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David…. I think his (theone-Randy) original question was asking for some imput on this investment outfit called Paradise Profit. He then did a little more NET research while awaiting a reply to his posting and found some of the answers to his questions and posted a follow-up.
He seems to state the fellow in question is another US transplant with limited years of “experience” here in Costa Rica that is now an expert running an investment company and is marketing a book. He seems to imply that this person may or may not even be a legal “resident”. The poster was also asking if the investment company is register with SEGEVAL. At least that’s my take on the conversation. Perhaps I have it wrong. The guy (Theone) might be a unhappy competitor or investor… or someone else with an ax to grid… who knows.
I have no connection to any of the players in this conversation but think the guy has some valid questions. Perhaps Scott can add to this with some fact. I think Scott gave a reference to this guy… they even use it on the Paradise Profit website selling the book. Or perhaps the fellow in question can address the questions in the original posting? Can anyone else add to this? Is there a way to check one’s status here? Is there a way to check if a company is registered with SEGEVAL? Do we really know how much experience this guy has?
I have to say… the website is well designed… but then again… most of the biggest scams of recent history shared that same trait… so I don’t give much weight to a slick web design. It might be totally on the level, who knows!
You have to love a forum like this where information like this is shared and investigated.
David, I’m not sure of any of the player’s motivation in this discussion… but there are some vaild questions. This fellow is a Recommended Realtor on this website and is marketing a book and investments on a website that features a testimonial from Scott. I know Scott’s reputation and opinion are paramount to all of us. This isn’t ANYONE being singled out… it is someone that is FEATURED and RECOMMENDED on this site and is therefor thought to be on the level. It’s important for anyone using this website to know WHO they’re dealing with. I’ll await the replies from those involved.
Fire away!
Edited on Jan 01, 2009 11:20
I’m sure you’ll find MANY of the folks in business and selling real estate here in CR are on tourist visas. Quite a few give their story about coming to CR on a vacation and falling in love with the place. Many are quite young… and therefore not likely to be retirees, nor do they seem to be the types that have deep pockets to apply for rentista or investor status…. and even then… are they legally able to work? They all have a story to tell… most of them don’t mention their status here in the country for good reason. I’d be interested in knowing how many of the folks that do business on this website are residency challenged.
Come now Sprite… can you really believe that Americans are going to stand for our own troops taking over?
First off, the US military is spread much too thin at the moment to make ANY real effort to address anything more than very localized civil unrest in the US. I doubt the US military could even muster enough manpower and equipment to take control of NY City. And that leaves a BUNCH of the US to cover!
Second, per person the US has some of the highest ownership of guns in the world. Do you really believe that todays volunteer Army member is going to take on a mission on US citizens at home that has fellow Americans shooting back? They don’t want to be in the countries we are now spreading freedom.
Be it a legal or a logistics issue… it’s not something that’s a concern.
And finally… once again… with all the folks here that hated W so much and wanted the change Mr. O was spouting… is it really an issue at all??
Edited on Dec 30, 2008 22:31
And come to think of it…. I see quite a few VERY pro-Obama names here in this thread…. how could any of you think your boy would be part of this? If W didn’t try it… how could you even consider Mr O as being part of this type of action against the people…. or perhaps this is the “change” he was selling?? LOL 😉
Have no fear folks… if they use these troops as successfully as they did in dealing with Katrina…. we’re all fine! And remember… if Uncle Sam uses the troops on Americans in other than some type of natural disaster… they’ll be quite a few firing back at the boys unfortunatly! You have to love the Constitution! All part of the checks and balances between government and the people that the framers saw, over 200 years ago! Besides, there’s enough firepower in many parts of the US that Iraq will look like a cake walk should Uncle Sam take on his own people!
While I feel that the US is headed for some major pain… the idea that troops will be used in some type of action against the public unlikely. Both legally and technically it’s a tough idea to sell.
Chances are you’ll have no problem at the San Jose Airport. They’ll x-ray your bags as you’re leaving the baggage area… and none of the items you mentioned should show up and creating any interest on the part of the customs officials. I’ve been through with TONS of stuff for the house and friends…. and have never had a problem. If possible have a receipt of some type to show if asked (it doesn’t even need to be for the items you have) and above all… smile and be polite. You’re going to CR to do something nice… so don’t worry about a problem.
Edited on Jan 02, 2009 13:28
Marcia… I’m sure there are a number of folks here that will be more than happy to give you a good referral. With all the proposed changes it’s best to have a qualified attorney take care of your application.
Good point Sprite… but I’m guessing there will be many more desperate folks in the US that will not be able to fend for themselves…. thus many more willing to try to take what you have. In CR more people will be able provide for themselves as Maravilla points to. A better growing season, simpler life, and a less material exsistance. Besides…. the slide from being poor to poorer isn’t as difficult to swollow as the slide from wealthy to poor. And the life skills of the folks in CR are much better suited to survival. I’ve witnessed them myself and it still amazes me! I tend to think the chances of survival in CR are better than life in one of the big cities in the US if things get bad.
Edited on Dec 26, 2008 15:26
Real good points Sprite. And as much as the folks in the US think they can handle this problem… american society has change too much from the days of the great depression and WWII to deal with a REAL depression. People are not like generations past, and they don’t have the stomach to fend for themselves. California and New York will fall first. They’ve already started to prepare the public with the current budget reports. Both states are looking at needing $20 billion to stay afloat. And they will need the money soon. And the larger cities are facing hugh problems too. One by one each level of government will be looking to the next for financial help. But since the states don’t have the ability to just start the printing press (not that we really print money… we just create it electronically these days) they’ll be looking to the Feds to bail them out! It doesn’t end well.
Option #2 sounds about right… but I did buy an 8 acre farm out on the Osa… off the Sierpe river just in case it #3 becomes a reality! I’ll work on the guns and dogs next if things really start to head south! LOL
Edited on Dec 26, 2008 13:51
I’m a big fan of canned Tuna… the perfect form of barter! LOL Should things get real ugly and “cash” is discovered to be what we all know it is… nothing more than another empty promise of government… then we’re all going to have to come up with another way of conducting our way of lives. There was that fellow (a bit crazy) that was talking about the “Amero”… and lots others with their own ideas… but seeing how the US Federal Reserve has “created” over 4 trillion dollars for all these bailouts and schemes…. I’m thinking a lot of people will be waking up to this new economic reality. But then again… TRILLIONS in home equity and stock value have gone missing too…. so who knows what’s going on!!
Back to the question… I’d be careful making any major investment in any bank in CR right now. The Oscar and the boys seem to think CR is isolated from the world and will not be impacted by what’s going on in the world. They’re VERY wrong. While the CR people are in a better position to ride out a rough time. I’m not as sure about the banking system.
Edited on Dec 26, 2008 13:53
Inflation…Deflation… Currency swings… Exchange rates… all a big game that the average person is caught up in but will not win! Best advice in these times is to have you money SAFE and AVAILABLE. That is if having “cash” is the best move at all! Perhaps canned tuna and hard assets are a better move, you have to be the judge! LOL I’m not sure putting your money into a CD in a CR bank where you’re not sure of the terms, don’t speak spanish, and can’t be sure of what protections are in place should the worse happen is the best move at the moment.
I’m sure 8% seems like a lot of money…. but like insurance companies… banks aren’t “giving away” anything! Even with the need to raise lending capital they’re not a charity. They’ve already prices all the factors into their offering. And in the end… THEY make money… your “return” doesn’t matter to them.
Best move is to be secure and liquid….
Edited on Dec 26, 2008 08:36
jerrelli, The big question is how will they know where you call home? No doubt they have a direct deposit system in place so just have your retirement checks deposited into you bank in the states and draw on them with your debit card here. Perhaps a more important question is… how do you plan to live on $10k/year?
Edited on Feb 17, 2009 21:07
Alberto. There’s no hate for PT’s. You’re quite correct that this is how the law is currently written… but folks using the PT route are making the issue one that the government in CR is going to have to look at. By allowing a loophole to be used to circumvent the spirit of the law and not having people meet proper immigration requirements you create a problem. For folks that have homes here and only come down 3 or 4 times a year for a month or so… it’s fine. Why bother going through the bother if your intent is not to stay here for extended priods. The problem is that there are MANY people using the PT route that come and go and are working in CR. Some just can’t meet the residency requirements… others are flying under the radar for a reason.
I’m sure there is a balance that must be considered. The PT issue is one point I’d agree on… but the new requirements will punish many longtime hardworkers that cannot make it in the US and are thinking about CR for retirement. Those folks are the honest, hardworking, by the rules type that will be impacted! But then again… looking at the changes in the US… these same folks are getting a royal screwing there… so why should CR be any different!
Costa Rica has had it’s share of out of control growth… but that’s being tamed a bit now… let’s hope for a soft landing. With all that’s going on in the world it’s foolish to think CR will not be effected. We’re already seeing that here! As such the idea of cutting off future incoming investment and income from retirees and expats would be a big mistake. The flow of investment and newcomers is already slowing.
As for the “making a living” thing… well anyone that knows the cost of labor here has to be a fool to think they’re going to be able to come here and compete! Real Estate sales and development and tourism aside I’m not sure there are many jobs for newbies.
With no REAL rules on real estate sales here in CR you’ll see a lot of this! Continue to do your homework, check every source, talk to people, and stay removed from your purchases! I’ve looked at dozens of properties. The more “interested” you are… the higher the price will go! Having a local connection that can check on a property for you and TRY to nail down a price is a good idea! Never look like the rich gringo looking to make a deal…. BIG mistake!
I’ve had properties “appreciate” while I was walking them… funny how that happens! You’ll also find “net” listings… folks fronting property that have “added” their take on the deal to the purchase price becoming the middle man in the deal. A owner/seller asking “X”… and the “broker” fronting the property at an asking price of “X” plus $25,000!
Some properties are just plain WAY OVERPRICED! Tico sellers just hoping that a gringo with a bag of cash (from the money tree you have in your yard back home in the states as many Tico’s believe) will come by with stars in their eyes and fall in love. Although I think there is a bit of wiggle room on price now as compared to a year ago…. you’ll find that many sellers (Tico’s) have a price burned in their mind and will wait you out. Many figure if you show interest at $$$$ there must be someone out there that will pay $$$$$$$$$. Not having to sell the property “now” gives them the advantage… they can sit on their nestegg and wait… some are downright crazy… but it’s their property and thay have the right to ask what they want!
I think many of the bargains out there right now are to be had from non-Tico sellers (gringos) that are in a tough spot here or back home. You might have much better luck finding a deal and the ability to wiggle a better price in that market.
Good luck and Happy Hunting… this site is a great source of diverse honest opinions as you’ve seen… so keep up the research!
Edited on Dec 16, 2008 13:42
