All Forum Posts by: William Robison

We used them years ago.  They have amazing and impressive tools.  Far better for the investor that has wealth and real estate to protect.  Less important for those starting out.  IMHO.  Their resources are VAST.  It can take a lot of time to sift through the resources that they have, but it is probably worth the investment of time if you have quite a bit of investment real estate.  As stated, we used them many years ago, at a time when my company was rockin and rollin, and I didnt have the time to dedicate to everything that they offered. I still see a lot of their videos on YouTube with good advice.  I believe their overall advice is better than 90% of what is out there.

This is an attorney question more than a real estate question.  I would start with a trusted and recommended real estate attorney in Costa Rica to discuss the concept they often use of a Corporation owning real estate in Costa Rica.  Often, these are Costa Rican Corporations, but sometimes, in scenarios such as you have mentioned, the USA based entity may provide piece of mind to the investors in the group, that then buys they CR corp.  Start with an attorney to get more details.

Alain

Through my research, I am finding Costa Rica to be a great opportunity for real estate investing.  Its certainly a different investment cycle than is typical in the US.  There are also changes happening that make the market quite attractive.  I'm making my second research trip in a couple of weeks to narrow down a market and build opportunities for small groups of investors.

Some returns are doing very well, especially compared to similar properties in the USA.  Imagine a $8M house on the beach in Southern California?  Same thing can be bought for $2M in Costa Rica.  Same view.  Amazing property with a pool.  

Several price points, but the luxury market is performing amazingly well.  The short term rentals on luxury are exceeding 60% occupancy in many cases, with gross yield in the 20 percent range.  

Certainly, this same market has condos that are minutes walk to the beach that sell for $250k, rent extremely well, and have occupancy in the 50% range, sometimes better.  But at a modest $250k, its quick to hit very competitive net yields.

Largely this is a function of an inefficient market. Its tough to find an MLS or similar to scour listings. This and other challenges just talk people out of the effort.

Now, add on the changing climate of America cities.  Large cities have populations exiting, permanently.  Moving to places they can work on Zoom.  This influx has many Expat communities witnessing growing demand.  Inventories exist because so many could not travel, but that will change over time.  

I think this winter 2021/2022 will see a boom in international real estate.  This will impact short term rentals and 2nd home markets.

For me, find a deal.  Making yet another trip in a couple of weeks to review opportunity.  Also working on my credentials in Costa Rica.  Should be complete soon.

 Mike Lambert is correct.  There are huge kickbacks with these types of promotions.  In my opinion, International Living is scraping the bottom of the barrel.  They have some interesting articles and some "stats", but most people with experience with them will tell you very quickly that they are a sales machine with little interest in the good for the community.  If you want close insights into them, ask the Expat community that lives in the areas that they discuss (retirement communities abroad).  

If it were good, so many people wouldnt shy from their experiences. You cannot live like a king in Costa Rica for $1000 as they want you to believe. Its this same sales mentality that they use to promote real estate. I would put boots on the ground or find trustworthy boots on the ground at the very minimum before diving into a deal they promote. I'm taking my second trip in two months back to Costa Rica to look at investment opportunities. They dont have an MLS, or Zillow. The best deals, with real analysis, is done in person, or with a partner in the trenches.

Any consideration to going abroad?  Demand is still high, but the challenges to get into the space open yield to  superior investment when well managed.

 Very interesting family story Mauricio.  This would be an interesting project to review and analyze.  Have you made any progress or decisions?  Where is the property located?  There may be far more avenues available for consideration that would provide for your family.

Hello Sara

The discouragement is typical, even from many real estate agents in Costa Rica.  Most of this is due to several inefficient elements in the entire region as a whole.  I am working on a few projects that are structured and ultimately managed through USA and UK management systems.  This greatly improves marketing and management, which are fundamental to the success of an investment in Costa Rica.  

Jaco and Dominical are quite different, even as they are in the same region, kilometers apart.  Have you given this idea more consideration?  Happy to share about our current and future projects.

Hello Parinaz, how was your trip?  Isn't Costa Rica just beautiful?  Hopefully your exploration was as you expected.  I know that the entire country lacks common efficiency expectations in terms of real estate and investment management, but that also provides the opportunities.  Would like to hear your experiences and plans.

Hello Mike.  I am researching a project and doing an extensive property visit next month on a project that yields well over six figure in revenue.  I couldnt agree more though, cost is critical.  This project is $2.5M, with gross revenues well over 10%.  Significant benefits are the marketing and management.  Marketing is through a dedicated tourism team, hence the higher than typical gross.  Management is an experienced USA team.  In Costa Rica, property condition is a constant variable, far more critical to maintain than the USA.  Dependable routine maintenance is a part of this property with a full time team on site at the villa.  This project will likely be acquired as a SPAC, but those details will be determined by the group of investors, if more than one.