Disciplined & Patient Real Estate Investors - The richest ones...
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Disciplined & Patient Real Estate Investors - The richest ones...
Scott Oliver - July 2008
It's easy to sit back and wallow in the miserable bloody negativity that pervades the newspapers and that ultimate but intellectually cancerous influencer, the television.
"Hey! I saw it on the TV, it must be true." Duh! It's what they don't show you on TV that's more important. There are indeed certain aspects of our lives that you and I can control and others that we can not ... You and I can not do much about the rising price of oil but so what? Few people can. It takes real patience, discipline and effort to get off your posterior, to look for and find real facts and news, to read between the lines, to create a strategy for your lives or to isolate an investment opportunity that's appropriate for you and to then take action.
We all know that patient, disciplined investors are the ones that make the real money, right? But these people are in the minority, the majority sit back, wallow and follow what some infantile cretin in a fancy dress costume on the 'Mad Money' TV show encourages them to do. Then they act surprised when they lose most of their money following that 'mad' advice. It's not much different here... I get emails every week from VIP Members who are sick and tired of the constant negative, sensational headlines that come out of all of the English language news sources in Costa Rica.
For the most part these articles are written by young people earning far less than US$1,000 per month, so little that they never have, and cannot now afford to buy their own home never mind investing in real estate so how expert and experienced are their opinions? And if they have no experience then why bother even reading their articles? If you own your own home, you already have more experience than them... So they interview a Realtor selling Costa Rica real estate who has only ever focused on finding clients from the US. And yes! That Realtor is probably going a bit hungry right now but so what? Does that actually say anything substantial about the Costa Rica real estate market? Or does it say more about the Realtor?
If any Realtor is stupid enough not to diversify his client base and focus all his time and energy in selling real estate in one country to people from only one other country then obviously he is going to suffer if buyers from that one country believe - rightly or wrongly - that they are going through a tough time. So please make sure you get your local, international news and construction data from reliable sources and not disgruntled and unsuccessful real estate salespersons... As you will clearly see from the new chart from a very reliable source - the Costa Rica Chamber of Construction - although construction has slowed in Guanacaste & Puntarenas, construction in San Jose is up 42.3%, up 31.1% in Alajuela and up 30.1% in Cartago for the first six months of 2008 in comparison with the first six months of 2007. Construction in and near San Jose, Costa Rica is booming, that's substantial and verifiable news from a very reputable source!
So this is one thing you won't be able to ask me in a few years: "But Scott why didn't you tell me that real estate was booming in your area?" PS. I'm so negative on Costa Rica real estate (:-) that I have just finished developing a whole new Spanish website for luxury real estate in Costa Rica at CasaDeLujo.com Written by Scott Oliver, author of How To Buy Costa Rica Real Estate Without Losing Your Camisa and Costa Rica's Guide To Making Money Offshore.
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