Costa Rica
Let's go straight to the point. Costa Rica rode a boom in tourism for several years, without even trying to market itself. In the beach areas, prices escalated and too many developers piled in to start projects. They relied on American buyers who put down deposits, then in 2008 began to abandon their purchases because the "home equity line of credit" they counted on, back in the US, was denied by their bank. At the same time, the developer's construction loan was aborted by their Costa Rican bank.
As a consequence, the cost of development land dropped. Moreover, there are viable projects which were 80% or more sold, unable to move forward and with preexisting bank debt to service or eliminate. The owners of these tourism-oriented projects are now realizing they are caught in a perfect storm; their customers lost their financing, and the banks shut off their other source of cash flow.
In the coming months, excellent opportunities to take over good projects will arise. I'd like to establish a working relationship with you now, to be in position to acquire a good project for you at extremely advantageous pricing.
Ives Brant, MBA
+1.203.653.2339
cell +506.88.86.2800
