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What would be wrong with a group of 10 or 20 people buying a hectare of land in a Corporation for $100k and go through the development process ourselves. We could report our progress as an ongoing article here. I think this would be both informative, educational and help other readers do the same. Of course I am going to get flack from developers on this site that make a $100K or more on every house they sell. Consulting with my CR attorney sees no problem with this.
Feedback?
Stanley Putra
Racine, Wi. 53406There’s absolutely nothing ‘wrong’ with the idea at all Stanley and I genuinely wish you the best of luck with it but as you have probably noticed, I recommend experienced developers with a proven track record of delivering quality real estate on this site and there’s not enough hours in the day to investigate them never mind other less ‘proven’ developers.
I’m supposed to be semi-retired but in working 70 hours per week it’s not really “semi” or “retired”…
Scott Oliver – Founder
WeLoveCostaRica.comI don’t know how practical it would be to plan to organize that many people together to purchase a suitable property. However, if you are able to do so, there is a legal process, which enables individuals to subdivide raw land into lots that is much simpler than going though the condominium law process. Therefore, you will incur less time to complete as well as lower legal fees. Ask your lawyer if Article 292 of the Costa Rican Civil Code would be suitable for your new concept. Good luck!
Sir
I really appreciate your reply. Upon my return to CR maybe we could get together as I am working on a 23 house project near Bandera. I will be the first gated guarded subdivision in the area. I am woundering if we have met? Do you have a site? Roger Peterson has an article here, I think I will ask him about Article 292 of the code. I have got my eye on just over a hectare about 4 miles out of Parrita and 5 minutes from the beach. You commented on a gentlemen call bright and he wanted to get around using an architect, Big Mistake. Many builders as you know are not familiar with the seismic activity here. I hear there were many hotels built North of Jaco with shortcuts. My architect says the area is due for a big quake and we unfortunately may see buildings come down. People don’t realize what a concrete block dropped 3 feet on a baby would do. Listen I have my eye on this hectare. Any suggestions on how to raise funds for a project?
Sincerely
StanStan. You can contact me and read Scott & Wendi’s article about my experience: ‘Costa Rica Homebuilder in the Central Valley – 25 years of experience.” by clicking on https://www.welovecostarica.com/members/1550.cfm
I am doing due diligence on this Hectare. I look for properties where people have given up their properties here and returned to the states. Not because of CR but responsibilities back home. We are doing our due diligence. Maybe I will put an option in and list it in the fore sales by owner section. I would look for 10 buyers as she will take $100K for the lot. It is high and dry 4 mile out of Parrita. The same beach as my other project Bandera. It is a beautiful area. Will you build there? Do you think that real estate is slowing down in CR or not?
Stanley Putra
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