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[Smiling JOe]

On a much smaller scale. There are some great international markets out there right now that I'm learning as much as I can about. I plan on making some visits in the next month or two. Costa Rica is another great one.

If you like Costa Rica, check out Panama, which is just as beautiful, but half the price.

 

[Spencer]

I agree, Panama is beautiful, but it doesn't have the Americans flocking to it like Costa Rica. I look at Costa Rica as a 3-5 yr investment and the returns will be astronomical.

 

[Smiling JOe]

I agree, Panama is beautiful, but it doesn't have the Americans flocking to it like Costa Rica. I look at Costa Rica as a 3-5 yr investment and the returns will be astronomical.

...and there in lies the beauty.;-)

 

[Spencer]

Not on an investment standpoint.

 

[Smiling JOe]

Not on an investment standpoint.

Americans are going there. Don't you read the travel magazines? There are plenty of investors and developers from SoWal buying Panama as I type. A group I work with go down once a month and take small groups of investors with them.

 

[Spencer]

Well, maybe I'll take a look at it. I, for one, believe that Costa Rica is a VERY profitable market right now. That is what i'm concentrating on.

 

[Smiling JOe]

Well, maybe I'll take a look at it. I, for one, believe that Costa Rica is a VERY profitable market right now. That is what i'm concentrating on.

Start with Bocas del Toro. It is somewhat like the Grayton Beach of Panama -- very laid back, but plenty to do in the nearby big cities. Also check out Red Frog Beach.

 

[Cork On the Ocean]

Good GOD, Cork! If my math is right that's $5.4 billion!

The market cap. of JOE is $5.3 billion. Is this money that's allocated to the panhandle or the whole state?

You got that right SC and there are 2 different groups of them. I have had contact from international buyers in the past but never on this scale. They know what's happening here. They know that people with existing properties are dropping like crazy and are better buys than new construction. They also know that construction costs are so high that the developers are having a hard time building for the same price (let alone make a profit). They also know that some developers have a boatload already invested into a development order and they can't reach their presales while interest rates are rising which will cost them even more. They also know that some developers have closed phase one with promises of amenities etc and they can't sell phase II to complete the project and there's gonna be a lot of angry people and potential litigation.

These guys know our market better than we do and that's why they have this kind of money. Each one has different criteria of what they want but one is looking for assorted packages of properties with immediate income potential or large bayfront or gulffront parcels. The other is looking to help a developer in trouble with complete confidentiality. They don't want to take their project away and they don't want somebody who isnt committed to completing their project. They want to help the developer meet their presales now and complete the project. They're very creative but they only want precons. It's clearly a buyer's market and the one's that make the most in this game are buying big time. Hope I can find what they want.

 

[SHELLY]

Well, maybe I'll take a look at it. I, for one, believe that Costa Rica is a VERY profitable market right now. That is what i'm concentrating on.

:roll: I can-not believe it! I go away for a few lousy days vacation...the market tanks over 200 in one day, gold craters, mortgage rates go up again and you guys are talking about speculating in land in Costa Rica....sheesh!

 

[TooFarTampa]

:roll: I can-not believe it! I go away for a few lousy days vacation...the market tanks over 200 in one day, gold craters, mortgage rates go up again and you guys are talking about speculating in land in Costa Rica....sheesh!

Hope you had fun getting out of your rut!