A Mexican Beach Getaway That Pays for Itself

Casey Wilcox and David Lee first traveled to Puerto Vallarta, the popular seaside destination on Mexico’s central Pacific coast, in 2014. And by the end of that 10-day trip, they had picked up quite the souvenir: a two-bedroom ocean-view condo located close to the beach and in the heart of the action in the Zona Romantica neighborhood.

The condo, a corner unit on the sixth floor, is exquisitely decorated and features an expansive terrace with panoramic vistas of the vast Banderas Bay, the surrounding “old town” and the verdant mountains that rise steeply from the water. The perfect spot for morning coffee and sunset happy hour.

The community, which encompasses three buildings, offers amenities like a rooftop pool, lounges and restaurants, spa, and gym. It’s set up like a resort, which has come in handy for Casey and David because, when they’re not enjoying their piece of paradise, they rent it out to vacationers.

The amenities, says Casey, and the prime location in the middle of Puerto Vallarta’s dining and entertainment district—which is also close to the beach—are a huge draw. In fact, with their vacation rental income, the couple is able to cover all their costs of ownership, including HOA fees, taxes, insurance, bills and more. They have around 60% occupancy with paid guests.

All this and they are very hands-off because they are in the rental program—it’s a true lock-and-leave situation. The on-site management company has a front desk for checking in guests. There is also daily maid service.

“If there is a problem with something in the condo, the guests call the front desk—not us,” says Casey. “And people can sit by pool and order a drink and have it charged to the condo to pay at the end of their stay. For renters, it’s like a hotel.”

This hotel-type arrangement also allows the vacation rental condos to be listed on hotel booking sites like Hotels.com and Booking.com, in addition to vacation rental platforms like Airbnb and VRBO.

The rooftop pool in Casey and David’s community in Puerto Vallarta.|©ourpuertovallarta.com

The Dallas-based couple, both 51, have spent increasing amounts of time at their condo in recent years, especially after retiring from their full-time careers. Currently, they aim for about three to five months, which is broken up throughout the year.

“We were down for a month earlier in the season,” says Casey. “And now we’re here for two months.”

Friends and family visit while they’re in town, and they often let them stay at their place while they’re away for free. They also donate their condo once a year to causes they patronize in Dallas, with a week in a condo in Puerto Vallarta being auctioned off and the proceeds going to a nonprofit.

With aging parents and other ties back home, they’re not ready to make a full-time move to PV, as the local expats call it. When in Dallas they stay in their condo there, to which they recently downsized from a larger home. And when they’re not in either place, they’re on the road.

They have a whirlwind three-month trip across Europe planned for later in the year, and then another trip to Asia. Also on tap for David are volunteer trips to Africa. A physician who sold his practice, he still wants to lend his skills to those in need.

After a career in banking and financial technology, Casey is now consulting. That means some travel to meet clients, although post-COVID he’s found that many of his meetings these days are virtual, which means he can be anywhere.

Casey and David’s condo features stunning views over Puerto Vallarta.|©ourpuertovallarta.com

Casey says that every time they go to Puerto Vallarta, where they’ve made many friends over the years, it feels like coming home. Their condo, in particular, is a haven, with its strong community feel.

“We love to relax at the beach. We also like to go to the botanical gardens. We’ll do boat trips with friends to for whale watching or go to more secluded beaches down the coast,” says Casey, who adds that they also love the vibrant restaurant scene. “Although now that we’re coming down for longer periods, we’re cooking more. We’re also starting to branch out and exploring places in the area we usually can’t when we’ve been here for only 10 days or two weeks.”

“We’ve come several times for Pride at the end of May. That’s a fun time. The official end of high season is Memorial Day weekend. That begins the transition to low season. It’s the last hurrah as people decide to go back north before the summer heat.”

Still, one of Casey’s favorite times to be in PV is the summer.

“It’s hot and sultry,” he explains. “But in the summer, it’s the same special city with a lot less people. And the tropical rainstorms are spectacular.”