Category Archives: Nicaragua real estate

Real Solutions

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I’ve been asked why I am involved in both local and international real estate, coming out of such a global economic crisis. First, it’s because the real estate world is becoming smaller and it’s what people expect. But perhaps more importantly, it’s because of events over the past several years that I have become so involved.

On the whole, people buying properties outside the United States are not fabulously wealthy, living a jet set lifestyle. They are solidly middle class, looking for a cost-effective yet desirable alternative to places like Palm Springs, Phoenix, and Fort Lauderdale for vacation or investment property.  And for people nearing retirement, they face the real dilemma of how to not outlive their financial assets.

Consider this: Ernst & Young reported last year that three out of five (60%) middle class retirees would outlive their assets if they did not cut back on spending significantly.

A major source of funding that many people planned on for retirement was home equity. The plan was to sell their appreciated asset and buy homes in warmer climates, banking much of the cash for additional income. While for many that is still possible, for others looking/needing to retire very soon, that amount may be substantially less than expected.

Enhance your lifestyle and spend far less? It’s possible, and Nicaragua may be right for you. With a growing ex-pat community, the friendliness of the Nicaraguan people, and cost-effective housing options – all in one of the safest countries in our hemisphere – be prepared to be surprised.  I work with developers that offer homes built to American standards, with many priced under $200,000 in a new urbanist neighborhood, and near the ocean to boot!  Combine that with the ability to live on $1000-$1200 per month, and you truly can enhance your life and spend less. Please feel free to contact me, and I can send you a complete budget with actual receipts to show you how viable this is.

Even if  the idea of buying a home outside the  United States is just a twinkle in your eye, please do not hesitate to contact me. It all begins with an initial conversation and a plan.

To my REALTOR colleagues – contact me, too. We offer attractive referrals and make it easy for you and your clients.

House Hunters International

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House Hunters International is featuring my colleague – Mike Cobb – referenced in an earlier post.  Watch July 31st.  If you have any interest after the show, just give me a call. There are properties available or planned for a number of Latin American destinations, so we can talk through which might be the best option for you.

Remember, it all starts with an initial conversation and a plan.

Link to HGTV site:    http://bit.ly/hrtZt

“It’s beautiful, BUT…”

Some people that I talk to about Nicaragua share a similar concern. Is it safe? Fortunately, that is one of the easiest questions to answer. YES! Risk Briefing Services, part of the Economist Intelligence Unit (EIU) confirms this. So, not only is Nicaragua beautiful, with some of the warmest and friendliest people you will find anywhere – you could live in or retire to one of the safest countries in the Western Hemisphere!

Isn’t shattering myths refreshing?

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Meeting Recap / Good stuff indeed

img_13252I had a thoroughly enjoyable meeting yesterday with Mike Cobb, Chairman & CEO of ECI Development. He was visiting Portland and the Northwest from Managua with his family. Present at the meeting were four local investors and me. Since I have been promoting one of ECI’s developments, Gran Pacifica, it was great to meet one of the company’s co-founders – as well as learn about ECI’s short and long-term plans for growth in Latin America. While visiting Nicaragua last year, I saw numerous sites with properties for sale; just as in the US, not all things are equal. Some were divided up for speculators who planned to buy low and sell high a few years later. In many of these same developments, very little was invested in the infrastructure for roads, water, electricity, etc. The developers were highly leveraged and now have to sell or the properties have gone into receivership.

Cobb’s group takes a markedly different approach. They invest heavily in infrastructure – roads that will sustain the rainy seasons, water systems that provide consistent pressure, and drainage that moves the water away from residences. These investments are made up front – not promises that may or may not materialize. They also own the property outright. So, when the market slows as it has globally, they aren’t in imminent danger of not making the next payment!

Mike gave me a copy of ECI’s Prospectus which contains some great information about the company’s strategic plan and several studies commissioned by their group. Studies include “Retirement vulnerability of new retirees: The likelihood of outliving their assets” by Ernst & Young, and “Resort Real Estate Study, Industry Perspective on Consumer Trends Emerging from Economic Crisis.” His company is positioned for the long term, as evidenced by the thoughtful and comprehensive approach they take to their business. I am happy to share whatever information I can to help you make an informed decision.

Millions of people, literally, will be taking advantage of some unprecedented opportunities to invest in real estate during the current downturn – both domestically and internationally. I can help in either case. It is critical to be armed with accurate data and be connected to skilled professionals, and that’s where I can help.

My current and future areas of focus include:

Belize
Panama
Nicaragua
Costa Rica
Argentina
Chile

(and of course, buyer and seller clients in Portland Metro!)

If any of these appeal to you, please contact me. It all starts with an initial conversation and a plan.

June Promotion – Gran Pacifica

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Whether you’re looking to make your first real estate purchase overseas, or to add property to your portfolio, here is a great promotion for anyone who is decisive and ready to act. Gran Pacifica has a straightforward process to complete the ownership paperwork, and have a reservation option if you’ll be financing. They will also help with travel arrangements to visit the neighborhood prior to finalizing your decision. Please contact me for full details, but below is a brief overview.

Special Price $39,000 & will return to $69,900 on July 1st, 2009

  • Price until close of business (must have funds wired) June 30th
  • Price is $39,000 cash, or finance 50% for 11.5% interest
  • Lots are approximately ¼ acre, 10,000 sq. ft. MOL
  • No HOA fees until the infrastructure installed…about 3 years
  • If funds received by June 30th, all closing costs are paid
  • You can own three lots in a package for $99k
  • Build, hold, or flip…..your choice

If you’re not ready to purchase now – but owning a tropical home is a longer term goal – that’s fine too. Let’s start discussing the What, Where, When, and How of your future dreams. The first step is to make a plan!