Should I bring my family and kids to Costa Rica?
Can I make a living or open a business in Costa Rica?
Can I make money renting my property in Costa Rica?
Tank Tops Flip Flops Newsletter edition no. 227
NEW! – I’ve just added the latest LISTING updates
Video 1: Should I bring my family and kids to Costa Rica?
“Should I bring my family to Costa Rica? Please consider bringing your family to Costa Rica; it’s the most amazing place to raise your kids. People often ask me, ‘What’s the coolest thing you’ve seen in 20 years?’ I tell them about the countless young families moving to Costa Rica. It’s incredible—hundreds of young families in their 20s and 30s with very young kids, many under 10 years old. We have five beautiful bilingual private schools where they’re enrolling their children. They’re choosing to raise their kids in a better environment, far from the issues plaguing schools back home in the United States. In my opinion, what’s happening in American schools is atrocious, and people are leaving in droves. They want their kids to experience more traditional values, like they did when they were young.
That’s why they bring them to Costa Rica. Costa Rica embraces family values, the same values we cherished growing up. So, if you have young kids, you should consider finding a way to live and work in Costa Rica, where you can enroll your children in schools in this beautiful country. Let them grow up in this amazing paradise instead of the rat race they call North America. Come down and check it out.”
Video 2: Can I make a living or open a business in Costa Rica?
“How can I make a living in Costa Rica? Many people are waking up and realizing, ‘Hey, I don’t need to be doing this stuff back in North America. I don’t need to be sitting in traffic. I don’t need to be dealing with the cold. I don’t need to be dealing with the politics and everything else that’s going on. I’m going to move to Costa Rica.’ There are so many opportunities down here for people who want to relocate to Costa Rica. First of all, in order to work legally in Costa Rica, a foreigner must become a resident. We will discuss that in some other blogs about how you can obtain your residency here in Costa Rica as a foreigner. You cannot just come and start working; it is illegal for you to work. You must be legally allowed to work. Once you obtain your residency, though, there are many opportunities. The majority of people moving here are starting businesses. We need so many different businesses here—things that you just take for granted are here, or so many things that you just take for granted we need here in Costa Rica. People are coming down every day, figuring out what is a niche where they can make a living, and they’re moving down here with their kids and families to start a business. We recently featured a family in our newsletter who came down and opened a rental business with their three kids. We have another couple that just moved down here and opened a high-end pizza place. People have come down to get involved in real estate, property management, building houses, buying sailboats and offering Sunset Tours, opening coffee shops, schools, and various other businesses. At the same time, they’re helping the community by employing Costa Ricans. It’s a win-win for everybody. Thank you.”
Video 3: Can I make money renting my property in Costa Rica?
“Can I make money on my rental property in Costa Rica? Well, that depends. Not all properties are good rentals, so if your goal is to maximize your ROI (Return on Investment), then it’s important that we look for a property that is going to be a good rental. Not all properties are good rentals. So, first off, it starts by finding the property that will be a good return for you and will make a good profit for you. Then, it’s important to find a good property manager. Not all property managers are good at renting properties; some of them are just good at maintaining your property. So, we want to make sure to find a top-of-the-line property manager that’s aggressive at handling the rentals.
Third, it depends on how much you use it. If you’re coming down and using your house or your condo in all the prime weeks, including Christmas and New Years and the whole high season, you’re not going to make a lot of money on your rental. But, again, who cares? Maybe that’s not what’s important to you. What we need to first determine is what’s most important to you. Is that being able to use your house or your condo and cover your costs? That’s what most people do. Most of my clients are not that concerned with making money on their rental property; they just don’t want to send money to Costa Rica. They want to be able to use it, enjoy it, and have enough rentals come through the door to cover all their costs, all their bills, all their taxes, all their repairs. That’s easy.
If you want to make money and get a return, well, then we have to look at how many weeks you’re going to be using that property. So, anywhere, I tell people on average, people can expect anywhere from a three to a seven percent return on their property after all expenses are paid. But, again, it depends on those factors. You’ve got to have the right property, you’ve got to have the right property manager, and it depends on how much you’re using the property.
Think of it this way: if you used your property eight weeks this year and that property usually rents for a thousand dollars a week, in theory, you made eight thousand more dollars that year because you chose to use it instead of receiving the money. Thank you.”