Comments on: The current state of international real estate in Costa Rica http://www.revealrealestate.com/blog/the-current-state-of-international-real-estate-in-costa-rica/ Real estate data, property reviews and strategies for successful international real estate investing Sun, 12 Feb 2012 04:07:40 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Scott Williams http://www.revealrealestate.com/blog/the-current-state-of-international-real-estate-in-costa-rica/comment-page-1/#comment-13601 Scott Williams Fri, 04 Dec 2009 14:22:18 +0000 http://www.revealrealestate.com/blog/?p=459#comment-13601 I am flying to Costa Rica Monday to close on my purchase of a small failed condo development. Begun during the boom, units were originally priced at or above $400,000 for large 2 bedroom flats. The developers lost their equity partners and bank financing to complete the now half finished project. Purchasing this this small, 18 unit, 3 building development seems like a golden opportunity to benefit from the downturn. We are buying this property cheap enough to sell the units when they are finished for $200,000 USD and still make a tidy profit. We are naturally concerned about our ability to sell these units in 12-18 months, and wonder if any of your other readers have tried this approach with success? I am flying to Costa Rica Monday to close on my purchase of a small failed condo development. Begun during the boom, units were originally priced at or above $400,000 for large 2 bedroom flats. The developers lost their equity partners and bank financing to complete the now half finished project. Purchasing this this small, 18 unit, 3 building development seems like a golden opportunity to benefit from the downturn. We are buying this property cheap enough to sell the units when they are finished for $200,000 USD and still make a tidy profit.

We are naturally concerned about our ability to sell these units in 12-18 months, and wonder if any of your other readers have tried this approach with success?

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