In my view, low tide is the best time to spend at the beach in Tamarindo. The waves break pretty far out, which leaves lots of room to enjoy relatively calm water closer to shore, and provides plenty of sand for walking around and collecting seashells. It also exposes many large rocks, as seen above, which are completely hidden at high tide. The beach at Tamarindo is always spectacular. Even though it can be very crowded by Costa Rican standards, it is far less crowded than the beaches I'm used to visiting in the USA. In the lower seasons, the [...]
*** UPDATE *** A helpful reader points out that it is actually illegal to take seashells from the beaches in Costa Rica, and to take them out of the country. We still believe it is a fun activity to look for shells on the beach and take photos, but agree they should be left at the beach when you are done. They provide habitat for little creatures like hermit crabs, and also, believe it or not, those shells will eventually be broken down in nature. This Tico Times article indicates that over 5 TONS of shells were confiscated at the [...]
Over the years, we've researched and purchased properties on our own, and we've also used turnkey real estate companies to locate, renovate and manage for us. Turnkey properties come with their own benefits, namely cash flow and easy to buy, but they are not completely turn-key.
If you look closely at the image above our window in New York City, you'll see a bit of snow on the ground, and snowflakes in the foreground of the building across from us. You can't see it, but we can also hear the wind howl. It is March 2, and March is definitely coming in like a lion! A nor'easter forecasted to be fierce and destructive is currently affecting all of the northeastern United States. While the rain and snow is supposed to end today (Friday) it is still forecasted to be very windy Saturday and Sunday. The silver [...]
There is a long-running debate about whether to buy real estate to receive cash flow or to profit from price appreciation, with passionate supporters on both sides. When we started our real estate investment journey in 2005, I was firmly on Team Cash Flow. When you buy for cash flow, you start collecting money immediately. With appreciation, you only benefit when you sell or otherwise pull out the equity (e.g., a cash-out refinance);
If you are interested in real estate, but don't know where to start and don't have network of real estate professionals to lean on, don’t worry – we didn’t either when we started.
The most important thing we did to start was to let other people know that we were looking to buy.
We didn't really know where we wanted to buy our first property when we started looking in 2001, but since it would be a weekend home, it needed to be reasonably close to New York City.
Before our first trip to Costa Rica in March 2017, we had checked out the Philippines two months earlier. Scott, our oldest daughter and I took a 2-week trip to Manila in January 2017 – their first trip and my fourth, although my previous trip was 25 years ago, so it felt like my first time too.
I was already primed to possibly live there because the favorable exchange rate (currently over 50 Philippine pesos to one US dollar) meant that we could drop everything and retire -- no job required -- right now.
In our first trip to Costa Rica, we split our week between Tamarindo (the “Gold Coast”) and Ojochal (the “Southern Zone”). These were two areas we had read about, and we wanted to compare them back-to-back.
We opted to start our Costa Rica journey with a small condo in the heart of the Gold Coast, walkable to everything. It suits our needs for a hassle-free, income-producing, and driverless vacation property. Now that we have two Gold Coast properties in our portfolio, maybe we’ll reconsider the Southern Zone. I’m afraid to look at where prices have gone even in just one year.
On our first trip to Costa Rica, while driving around the different beaches in the Guanacaste area, we stumbled on an Open House sign for a development near Playa Flamingo. We saw multiple lots, where we could develop a property, and we also saw an already built spec home we could have immediately.
It was 1,950 square feet, with 3 bedrooms and 2 baths. It had a garage and infinity pool, with a view of the ocean in the distance. It was listed at $399,000.
We ended up passing on the home, and here’s what factored into that decision.
When we decided to buy real estate abroad, one of the critical steps was figuring out where we would get the money to buy. Since we had settled on desirable Tamarindo, we knew that properties would sell relatively quickly so we would have to decide quickly and be able to close quickly (or at least show we could close quickly).
Here are eight options we considered for financing our international purchases.
