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Saturday
Oct162010

October 2010 Newsletter

Hello from Sunny Acapulco,

It is October and we are right at that point where most of the Mexican tourists are all back to school and work yet many of the American, Canadian and European snowbirds have yet to arrive.

In other words, it's quiet, real quiet.  There are really only two months like this in Acapulco - June and October.  Every other month of the year is quite busy.  Although business has been brisk here as two of our units were sold this month including one that I just returned from with the client and new homeowner here at the AcaCondos building.

But before I detail more on which condos have sold and what we have left, let's talk about a few other topics.

Expatriation Write-up

I am a bit of an entrepreneur.  A quick Google search will show you a lot of what I have been up to in my life.

But of all the things I do, there is one that I have a true passion for.  I have been and am very involved in the financial markets and believe in freedom - which is why I am in Mexico, because it is one of the "free-er" countries in the world.

As such, I write a financial newsletter called The Dollar Vigilante which covers topics such as investing in gold & silver for asset protection and about how to expatriate yourself and your assets to protect yourself from voracious governments and to declare personal independence.

I recently wrote a Special Report on expatriating to Mexico for our paid newsletter (the cost is $25/month or $300/year) but I am offering you access to it for free, here:

http://www.dollarvigilante.com/tdvmexicospecialreport

I go into far greater detail in this report as per items like cost of living in Mexico as well as the prospects for Mexico in the future.

New Wastewater Treatment Plant for Acapulco

Acapulco continues to make strides to upgrade and improve this 500 year old city with modern amenities.  Recently the Mexican President was in Acapulco to inaugurate a new $25 million USD wastewater treatment plant.  You can read more about it here:

http://www.presidencia.gob.mx/en/search/?contenido=59531&pagina=1&palabras=investment

Acapulco was known for letting some of its infrastructure fade in the 80s and 90s and lost a lot of foreign tourist business because of it.  But great strides have been made in the last decade and it is my opinion that Acapulco is on the verge of a rebirth in which it will regain the status it held from the 1950s through to the 1970s.

Real estate prices are still incredibly cheap here when compared to places like Cancun and Cabo but that won't stay that way for long once the world re-discovers Acapulco.

Units Sold & Units Remaining

It was a quiet month in terms of tourist traffic but not in terms of interested buyers.  The double-size unit #2907S sold a few weeks ago and just as I write this today #1510 in the North Tower sold.

That means we currently only have 2 units for sale.  Studio unit #2503S is still available for $65,000 USD.  It won't be available for long - it has one of the best views in all of Acapulco.

And we still have available one two-bedroom penthouse unit, #3006 in the North Tower for $115,000 USD "as is" or for $149,000 USD with full renovation package which will make it eligible for rent in our boutique hotel, Las Torres Gemelas Private Suites (http://LTGPS.com).

We may have an already renovated studio suite coming up for sale in the coming weeks.  It already is part of our boutique hotel and already has good rental income and bookings - so it is excellent as an investment property (which you can also use as you wish, as well).  It is a beautiful studio suite and will likely be priced in the $70,000s.

In fact, once suite #2503S sells I doubt we will have any suites available under $70,000 anymore because of the increase in demand and increase in prices in general here in Acapulco.

My personal opinion is that these suites should be valued around $100,000 anyway so it is a real bargain to get them for anything less than that.

Stay With Us to Try Before You Buy

As I always say when I sign off, if you are interested in buying any of our remaining suites let us know.  If you'd like to come down and try staying in our suites before you buy we offer discounts.  Just email us at sales@acacondos.com and we'll let you know what we can do.

But, again, we suggest you book early because almost all of our suites are nearly full from November through to March right now.  Our hotel brand has become very popular and we have limited availability in the winter months.

Until then, I'm heading down to do some Yoga at the pool.

We'll look forward to seeing you down here!

Cheers,

Jeff Berwick

Manager