The high-energy CNBC "Mad Money" host Jim Cramer took a break last week from pushing stocks to make the case for buying real estate in Mexico. Cramer said he recently bought three properties in San Miguel de Allende, the expat haven in Central Mexico.

"It's not such a bad idea to diversify away from stocks", Cramer said. "Mexico properties have no property taxes, are easy to maintain and there are property managers everywhere," he said.

"I think that out-of-favor real estate in Mexico, that's easily accessible to Americans, represents a great buy," Cramer said.

Cramer said he is only renting one of the houses to pay for the carrying costs of all three. He downplayed the violence and turmoil in Mexico.

"Mexico is a big country and not every province, every state is involved in the drug trade," he said. "And San Miguel has to be one of the nicest places I've ever been."

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