Networking with Agents

I participated in four residential developments in Utah. Initially, I was an employee under my father during the first two, and I served as the General Partner for the latter two.

In all four of those projects, there was one potential way to significantly increase profits: a zoning change.

The development process in Davis County, Utah, was dictated by zoning regulations, which determined the possible outcomes for any property. This often stifled creativity as there was little incentive to go above and beyond within a development.

One aspect that drew me to Costa Rica was the opportunity to create something truly unique and be financially rewarded for it.

Within walking distance of my Playa Negra property are homes that range from $200,000 to over $2,000,000.

The differences in customer demographics, topography, location, and zoning flexibility present many potential outcomes. This prospect is highly motivating because I believe that exceptional efforts can lead to substantial monetary rewards, rather than just internal satisfaction.

For instance, in our last project in Utah, the sales price was capped at $650,000, regardless of any efforts made to the property. Conversely, for our homes in Playa Negra, we are targeting a sales price of $750,000, with the potential to sell for up to $900,000 if executed to the highest standard.

That potential upside makes a huge difference in the monetary outcome for us involved in the project. The downside, of course, is that the market is much less liquid, so there is more risk.

We are confident that our efforts can overcome this barrier.

In Costa Rica, identifying a good property deal over the internet is nearly impossible due to the vast variations between different locations, leaving many buyers somewhat uncertain in their decision-making process.

Our current marketing strategy involves maintaining open communication with major brokers along the coast in Guanacaste. We believe that agents have a significant influence on buyers' decisions. While we are confident in our ability to create an exceptional development, we want to ensure that these agents are aware of our project.

We plan to have our project at the forefront of every major agent's mind in Costa Rica as they interact with potential customers seeking their dream home along the coast.