From Charleston to Sayulita.
George Reavis spent 25 years as a real estate developer in Charleston, South Carolina, before making Sayulita home nine years ago.
When he started planning a build there in late 2020, the peso was around 22 to the dollar, and he budgeted at 21 to be safe. By the time construction was nearly finished in April 2024, it had moved to 16.32, and the project cost more than $150,000 extra.
The frustrating part was that the solution already existed. Corporations have used forward contracts to lock exchange rates for decades, but banks rarely offered them to individuals. George found licensed currency partners willing to offer the same kind of rate lock to individual buyers and to people building homes in Mexico, and in September 2023 he founded MexEdge.
Today he still works with every client personally, from the first conversation to the final payment.