Costa Rica

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Costa Rica

Sarah Larbi
Rental Property Investor · Oakville/ Brantford, Ontario · Member since 2015 · 147 posts · 91 votes
Does anyone have any experience investing in Costa Rica? I would like to buy a future retirement home to get away from the cold winters but in the meantime would love to rent it out as a vacation rental. What are the good areas to consider and where would I get the most vacation renters and cash flow?
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Windy Stabile
Kent, WA · Member since 2017 · 2 posts · 4 votes
9y

@Sarah Larbi Hey Sarah, I'm a newbie here a BP but have been watching Central America for awhile now and found International Living magazine to be a great resource. I agree with Chris, above, on pretty much everything except the white sands are on the Caribbean side. It's much more rustic and tropical on that side of the country. You will likely have trouble finding real estate listed online for that coast since it is really pre-development. Most articles I've read recommend taking a trip to get boots on the ground. Check out Puerto Viejo de Talamanca south of Limon. We stayed at a place called Rocking J's which was a trip all in itself.

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  • Glenn Banks
    Design | Build · Milwaukee, WI · Member since 2014 · 107 posts · 35 votes
    10y
    Sarah Larbi Coco Beach ?
    1Reply
  • Sarah Larbi
    OP
    Rental Property Investor · Oakville/ Brantford, Ontario · Member since 2015 · 147 posts · 91 votes
    10y

    @Glenn Banks ok can you tell me more about it? Where is Costa Rica is it?

    0Reply
  • Glenn Banks
    Design | Build · Milwaukee, WI · Member since 2014 · 107 posts · 35 votes
    10y

    Pacific side, Guanacaste province 

    1Reply
  • Chris Paulus
    Investor · Strongsville, OH · Member since 2012 · 4 posts · 5 votes
    10y

     I did an investment research trip to Guanacaste, Costa Rica in March of last year. I learned a few things. Do not think you can get a hotel room during Semana Santa (Easter Week) with no notice!   Not all beaches are created equal.   There are very few white sand beaches –  however Flamingo Beach is one of them. English is widely spoken in the Guanacaste region.  Residences and cars are not purchased in individuals names.  Legal entities are set up for this purpose.  Financing can be expensive and difficult to find.   Anti-money-laundering laws are largely to blame.   Generally, homes closer to the water are more expensive.  You could probably rent just about anything in the region. How much profit you make depends largely on your targeted clientele and your property management.  Real estate agents are not highly regulated in Costa Rica as opposed to North America.  Public records are also scarce.  You will need a local attorney to close on a house.   I am on the mailing list for the Keller Williams office in Flamingo Beach. They send me several emails a week on opportunities from Coco Beach in the north to about half hour south of Tamarindo in the south. Good luck. 

    4Reply
  • Jennifer Martinez
    Fresno, TX · Member since 2016 · 14 posts · 3 votes
    10y
    Hi Sarah, funny you mentioned Costa Rica, I am a newbie investor, but I am also a Realtor. I have multiple condos listed for sale in Costa Rica. Feel free to contact me if you would like more info.
    1Reply
  • Sam Sendgraff
    Specialist · Tulsa, OK · Member since 2012 · 49 posts · 14 votes
    9y

    @Chris Paulus Have you made a purchase in Costa Rica yet? If so can you tell me more about your experience?

    @Jennifer Martinez Are the condos still available? Can you send me the info? 

    1Reply
  • Windy Stabile
    Kent, WA · Member since 2017 · 2 posts · 4 votes
    9y

    @Sarah Larbi Hey Sarah, I'm a newbie here a BP but have been watching Central America for awhile now and found International Living magazine to be a great resource. I agree with Chris, above, on pretty much everything except the white sands are on the Caribbean side. It's much more rustic and tropical on that side of the country. You will likely have trouble finding real estate listed online for that coast since it is really pre-development. Most articles I've read recommend taking a trip to get boots on the ground. Check out Puerto Viejo de Talamanca south of Limon. We stayed at a place called Rocking J's which was a trip all in itself.

    4Reply
  • Jon Latorre
    Real Estate Broker · Boise, ID · Member since 2017 · 101 posts · 41 votes
    9y
    Sarah Larbi Costa Rica is a great place to own a STR! In fact my company Vacasa manages a multitude of properties in the country and we are always looking to expand in this high demand market. If you are interested I could get you detailed information on where STR's perform best within the country. I can also give projections on how much any particular property might bring in with regards to gross revenue. Shoot me a message if you please! Would love to chat. Best,
    4Reply
  • Lynne HartBusiness Member
    Real Estate Agent · Saint Louis, MO · Member since 2015 · 115 posts · 49 votes
    9y

    H there, I'm a certified international property specialist and while i don't personally specialize n Costa Rica,  have several colleagues who do.   would love to connect you f you're still n the process!!

    Lynne

    InveSTLouis at Real Broker LLC54 Reviews
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    1Reply
  • Account Closed
    Investor · Billings, MT · Member since 2016 · 41 posts · 10 votes
    9y

    @Jennifer Martinez please send me a link to connect with you for property; I'm very interested to see what you have available. Thanks!

    1Reply
  • Benjamin Goodpasture
    Rental Property Investor · Redding, CA · Member since 2018 · 13 posts · 12 votes
    7y

    Hi @Sarah Larbi!  Did you end up buying property in Costa Rica? I’ve been there about 7 times, all over the country. Let me know if you need any recommendations on beaches to invest in. I know about 5 or 6 that would be incredible investments. I’m also looking at buying property there. 

    2Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    7y

    U.S. V.I. is where the money is.   2 billion dollars are being spent on the revamp of a refinery.  It supplies fuel to the east coast of the United States.  Inputs come from the middle east. 

    0Reply
  • Juan Reyes
    Member since 2019 · 4 posts · 0 votes
    7y

    Hello from Costa Rica

    We are develop company in San José

    Que develop and sale proyects of 8 to 15 houses

    Time of each proyect is 10 to 12 moths

    We are looking for investors

    0Reply
  • Andrew Rhee
    Member since 2019 · 4 posts · 2 votes
    7y

    Hi Sarah, I've been investing in Costa Rica for 15 years. I have lived there part-time and raised 2 children there. I now live in Las Vegas but still have a B&B and real estate company down there and go back 5x per year. Happy to help you. 

    2Reply
  • Alex Washburn
    Investor · Chattanooga, TN · Member since 2017 · 55 posts · 28 votes
    7y

    Just finished redecorating my condo in CR. My husband and I have a short term rental a block from the beach but while I was there I met a woman who is now contemplating renting from us September - December which is pretty exciting.

    I have a lot of enthusiasm for the market and wish other people did too! (Mostly banks)

    0Reply
  • Alex Washburn
    Investor · Chattanooga, TN · Member since 2017 · 55 posts · 28 votes
    7y

    @Lynne Hart Herrera I’m interested in hearing more about what a certified international property specialist does! That’s very interesting.

    0Reply
  • Axel Louis Bastin
    Architect · Montreal, QC · Member since 2019 · 19 posts · 8 votes
    6y

    @Lynne Hart hey Lynne I’m also interested to know what an international property specialist is?

    0Reply
  • Cody Harris
    Nampa, ID · Member since 2017 · 67 posts · 24 votes
    5y

    @Alex Washburn I'm looking at getting a STR in Costa Rica. How is yours doing?

    2Reply
  • Mike B.
    Rental Property Investor · Madison, WI · Member since 2020 · 91 posts · 71 votes
    5y

    Funny, I just posted a thread very similar to the OP. Eager to hear if anyone has any more up to date information about Costa Rican REI in general and/or VRBO specifically

    0Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    5y

    I’m in negotiations to purchase a property in Atenas, Costa Rica. I’m looking to purchase it as a quasi shared ownership with 6 other investors. I’ll let you know how it goes.

    480-206-1209Podcast Guest on Show #287
    1Reply
  • Jon Latorre
    Real Estate Broker · Boise, ID · Member since 2017 · 101 posts · 41 votes
    5y

    Hi All! I manage a bevy of STR properties in Costa Rica and from a yield perspective, things have definitely started to return to normal as far as revenue generation goes. Last week was one of the best in the history of the portfolio if that tells you anything.

    I also have real estate connections in the country if anybody wants to connect.

    2Reply
  • Mike LambertPro Member
    Investor · The Americas and Europe · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Jon Latorre

    What kind of annual rental yields do you get in a non-Covid world? Thanks

    0Reply
  • Jon Latorre
    Real Estate Broker · Boise, ID · Member since 2017 · 101 posts · 41 votes
    5y

    @Mike Lambert That is highly dependent on a multitude of factors like size/luxury class/location/housing type/owner restrictions/etc. But for context, I have some properties grossing $100k+ in gross rental revenue.

    0Reply
  • Mike LambertPro Member
    Investor · The Americas and Europe · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Jon Latorre

    $100k+ sounds nice but it's not the same return whether the property costs $2 million or $5 million.

    My question was what is the typical rental yield range? That’s what really matters here.

    2Reply
  • Mike Virden
    Member since 2019 · 17 posts · 8 votes
    5y

    Jon I am interested in what your yields have been for your properties.  

    0Reply
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