legal for foreigners to own property in Mexico?
A. Yes, but not in the restricted zones.
Q. What vehicles are available to me in order to purchase property in the Riviera Maya?
A. Many people open a Mexican Corporation which will hold the title to the property. The most popular way for foreigners to own property in the restricted zone is to own in Fideicomiso (akin to a bank trust). There are no additional risks to having a Fideicomiso.
All of the expats in the Riviera Maya were first-time buyers at one point. It can be scary, but not when you have a team of experts on your side.
Send Rob your questions directly and he’ll answer them on a future podcast!
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Email Kay: Askkay@locogringo.com