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Although I am not an attorney, I believe your LLC definitions are correct and I agree! The information on those links is incredibly damaging.
I don’t wish to rethink my comments… As the owner of this website I would ask you to bear in mind that I have different responsibilities from a legal standpoint than you do as someone who is simply posting a comment.
Don’t know about debbiesurfs but I know exactly how I respond to this type of information and knowing this kind of person ‘may’ well be doing the same thing here that he did in the USA.
I love this rich coast called Costa Rica and I love the people and don’t like to think that they or, unsuspecting North Americans will suffer in any way from the activities of people with less than honorable intentions.
That’s what we are here for, giving people the information they need to make sensible decisions. “If only” they would pay attention.
Scott Oliver
I do not know this for a fact but I do believe that there are many people from different developments in various forums in Costa Rica who are trying very hard to find faults with their competition and to dig up as much dirt (no pun intended) as possible about them.
To a certain extent this is understandable and obviously our Discussion forum has become a place for some very strong opinions by some obviously determined people.
I am trying hard to ‘moderate’ so that we still maintain a place for intelligent and educated exchanges where people can learn as much as they can about Costa Rica real estate.
Scott Oliver – Founder
WeLoveCostaRica.comThese posting placed in the wrong place and re-posted here by Scott Oliver.
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Posted Jul 11,2006 9:55 AM jillstowe
I read your post. This well help you and your boyfriend who are trying to find out about different develoeprs in Costa Rica. It appears as though the word “Developers” means you are checking more than one although you always seem to talk about Paragon in your research. That seems a little strange to me. Maybe you can research the develoeprs I posted to Scott. I read Mr. Gale’s response and I looked at their site I was impressed with what they are doing I also checked with the state of Florida and Lehigh Acres that he was involved with is a real city. If they converted and developed raw land into a city of 45,000 people I am glad to see someone with that background coming to Costa Rica. I wish him all the luck in Costa Rica if he does the same thing here he did in Florida a lot of people will have a nice place to live. I looked at their models and they look very substantial to me I am not an expert maybe you are. I am a legal secretary what do you do for a living.———————————————-
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Posted Jul 11,2006 10:01 AM Maravilla
You said:If they converted and developed raw land into a city of 45,000 people I am glad to see someone with that background coming to Costa Rica.
I can’t even imagine what will happen to Costa Rica if this kind of development takes place. It’s exactly these kinds of sprawling cookie-cutter projects that have destroyed Colorado and many other places. I’m moving to Costa Rica to get away from this kind of rape and pillage mentality, I don’t care who the developer is.
The Florida Department of State Division of Corporations website at clearly confirms that Ellis Kahn is named as the “Manager” of Costa Land Developers, LLC
The name of Ellis Kahn comes up as a “corporate officer” of a number of other Florida corporations, many of which do have financial sounding names which is where it would appear that Ellis Kahn has had some serious regulatory problems.
Mr. Ellis Kahn’s name is mentioned in an article entitled “The Real Boiler Room. Hollywood’s International Currency Management specialized in trading foreign currency — and helping clients’ money disappear” which you can see at:
According to “Kahn was the president and a principal of JCC. (Full company name JCC Inc) which was “expelled’ from the NFA (National Futures Association) which you can see at
You can see the serious allegations of United States Court of Appeals, Eleventh Circuit. No. 94-4561. JCC, INC., Ellis K. Kahn, Paul Richard Bell, Petitioners, v. COMMODITY FUTURES TRADING COMMISSION, Respondent. Sept. 15, 1995.
detailed on the CaseLaw website atJCC and Ellis Kahn are also mentioned in an arbitration proceeding detailed at where in the “Summary of Issues” JCC Inc it speaks of: “MISREPRESENTAION OF PROFIT POTENTIAL AND IMPORTANCE OF ACCOUNT OPENING DOCUMENTS, EXCESSIVE TRADING IN ORDER TO GENERATE COMMISSIONS, FAILURE TO DISCLOSE RISK, HIGH PRESSURE SALES TACTICS, FAILURE TO NOTIFY CUS- TOMER OF DEPLETED BALANCE, FAILURE TO PROTECT CUSTOMER.”
Needless to say that we are referring to one person here Ellis Kahn the “Manager” of Costa Land Developers, LLC. The company in Costa Rica may have some very experienced people behind it even though it would appear that Mr. Kahn has absolutely no experience in land development in any country never mind Costa Rica.
We would ask any of you that are in communication with this company to email them this information and ask them to inform us in this forum of what kind of previous experience Mr. Ellis Kahn has land development in Costa Rica.
Scott Oliver – Founder
WeLoveCostaRica.comI’m assuming that they are referring to the Costa Rica Real Estate & Tourism Guide which is the largest circulation real estate magazine in Costa Rica and is most definitely ‘paid for’ advertising.
Scott Oliver – Founder
WeLoveCostaRica.comYou’re not wrong at all, we just need to be sure that we are sticking to the facts and not making silly allegations.
Would you please confirm which projects ‘Costa Land Developers’ are involved with because ‘Costa Land Developers’ and ‘Costa Developers’ are two different companies no?
Scott Oliver – Founder
WeLoveCostaRica.comI’m not sure if it’s wise to choose “healthcare” as the main reason to live in Costa Rica.
45,000,000 Americans without health insurance – now that’s terrifying!
Many North Americans here do become a part of the CAJA health care system and for many health problems it’s perfect.
But like most health care systems anywhere in the world there are major failings so when there appears to be a long wait for something, or a shortages of drugs, equipment, other medical products or professional skills, that’s when many people go ‘private’ and thankfully ‘private’ here costs a fraction of what you would pay in the USA.
Scott Oliver
WeLoveCostaRica.comI’m not familar with any Spanish real estate websites for that area – It is a fairly remote and very sparsely populated area and from what I understand, it’s more of a ‘face to face’ market than one that you’ll find on the interent
Scott
Depends what you mean by “non-gringo” and “postings”
We have plenty of people other than Americans on this site
Scott
There are very few established REITs in Costa Rica and most of them have been formed by the local banks.
The one thing that I did notice in their documentation is that nearly all of them – by US standards – have outrageously high annual management fees.
I do NOT know for sure, but would suggest that if you have seen any bilboards advertising a REIT (which is considered a “public offering” under Costa Rican securities laws) on the way to Parrita that it would be a very “informal” REIT (he said politely) – That probably means that they would not be registered with the SUGEVAL (the SEC equivalent here) as a formal investment fund and therefore NOT able to accept investment monies from any investor in Costa Rica – Tico or gringo – You would probably be asked to send your money to Panama..
DO YOUR HOMEWORK carefully BEFORE you invest a dime in real estate or REITs.
Scott Oliver – Founder
WeLoveCostaRica.comJust for the record, I have never heard of ‘Noticieros’, who are they? Where are they based?
Scott Oliver
WeLoveCostaRica.comNera
Jose was offered and has accepted a position with the largest, most powerful law firm in Costa Rica – Facio & Cañas so he’s had a few things on his plate this last week or so… PLEASE do try contacting him again
Scott Oliver
WeLoveCostaRica.comThey call you on a daily basis because they want to make a commission obviously… They have to have a “sense of urgency” to encourage you to make a decision.
Wait for the information from your attorney and do NOT be rushed into making a decision by any sales person.
I did have a posting in this forum about this group but accidentally deleted it – do you have that?
Scott Oliver – Founder
WeLoveCostaRica.comPS. The confusion that I have seen is that many people confuse ‘Costa Developers’ with ‘Costa Land Developers’ and if I understand correctly, they are both completely different and unrelated companies.
If someone from either company is reading this, please do confirm that this is the case.
I think that you wil find that the private banks are ten times more difficult to open an account with than the state banks.
Scott Oliver
WeLoveCostaRica.comHere’s what the people at Marina Pez Vela told us late last week in regard to the apparent lack of construction activity.
“Our US engineering firm, RETEC; http://www.retec.com has made several significant changes from original Costa Rican engineering firm’s plans that we worked with for the Concession basics. RETEC is on lead with our Costa Rican contractor MECO; http://www.mecor.com and does not need to start till the middle to end of this month to have slips ready by late fall of 2007.”
So as we have stated previously, there is no major construction work going on but they do anticipate starting later this month.
I would guess that this will very much depend on the weather.
Scott Oliver – Founder
WeLoveCostaRica.com
