Costa Rica

[Aqeel Salim]

Hi all! My wife and I have been working on slowly expanding our vacation rental business and are currently considering the Manuel Antonio area of Costa Rica as our next area of interest. Does anyone know Real Estate agents that they would recommend in the area? Property Mangers? We live in the Austin area and would also appreciate any recommendations for lawyers that are familiar with Foreign Real Estate law. Does anyone have any Do's and Don'ts when it comes to investing in a foreign country? Thanks for your help in advance!

[Aqeel Salim]

Hey Kay,

Our family did purchase the property in Costa Rica. We bought in a development called The Hills of Portalon which is located just south of Queopos and north of Dominical on the pacific coast. We have had a lot of success but running a vacation rental is a totally different ball game there than it is in the states. You need to have great contacts for repairs/chef services/transportation and a concierge that can coordinate for your guests unless you plan on living on or close to the property full time so that you can provide those services yourself. Your concierge can make or break the success of your rental. I highly recommend spending an extended vacation in the area that your are considering purchasing and making those contacts prior to signing and contracts for a property. I would also recommend spending some time after purchasing the property to get it set up and establish the systems that you will need to run the property efficiently and successfully. We were fortunate enough that my in laws were able to spend two months there after the property was purchased to get it set up. We used http://costaricarealestateservice.com/ to find the property we purchased. Figuring out the area you want to purchase is the most important step, obviously. Please let me know if you have any more questions. Pura Vida!

Aqeel