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Hi Scott-
I just finished your book- in fact read it while we were in Costa Rica over the weekend, and I thought it was great. Actually, really great. We’ve built one little place in Quepos, and have been looking seriously around Alajulea and Belen for some time, and you really clarified the process.
I was hoping you could clarify something specific for me though. When you were writing about the buying process, and appraisals specifically, you were adjusting the price of existing homes downward (depreciating) based on the age of the building. If I remember correctly it was 2% per year, and in your formula you called it “pm.”
You didn’t really explain with the initials meant, nor did you explain the basis for the depreciation. Further, was this evaluation tool a rule of thumb (which is usually good for measuring thumbs :^) or was this what the banks do as well?
Thanks for the additional clarification.
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