Costa Rica -Hooked on Financing

ISSUE #721: July 29 – Aug. 4, 2018


Brian Timmons, Newsletter Author
Brian Timmons

Dear friends,

When I started Residencias Los Jardines, I started writing a weekly newsletter -determined to tell all the good, bad, and the ugly. I knew some readers would be interested in the construction process. I expected others might be interested in the lifestyle of two people who had decided to live outside the box. For others, the adventures of Lita, the parrot and the cat took on an entertainment saga all its own.

Residencias Los Jardines is finished. We periodically have re-sales and rental availability. Some readers may be interested in this information.

Brian Timmons
Developer / Property manager
Residencias Los Jardines


rentals & sales

Paradisus Condos / Rohrmoser
Visit our website

Paradisus Condos - click to visit

Each of the units consists of two bedrooms / two bathrooms, and a large living/dining/kitchen area. The floor plan of each of these units has eliminated the optional "den / office" divider. The result is a larger area offering more flexible furniture arrangements while still maintaining the option of including an office area. At 105m2 plus two parking spots each and storage locker, they offer a great opportunity for someone seeking views, security, central location, and first class, all round living...

Semi furnished unit: For sale: $235,000
Fully furnished unit: For sale: $245,000
Floor 12 -west view

Distrito Cuatro / Guachipelín / Escazú
Price reduced: $ 125,000 to $ 99,000

about Distrito Cuatro

Rendering proposed
Distrito Cuatro - click to Download full PDF

Real de Santa María / Borreal de Heredia
$ 185,000
Private financing available

See location on Google Maps

Real de Santa María / Borreal de Heredia

Download more pictures (8.35 Mb)

Hyundai Santa Fe 2008
$13,500 $11,000

Hyundai Santa Fe 2008, Turbo Diesel, automatic, excellent family vehicle, safe, comfortable, interior with leather seats. Good tires, engine, turbo, suspension, and AC. Marchamo 2018 and Retive. It now has been road tested for 5 weeks and performed flawlessly. I can now sell with confidence...

  • 5-door / 5 passenger
  • Power steering, windows, mirrors, brakes and locks
  • A/C front and rear
  • Cruise control
  • audio/radio control
  • Air bags - driver / pass
  • Security system
  • Fog lamps
  • Tinted windows
  • Roof rack
  • CD player / radio USB/AUX
  • Hydraulic lift
  • Leather seats
Market activity
sales & rentals

Sales: Los Jardines: Units #114 and #124


Paradisus: Nothing available

Los Jardines: Nothing available

Residencias Los Jardines
property management, rentals & re-sales

Unit #114: $ 199,000 / See Unit
Unit #124: $ 135,000 / See Unit

For sale

UNIT #114
$ 199,000

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 2 bedroom/2bathroom,1,290 sf single floor end unit home includes a 150 sf front terrace plus parking for one car. This house is fully air conditioned and has recently been professionally decorated by international decorator Alcides Graffe and has undergone a complete renovation—new modern furniture, finishings, window coverings, and art work by Carlos Gambino. It is arguably the nicest furnished unit at Residencias Los Jardines and only steps from the pool

UNIT #124
$ 135,000

Total Area (Sq Ft): 662
Total area (Sq M): 61
Bedrooms: 1
Bathrooms: 1
Floor(s): 2nd Floor
Type: Semi-Detached
Furnished: Yes

This 662 sf, + covered parking for one car, is a one bedroom home on the 2nd floor overlooking the large pool. It is ideal for a single person or couple.

Our Lives

Weather: Normal rainy season weather... wonderful...

What Happened This Week:

CR -A Country Hooked on Financing: I have either shown or sent information to about twenty people inquiring about Distrito Cuatro. That is the good news; the reality is that none have any money -they don't even have ANY down payment. If I give them 100% financing they might????? That was the offer of a person who had cancelled to appointments and at the third showed up in a new (?) 350 SLK Mercedes... No money, no imagination, no ambition... Saturday I have another 4 showings... the info I send shows the condition and says I will finance it provided I have a sufficient down payment. I have received half-hearted low ball offers... not because the value isn't there, simply because they didn't have any money and really didn't know what to do with the property.

Bottom line: I am now beginning to investigate renovating it myself. This is not what I want to do but I am not being successful with my the strategy I a using so maybe I have to change. Those viewing it want to use it as a simple little house in a great location -so that is what it will become. For about $10-$12,000 and a month's work, I can do this. Then I will still have people with no money but imagination and ambition will not be part of the equation.


Santa Fe: Two calls... no follow up...

Rentals: One of the recently leased units -106C- will be coming back on the market -Sept sometime... the person can't adapt to CR... he didn't do his research and is not cut out for the frustrations here... he now knows it.

Heredia House: Looking good / looking lonely -no calls.

Residencias Los Jardines: Our general shareholder meeting is a week from today... Aug 11. There are a lot of issues; the meeting will be long and complex I expect. As usual, there are competing views of our future and how to get there. I am clear in my view and now that I see an opportunity to do what I consider the right thing, I am going to be a strong advocate. I don't expect to win any friends and actually I don't really care... I have tried alternatives way and all sucked in my opinion. We have an opportunity to turn around the direction we have been going inand work ourselves back to where we should be... in my opinion...

There is and will continue to be a lot of criticism of our current President and Property Manager. I was in this situation before and thought perhaps it was me and my mgt style / vision. When someone said they wanted my job, I stepped aside. Since then, we have gone through several people as Property Managers and as Board members and even tried one outside management company. All have been criticized. In talking with other condos, this in-fighting seems to be endemic of condo organizations. I certainly do not want to pull the sled anymore but I am ready, willing and able to help given my assessment of a good team... and quite frankly, this time I don't give a shit about encountering criticism. I predict it will be a tough week... we'll see what happens.

Wine Club: It was a success... good food, good service, 35 attendees, and we made more money than any previous event... the "profit" is rolled forward to subsidize our Christmas event.

Remember I am supposedly retired and am trying to sell a mistake in a foreign land, different culture, and different language:

Saturday... starts at 4:30 am... coffee for sure
I write the news letter and exercise
10:00 my first meeting is with a goes as planned and scheduled
10:15. Second meeting -need repair a sofa which, although new, is not wearing well... goes as planned and scheduled -American 11:00. 3rd meeting... agent shows up on time... client shows up at 11:40...
12:00. 4th meeting... they show up on time -the agent did not explain that the house is not livable as is... they are not interested... they need a house now...
12:30. apt... cancelled
1:00. apt to remove the abandoned car on the street in front of D-4... the towe truck does not show up
2:30. Off to that apt across town to speak with two people who saw D-4 and want to talk... almost at the designated meeting point -text --sorry need to change time to 2:30... sieey I cannot do that because I have to return across town to D-4 for a 3:30 showing Text saying they can meet me at 3:00 at D-4... it happens... they make me an offer... I work it up... finished by saying let's both sleep on it... call me tomorrow (Sunday) around 5
3:30. I meet the client at Starbucks -I did not get arrested- he only speaks Spanish... we struggle but he gets most of it... the location is perfect for his elderly lawyer father... he throws out a number... I like it but don't jump and said let's think about it... talk with your wife who speaks English... we part -she phoned later to confirm we are in touch... I explain that they  have until 5 Sunday to make an offer because that is when I expect to hear from couple #1
Regardless of which offer -assuming two offers are on the table- I am looking at a loss... but that is the way deals go some times... it is time to suck it in snd move on
5:00. I quit... time for a drink and the hammock

We will see what happens tomorrow...
Remember I am retired... I really haven't gotten "retirement" correct.

News Items of the Week


Economy: CR has carved out a niche in medical devices. Lots of international companies have located here making / assembling a variety of devices which are exported world wide. While USA and Europe are the main markets, it appears other markets are developing. Agriculture is still slightly larger in terms of export sales, medical devices is growing much faster and will probably overtake coffee / bananas and pineapples very soon.

Costa Rica Increases Exports of Medical Devices to Asia, Europe and the United States

During this year’s first semester, the exports of the medical devices industry increased its presence in Japan, Netherlands and the United States. This behavior is shown on recent results published by the Costa Rican Foreign Trade Promotion Agency (PROCOMER).

The medical devices exports to Japan increased 82%, followed by Netherlands with 53% and the United States with 4%. The total exports of this sector represented 27% of all the goods exported by Costa Rica, locating it in second place, since the agricultural sector represented 28%. The Life Sciences sector exports increased 13% compared to last year, which represents $181 million more.

The total value of the medical devices exports was $1,532 million. This increase makes this sector one of the main goods that boost the country’s economy.

“Costa Rica’s medical devices industry is one of the sectors that experimented a constant growth, even after the 2008 recession. This is due to, mainly, Costa Rica’s human talent and the country’s reputation, making it into an ideal provider to the world. This success goes hand to hand with an ecosystem of providers, academia and institutional aid that make the country a magnet for more companies to establish in Costa Rica”, said Jorge Sequeira, Managing Director of the Costa Rican Investment Promotion Agency (CINDE).

The medical devices exports have grown three times compared to 2007, which turn Costa Rica into Latin America’s second biggest exporter within the industry.

According to CINDE, part of the medical devices exported by Costa Rica are: medical instruments, disposables, therapeutic devices and diagnostic equipment.

The Life Sciences sector has grown noticeably: last year it had 72 companies in the country compared to 8 in 2000.


Brian C. Timmons
Property Manager RLJ and Newsletter Author

Costa Rica:
Cell: (+506) 8-455-59-35
Land line: (+506) 2282-4142 Ext. 101

VOIP: (+416) 461-2203


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