Invest Money in Costa Rica Real Estate Using your IRA or 401K

Written by Michael Simons on . Posted in Buying and Selling Property in Costa Rica, FAQ's, Investing in Costa Rica

IRA or 401K to Invest in Costa Rica

Did you know you can invest money in Costa Rica real estate using your IRA or 401K?

With the stock market at an all time high, and the uncertainty of it’s stability, many people are looking to diversify their portfolio and invest in Hard Assets outside the USA. What better place than paradise?  What your financial adviser or planner may not divulge to you is that you can utilize your IRA/401k/Retirement funds to invest in real estate in Costa Rica.  Why is this?

Invest money in Costa Rica with this oceanview home

The financial services industry in its current state is not given the incentive to offer real estate investment opportunities.  However, there is a growing demand for these alternative investments and millions of Americans have become disenchanted with the returns in their current portfolios.  With these growing economic concerns, we have a solution that will allow you to avoid stock market risk and invest in hard assets, such as real estate and other real estate based assets, here in Latin America. 

Currently there is over $15 Trillion in IRA’s and 401ks in the USA.  With the National Debt at record highs, I think in the near future the government will force these IRA’s to invest in US treasuries and bonds to help pay off this debt, whether you like it or not.  I think it is imperative that every individual moves a percentage of their net worth out of their home country and into safe foreign investments like real estate in Costa Rica. 

Many of my clients have used a Self Directed IRA to invest money in Costa Rica property.  There are many companies that can assist you with a Self Directed IRA. Ask your financial advisors.  If you would like, we can introduce you to some who have helped many of our previous clients obtain a little piece of paradise.

The process is simple.

You will contact the IRA company that you choose, and they will start the paperwork for the SELF DIRECTED IRA.  You will open a USA LLC under the name of the IRA.  Once the LLC is formed, it only takes a couple weeks in the USA, you will open a bank account under that LLC name.  Then the IRA company will take the money from your 401k or wherever it is, and move it to their IRA company account.  They will then turn around and fund it to your LLC bank account.  You will then wire the money to the Costa Rican Escrow company and you will close on the property.

What’s the cost of building a house in Costa Rica? How long does it take?

Written by Michael Simons on . Posted in Building in Costa Rica, Buying and Selling Property in Costa Rica, Costa Rica Service Providers, FAQ's

What’s the cost of building a house in Costa Rica? How long does it take?

Casa La Terraza Cacique 1

You read a lot of different information on the internet about construction costs and timelines. You also, unfortunately, read about a lot of “horror stories” of people who had tremendous issues getting their home completed. Fortunately, we don’t really have that problem anymore here in Papagayo Costa Rica. One of the best things that happened, in the 2009 Economic Crash, was that it was a big FLUSH, and most of the fly by night / crooked builders went out of business and left. The remaining contractors, many of whom are featured here on my website, not only survived those down times, but actually grew stronger because of it. I tell everyone, that anyone who could have survived those first few years, in any business whatsoever, is obviously doing something correct. So whether it is real estate agents or builders, hotels or restaurants, if they were here before 2008 and are still here today, they are probably pretty good at what they do. Also, the Papagayo area is booming. We have a LOT of construction going on. So obviously, the best builders in the country are going to come here, because there is business here. A good builder is in business to MAKE MONEY. You can’t earn an income building 1 house a year. So you are going to have a much harder time finding a quality builder in the more remote areas of Costa Rica, as only part time builders will live there. The top dogs are going to be here, where thousands of homes are going to be built over the next 10 years. Also, the most skilled workers are going to be here too, where they can have a consistent income laying tile, pouring concrete or doing cabinet work. In the more remote areas, you are going to be stuck with the least competent workers.

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