Casey Stamps

Consider Costa Rica real estate Top10 Buys!

We here at BuyingCR would like to provide our clients and friends with the most updated information on near foreclosure sales and severely discounted farms etc. During these tough times throughout USA and European real estate markets it has provided us with foreign sellers that are distressed and selling at major discounts. Many have been sold over the last 60 days but many are still available. Here are a few examples of great deals to buy now to develop or resale 24-36 months from now for a hefty profit.

1) The first option here is a simple buy and flip option. The developers have to make some additional activity in the slow 2009 season so they have a few sites at majorly discounted prices. The infrastructure is completed and the titles are clean and clear. 1 site is 3.2 acres, amazing ocean views with a large building site fire selling at $65,000. And another site with a amazing ocean views and 4 acres at $75,000 including river frontage and virgin forest. These are home sites to buy cheap now and flip 36 months from now for double.

http://www.buyingcr.com/listing-3-acres-with-amazing-ocean-view-114.html

2) Finca Lagarto Guanacaste is one right at the top of my list right now. The size is 44 Hectares (110 acres) and the farm sits exactly ½ mile from the beach with a altitude of 100-150 feet above sea level so views down the coast and sunsets are spectacular. The property has 800 meters of Public road frontage so segregations and Condo law are very easy. The farm sits just off the main paved highway from Tamarindo to Santa Cruz city, and the highway to the international airport 60 minutes by car. The new Barcelo Resort (Spanish hotel chain) to open in 2011 just 7 miles south of this farm in Playa Azul and the new JW Marriot is open and running just 10 miles north in Hacienda Pinilla. If feel that the location could not be better for a strong investment. The farm includes a topographical study every 3 feet, a permit to drill a well for the project and the water association on the mother farm to piggy back on and get all permits. Seller is distressed and is near losing his permits on the mother farm (1,300 + acres) next door. He needs cash to start roads and electric on the Phase 1 and 2 of his farm next door. He has dropped the price to $1,320,000 and it is a steal. I think if we can get a all cash deal together he will do even lower! This farm will sell fast at this price.

Options to develop this farm:

Initial investment in the first 12 months:

a) Buy property, Drill water Well or wells, Get concession on Well started and Asada approval, Take Topographical study to a preliminary master plan stage, Cut and gravel internal main roads and clean property thoroughly, Study best building sites and soil studies. At this stage we are 12- 14 months into the investment and can now either sell for 100% gain and or hold for additional time to gain a 200% return (this could take 36-60 months to gain 200% on holding).

b) At the stage of 12 months investors will need to make the decision weather prepare to sell for double, hold for more by land banking or develop the farm into condo law. On a farm of this size with easy rolling hills any # of condos could be done but being very conservative at 85 Units the net profit can be over $20,000,000 if built and sold over a 3-5 year period. At this point the best option is build in phases to keep construction cost down and also keep risk down by building no more than 30 units at a time or so. To get the preliminary master plan approved for build out takes 12 months so the investors would now be 24 months into the investment and ready for approval to start building phase 1. That is where we get into construction costs etc if investors decide to develop.

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