Costa Rica Ocean View Income Property
Purchase Price of Just the House on Lot #8 $249,000 (Insurance company requires this home to be insured for minimum of $250,000).
20 year Owner Financing at 7% with 20% down.
The current mortgage rates in Costa Rica are 10-12%.
Lots 9, 10, 11 and 12 are all for sale at $39,000 each. This is a good price, as I hold the mortgage on a lot adjacent to my Lot 12 that sold for $50,000 five years ago.
The Entire Property is:
A Pacific Ocean View home on Lot 8, plus 4 ocean view lots 9, 10, 11 &12, and incoming mortgage of $359/month for 14 more years that covers 100% of all ownership expenses. Turn-Key Managed.
Gorgeous Sunsets. 20 miles from site of new Regional Airport in Orotina, the Pacific Coast in this area is a hot spot for development!
Large, open 2BR/2BA Home with pool and 2-car Garage on Lot 8 = $249,000
Lots 9 and 10 are $39,000 each (unobstructed ocean view)
Lots 11 and 12 are $39,000 each (across the street from home, and also unobstructed ocean view)
Incoming Mortgage is worth $60,000 over 14 years at 7% interest. Pays $359/month to attorney who turn-key manages everything!
The incoming mortgage of $359/month for 14 years covers 100% of the ownership costs. Total taxes were only $310 last year, water and electric about $300/year, dues $500, gardener/grass/pool guy $1,800, turn-key management/payment of all bills by attorney is $1,380. 100% covered by the income.
Total package is worth $465,000, but will accept $350,000 cash and pay all transfer fees. OR....
Owner Financing Is Available.