Nicaragua is a bit of a gamble, they are "ok" politically but not "great", I would not invest a colon there let alone a single dollar, specially now that one of their politicians is a friend of the maniac from Venezuela
Panama is good, Panama City weather sucks but I have heard that there are areas nearby that have a weather similar to CR (that is , not 100% humid at 90 degrees which is pretty much Panama City)
if you do your homework and if you are not looking for beach front property there are still a lot of good deals in CR
Panama is good, Panama City weather sucks but I have heard that there are areas nearby that have a weather similar to CR (that is , not 100% humid at 90 degrees which is pretty much Panama City)
if you do your homework and if you are not looking for beach front property there are still a lot of good deals in CR
TTinCO said:
I would presume, "yes". Because I am not aware of Panama having a valley. Unlike the West Coast where I grew up in the states, the beach areas were mild with no humidity. In the tropics, it is the opposite, very humid. Being that San Jose is a Valley I would imagine that is why it isn't "too" humid.
BDiz..
TT,
Have a friend opening a project in Playa Bandera. It will be low entry cost, and quick return.
I Just finished one, and made solid dough (out of luck). I had no idea the potential until a friend here in CR got me started. www.condominiocostadelsol.com is the project I bought into. They are houses though, not sure why he put "condominio" in the url.
Costa Rica is still a good value. A bit more than Nicaraqua, but stable. I just came back from Panama. It is about the same $$ as CR, but a bit more cosmopolitan. So, if you like the Country feel, CR is better. If you like the city feel, then Panama would be a better choice.
Have a friend opening a project in Playa Bandera. It will be low entry cost, and quick return.
I Just finished one, and made solid dough (out of luck). I had no idea the potential until a friend here in CR got me started. www.condominiocostadelsol.com is the project I bought into. They are houses though, not sure why he put "condominio" in the url.
Costa Rica is still a good value. A bit more than Nicaraqua, but stable. I just came back from Panama. It is about the same $$ as CR, but a bit more cosmopolitan. So, if you like the Country feel, CR is better. If you like the city feel, then Panama would be a better choice.
If you think that you missed the opportunity in Costa Rica now! In ten years from now you will really be kicking your self. You can't compare Costa Rica to Nicaragua. Look at the history! Of both countries. www.alitercorp.com
TTinCO said:
alitercorpsa said:
True.. but 20 years ago Chile wasn't so stable and now everyone wants to move there too. It all ebbs and flows. I buy real estate like stocks, the EPS (Earning Per Share) of the last report don't mean shit. What does is the time it will take to sustain my investment. Yes CR it a wonderful place to buy and I plan on doing so, but will I pay 200,300,400,500K for a house? Most certainly not. What developers should focus on is the really young and really old. That price range goes from 40K-100K for a NEW home. Otherwise it makes more sense for us to goes to Nicaruagua (More land than CR) or Mexico. I'm sitting on $70K CASH ready to spend on the first part of June (Have a few places I want to check out in new developments) but no good deals out there other than a few in Heredia that I liked. So... I would rather throw my $70K in Stock and make 10-20% than invest in CR because these guys have "green eyes".
BigDane... Granadilla Norte is where I want a place in those hills man!!! I need to talk with your bartender and see if he knows anyone selling up there.
... Aserri is nice too.
BDiz...
Judge,
I got into Real Estate here because of a friend who is a developer. I was lucky on my first go at it. Very lucky.
The real Estate sites here are priced way out of range. Both for rent and sale.
Like you said, if you want to find value, you have to get in with owners and at the onset of a new project when they are trying to create interest and valuation by wholeselling to X% of occupation (Creating supply and demand). Making money, and making good investments takes time and work like anything else.
I was amazed at the amount of Real Estate Info in print thrown at you in Panama. They are pushing real hard to get US citizens there in retirement mode.
I got into Real Estate here because of a friend who is a developer. I was lucky on my first go at it. Very lucky.
The real Estate sites here are priced way out of range. Both for rent and sale.
Like you said, if you want to find value, you have to get in with owners and at the onset of a new project when they are trying to create interest and valuation by wholeselling to X% of occupation (Creating supply and demand). Making money, and making good investments takes time and work like anything else.
I was amazed at the amount of Real Estate Info in print thrown at you in Panama. They are pushing real hard to get US citizens there in retirement mode.
The Scientist said:
Exactly. I totally agree. Not saying that the people won't recoup their investment but the 200-300+ K homes are not worth their sale price. So the investor will need to hold on long-term 20-30 years for them to be of the value they purchased it for. If the buyer plans on living there for life, then it is no bad investment but for a young-gun like me who uncertainty is always at the forefront, then it makes no sense to hook a realtor up with a good commission... why would I? My apartment is $375 in San Pedro with everything included. So why would I tie up my cash on ANYTHING over $70K?
BDiz...
TT,
Do some research on Boquete, Panama. Great climate, still relatively cheap, but going up. Only issue is not the easiest place to get to. Still though there are a lot of advantages to being in Panama over Costa Rica from an investment perspective. Just get a lawyer and pay a few hundred bucks and you can set up some beautiful stuff, if you catch my drift.
If you want something easier, they are building a number of places about 2 hours from Panama City up in the mountains. Its not quite as nice as CR both in infrastructure and weather, but at 3,000 feet the weather is a welcome relief nonetheless.
Nicaragua is just so far from being ready for serious investment. I spent 2 days there, supposedly in the nicest area (Antigua) and it was almost heartbreaking. If that is the best Nicaragua has, you can see why so many go to CR. Nothing wrong with the people and it doesn't feel unsafe, just the level of poverty and the ramshackle construction of everything probably would make you feel quite unsettled. Not to mention the weather there is horrible too, just less humidity. Maybe if you really want to get away from it all and find some fishing village along the Pacific it might work, but remember if you want it as an investment you have to think about what would drive the prices up. With no infrastructure and sure to be grinding poverty for a long time to come, its not something I would get crazy about.
Do some research on Boquete, Panama. Great climate, still relatively cheap, but going up. Only issue is not the easiest place to get to. Still though there are a lot of advantages to being in Panama over Costa Rica from an investment perspective. Just get a lawyer and pay a few hundred bucks and you can set up some beautiful stuff, if you catch my drift.
If you want something easier, they are building a number of places about 2 hours from Panama City up in the mountains. Its not quite as nice as CR both in infrastructure and weather, but at 3,000 feet the weather is a welcome relief nonetheless.
Nicaragua is just so far from being ready for serious investment. I spent 2 days there, supposedly in the nicest area (Antigua) and it was almost heartbreaking. If that is the best Nicaragua has, you can see why so many go to CR. Nothing wrong with the people and it doesn't feel unsafe, just the level of poverty and the ramshackle construction of everything probably would make you feel quite unsettled. Not to mention the weather there is horrible too, just less humidity. Maybe if you really want to get away from it all and find some fishing village along the Pacific it might work, but remember if you want it as an investment you have to think about what would drive the prices up. With no infrastructure and sure to be grinding poverty for a long time to come, its not something I would get crazy about.
A basic real estate fact: A bargain doesn't mean anything if the price doesn't go anywhere. Costa Rica has a well established tourism industry which leads developpers and builders into the country. Nicaragua is 10-15 years from achieving the same point. Is your interest strictly directed to own bricks and morter or do you want to make money by participating on investment projects. Send me an email if that's something you'll be interested on, minimum IRR of 20%.
One thing to remember though. The highest ROI is usually found in the worst conditions. If the land is $1 per meter squared, and then goes to $3 per meter squared, you have won a huge war depending on the # of meters owned of course. This compared to say $75 per square meter going to $85 per square meter. This is of course focused on ROI.
Costa Rican ways
I'll answer coupla questions from different posters at once:
Weather: CR has 'always' advertised itself as having 72 or 78F?( don't remember xactly) weather the 'whole' year round, and it indeed very rarely deviates too much from that in either direction for any signficant period of time. Yes, if you travel around, you can find some extremes from Denver to Panama -type weathers...just like lots of countries-- but where the great majority of the population lives, template weather predominates.
Re political / unstable 'cycles'-- that's an oxymoron in CR, sometimes referred to as the Shangri-La and/or Norway of Central America-- for very good reason. Outrageous in CR simply means an upsurge in purse snatchings or cons/fraud-- that's about it(ok, lately they've attracted a few real bad immigrants, but who hasn't?) . It is the ONLY country in ALL Latin America without guerrilla problems, killings between the established political parties, between the whites & natives(& also native vs native), drug & organized crime cartels, etc. Any other Latin country we pick, no matter how modern,suffers from widespread daily atrocities, not all making the international news.
Just my 2 cents / hope it helps...I don't have allegiance to any other country but the US.
I'll answer coupla questions from different posters at once:
Weather: CR has 'always' advertised itself as having 72 or 78F?( don't remember xactly) weather the 'whole' year round, and it indeed very rarely deviates too much from that in either direction for any signficant period of time. Yes, if you travel around, you can find some extremes from Denver to Panama -type weathers...just like lots of countries-- but where the great majority of the population lives, template weather predominates.
Re political / unstable 'cycles'-- that's an oxymoron in CR, sometimes referred to as the Shangri-La and/or Norway of Central America-- for very good reason. Outrageous in CR simply means an upsurge in purse snatchings or cons/fraud-- that's about it(ok, lately they've attracted a few real bad immigrants, but who hasn't?) . It is the ONLY country in ALL Latin America without guerrilla problems, killings between the established political parties, between the whites & natives(& also native vs native), drug & organized crime cartels, etc. Any other Latin country we pick, no matter how modern,suffers from widespread daily atrocities, not all making the international news.
Just my 2 cents / hope it helps...I don't have allegiance to any other country but the US.
PHREAK said:
So why not rent for $375/monh and gain 20% in stocks, bonds, or commodoties in a secure market (The US is a whole helluva lot more stable market than Costa Rica even with wars, inflation, and debt otherwise Ticos wouldn't ask to be paid in dollars on top of that Costa Rica doesn't have a Bolsa de Valores or Stock Market). Lets face it, the only ones making money are the ones who get out first. Not saying Costa Rica's market is going to flatten but I am sure you and I can go toe to toe in an intellectual debate on investing... I will conceitedly say, I think I will win. Your already biased, evidence put forth via the email address in search to sell real estate.
Money talks bullshit walks
Just my 2 colones
BDizz.
Bdizz,
Just made a ton of dough in less than 4 years in Real Estate here. I have seen it happen, and it will be ripe for awhile. Your deal is good too, but better to have multiple income sources.
Having work, investments, properties, and small positive business ventures keeps you afloat through any of lifes shake ups.
Just made a ton of dough in less than 4 years in Real Estate here. I have seen it happen, and it will be ripe for awhile. Your deal is good too, but better to have multiple income sources.
Having work, investments, properties, and small positive business ventures keeps you afloat through any of lifes shake ups.
The Scientist said:
Bro... I don't doubt you id. And you were smart, you timed it just right.
(Not directed toward you scientist)
But for one of the 10,000 "unlicensed" realtors to say something like "20% IRR"... to me that is just blowing smoke up someone's ass, IRR in what? A house? You show me the figures and I will take that back. You see, one problem is that Costa Rica doesn't document or do censuses nearly as often as the US.
But low and behold, I drive home thi afternoon and this months Fortune magazine in in the mailbox. Pg. 109 paragraph #3, "If you're a speculator, GET OUT. NOW!"... In 2005, Investors accounted for 28% of the housing market."
... With that said, if you think a moderately intelligent 25 year old is going to by a 250K house in Costa Rica you are fooling yourself. Better off selling to the dumb gringos that are retired so they can sit on it for 20 years in order to break even. Look up in an economics book "substitutes" and "compliments". Being that panama has a lower priced market and that they use the dollar as their official currency.
BDiz..
Timing was not it. My friend forced it on me. Happened to have some coin laying around at the time. He sold me two 500 M beachfronts for $25 per square meter below Ranco Monterrey Esterillos with a small down and carried financing. I just paid for them monthly along the way.
As you said. His market is retirees, and they have made him a very wealthy man.
Just what happened to me, and I am on the opposite pole from being a Real Estate Guru. Just lucky this time.
As you said. His market is retirees, and they have made him a very wealthy man.
Just what happened to me, and I am on the opposite pole from being a Real Estate Guru. Just lucky this time.
