IL Postcard

Dying to Learn More About Mexico? Visit Us in Late October

Date: 10/11/2006

I have two very important pieces of news for you. One is that we have a very special guest who

will be joining us at our upcoming Live and Prosper in Mexico Seminar at the end of this month. Tom Phelan is an expert at using IRA funds to purchase foreign real estate. He is on board to walk us through the process (and more) when we convene in San Miguel de Allende.

Thomas Phelan writes about finances, he is an active real estate investor, and has assisted investors in setting up Self-Directed IRAs and tax-deferred real estate sales through 1031 Like-Kind Exchanges.

We're very excited that Tom will participate in our seminar…IRA purchases and like-kind exchanges are topics we often get questions about, and it is nice to have someone with his expertise on hand to give advice. Tom is a lawyer and has held a Series 7 Stock Broker's License and various Insurance Licenses and Real Estate Licenses in California and New York. He is a Certified 1031 Exchange Specialist and has conducted 1031 Exchange Classes for many prestigious national real estate firms including Coldwell Banker, Re/Max, Century 21, Prudential and ERA.

The other big news is that on October 5, the National Association of Realtors® of the U.S. formally signed its first joint reciprocal membership agreement with a foreign real estate organization. Where else but Mexico? The deal was struck with the Asociacion Mexicana de Profesionales Inmobiliarios (AMPI) at AMPI's 50th anniversary meeting in Mexico City.
This means that all of Mexico's AMPI members will become certified NAR Realtors© in January. Why have the NAR and AMPI joined forces? To create new business opportunities for both sides, and to help promote the standardization of international real estate practices, officials say. AMPI was selected by NAR because its members adhere to a strict Code of Ethics like that of NAR.

Obviously, it is getting easier and easier…and even more risk-free to buy real estate in Mexico. According to the press release from the NAR, a growing number of United States citizens opt to acquire second and retirement homes in Mexico and residents of Mexico are buying property in the United States more frequently. Mexico is attractive to second home buyers from the United States, thanks to the availability of properties near the ocean and mountains, reasonable costs of resort properties, and lifestyle considerations. Thanks to a favorable legal and financial infrastructure, Mexico is the Number 1 foreign destination for retirees from the United States, with over 1 million U.S. citizens living there.

But we already knew that, of course.
I hope you will join Tom Phelan and me - and a host of expats and other experts who will speak about Mexican real estate, legal, and health issues - at our Live and Prosper in Mexico Seminar.It starts October 29, so sign up soon.

Best Regards,

Marzena Romanowicz
International Living, Mexico
E-mail: Mexico@InternationalLiving.com.

P.S. The seminar is being held October 29-31 at the Hotel Real de Minas in San Miguel. Our International Living events coordinators have negotiated a special rate there of just $70 per night. (And remember, there are many ways to get to San Miguel de Allende. You can fly into airports at Léon - airport code BJX; Querétaro - airport code QRO; or Mexico City - airport code MEX). Read more.