Costa Rica

[Sarah Larbi]

Does anyone have any experience investing in Costa Rica? I would like to buy a future retirement home to get away from the cold winters but in the meantime would love to rent it out as a vacation rental. What are the good areas to consider and where would I get the most vacation renters and cash flow?

[Glenn Banks]

Sarah Larbi Coco Beach ?

[Sarah Larbi]

@Glenn Banks ok can you tell me more about it? Where is Costa Rica is it?

[Glenn Banks]

Pacific side, Guanacaste province 

[Chris Paulus]

 I did an investment research trip to Guanacaste, Costa Rica in March of last year. I learned a few things. Do not think you can get a hotel room during Semana Santa (Easter Week) with no notice!   Not all beaches are created equal.   There are very few white sand beaches –  however Flamingo Beach is one of them. English is widely spoken in the Guanacaste region.  Residences and cars are not purchased in individuals names.  Legal entities are set up for this purpose.  Financing can be expensive and difficult to find.   Anti-money-laundering laws are largely to blame.   Generally, homes closer to the water are more expensive.  You could probably rent just about anything in the region. How much profit you make depends largely on your targeted clientele and your property management.  Real estate agents are not highly regulated in Costa Rica as opposed to North America.  Public records are also scarce.  You will need a local attorney to close on a house.   I am on the mailing list for the Keller Williams office in Flamingo Beach. They send me several emails a week on opportunities from Coco Beach in the north to about half hour south of Tamarindo in the south. Good luck. 

[Jennifer Martinez]

Hi Sarah, funny you mentioned Costa Rica, I am a newbie investor, but I am also a Realtor. I have multiple condos listed for sale in Costa Rica. Feel free to contact me if you would like more info.

[Sam Sendgraff]

@Chris Paulus Have you made a purchase in Costa Rica yet? If so can you tell me more about your experience?

@Jennifer Martinez Are the condos still available? Can you send me the info? 

[Windy Stabile]

@Sarah Larbi Hey Sarah, I'm a newbie here a BP but have been watching Central America for awhile now and found International Living magazine to be a great resource. I agree with Chris, above, on pretty much everything except the white sands are on the Caribbean side. It's much more rustic and tropical on that side of the country. You will likely have trouble finding real estate listed online for that coast since it is really pre-development. Most articles I've read recommend taking a trip to get boots on the ground. Check out Puerto Viejo de Talamanca south of Limon. We stayed at a place called Rocking J's which was a trip all in itself.

[Jon Latorre]

Sarah Larbi

Costa Rica is a great place to own a STR! In fact my company Vacasa manages a multitude of properties in the country and we are always looking to expand in this high demand market.

If you are interested I could get you detailed information on where STR's perform best within the country. I can also give projections on how much any particular property might bring in with regards to gross revenue.

Shoot me a message if you please! Would love to chat.

Best,

[Lynne Hart]

H there, I'm a certified international property specialist and while i don't personally specialize n Costa Rica,  have several colleagues who do.   would love to connect you f you're still n the process!!

Lynne

[Account Closed]

@Jennifer Martinez please send me a link to connect with you for property; I'm very interested to see what you have available. Thanks!

[Benjamin Goodpasture]

Hi @Sarah Larbi!  Did you end up buying property in Costa Rica? I’ve been there about 7 times, all over the country. Let me know if you need any recommendations on beaches to invest in. I know about 5 or 6 that would be incredible investments. I’m also looking at buying property there. 

[Paul Sandhu]

U.S. V.I. is where the money is.   2 billion dollars are being spent on the revamp of a refinery.  It supplies fuel to the east coast of the United States.  Inputs come from the middle east. 

[Juan Reyes]

Hello from Costa Rica

We are develop company in San José

Que develop and sale proyects of 8 to 15 houses

Time of each proyect is 10 to 12 moths

We are looking for investors

[Andrew Rhee]

Hi Sarah, I've been investing in Costa Rica for 15 years. I have lived there part-time and raised 2 children there. I now live in Las Vegas but still have a B&B and real estate company down there and go back 5x per year. Happy to help you. 

[Alex Washburn]

Just finished redecorating my condo in CR. My husband and I have a short term rental a block from the beach but while I was there I met a woman who is now contemplating renting from us September - December which is pretty exciting.

I have a lot of enthusiasm for the market and wish other people did too! (Mostly banks)

[Alex Washburn]

@Lynne Hart Herrera I’m interested in hearing more about what a certified international property specialist does! That’s very interesting.

[Axel Louis Bastin]

@Lynne Hart hey Lynne I’m also interested to know what an international property specialist is?

[Cody Harris]

@Alex Washburn I'm looking at getting a STR in Costa Rica. How is yours doing?

[Mike B.]

Funny, I just posted a thread very similar to the OP. Eager to hear if anyone has any more up to date information about Costa Rican REI in general and/or VRBO specifically

[Shiloh Lundahl]

I’m in negotiations to purchase a property in Atenas, Costa Rica. I’m looking to purchase it as a quasi shared ownership with 6 other investors. I’ll let you know how it goes.

[Jon Latorre]

Hi All! I manage a bevy of STR properties in Costa Rica and from a yield perspective, things have definitely started to return to normal as far as revenue generation goes. Last week was one of the best in the history of the portfolio if that tells you anything.

I also have real estate connections in the country if anybody wants to connect.

[Mike Lambert]

@Jon Latorre

What kind of annual rental yields do you get in a non-Covid world? Thanks

[Jon Latorre]

@Mike Lambert That is highly dependent on a multitude of factors like size/luxury class/location/housing type/owner restrictions/etc. But for context, I have some properties grossing $100k+ in gross rental revenue.

[Mike Lambert]

@Jon Latorre

$100k+ sounds nice but it's not the same return whether the property costs $2 million or $5 million.

My question was what is the typical rental yield range? That’s what really matters here.

[Mike Virden]

Jon I am interested in what your yields have been for your properties.