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Gorgeous Costa Rican land for your res or commercial, preferrably income property

I have some beautiful development land in the most beautiful part of Costa Rica, Osa, the southern zone. Below is the link to all the details and retail prices for the lots. I can also supply whole-sale prices for each project if you are interested. I can also provide information if you intend to build on the property. It would also be a great investment as the market is still hot down there.

I am looking to trade with preferrably an income property, either residential or commercial.
http://xerxesinfo.com/CostaRica/LandDetailsIndividualLots.htm

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Permalink Reply by luis correia on October 18, 2011 at 10:58am

I have 9 brand new apartments in Fuengirola, Costa del Sol, Spain. They are near the center and 5 blocks from the beach. An easy stroll to the Zoo, bullfighting ring, aquapark, multi cinema, as well as several large shopping centers. Also the Metro and bus stations are 7 blocks away.

The partments are 2 bed 2 bath, 72 sq m, the penthouses have nice views of Mijas and the mountains. There is a new 5 story elevator.

Each apartment has a mortgage of 115,000€ which costs 630€ per month and is valued at 40,000€ more. Some are rented now. They can be rented to tourists or long term.

You can contact me luis.infomail@gmail.com and I can send you some photos and more info. I could add cash to equalize the deal.

   I also have an 8 bedroom, 640 sq m house in Marbella, Spain with spa and gymnasium. You can see it on Google Earth. Just fill in "Luis house, Marbella, Spain" and you will fly right to it and there is a photo.It is valued at 1,500,000€.

   I also have this unit in the front line of Puerto Banus. It is 580 sq m with 8 bedrooms, 8 baths and can be residential or commercial. www.bacchusclub.info

My email is luis.infomail@gmail.com
Permalink Reply by Alex Binesh on October 18, 2011 at 11:53am

Hi Luis,

  Thank you for the info. I am mainly interested in clear properties specially since I don't have any experience in Spain. is your Marbella property clear? What would you plan to do with the CR properties?

Thanks, Alex

Permalink Reply by luis correia on October 18, 2011 at 12:00pm

NO, they all have some mortgage. are you interested in Venezuelan Government bonds due in 2026 at about 50% discount on the face value? They pay the interest annually.

luis.infomail@gmail.com

Permalink Reply by Alex Binesh on October 18, 2011 at 4:50pm

Hi Luis,

    I would not Fuengirola. About the other properties, how much are the mortgages on each, the rate, and who is the mortgage holder, Caja or Bank? Can you provide the exact addresses of each property as I have a friend who was in the Real Estate business there. Also do you have phone no I can call? Where are you located? Mine is 416-587-4126.

Thanks,Alex

Permalink Reply by luis correia on October 18, 2011 at 5:22pm

 

   My house has a very recent appraisal at 1,500,000€ and there is a mortgage of 115,000€ left on it. You can see it on Google Earth by entering 

" Calle de las Capuchinas, 29604, Marbella "  or

" Luis house, Marbella, Spain "

 on Google Earth. 

There is a photo of it there. 

It is 3 floors with a separate 90 sq m spa which has a gymnasium with conservatory, a large bar, jacuzzi for 6, sauna, big tv and sound system, and weight and aerobic machines.

   Total about 640 sq m. The house has 8 bedrooms, 6 baths, 3 salons (1 on each floor), 2 kitchens. It is about 20 years old. Has swimming pool and garage for 2 cars and parking for 4 more cars.

   There is a roof top terrace with a nice view over the golf course across the street and the sea and the mountains. There is an important tennis club 2 blocks away that hosts international events.

   There are 2 more Jacuzzis in the house as well as a large luxury Turkish steam bath and a small hair dressing shop. There is air conditioning and heat throughout, double glass thermo pane windows everywhere. It is a large house, there are 11 people living here now and we don't see each other much.

   This house is valued at 1,500,000€, although it was up to 2,000,000€ before the crisis.

   There is a 115,000€ mortgage left on it with Banco Atalntico Sabadell. Monthly payments 1,580€ per month plut 1,800€ per year Real Estate Tax and 850€ per year HOA.

 

 My other property is www.bacchusclub.info and I owe 3,750,000€ mortgage on it which could be wrapped around. It could be operated as a disco, bar, restaurant, shop, private club, most anything. It has some of the best views in Spain and was built for Adnan Khashoggi (the richest man in the world in the early 1980´s).

   I can also lease it out at 120,000€ per year which i will accept in trade.

   The mortgage costs 8,500€ per month and the Real Estate Taxes and trash are 5,000€ per year. It is now appraised for 4,500,000€ down from 6,000,000€ in 2009.

 

 

 

Permalink Reply by Alex Binesh on October 21, 2011 at 10:47am

Hi Luis,

   Thanks for the info. What is the monthly upkeep cost of the Marbella house (" Calle de las Capuchinas, 29604, Marbella ")?

   Also what is the rate on the Venezuelan bonds? Any more info on them? Are you American?

Thanks, Alex

Permalink Reply by luis correia on October 25, 2011 at 7:12pm

Hello Alex;

  If you want the Venezuelan Government Bonds the 2026 rate was set at 11.75% annually. They just came out a few days ago. Of course they were issued in Bolivares, hence the possible discount that I had mentioned.

I have some 3 year old Government bonds that belong to a Charitable Foundation in Venezuela that is destined to building subsidized housing for the poor. These are in USD and are due in 2028 paying 9.25% annually. No discount on the face value as they are in USD. They come in 50,000$ lots. They were placed by Deutschebank and the depository is JP Morgan Chase in New York.

   Actually I am Portuguese. So if you can aford to wait for your money until 2028 you can earn some nice interest on it in the meantime. Venezuela has been declared to be the largest petroleum reserves of OPEC, so the probability of it running out of money is unlikely.

   Of course, the political situation is a bit unstable.

Permalink Reply by Alex Binesh on October 31, 2011 at 3:19pm

Luis,

   Is this the exact address? Calle de las Capuchinas, 29604, Marbella

 

Thanks, Alex

Permalink Reply by luis correia on October 31, 2011 at 5:37pm

yes, and there is a photo there titled Luis House.

However, i am not willing to trade my house for raw land. And I have several offers from the Bahamas to Fiji, to Brazil, all beach front. Unless it is a tremendous deal, like you value your land at what you paid for it in cash.The other properties, yes, I will trade because it would relieve me of mortgages. 4 of my apartments in Fuengirola are now rented, so the loss from each is about 200€ per month now.

There is however, a fellow with apartments in Miami Beach that wants things in Costa Rica. I have spoken with him today.Maybe we can do a 3 way swap. Maybe you want mortgage free apartments in Miami Beach and the Bay Harbor islands? He says that he has them all rented.

   So if he took some of your lots, you could pay me a condo in Miami Beach or one of your lots for putting the deal together?

Permalink Reply by Alex Binesh on October 31, 2011 at 7:08pm

OK, well I guess you are not interested in the swap. If you are then give me the exact address. I could take over your mortgage and my properties I am offering are 30 mostly ocean view lots all subdivided so there is a lot of value there. I can trade with Florida or do a 3 way or give you a lot as commission. Let me know about the Fl deal.

Thanks,, Alex 

Permalink Reply by egyptarian on April 25, 2013 at 11:40pm

Hi Alex.  I am thinking you might the same person from Goswap site that I exchanged communications with on the trade of my vacation home in Houghton Lake, Michigan.  This home and property is paid off, zero owed.  If you are the same person, I think you had offered to cut me off a piece of land to match the worth of my property. I am still interested, if you would be willing to help me out with just a section of your land as I really would like to move out of the USA due to not wanting to raise my young daughter here in the states the way things are going in the school systems here.  Thank you for your time, have a great week. My Goswap link is below; Sincerely Tammy :)

 http://goswap.org/trade/index.php?option=com_cmsrealty&Itemid=1...

Permalink Reply by Alex Binesh on April 26, 2013 at 7:10am

Hi Tammy,

   Thanks for the message but I cannot open the link to your property. Please send me a link I can use.

Thanks, Alex

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