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A Case study of a real estate investor in Costa Rica

In early 2005, a young entrepreneur from Orlando approached us about finding him a condominium to “test the waters” in Costa Rica as a homeowner. He operates a successful Advertising Agency and maintained business relationships with several businesses located in Costa Rica. Often times he would grow tired of the costs and inconveniences of staying in hotels, and found that even the extended-stay suites made him feel far from home while traveling. He provided us a set of criteria to follow and after two months of looking at various options, he settled into a condominium in Santa Ana that was “close enough to San Jose where I can arrive within 30 minutes during rush hours, but far enough away so I can enjoy rural Costa Rica.”

We worked with a budget of $250,000, and it was made clear that this young man was looking for something he could essentially sell in 2-3 years time for a profit, as he intends on eventually settling down, having a family, and buying a house that can accommodate more than just one person. In the end, we found a community of several new condominiums that were starting at $135,000. Our buyer liked the community so much that he bought two of them that were at different points in the construction phase and we negotiated a deal for $240,000 for both units.

He moved into the first unit one month after closing, and the second unit was completed to his taste for an extra cost, and completed 5 months later. Upon completion, the buyer decided to re-list this property and essentially sold it for $172,000 after only being on the market for two months! After his extra cost to design the second unit, he profited over $30,000! Now, our young entrepreneur has his condominium, worth an estimated $210,000 in the present market, and an extra $30,000 from selling the unit next door, and is looking for a larger home he can “grow into” with the profit. Stories like this are common in Costa Rica if you work with the right people. "I needed a place to stay while in Costa Rica, and not only did EstateRealty help me do that, but they also made sure it was an economic decision and I could not be happier with the result," said our client.

Call us today and tell us your goals, desires, and needs. We will help you get there.


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