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New Construction

Lease / purchase

Phase 3: The construction of the remaining 11 residences.

Scheduled to begin in November with completion expected
by January 31.

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Progress Report

July 25-30, 2005 // CONSTRUCTION LOG #42

Contact phone numbers

Internet Phone:
New York 315-279-6711 // Toronto 416-907-5758

Costa Rica:
Cell 506-305-3965 // Land 506-282-4142 Ext. 101

NOTE: our land line in CR has changed;
we are now integrated into the compound network.


Pictures: the beginnings of 106 and pictures of the unsung heroes who make things happen here -whether it be the pure grunt work -and there's lots of it -the tile work, the cabinetry work, the doors, the granite, the electrical, the plumbing, drywall / stucco / painting, the welding... These are the people who deserve the credit. I'm sometimes not sure what I really contribute but I'm always sure what they contribute.

CONSTRUCTION

Permit: We have been told that we can expect an answer by Friday, August 12.

New Construction: On the triplex (114, 115, 116) we've restarted working on finishing the grey coat on the walls and around the windows and doors and metal framing for drywall. This work has continued and other minor work, eg. finishing of small roof sections and installation of decorative terrace fencing.

Unit 107: We are not going to have it completed by the end of July; it will be completed the end of next week. We have a number of finishing details yet to do including but not limited to the installation of the cabinetry and granite and plumbing fixtures; a thorough cleaning and then the final two coats of paint. We've been having trouble with Sherwin Williams paint people; they can't match one of their own colors I bought a year ago -Protecto people want to paint a house for us to show us how good their paint is; I'll let them do 107.

Unit 106: The septic system is installed including the leach line and absorption pit. The building has been laid out and final positioning has been done. We are waiting for the backhoe. Our normal person is busy and another guy we had lined up, said he blew his main hydraulic lines so has to repair everything before he's available.

Condominium Registration: We are proceeding with this. We have authorized the installation of a 167KVA transformer. We spent the better part of Wednesday determining the exact layout of the equipment and meters. The transformer installed and energized is a little over $16,000 and the secondary wiring less the labor component is about $23,000. I've committed to the purchase of it as the price is suppose to increase 5-7% August 1.

Marketing: This is really the story of the week although there is not a lot yet to show for it. I have been updating the website through my webmaster in Argentina and working with the telemarketing person in Florida to put his end of things together. We aren't 100% there yet but are very near it. After some more work over the weekend and testing at the beginning of the week, he should be ready to go. The end of next week should begin to see the results.

Comment: I find it absolutely amazing that a one horse circus can accomplish these things. Yes, technology certainly allows the little guy a lot of options and there are some people -and I've found two- whose reliability, dedication, and competence are going to make it happen. Someday, I might even meet them!

Closings: We should have two closing next week. We might have had an additional two closing but I had had a bad experience with the lawyer selected by the purchaser which I related to the purchaser; he's looking for a different lawyer. This will delay these closings a bit.

Next Project: I continue to be excited over the new piece of property I've located. However, the problem remains the same -it's a big piece and while we have been able to broad brush some ways to reduce the initial $ outlay, it is still substantial. I'm trying to cobble together a small group of like minded people. A purchaser of two units at Los Jardines has expressed interest in becoming involved in the next project. On Friday I received the shortest but most welcome response I think I've ever received to a request of interest: "yes". We'll see if a deal can be put together. there's a long way to go...

On Thursday, I found myself giddy thinking about all the possibilities that might result from the telemarketer in Florida (Jeff Mann) , the investment counselor and author of two books the most recent being "How to Buy Real Estate in Costa Rica Without Loosing Your Camisa" (Scott Oliver) who I've come to respect, the Tico / American lawyer (Roger Peterson) who wrote the book " Legal Guide to Costa Rica, Ed. 4 ", the webmasters in Argentina who provide such timely support, and Paul and myself, I felt we could be on the verge of putting together a really successful team.

My current thinking is that the target market would definitely include the Tico market as well as the expat market. While further study needs to be done, I think the price point would be in the $150,000 - $225,000 range, detached, 1,500- 2,200 sf, one and two story homes, 2 and three bedrooms, integrated parking for one and two cars. I would see us developing lots and selling them as well as building. The project would have building restrictions such that quality control, setback, coverage, height restrictions and visual consistency would be maintained.

OUR LIVES

Weather: It didn't rain much this week because we didn't do any backhoe work and we wouldn't have been able to play in the mud.

I've been working a lot of long hours getting ready for the marketing program. I can't say we've done much exciting or different . Terry is hosting a dinner tomorrow with the center piece being a whole piece of filet mingon -I'll be there!

Brian, Lita, Hugo and irreverent Vicka, the pigeon toed parrot.

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