Saturday, October 16, 2021
Dear Your Overseas Dream Home Reader,
At the end of this month, I’m catching a plane to Costa Rica…
It’s a place that I love and return to every year.
Its natural beauty is unparalleled. A place where lush jungle overflows with wildlife…vast Pacific beaches fringed by swaying palms go practically undiscovered…and emerald-green mountains rise into dense cloud forests…
I feel at peace and healthier every time I visit, thanks to the fresh air, the fresh food, and the active outdoor lifestyle.
But on this occasion I won’t have much downtime. I’m going because Costa Rica has proven to be one of the most profitable destinations on my international real estate beat…and a place where members of my Real Estate Trend Alert group have done incredibly well by buying ahead of a Path of Progress.
My goal is to find the next opportunity and a new chance to profit in paradise…
Ahead of my trip, I sat down with my colleagues Margaret Summerfield and Jason Holland to discuss all that Costa Rica offers. Margaret first scouted the country well over a decade ago, while Jason went there first on his honeymoon but loved it so much that he went back to live there with his family for four years.
In our Zoom conversation, they each reveal their favorite place in Costa Rica, and we discuss the most fertile hunting ground for real estate deals…including a place where RETA members have seen as much as 60% discounts on ocean view lots.
You can tune in to our conversation right here:
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As you will see, we don’t all agree on the best hotel in Costa Rica, but we do all agree on where we’d like to live there, and where the best deals are right now.
Has Porto’s Gentrification Story Played Out?
Though I’m thinking ahead to all things Latin America as I plan my travel for the next few months, I’m still in Portugal right now.
Last week, I spent a few days in the country’s second city of Porto. It’s a city I really like…it’s laidback, very walkable so its easy to get around, and there’s lots of good food on offer.
When I last visited about two years ago, there was a lot of restoration going on…and plenty of small, short-term rentals available. At the time, I was on the hunt for larger buildings, ones that could cater to big groups—families, groups of friends on a weekend break—that you could subdivide into smaller units and restore and rent out to those groups.
I felt this was a strong play and so was back to see if it was still a viable opportunity…or if it was already too late to get in on this play.
You can read my full report from Porto here…and also find out what I found when I looked beyond the city’s historic center.
Living an International Life…Why I do it
While I was in Porto, I also did a bit of sight-seeing. My parents were over from Ireland for a visit so we took a cruise up the Duoro River.
It was absolutely beautiful. A picturesque river valley covered in terraces of olives trees and grape vines, with dramatic cliffs, lush hillsides, medieval walled villages along the way.
Have a look at this video I shot:
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We stopped off at villages where you can buy small homes to renovate for well under €100,000, and even grand old homes that need work for under €200,000.
As someone who lives an international life, I pretty much get to go wherever I want. When I want…like taking a river cruise in Portugal! It’s the ultimate freedom, really…being able to choose where you spend your time.
But living this kind of life also has other benefits.
And when you look beyond your home borders, there are so many opportunities…for profit…for adventure…for living the life you want to live.
Earlier this week, I shared with you my top three reasons for living this internationalized lifestyle. If you missed that, you can catch up here.
Wishing you good real estate investing,
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Ronan McMahon, Real Estate Trend Alert
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Your Comments and QuestionsLisa says: I’d love to hear about what’s happening in Spain. Are there still good investments to be had there? Where? Is the supply and demand of rental properties suitably aligned? I’m looking for a European home base and really like Spain. Ronan says: Hi Lisa. I like Spain too. That’s why I’m already making plans with my team for “Operation Spain,” another mammoth national scouting trip. We’ve no set dates yet, but it’s certainly a high priority. In terms of investment, the Costa del Sol is where you’ll find the best opportunities. It’s a hugely popular tourist destination. And right now, because of Brexit, a large number of British expats are selling their second homes here. I suspect there will be strong deals to be had. Lynne says: I would definitely like to see some info about property in Croatia, Montenegro, Macedonia, and Albania. Having spent some time in the first two, I could happily spend a lot more. Stunning islands with beautiful beaches and stone houses, friendly people, great food, and what seems to be a reasonable cost of living. Macedonia and Albania are my plan for next trip, along with Slovenia, once we can finally travel safely again. Ronan says: Hi Lynne, my scout Paul landed in Croatia at the end of last week. He took a five-hour bus from Venice (his ferry was canceled) and his plan is to slow travel right down the Adriatic coast. I’ll be bringing you his periodic reports as they come in. Stay tuned.
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