Hey guys, I was just wondering if anyone here has actually moved to and lived in Costa Rica? My family and I currently live in the bay area, and we were tentatively looking at possibly buying a small hotel down there. In know it sounds crazy, any thoughts, suggestions, or advice?
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Costa Rica?
- Thread starter johnson7
- Start date
I have been married to a Tica for 22 years I met in Puerto Viejo and spent 3 years living in Puerto Viejo then I moved my family back to the states when my son who was born in Costa Rica was a year and half. I would try it out first before you buy like a least 6 months to check out hotel business is tough with stiff competition with hotels and restaurants every where now way different then when I lived down there in early 90's to '95. Also you need get legit paper work done and apply for extended visa and then finally residents right away you can not hang low like before and pay your visa fee when you leave. The food is expensive for Latino countries but the health care is very affordable and even private where you well be treated like a king is cheap enough specially compared to the US. Electronics are cheapest in Panama so you can cross the border to buy and bring back into CR. I would read up on the laws and etc before and hopefully your old enough to collect some kind of retirement because tough to make it on what you might make at your hotel so have a plan B and even C to keep food on the table. My wife and I currently are thinking of going back to live when I am 55 so in about 8 years and we well sale our home here and collect retirement and live ranch style with a few businesses what ever works so again be flexible but don't expect to find work. Again I would rent first and try it out before you buy you can score great deals if you rent a home or what ever for 6 months and see if you like it 
Thanks again Row Jimmy,
I wish we were collecting some kind of retirement, I'd have a bigger stretch quiver, haha.
Yeah there is a ton red tape cut, permits, visa's, and all the rest. We live in the bay area and were thinking about selling one of our properties, and renting out the other one, to see if something like this was doable. So we starting looking at small hotels (6-8 rooms) on the southern nicoya peninsula, that you could live on site, and have a minimal staff. The little research I've started is already telling me this is a bad idea, but who knows. After speaking to some realtors the financing is basically all cash or at least 50% up front and possibly seller/fincancing, with high interest rates. Like you said as well, in a really competitive market. Then I just starting looking at overhead, utilities, and water tables in that area, its putting a sobering slap in the face on a fun little dream. We werent looking to get rich, just possibly run our little place, and give the kids an experience, and to live in paradise for a few years.
I love my 2win, in closed out beachies, haha.
I wish we were collecting some kind of retirement, I'd have a bigger stretch quiver, haha.
Yeah there is a ton red tape cut, permits, visa's, and all the rest. We live in the bay area and were thinking about selling one of our properties, and renting out the other one, to see if something like this was doable. So we starting looking at small hotels (6-8 rooms) on the southern nicoya peninsula, that you could live on site, and have a minimal staff. The little research I've started is already telling me this is a bad idea, but who knows. After speaking to some realtors the financing is basically all cash or at least 50% up front and possibly seller/fincancing, with high interest rates. Like you said as well, in a really competitive market. Then I just starting looking at overhead, utilities, and water tables in that area, its putting a sobering slap in the face on a fun little dream. We werent looking to get rich, just possibly run our little place, and give the kids an experience, and to live in paradise for a few years.
I love my 2win, in closed out beachies, haha.
Do not discouraged good for you going for it but also like I said do not put all your eggs in one basket, distrust all (if it sounds to good to be true ), and try to do all the work your wife and you can habdle accept hire local for construction and maintenance over your ability. May be good idea if you do not have experience in to take business classes in local community college for hotels and restaurant mgmt. Also make sure 100% legit people selling hotel want out only and did not burn to many bridges etc .....bigC7 said: