Making New Friends in Costa Rica

We are currently halfway through the due diligence process for our Santa Eulalia property, and things are progressing smoothly.

I flew out last week to look at a few different options.

Our team has spent multiple weeks now looking at many different options for potential properties. This research has validated our choice of Santa Eulalia as a great choice for our next residential subdivision

When you combine location, elevation, views, & price, we feel like we’re in a good spot with this particular property.

The remaining due diligence will primarily concentrate on identifying and addressing any significant issues associated with the property.

Currently, we are actively resolving some technical issues:

1. There are a few springs on the property that were not initially disclosed.

One, in particular, is situated closer to the entrance, posing a challenge for maneuvering around it. We are restricted from placing anything, including a road, within a 100-meter radius of this spring. 

2. There is a fault line that runs through the property.

This is very typical in CR and will require that we build any structures within that range to a different standard.

3. We don’t technically own the property that borders the River.

This requires that we get a utility easement to the river for water drainage. Fortunately, we have already worked this out and now just need to finalize it in writing.

I believe the likelihood of closing on this property is getting fairly high.

Partnerships

We have been eager to establish numerous new relationships in Costa Rica. To realize our highest potential, partnering with developers experienced in the country is essential.

For this reason, the majority of my time on recent trips has been spent meeting with people who are already doing projects in CR.

I had the pleasure of spending last weekend with a company that will remain unnamed for the time being.

I believe that this past weekend marked the start of a relationship that will grow over many years, potentially decades.

Assuming our initial collaborations go as planned and we have a positive experience on these first few projects, I see some really cool opportunities in the future.