Nick Fong, the founder and broker of Baja California Sur’s Ronival Real Estate, loves to share his advice, real estate tips, and inspiration so you can be more successful. So if you’re looking for some inspiration, you’ve come to the right place. Today, Nick reveals whether you actually own land when you purchase a condo.
Since 2010, Nick has grown his brokerage to become the largest and fastest-growing real estate firm in all of Baja California Sur. That means, he really knows what he’s talking about. Therefore, read on to see whether you do own the land when you buy a condo. Then, learn even more tips so you can grow and become successful.
Does condo ownership equal land ownership?
According to Nick, the simple answer is no, you do not own land when you purchase a condo. As he says, when you own a condo, you just own the property itself. To explain, you own the walls, the floor, the roof. Also, you have the CCNR’s, which are the condo bylaws that give you a percentage of ownership based on the number of condos and their sizes within the development. In fact, that percentage is transcribed within the title itself.
How to prevent gambling with your career
In order to follow Nick’s advise, you must stop gambling with your career in real estate. As such, it is time to invest in our career to ensure success. Start by surrounding yourself with winners – those real estate agents that will really make you a better real estate professional.
Like Nick mentions in the video, get a coach and get a mentor. Surround yourself with like-minded real estate professionals that’ll push you in the right direction – real estate agents that will help make you a better real estate professional yourself. Then, listen and learn from the to succeed.
Attain a coach and a mentor to guide you
Being a successful real estate broker after applying himself and learning from those who’ve succeeded, he then officially signed up for coaching. After that, his business really took off like a rocket. Therefore, be sure to get someone who will tell you to do this or to not do that.
When your steps are guided by the right coach and mentor, their insight will help keep you on a successful track. You’ll naturally avoid the mistakes that they had made when you learn from them.
Mexican immigration process REVEALED
Prior to closing on the purchase of real estate in Mexico, it is necessary to present an immigration form to the notary. As Nick mentions in the video, many of Ronival Real Estate’s clients do not have their tourist visa on hand when they show up. As such, he informs them to get their tourist visa ahead of time so they’re well prepared.
Recently, the process for filling out that immigration form has changed. To explain, the latest immigration process is to fill it out online. This is not required for the average tourist coming into Mexico. But if you seek to purchase real estate in Mexico, be sure to go online to fill out the form and have it ready ahead of time.
Work With Ronival Real Estate
Ronival Real Estate has helped thousands of buyers and sellers across Los Cabos since 2010. If you’re interested in Cabo Real Estate, our team can assist with everything from showings and negotiations to closing and property management. Have questions? Contact us here or call +52 (624) 227 5766.