www.CostaRicaTicas.com

Hello Mikey-B and other real estate investors.

My buddy and I will be down in late January and will spend a few days in Playa Flamingo and Playa Grande as well as the gulch.

My buddy is a new CRT VIP. He has an interest in real estate down there. To help us make the best use of time, do you have any contacts who he can call or email to get some info on the market, and who may show some properties?

Thanks, and we'll see a few of you in a month.

Early Bird

FWIW, when you arrive, there's a gift shop by the food court and they sell a book about real estate investing in Costa Rica. It looks like a "how to" book written by an American. Perhaps give it a look.

Early Bird, I'll be in the Brasilito / Tamarindo / Flamingo Beach area the 1st weekend of Feb (2/3, 2/4, 2/5). Will also be in the gulch before and after that weekend. If you want to hook up for a drink, let me know.

Below are some sites with real estate listings in the areas that you're looking for. This should help give you a start with your search.

www.coastalproperties.co.cr
www.century21costarica.net
www.c21tamarindo.com
www.surfsidepropertiescostarica.com
www.brasilitorealestate.com
www.remax-tresamigos-cr.com
www.flamingobeach.com
www.zurqui.com
www.remax-oceansurf-cr.com
www.acquirecostarica.com
www.propertiesincostarica.com
www.costarica1realestate.com
www.grupomapache.com

This is only scratching the surface. Once you get into town, you should also stop at some of the local real estate offices in those areas. They always have new listings that haven't hit the internet yet.

Don't be in a hurry. Take your time, and do lots of homework. A good attorney is a must. There's good deals to be found, but they're not going to fall into your lap. Talk to the locals. I found a lot of homes (for sale by locals) that were never advertised. Most of the stuff that you see on the internet have inflated prices for gringos. Gather as much info as possible before making any commitments.

Another person to talk to about CR Real Estate is TMan. He can give you a lot of valuable information regarding purchasing a home, a business or land in CR. He has brokered numerous deals all over central and South America. He's a wealth of info. Send him a PM, and I'm sure he'll have more insight for you. Actually, I think he's in Panama or South America this week.

Good Luck,
Mikey B.

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You ALWAYS have an option ....... "NEXT" !!!

Mikey-B and TicaFan,

Thanks for all of that great information

I appreciate the advise also, about not being in a big hurry.."do your homework".

Hey Mikey-B, this probably is a longshot based on your travel dates, but are you in the gulch on our last day, Jan 29th?

Sorry, my friend. I arrive 4 days later on Thurs. (2/2). But I'm in CR every 6 - 8 weeks, so I'm sure we'll hook up in paradise some day.
Happy Holidays,
Mikey-B.

_________________
You ALWAYS have an option ....... "NEXT" !!!

I saw some condo's for 60k on on of the online newspapers link in the
past. should of wrote the website down.
They were two stories and had a pool for every 10 units.
had some hardwood in the interiors. Any one know of this website.
the condos were near the beach on the Pacific coast?

www.grupomapache.com

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You ALWAYS have an option ....... "NEXT" !!!

This group is building lower end condos (and a lot of them) in the Coco/Hermosa area.

If you are looking to live in the unit you are to buy and like the quality probably not a bad investment. If however you intend to rent it and receive a decent return on your investment, I would keep looking.

JMTC

Don't be in a hurry. Take your time, and do lots of homework. A good attorney is a must. There's good deals to be found, but they're not going to fall into your lap. Talk to the locals. I found a lot of homes (for sale by locals) that were never advertised. Most of the stuff that you see on the internet have inflated prices for gringos. Gather as much info as possible before making any commitments.


This is the best advice I've seen given on the internet and very true. The real estate companies are inflating the price of everything down here. Find a good Tico friend you can trust to front for you and have him work the local network. Just had a buddy buy an acre and a quarter for $16,000 just recently. And it is close to the new Marriott being built in Guanacaste. This deal came through his Tica girlfriend. I am looking for some property for some clients and am planning on using a Tica I know to front for us and see what we can do. Not to be crude but I bet a blowjob in the right situation could get you some advantage.

Absolutely NOT true.
I currently own three condo's that I had Grupo Mapache build. They keep all of them rented (almost) full time. The value of the units have already doubled, and I get a very nice monthly rental income from each of the units.

As far as quality, they're solid concrete walls, interior as well as exterior. The roofs are a .032 guage Galv-Alum (metal) roofing system. They are all pre-wired for cable tv, internet access and they have complete A/C systems. They are hooked into city water and sewer. Each sub-division has a huge pool, outdoor jacuzzi, outdoor shower and rancho with common area. They are in a gated area, and have 24 hr security.

Bad return on your investment ???? You couldn't be farther from the truth.....

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You ALWAYS have an option ....... "NEXT" !!!

Hmm. I just looked at their website Mikey-B. Interesting and looks like they have some reasonably priced properties. A little plain maybe, but I'm not fancy. Will definitely bookmark their site for future reference. Thanks.

Mikey-B .... based on your first hand experience I guess I was a bit off base.

I live in the area (actually an hour south) and have visited this development. I was not impressed. Units were small and very simple. It was however very reasonably priced.

As for return on investment I trully do not have first hand knowledge of the Coco/Hermosa area. From what other owners in the development have told me the rental income and occupancy is lower than they expected.

I do however live one hour south of Coco and own a few rental properties . It is my belief that the rental market is moving towards the higher end. I am also of the belief that the road conditions, the immigration delays in the airports, lack of high end accomodations and lack of white sand beaches may keep tourists from returning to the beaches of Costa Rica. So although our properties have doubled in value this may not be the case when and if we decide to sell a few years down the line.

Sure hope I am wrong but unless this government gets its shit together this country is in for a very bumpy ride.

Remember that buying property is easy but selling is the hard part.

Likewise when you die, if the property is in your estate, it is a pain to dispose of thru the legal system of CR. The lawyers and government will get a good share of your estate compared to the English common law system.

Do your research first before investing. Sound familiar?

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PacoLoco: "You pay for it one way or another."
Ace: "Rent everything, do not buy in Costa Rica"

Could say many things here...but for now a quick word of advice on setting up your investment. Have your CR realestate owned by your Panamanian corporation...which then can be held by your Panamanian estate or foundation down the road. If something happens to you or you just want to sell, there is no taxable consequence on the property if you set it up right.

I will be back in CR on Jan 6 and can make some calls to our network on latest deals for any of you real estate shoppers. I definitely wouldnt trust just any Tico to be your 'frontman" though. Sure, there are some realtors selling only high end, highly priced properties...but in our biz...we try to find you the best for your budget in whatever area you want to invest.

No problem Zeeke. As with any investment, YMMV. I was a bit leary at first, to say the least. From the outside, many of the units look similar. Much of your success (in the rental market) depends on the location, and the amenities. But being across the street from the beach, I was hoping for the best.

Since I wanted them to be desirable for tenants, I spent (after completion) another $15,000 for furnishings, i.e., window treatments, bedroom furniture, dressers, mirrors, nice appliances, microwave, linens, flat-screen tv's, lighting, ceiling fans in all rooms, living room/family room/kitchen and patio furniture, pictures/paintings on walls, etc. I set up (both) my 1st and 2nd units to sleep 8 people. The 3rd unit (as soon as they finish building it) will be set up the same.

Granted, many people buy their condo, and then leave it "bare-bones", and expect to have it rented all the time. I was not looking to build condo's for myself to stay in. I did it ONLY for investment purposes. Lately, with the prices of Beach-front or Ocean-view properties on the rise in CR, I am very happy with my decision.
(Location, Location, Location).
But again.....YMMV.

Take care,
Mikey-B.

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You ALWAYS have an option ....... "NEXT" !!!