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The
Villa Ives Kena project in Golfito, Costa Rica……Two Words ..... INVESTMENT
OPPORTUNITY ........ There are places in Costa Rica where folks have made
small fortunes by buying property near the Pacific beaches, for the purpose
of having a cool place to live, escape the winters in the U.S. and Europe
and catch awesome tubes and shorebreak (surfer talk). The next
thing they knew, other people had the same idea and investor momentum took
over, International airports were built, resort chains came in and their
property values went through the roof. Those surfers and escape artists
amassed newfound wealth from their accidental investment. This explosion
started in the Guanacaste area on the northern Pacific coast and has moved
south along the coast to Jaco in the Central Pacific region.
In the Guanacaste area, condos and houses are selling for around $700,000
to $800,000 for a 3000 square foot living area. Further south, in
the Central Pacific region, one can pay $500,000 to $600,000 for an equivalent
living area.. You don’t have to be a Wall Street genius to figure out that
the values of the northern Pacific area are moving southward.
In fact, the Villa Ives Kena project has perhaps a more interesting future
then even its northern brothers. The Villa Ives Kena project
is situated about 15 minutes from the quaint fishing village of Golfito
(Little Gulf).
.
You can have the most beautiful
piece of property in the world, but the surrounding towns and availability
of services and activities are just as important at the property or development.
Golfito is the type of town that
reminds me of the picturesque fishing villages in Greece, Italy and Sardinia.
Now, in Golfito, they have all the necessities of life, grocery stores,
pharmacies, internet cafes, video stores, discos, bars, many restaurants
and hotels. There is a small hospital, university and an airport
with regular airline service from Sansa airlines. However, the big
attraction of Golfito, is that it sits on a huge bay with natural protection
from the ocean. Another feature is that the ocean floor shelf
is right outside the bay entrance. This means that you can find world
class Marlin and other big game fish just outside the bay. So if
the weather turns foul while you are grinning from the monster fish on
you line, you just reel that puppy in and quickly get inside the protection
of the bay. This is the first large protected bay available for boaters
after they exit the Panama canal and enter the Pacific on their way back
up towards the U.S. Pacific coast. Now here is the kicker, they are
building a 214 slip marina in that bay that will accommodate up to 220
foot vessels. Marinas bring large boats and yachts, those yachts
bring wealthy people, wealthy people like to spend their money on luxury.
Can you say BOOMTOWN? Marriot knows this so they have secured land
on the bay and are building a small resort there now. The secret
is out about Golfito, which is why a new International Airport in nearby
Cortes has been planned and approved by the government to serve the local
area.
.
Golfito Marina
Golfito Cyber Cafe
Ives Kena Is Your Tropical Retreat
.
Another interesting fact, near the
town of Golfito is a beach called Pavones, which boasts the second largest
surf break in the world which has enabled surfers to surf one wave constantly
in excess of 3 minutes, which in surfing terms in “The Endless Wave”
Surfing, once a sport for hippies, has recently become a sport for the
wealthy and attracts wealthy people to areas. Just ask the mayor
of Hanalei, Hawaii how many wealthy people caused the prices to skyrocket
there after they discovered the good surfing in the area. Also, just
off the coast is Canyo island where world class snorkeling and scuba diving
is available.
.
Surf Pavones
Ingrid Seiple - Director of
Venus Surf Adventures in Pavones
Enjoying The View
.
Golfito is also immediately surrounded
by the protected, lush, Corcovado rainforest that will be ripe for eco-tourist
activity because of the varied tropical wildlife that exists there.
Golfito used to be a Chiquita banana
town, and when they left in 1985, a Free Trade zone was built to help mitigate
the anticipated unemployment problems. The zone is still there where
you are able to buy goods like clothes, perfumes, tools, and electronics
equipment tax free.
In Golfito, you will find from the
locals the same hospitality and warm smiles that Costa Rica is famous for.
The Ticos and Ticas of Costa Rica and Golfito know how to make you feel
right at home. The town is not heavily populated, so the locals
have that small town innocence not found in larger cities.
Ok, enough of my recent love affair
with Golfito, now more about the project itself. The Villa Ives Kena
is a 1000 acre, planned, guarded and gated private community of 1750 lots.
.
Flying Time To San Jose From
Ives Kena - 1 hour
Costa Rica's Reputation Is Legend
The Neighbors Are Very Friendly
.
Many developments in Costa Rica
are gated, but the public has access. At Villa Ives Kena, the roads
are completely private and only residents with have access.
The development will have an 18 hole golf course, tennis courts, swimming
pool and clubhouse, beach club house 30 minutes away and its own shopping
center with a grocery store, pharmacy, video store, gift shops, medical
clinic and helipad. It sits on some of the most beautiful rolling
hills that I have seen, with some lots having views to the Pacific ocean
and the western border of Panama.
The company, Paradigma is a very
experienced development company in Costa Rica with a proven track record.
Unlike some developers, they have their own construction company and equipment.
That means that they don’t have to seek (beg for) construction financing
like other developers. For an investor that translates to better
security for your investment. Paradigma is selling 1/8 acre lots
for around $40,000 right now. You can build a house in the area for
around $50.00 a square foot. So let’s say you build the 3000 square
foot house that we talked about for $150,000 and tack on the lot price
of $40,000, now you have $190,000 in the game. Remember those other
areas to the north where that same property is $800,000 with less features?
Get the picture? Now here is another opportunity, enter Mr Michael
Whitman, who early on in the game bought a large block of properties.
He is now selling them wholesale for around $19,500. So now your
only in the game for $170,000. Now let's say you don't ever want to build
a house there, just hold onto the property and sell when you want to.
As the marina, airport and Marriot are built, the value of that lot will skyrocket. If you buy a lot from Michael Whitman starting at $19,500 you already have a 25% (or $10,000) return out of the gate. And the deal gets better. All that you need to do is to give Michael $12,000.00 and you can finance your investment at 6% interest which will be about $300.00 a month. Not a bad deal if you figure that you have the potential to make
$500,000 to $600,000 in profit after the project is finished. Paradigma
is able to sell at reasonable prices because they have had the land for
awhile and bought low. The whole property has title insurance with
the Stewart Title company, which is a U.S. based title company. So
you can also feel safe that someone from an old Indian tribe won’t show
up one day and claim your lot.
.
Build Your Own Tropical Retreat
Boredom Doesn't Exist In Costa
Rica
Corcovado Rainforest Is Ripe
For Eco-tourism
.
Another advantage of buying a Paradigma
property, is that they have a company that will rent the property out after
you build a house and manage the long term or vacation rental.
A
real figure is $2500.00 a week for the size we have been talking about.
That comes out to rental income potential of $10,000 a month, not bad for
an investment of $180,000
The also have another great benefit
being a Paradigm property where you can do a time share trade within
the other Paradigma projects in Costa Rica for some changes in scenery.
Let me add a third word to “INVESTMENT
OPPORTUNITY” ……… ”OPTIONS”
The company is being conservative
and saying that they will be finished with building the infrastructure
in 4 years. So, if you are ready to retire to your dreamhouse at
Villa Ives Kena tomorrow, you are out of luck. But if you are saying to
yourself “I missed the investment opportunity in Guanacaste and the Central
Pacific region when it was cheap”, well McFly, now is the time for redemption.
So get in your time machine and go “Back to The Future” and buy a lot at
Kena Ives at these early development prices. While no investment
in the world is certain, you have the advantage of knowing that developed
real estate on the Pacific coast of Costa Rica is a money maker and the
Golfito area is the next place to be developed.
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