The first house in Mexico is officially on the market. We have a lot of interest to both purchase the house or rent apartments in it (of which there are now six). One party wants to rent the whole thing. We have another house identified just a few blocks away that we would like to purchase and remodel if we can sell the first one in time.
We have learned much about how to go about this. The key to all of it, of course, is sufficient capital to keep the builders working at a reasonable pace, but there are a lot of other things, too. How to buy a house suitable for a project like this requires knowledge of the neighborhood. What seems like a good deal, might not really be that good if there is insufficient parking, drainage problems, recalcitrant neighbors, or some other defect. It is not like buying a house in the US.
We are excited about moving forward to the next project. It all depends on selling the first project first. If things come together and we get the house we want, we will almost certainly just tear the thing down and start from scratch. Location and price are what makes it an attractive property for us, not the current structure. If we do not get that one, there are other options.
