- This topic has 1 reply, 24 voices, and was last updated 15 years, 8 months ago by
.
-
Posts
-
Scott said: Lastly, I do NOT personally sell real estate but certainly recommend people that do so nobody is giving me their life savings and as I have stated repeatedly, buyers need to do their own homework!
Sorry, I didn’t mean to suggest anyone was giving you their life savings, I was suggesting that they would be giving it to someone else based on your recommendation. I know you don’t sell real estate, however by your own admission, you are in the inner MOST circle it seems to me, you own real estate too so people need to be careful.
Scott said: “Lastly, I do NOT personally sell real estate”
You might not sell real estate, but you could be getting kick backs. Is your involvement with developers and realtors purely for charity and to add chapters to your book?
Scott said: “We have plenty of clients that do make real estate investments (multiple investments) based on my recommendation”
What is a client to you? Are these paying clients? In the above quote, can you tell us who “we” are? I thought this website was just “you.”
Scott said: “our VIP Members have purchased about 60 apartments in one project alone in Santa Ana through our Recommended Realtor”
When you said “through our Recommended Realtor” it begs a question. You recommended with absolutely no kick back at all? Zero? Just a matter of charity?
Scott said: “our VIP Members have purchased about 60 apartments in one project alone”
You are giving developers free leads? Very nice of you!!!! A lot nicer than many other people I might add. The realtor gets a 5 percent commission and Scott gets a thank you?
Scott said: “I do speak with dozens of Realtors on a weekly basis and have been a part of about 100 real estate transactions over the last 12-18 months”
I’m not sure how you have time to speak to so many realtors on a weekly basis, however when you say that you’ve “been a part of about 100 real transactions,” what does this mean? What is your “part?” Does the “part” you provide, provide you any income? To be honest, I wouldn’t be “part” of so much for nothing.
Scott said: “I know a lot more about them than just their Username so unless we already have an established, profitable relationship then you should do your own homework.”
Are you saying that you “profit” above? How do you profit?
To sum this up, I thought you were an operator of a website and an author of a book. Your words seem to suggest otherwise. I’ve not read too much on here lately (it has been a long time actually), but has your role changed?
Edited on Sep 01, 2008 18:38
All the VIP Members of our website already know quite a bit about me but pray tell!
Who exactly is the anonymous ‘Dockers?’
Are you a man or a woman?
Do you live here?
For how long?
What do you do here?
Are you retired?
A family man?
Are you one of many people who call themselves ‘developers’ who try to play games in my Discussion Forum because my articles have cost you sales? Who re-register with a different username? Perhaps one who has already been banned?Scott Oliver – Founder
WeLoveCostarica.comDon’t put all your eggs in one basket as they say…Owning Real Estate in Costa Rica may or may not turn out to be a good investment. Owning a condo at the beach in Costa Rica is a luxury and I wouldn’t bet the farm that it’s going to make you rich. I am a fly by the seat of your pants kind of person but that works for me. That does not work for most people I know, so buy that condo in CR if you can afford it and calculating whether or not you can afford it is easy…simple math or talk to a good financial planner. Scott and this website can not tell you if you can afford to buy a second home, but they provided you with sound information to put you in touch with trusted people, and that’s half the battle right there. I own some land in the central pacific and really could care less what the current state of the real estate market is in my area, the views the same, the closeness to the ocean is the same, the brilliant sunsets, flowers they are still there and that’s why I bought it.
I’ve been a Realtor in the Washington DC area for over 20 years and have been a VIP member for 3 or 4 years. I have bought 2 properties based on Scot’s website after searching for years on my own.
I’ve been in contact with him for years and personally met with him a few times and he has always been extremely honest and trustworthy. I have been very happy with Scot’s advise.
His recommended realtor (Mayra) has been an incredible helpful, She has referred my to an excellent attorney and accountant. Her help has been invaluable. Even after the sale was completed, including helping me furnish the property to helping me with the utilities and everything in between.I was very happy with the second recommended Realtor(David Treadway) as well.
I cannot say enough goods things about Scot and Mayra.
Feel free to contact me if you have any questions about my experiences with Scot or the recommended Realtors that I have dealt with. Jacquesba@aol.com
Let’s make this simple folks. The WORLD economy is slowing down (China/Middle East being the exceptions to some degree)…. Costa Rica real estate is SLOWING down… not down 50% as some might tell you. There are no doubt some properties here that have dropped BIGTIME… but they were over priced to start with and NEVER represented the REAL market and price of real estate here in Costa Rica. No doubt some folks engaged in their own little ponzi schemes and got caught short and have had to sell or walk away. Scott will defend the market… and should…. because for each opinion there is an opposing view. I read Garland’s article this morning. I usually find his views interesting and often on target. I do however feel (here’s my opinion) that his take on things on this topic are a bit over the top!
There is NO doubt the market has slowed here, no doubt that there has been a bit of a correction in REAL value. But just as with the stock market… it’s NORMAL and HEALTHY… no need to run off and panic. I for one am THRILLED with the investments I’ve made here. I looked at a LOT of over priced “challenged” offerings before making the investments I have. VALUE still can be found, GOOD investments are out there… don’t buy into the “Sky is falling” bull!
I’m not here to defend Scott or to tell someone else they’re wrong… as the saying goes… “Beauty is in the eye of the beholder”… Real estate as with ANY investment follows the same logic… if YOU see the beauty and the value… YOU are happy! Don’t buy into someone else’s dream or scheme… do your homework, be realistic, and make it happen!
Edited on Sep 01, 2008 21:16
It actually doesn’t matter who I am, because all of my question were valid. I’ve never been ban from this website. I have absolutely nothing against you “except” that I believe you are promoting real estate in decline.
You constantly tell us that you don’t sell real estate, however you are very involved as you, yourself, have let us know. You actually seem more like a real estate broker. This website and your book provides you the ability to obtain a lot of leads that as a real estate agent, you would not be able to handle, however as a broker you would. I’m wondering, are you working for charity or cash, because that makes a huge difference as to whether you are biased and to what degree. If you are working for cash, you may as well say that you are selling real estate at least indirectly. I think it is disingenuous and misleading to have as a cover “I don’t sell real estate” if, in fact, you are getting kick backs from the leads that you provide to realtors and developers.
I noticed that you prefer not to answer the questions I posed, but would rather deflect to “who is dockers?”
Who am I? Okay, even though I don’t think this is important. I live in San Francisco, California and I’ve been to Costa Rica 4 times. I am married and have 2 kids. I have no websites. I do not know any developers in Costa Rica, however while there we did walked into a few sales offices to scope things out. I have always looked deeply at any source of advice and what the source has to gain from such advice. “Dockers” and the headquarters of Levi Strauss is in SF.
I honestly don’t see why who I am matters if my questions are valid. How could my questions not be valid when they are directly based on your own words.
Please, don’t deflect, just let us know to what degree are you involved.
Edited on Sep 01, 2008 21:54
Edited on Sep 02, 2008 01:11
Lotus, you make a point without really saying it directly. I can’t tell if you bought land or a house and land, but it sounds like you bought a home or a place where you plan to build a home. I never buy a “home” while thinking I’m going to sell it for a profit in however many years – I buy a home to live in it until I want another home to actually live in.
Buying an “investment” property is a lot different. It is mostly about profit so it is important to buy low. As an investors, I would not be buying now. I would wait at least another year for attitudes to change and for some developers to go bust. If developers don’t go bust, fine, I can still buy for less in a year. By the way, I’m not any investor. I have no idea why anyone would want to “invest” in Costa Rica real estate so far from home. There are always enough opportunities at home without the hassles associated with a foreign country, plus, the more you own, the more it owns you! There are better ways to “invest.” If I bought real estate abroad, I’d be buying a home.
I know that condo project in Santa Ana. Prices went up, that’s true. But try to sell your apartment now for those increased prices: IMPOSSIBLE ! Nobody wants it !
I think that mr. Garland Baker is exaggerating a little bit, but mr. Scott Oliver does the same thing. Both don’t show the objective proofs like data about sales prices.
Just a few projects, whether it’s in the Central Valley or in the Pacific Coast, can not prove who is right and who is wrong.
But we see world-wide financial crisis, and Costa Rica can not escape from that.
Please feel free to point out my exaggerations sumaSAL.
I am not afraid of the truth, of publicly declaring that an investment has lost value – I have dealt with investments professionally my entire working life and have had those conversations and would have no qualms about publicly announcing that the real estate market is down by 50% if it was the truth but, it is not.
Should that time come, I will publicly announce it with accompanying facts and figures from Realtors to back it up….
In August 2008 – Yes! A few weeks ago – I sold a Santa Ana home after owning it for exactly 15 months for 30% more than I paid for it after all costs, in a real estate market that Garland Baker tells me is down 50%…
You can see the home at [ https://www.welovecostarica.com/public/1682.cfm ]
Still “have no idea why anyone would want to “invest” in Costa Rica real estate” Dockers?
Scott Oliver – Founder
WeLoveCostaRica.comPS. Note to ‘Dockers’ – If you don’t believe me, please feel free to pay attorney Jose Rafael Fernandez for an hour of his time and I will authorize him to share the closing details with you…
30% looks a lot but worldwide the dollar lost value and (official) inflation in Costa Rica is more then 1% per month.
By the way: nice house in Puerta de Hierro but far overpriced. Good deal for you, Scott.
Scott, I still have no idea why anyone would want to invest in real estate in CR. I had a rental once in another state and never ever again will I own a property far away.
There are plenty of opportunities in the local market to invest. I gave up on investing in property and resorted to ETFs. I don’t want my cash tied up for so long either.
I tend to agree that the house you have just shown on the link is way (almost insanely) overpriced. Saratica, recently posted on her blog and made excellent estimates on how to value an investment property. I am not going to argue if prices have dropped 50% or not, or as you have said even appreciated. All I can say is, as an investment, the buyers have left their common sense back in the USA.
Here’s saratica’s blog http://www.abroadincostarica.com (It’s not a business or real estate site, just a family’s experiences after moving here to CR).
When you invest in paper (stocks and bonds, you have the option of holding or trading quickly for cash regardless of the liquidity of the market. Real estate investments in general only offer that option when the market is liquid. (Is there a way to go “short” with real estate?) I don’t know. I assume real estate investors must have fallow periods of some duration. The question here is whether or not Costa Rica is entering a fallow period, a downturn. My sense is that it must do so sooner or later since the world economy seems to be headed in the same direction as the U.S.. Diversification is always a good idea. Have some real estate and some paper.
Edited on Sep 03, 2008 03:54
According the pricing that we see on a daily basis, your opinion is that it’s “far overpriced” is simply wrong in this case, at $1,383 per square meter this is NOT an overpriced home for this area. There are not many luxury homes of this kind available in well managed gated communities.
Little supply (of good ‘executive’ type homes) and good demand for those homes…
This is not in the middle of some rural area, this is phenomenal location literally three minutes from two of the largest executive business centres in Costa Rica and you can find numerous homes that will cost more per square meter.
And explain to me ‘how’ far overpriced could it have been if someone just purchased it? We asked for a certain price and after a little negotiation, the buyer agreed to our terms – isn’t that what capitalism is all about?
Surely we could only call “far overpriced” if nobody wanted to buy it at that price? Because we know that the buyers OBVIOUSLY didn’t feel it was overpriced.
And by the way the family that purchased the home are from Venezuela, they are not from the USA. There are other buyers in this country.
Scott Oliver – Founder
WeLoveCostaRica.comI don’t know about housing decline or not. I do know that this site has been great direction for me in CR. It does not have all the answers; When I write the professionals who have authored pieces, they actually write back. If they don’t know they will say something incredible, “I don’t know but try….”
Scott writes back through email or on the blog. Where else can you get free advice like that.
I have had many questions that do not pretain to buying real estate at all. I have bothered Scott with many general questions that clearly he did not make a dime off of answering but he did. The writers here have been terrific too. They offer non-biased professionalism and no one has asked me to be their “client” for whatever.
So thanks Scott.
- You must be logged in to reply to this topic.
