As many of you may remember, Rhonda and I were considering buying a property in San Miguel de Rio Cuarto for development…in fact our last alert detailed specific plans to do so.   Please be aware that we have decided NOT to pursue this opportunity as we feel , after much thought, that opportunities are better closer to home.   Thank you to all of you who indicated you wanted to participate.   

As of today we are now evaluating foreclosure opportunities.   We have, in our hands, the agreement  and the actual list of properties available to us from Banco Nacional for purchase.   Obviously now, the real work starts and each property that we recommend will be evaluated and gone over with a the proverbial fine toothed comb.    Findings will be posted and specific ROI and risk factors.   Thanks to Pedro Coto we will be the only company offering such services in Costa Rica. 

We DO have several excellent opportunities available:

1. Our last newsletter detailed an information processoria property available in Aserri with a gorgeous panoramic view of San Jose.   This property is available  with clear title coming within the next week or so and is priced at approximately 1/3 of what other properties nearby are selling for.   Three of us own properties in the same area except that ours do not yet have clear title.    This is a phenomenal buy and we estimate holding time at 2-3 years with huge upside potential.      $30,000

2.  We have a beach property only 20 minutes north of Jaco beach which is priced WAAAAYY below market value.   The house itself needs nothing to be liveable as it is block and steel construction and well taken care of.     Large lot of  approximately 1300 sq. meters or well over a quarter acre and well cared for.  Only 100 or so meters to the pacific ocean.    Owners are forced to sell because they are buying another property .   Please take note: this property can be titled as it meets certain guidelines.   Our attorney ( or yours) can confirm this for you.       Only  $40,000

3.  Two lots are now available in the Bajamar area…each has half an acre…utilities right directly next to the property…one has better views than the other but both are within a ten minute walk of the beach.   These lots have always been in demand and we are fortunate to be able to offer two at the same time:   from $30-$45,000.

4.  Many of you may remember that we have been detailing plans to start selling in neighboring Naranjo.  We have had three of our scouts there for the past three weeks and can verify without a doubt that this area will definitely see a large amount of buying within coming months and years.    There are simply not enough properties available in Grecia to satisfy the demand.   Initial showings to potential buyers verify that we definitely will be marketing much more in this area.  
Our first offering, under priced, is a property of nearly one acre with a view that exceeds anything in Grecia by a long, long way.   It is gently sloping and very buildable …the view is unbelievable …and utilities are right next to the property AND the land is in a great, very picturesque and well kept area.    Only   $33,000.   View properties in Grecia of this size are well over twice this amount IF you can even find them. 

5.  This next offering is one that will offer participation with a group of investors.  It is a property in Grecia ( one of the very last view properties available at a reasonable price ) of 2 ½ manzanas or a little over four acres.   The land is VERY buildable and contains coffee and a large amount of eucalyptus and cypress trees.    It is approximately 100 meters off of a public road and the same distance from utilities.   
Given the scarcity of land in the Grecia area and its demand…we feel that this parcel can be subdivided into three large parcels ( possibly four ) and resold once the road is improved and utilities and pads are installed ( and a small amount of landscaping).   Cost of the property is approximately $100,000 (exact amount to be determined by a survey ).   We estimate the cost of infrastructure ( site prep, water, electric and some landscaping ) at approximately $20,000.
Rhonda and I will supervise the installation of infrastructure and ultimate marketing of the properties when ready.    We estimate a six to nine month holding period and will market the individual properties at $75,000 each…possibly a little higher.   Rhonda and I will retain 30% of the net profits for supervising the work and overseeing eventual sales.   
The math is pretty simple …the project is straightforward…the investors will own the land outright and profits will be paid to the investors first…before Rhonda and I receive any monies.    All accounting will be available at all times.  
Obviously the amount needed will  be approximately $120,000 and will be refined over the next month as the survey is completed.   Minimum investment will be $20,000.   If interested , call our toll free number as our initial San Miguel de Rio Cuarto offering was subscribed to within 24 hours.

These offerings are the best of the best .   If you don’t see anything that strikes your fancy today or have further questions,  call with specifics or just keep reading and waiting. 

Oh, one last note.   My “diatribe” against mechanics in my last newsletter was somewhat mollified when my car broke down last Saturday driving through the mountains from the beach.    Felipe, my mechanic drove to my car ( an hour’s drive ) fixed it, drove it back home while I drove his…did the necessary repairs…and then returned it to my house.   And…he didn’t even want to charge me because parts costs were almost negligible.   That’s the Costa Rica equivalent of AAA.  

Hasta luego
Randy y Rhonda
www.cr-home.com
Toll free: 1-877-247-3014
Office: 011-506-444-00582
Cell:  011-506-841-5782 

Pura vida,
Rhonda and Randy; Steve and Marzena;  Char and Rodrigo, Dolan and Logan; Liffer, Yolanda and their two little ones; ;Johnny, Felix; Albert and of course, Alvaro…the Woodpecker.