You hear all the time about Mexican nationals coming to San Antonio to shop for clothes, cars and even second homes.

But some foreigners are thinking bigger, and they're shopping for commercial real estate.

San Antonio's stable economy and its friendly culture have made the city a budding place for foreigners — from Mexico and beyond — to look at buying property here.

“San Antonio is probably the most Mexican-friendly city in the country,” said Carlos Fis, who has been investing in San Antonio since 1997 through his group, Sun Belt Investment Partners. “And I think San Antonio has proven to be a very stable, consistent market.”

They aren't focusing on any one type of real estate, either. Fis, who now lives in San Antonio but is from Mexico City, said his partnership has invested in everything from raw land to medical office buildings. It developed townhomes at the Club at Sonterra, built office buildings called Las Plazas in Stone Oak, and is building a CVS pharmacy on a piece of raw land.

“We have such a great relationship with Mexico, so I think that's paying off,” said local developer Marty Wender, who has worked with foreign investors, including Fis. “They feel comfortable here.”

While it's difficult to track numbers in terms of foreign investment, it's a growing amount, local experts say.

“I definitely think they do have an effect on the local market,” said Deborah Bauer, president of Drake Commercial Group. “I must say a large portion of my clientele is from Mexico. I think it's stronger than anyone can really get numbers on.”

Many foreign investors aren't new to real estate ownership, and have parked their money in property in other countries as well. But San Antonio is seen as a safe bet for diversification.

San Antonio's real estate market, though it has slowed, still is fairly stable. And a decline in property values has begun providing some good deals for investors.

“I think there will be some steals in the next few months,” Fis said.

That San Antonio is safer than parts of Mexico also has attracted the investors' attention.

“The only real problem we've had is security based,” Fis said about Mexico. “Mexico City is a great investment city, don't get me wrong.”

While investment from foreigners is not a recent phenomenon, it has increased in popularity in recent years, Wender said.

“They're bringing in substantial amounts of money,” said Todd A. Prins, a local lawyer who represents Fis and clients from such faraway places as the Middle East and India.

“It's not just Mexican nationals, it's people from all over the world,” Wender said.

Though there are some speculators, many of the foreign buyers seem to be in it for several years.

“They are not here to speculate, they're here for the long term,” Fis said. “We are creating a synergy with local developers that help Mexicans feel comfortable bringing their investments here.”

Because many of these are foreign transactions, there can be complications and challenges to the process, such as getting conned into unwise purchases or being charged twice.Investors should look at who they're buying from, for example how long the sellers and their agents have been in the market and their colleagues' banking history.

“You can find out about people fairly quickly,” Prins said.

Not only should foreign investors find smart lawyers, but they should find accountants and people to help with the tariff and tax differences.

Without the proper help, you could find yourself being taxed by two countries, or worse, Prins said.

“There are horror stories of people coming here and investing in property that's not worth anything,” Fis said.

There's also a difference in the culture of investing, Prins said.

“It's relationship based,” he said about working with foreigners. “It's a lot of trips; it's a lot of meetings; it's time consuming.”

But an investment strategy that's too casual and based on the simple handshake can hurt foreign investors as well, Fis said.

“You have to know who represents you in the U.S.,” he said.