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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.
Check out the guide to buying
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