We made our second investment in Costa Rica for a variety of reasons. Casa Salita is a 4-bed, 4-bath house with a separate casita, private pool, wraparound deck (with two hammocks!) and an outdoor kitchen. It sleeps 10, so the capacity of it certainly increases its rental prospects. However, it also has unique properties that […]
We closed on our first property, Condo Boom, in October 2017 and then on our second property, Casa Salita, just under two months later. Why two investments so close together? Having expanded our real estate portfolio from two rentals in our first eight years of investing to two or three per year since then, we’ve […]
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, […]
*** 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 […]
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 […]
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.
