www.CostaRicaTicas.com :: View topic - Regularly Sceduled Stupid Question?

If you are "getting a group of guys together" to rent or buy a place,don't even consider buying. The downside of joint ownership'especially in a third world country isn' worth the effort. rHowever,renting is a doable option only if you do it with a small group (2-4 like minded friends) with similar plans as to dependability and time spent in country. A two-bedroom place,for example, runs into problems when all 4 guys want to be here for Super Bowl. I would also recommend that you have each guy put enough money into a joint escrow account to insure that the other three guys get tired of CR and bail out leaving the guy with the lease on the hook. (however breaking a lease is a piece of cake here).

If you get the right small group,and find the right place,it could be a great idea. You don't have to worry about dress codes and the other related problems of hotels in SJ. You can also make your appartment a fun place to bring chicas. (like my house). You can have a woman coming in a few times a week to clean,and your costs would be less than a hotel,and more fun to live in,especially if you are here for extended stays. Do not open it up for all CRT members since we are a very diverse group and it's not woth the income to find your place mistreated while you are in the States.

Author:	Smelvis [ Tue Mar 04, 2008 2:51 am ]
Post subject:	Regularly Sceduled Stupid Question?
Would it be worth the head aches to get a group of guy's together to either rent or buy a place in SJ. I'm sure this has been debated. pros and cons please. I have searched, either I'm a idiot or the search function is not my freind.

Author:	Icantstayaway [ Tue Mar 04, 2008 3:02 am ]
Post subject:
Not a bad idea to Rent a place. I would strongly recommend not buying until you have rented for 2 years.

Author:	El Silencioso [ Tue Mar 04, 2008 3:12 am ]
Post subject:
Good advise above.... There are several threads about buying vs renting on this site, but you definitely shoud acclimate yourself to the country and learn a lot before you consider buying here. Hve traveled to CR on 18 ocassions now over the last 3 years and still am not considering buying. I am considering renting a vacaton place for 3 months over this summer and plan to spend a lot of time walking around areas I would consider living prior to making a commitment. I would recommend speaking with or PMing Vegas Bob, Irish Drifter or BangBang57. All are CRT VIP members living in country with great advise for members such as yourself. Here is some info from Mucho Gusto with some do and donts of buying real estate in CR https://costaricaticas.com/phpBB2/viewto ... ng++buying More good info in this thread https://costaricaticas.com/phpBB2/viewto ... ing+buying

Author:	VegasBob [ Tue Mar 04, 2008 10:14 am ]
Post subject:
If you are "getting a group of guys together" to rent or buy a place,don't even consider buying. The downside of joint ownership'especially in a third world country isn' worth the effort. rHowever,renting is a doable option only if you do it with a small group (2-4 like minded friends) with similar plans as to dependability and time spent in country. A two-bedroom place,for example, runs into problems when all 4 guys want to be here for Super Bowl. I would also recommend that you have each guy put enough money into a joint escrow account to insure that the other three guys get tired of CR and bail out leaving the guy with the lease on the hook. (however breaking a lease is a piece of cake here). If you get the right small group,and find the right place,it could be a great idea. You don't have to worry about dress codes and the other related problems of hotels in SJ. You can also make your appartment a fun place to bring chicas. (like my house). You can have a woman coming in a few times a week to clean,and your costs would be less than a hotel,and more fun to live in,especially if you are here for extended stays. Do not open it up for all CRT members since we are a very diverse group and it's not woth the income to find your place mistreated while you are in the States.

Author:	MrLasVegas [ Tue Mar 04, 2008 7:36 pm ]
Post subject:
I looked into this as well. The debt liability is an issue, but you can form a corporation in the US that can manage the property, debt payments, etc. My attorney in Vegas has represented groups of guys buying properties in Costa Rica, Thailand, Cambodia, and Colombia as well (wonder what thier hobby was?) The trick is the debt responsibilities lie under the authority of the corporation, then the corporation forms a trust for the operation of the property in the country of choice. If you can negotiate a good price, there could be advantages.Finding reliable partners is the issue.

www.CostaRicaTicas.com https://forum.costaricaticas.com/

Regularly Sceduled Stupid Question? https://forum.costaricaticas.com/viewtopic.php?f=1&t=22162	Page 1 of 1

Author:	BangBang57 [ Wed Mar 05, 2008 2:45 am ]
Post subject:
The advice by VB and El S is very good advice. Not much I can add. I have a friend that is hear for a week or so every month. He has rented a 1 bedroom place very close in and it works great for him. Just be sure in renting that having chicas/partying hardy will not be a problem as many places are owned by individuals who many time do not like having a bunch of gringos plucking their young Ticas and making noise. Know of several who have had this problem. That said it is not hard to find a 2 bedroom furnished place for $350 and up range depending on you luxury needs. 450-500 will get you a nice place in places like San Pedro which is very close to the action in the gulch. Escazu will run you more and is futher from the gulch. Also there are places downtown that in some areas are not too bad. There are a few places south of the REY where several guys stay and there are quite a few good MPs in that area. Definantly do not buy especially right now; the housing market problems in the USA are beginning to hit here also. The market here has been artifically inflated for quite some time. And it take some time to get to know Costa Rica and where is best to live for your individual life style.

Author:	MrLasVegas [ Wed Mar 05, 2008 6:08 am ]
Post subject:
You are right about the price dropping, Bang Bang. I had a few drinks with some tica real estate agents at Fandango's in November. They said by thier own predictions they are guessing a 30-40% drop in CR real estate value. They were with my old company Century 21. But they do believe, and quite correctly, that CR will get hit and rebound much quicker than the major US markets do. Based on the initial client base, I would agree.

Author:	Smelvis [ Wed Mar 05, 2008 8:04 pm ]
Post subject:
Vegas Bob wrote: If you are "getting a group of guys together" to rent or buy a place,don't even consider buying. The downside of joint ownership'especially in a third world country isn' worth the effort. rHowever,renting is a doable option only if you do it with a small group (2-4 like minded friends) with similar plans as to dependability and time spent in country. A two-bedroom place,for example, runs into problems when all 4 guys want to be here for Super Bowl. I would also recommend that you have each guy put enough money into a joint escrow account to insure that the other three guys get tired of CR and bail out leaving the guy with the lease on the hook. (however breaking a lease is a piece of cake here). If you get the right small group,and find the right place,it could be a great idea. You don't have to worry about dress codes and the other related problems of hotels in SJ. You can also make your appartment a fun place to bring chicas. (like my house). You can have a woman coming in a few times a week to clean,and your costs would be less than a hotel,and more fun to live in,especially if you are here for extended stays. Do not open it up for all CRT members since we are a very diverse group and it's not woth the income to find your place mistreated while you are in the States. Thanks Everyone Vegas Bob is closest to what I was thinking, It wouldn't take to many guy's before it became cheaper than hotels even if we only make 2-4 trips a year. It would also simplify scheduling especially when places like the SL requires months in advance to get your dates and rooms you want. In my case I need to schedule far in advance but every once in a while an opportunity to make a spur of the moment trip all be it a shorter one may pop up. Another problem for me and my wingmen is we want to explore other countries like Thailand ect.. this may put a damper on it. Do you think the place would be safe left alone for longer periods of time if it was a security building. Gracias

Author:	El Ciego [ Thu Mar 06, 2008 12:46 am ]
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I wonder if the costs outweigh the benefits, , especially if you're only going to use it occasionally. Using B.B.57's example of a $500.00/month rental in San Pedro ($6000.00 year) for four guys, that's only $1500.00 per guy, per year plus utilities. If you are in C.R. more than 30 days each year, it sounds like a good deal. On the other hand, if you can only spend 15 days each year in C.R., hotels are a better deal (maid service, often food and beverage, sometimes chicas on site). I'd be sure you know how much time you'll actually be spending in-country. Remember also that you'll be spending money on utilities, furnishings, maid service...and taxi fares if you're away from mongering hot spots. Suddenly that $500.00/month commitment is up to maybe $850.00. A couple CRT'ers are currently renting in S. Pedro, and have had landlord problems b/c of the late-night parties and orgasmic noises. Advice on carefully selecting a place amenable to our hobby is good advice. I've often thought about renting a bolt hole (a place to "bolt" to...) For the amount of time I can actually spend in C.R., it just isn't worth it.

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