pre construction condo investment in Costa Rica

[aljones]

I am being offered a investment deal on some pre construction condos in costa rica. I need to gather as much information as possible to make sure I don’t get ripped off. The deal almost sounds too good to be true. But I also realize, no risk, no reward, I am thinking about investing in maybe a half a dozen pre construction condos at 40k a piece. Any info would be helpful, Thanks, I am new to this site.

[chicmac]

You are being “sold” or you are being “offered” an “investment deal.”

In this case, “pre-construction” means what exactly? As in many, many cases, does it mean they don’t have the money to buy the land yet, but with your $240K they can buy the land and then get started?

Do they have ANY experience in real estate development anywhere in the world? And most importantly, do they have a proven track record of building quality homes in Costa Rica?

To be blunt – $40K sounds like a ridiculously low price even at the “pre-construction” stage so even if it is “too good to be true” and they actually build something I can only assume that they are A: Of very poor quality and B: Very small in size and C: Not in a particularly attractive location.

Is this project located within an active volcano perhaps? 🙂

But seriously, do try and tell us a little bit more and we’ll try and give you more detailed feedback…

[philipbennie]

could be ok. I’ve bought “condos” at 25k preconstruction 400m from the beach. Give the name of the project or condos and maybe I can be of help.
Phil

[Violetta]

And here I am thinking of buying a 1/2 acre lot (just the lot) 1000m from the beach at $60,000, pre-construction – at Costa Esterillos, near Jaco..

We are going to visit with Costa Developers early in August to make a final decision…

If I find a reasonable flight schedule from the East Cost – not easy.

Viola

[philipbennie]

you are comparing two different things….land at $30 a metre 1km from the sea and a condo with no land at a price of around $1000 a square meter. Land at $30 a meter with good services in a nice development close to the beach is not so bad.

[Violetta]

Thank you, Philip. Guess you are right.

[Author]

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