All Forum Posts by: Michael Moikeha

@Margaret Grigsby I invite you to keep reading more and getting to know more about real estate so you can begin to control your own life and your future. I'm sorry to hear you are renting from a slum lord. 

Instead of being the victim of people who own properties, start your path to being the owner of properties who can be better to their tenants than your landlords were to you. 

There are many tools and forums on this website that can help you out, and some of those forums are about helping protect landlords, the ones who have to deal with tenant issues, evictions, and may want to be protected from lashback from pesky tenants. 

There is a guy locally who got his house half burned down by a tenant he was evicting. There are always two sides to a coin. 

Im curious about what @Peter Assaad is saying. For some reason that sounds familiar, but I don't remember. 

@Jessica Force I stayed with a friends exs uncle-in-law when I was traveling through Central America. Nice property, definitely more for the tourists who want the experience the laid back culture. Sadly he passed and the home will be going up for sale. I don't have any resources for finding properties though.

The beach up there on the east coast is very Caribbean like. It was beautiful!  

@jon 

@Jon Latorre I would love to pick your brain! Ill PM

@Jessica Force 

The west coast is definitely the popular one, but I am looking on the East Coast closer to Panama. Its beautiful out there and the waters are so perfect!

please add the link to this thread when you do write it up!

A few questions off the top of my

Head. 

- Lending

Private or hard money? 

Any plans to hold it as a Vacation Rental?

Do you market out of country? Is this your first flip out of county? What took your business down to Costa Rica?

What was it like establishing a team out there? Contractors? Realtors? Lenders? Legal? 

Thanks! 

Hello Peeps!

I have an opportunity to lock up a beach property in Costa Rica. I'm trying to pick it up with an owner carry, but regardless, has anyone purchase properties in Costa Rica? 

What is the purchase process? I know in Oregon we have Title and Escrow Companies, in other states purchases are done through attorneys; how are properties bought in Costa Rica?

Does anyone run Vacation Rentals in other countries? I would love some resources or to be able to pick someone's brain who has gone down this route already!

My business partner is divorced. The properties are owned in LLCs. 

From my limited understandIng, half of my 50% ownership in those properties becomes hers in a divorce. I want to make sure that in the event of a divorce, we won't be required to liquidate assets to pay out her shares, essentially trashing our rental properties. 

If he were to get married, I would want to make sure he protected me and our business, so I feel the need to offer him the same. 

Ha ha ha. I like the idea of having attempted murder be covered. It can only be tried once, between years 5 and 7, but after that, there is no attempted murder options.

I get your point, and I agree for the most part, I am planning to marry forever! I would hope that everyone who gets married plans on it being forever. Sadly, that's not really the case. 

I currently own 6 properties with my business partner and that will continue to grow. Is it fair to him for me not to protect his interests from being scrutinized in the event of something going south in the future? 

It would suck for him to get caught up in the middle needing to liquidate all our assets (or enough to pay her out) vs having something agreed upon ahead of time.

It's the same reason why we sign business contracts and have business agreements. I would hope we go into business with people we trust, but still we usually outline how things should go in the event of things going south as it is easier to compromise fairly when everyone is levelheaded, rather than after the fact when emotions are on the line.

Most of what I have seen on Prenups are about marrying someone who has the same goals and if you are already worried about keeping things separate, then maybe you are with the wrong person, but that seems shortsighted. Life happens. 

I have a business partner that I feel obligated to protect even though I know that I am marrying the right woman. She also has her own business as a Professional Photographer and family interests that should be protected as well. 

So I am looking to protect all of us. My business partner, my future wife and myself. 

Im not one of those guys who wants all money to be split and only having personal bank accounts, but I am a planner and know that there are best practices in business because some things happen outside of your control.

Can I get some advise from people out there? 

It's not a paranoia Jay Hinrichs . It's more preemptive planning like writing up a Will or making sure someone knows where I am going when I head out rock climbing or hiking. I'm not planning to die, but in the case something unfortunate happens, I like to know things are in order. It's the same here. I'm not paranoid, but I would like to be prepared in the event something does go wrong with or property, it can't effect any of the other properties. And I prefer to learn lessons and take steps before things go bad rather than after.