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 add income potential and versatility to what we can do with the property:
A double lot to sell outright or expand
The property is on two lots, so we could sell the lot that is less developed, or we could build on that lot – either a small separate house or additional casitas.
We like how expansive the property feels currently (see the photo at the top) and its potential as one big unit, so we probably won’t break up the lots, but it’s nice to know we have that flexibility.
A party space
The extra lot means extra space for events. With sleeping quarters for 10, it makes an excellent venue for a small wedding – get married on the grounds, put the newlyweds in the casita and the rest of the party in the house.
The entrance to the outdoor space even has two trees that greet you as you enter. (or you could build a Chuppah there!) The house and grounds could also throw a fun bachelor / bachelorette party, family reunion or other celebratory event.
A corporate retreat
With five separate sleeping quarters and plenty of plenty of activity space, Casa Salita would make a much more interesting corporate retreat.
The CEO, COO, CFO, CTO, and CMO could do their strategic planning, and spouses could enjoy the pool, the hammocks on the deck, or the rest of town.
A co-working / co-living space
With so much space to work and play, and with the property being quiet and tucked away, you could also launch your start-up there. Grab your co-founders and use the backdrop of Costa Rica’s Gold Coast to inspire your next launch.
A learning space
Host a yoga intensive, meditation retreat, or book it for your writers’ group during NaNoWriMo (National Novel Writing Month).
Next location for Celebrity Big Brother
I happened to flip on the TV when an episode of Celebrity Big Brother was airing. Mark McGrath was balancing on fake skis in some kind of challenge. Perhaps, the producers would be interested in bringing the next cast to Casa Salita?
They can set up the challenges on the grounds, although it would make more sense to do a surfing challenge, given how well-known Langosta is for its surfing.
If not Big Brother, some other show or photo shoot would fit right in.
A sustainability training ground
Two sides of the property are surrounded by protected areas. From the second level master bedroom, as you look out onto the trees, you definitely know you’re in Costa Rica.
This property gets so much sun, you could continue that ecological theme with solar power and water canisters on the roof to collect and heat rain water, in lieu of an electric water heater.
We’d have to look into what types of crops the soil promotes, but the grounds could also make a nice garden or fruit orchard.
Bring Bollywood to Costa Rica
My community Y in the Bronx offers Masala Bhangra, which has been such a fun way for me to lose a little weight and improve my cholesterol numbers. I’m holding out hope that my Master Instructor, Deb Kolb decides to host a retreat and hold classes on the grounds. If not, I can even do it myself since I’ve completed my own teacher training!
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We’re already making money from simply renting Casa Salita to vacationers. Once we start specialty marketing the property around specific events and themes, we’ll widen our customer base and increase the value of the property. It pays to look for properties where you can add value beyond the obvious.
How about you? Do you have a property where you generate income beyond the typical rent?
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This post is part of a series on the purchase of our 2nd property in Costa Rica:
- Why We Timed Two Investments So Close Together
- Why This Rental Property Is Worth More Than Just The Rents (current post)
- Using A Self-Directed Retirement Account To Buy Real Estate
We are Scott and Caroline, 50-somethings who spent the first 20+ years of our adult lives in New York City, working traditional careers and raising 2 kids. We left full-time work in our mid-40’s for location-independent, part-time consulting projects and real estate investing, in order to create a more flexible and travel-centric lifestyle. 
Financial independence and early retirement is not something we originally focused on, but over time realized it was possible. Our free report, 
