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Just found this great site – what a mine of info and thanks for having us!
We are going to Costa Rica June 8th-12th specifically to decide upon purchasing a B&B for sale in Ocotal. As a background, we are late-40 Canadians (UK also), long-time business owners (contracting and hospitality) who have travelled Costa Rica (central valley, Arenal and Osa) and would love to make it our seasonal (at minimum) residence. The Pacific coast seems to be an area we’d like (we love water, sun, and have a boat here in BC) but we haven’t visited there before. We are relocated several times in our lives to 3 different countries and bought many properties over the years so we’ve been around the block a bit but we know there’s always new stuff to learn -hence the message!
From my research of the area, things look promising. We will be using a realtor and if we do purchase, a lawyer to set-up a corporation, notary etc. Please feel free to offer advice, particularly about this growing area before we go……..Thanks in Advance!
Hi:
I would strongly recommend to have a business evaluation before you go ahead with this deal and this must include the tax situation of the current owners (corporation or individuals), as well as the financials and other important topics such as business licenses and permits.
Guanacaste is a fast growing area, therefore, a lot of competition, the way you promote your business and the niche is the key to success.
Best
Ocotal is very nice. Small, and not too remote. I don’t remember any marina there though.
It’s 2 miles South of Playas del Coco, a beach very popular among the Tico middle class.
Since you’ve been down there, you know about the problems relating to theft. An operational B&B sounds interesting, since someone will always be on site to take care of things (right???). You couldn’t leave it alone.
Frankly, if I were to start a lemonade stand, I’d locate it near 10 other lemonade stands, since that’s where everyone goes to buy lemonade. You might do better where there’s already a lot of traffic, like Tamarindo or Flamingo (there’s a marina there). Unless of course this is more a hobby for you than a needed source of income.
Thank-you! We did NOT buy the Inn since it had too many structural problems (lucky hubby is contractor) but we did end up buying a duplex in a gated community in Playa Hermosa, 8 km north of Playa Del Coco. (A marina is on the books – should have started already but they found coral where they’d have to pile-drive so had to move it.) Really liked the whole area; plenty of residential in Ocotal and Hermosa and lots to do in Coco. All only 30 mins from the airport.
So now we will have accommodation when we go down as well as rental revenue.
Costa Rica is a wonderful country with great people.
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