No Money Down Beachfront In Nicaragua
Creative Payment Terms Near Impossible To Resist
Aug. 12, 2009
Pacific Coast, Nicaragua
PLUS:
- Help For Expats In Belize...
- The Cost Of Living In Croatia...
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The World's Most Affordable Places To Retire...
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Dear Overseas Opportunity Letter Reader,
"Developers around the world are getting creative," writes resident global real estate investing expert Lief Simon. "They are offering free furniture packages, free golf club memberships, reduced prices, and deferred payments. I heard of one development where you could buy a condo and get a lot free.
"Some are these offers are gimmicks to get your attention, but some add considerable value, and the payment offers being made in some cases constitute the best purchase terms I've ever seen...for example:
"Developer friend Mike Cobb has decided to make a limited number of lots at his Gran Pacifica oceanside community in Nicaragua available with payment terms that are hard to beat.
"Mike understands that liquidity is an issue for buyers right now. During the real estate boom in the United States, retirees and investors were taking out lines of credit on real estate assets back home and using those funds to buy retirement or second homes overseas or to speculate in the international property arena.
"Unfortunately for both buyers and developers, those days are gone, and, in a market like Nicaragua, there's no chance for local financing (OK, if you worked at it hard enough and had the right bank contacts, you might get a mortgage for a house in Nicaragua as a foreigner, but I guarantee that you wouldn't like the terms).
"Gran Pacifica's terms, on the other hand, for this limited release of golf lots, are straightforward and highly appealing. Buy a lot today and pay just 1% of the purchase price per month for 100 months. These lots are on the second hole on the under-construction Emerald course scheduled to open at the end of this year.
"Most every lot sold at Gran Pacifica comes with a build requirement, but, in this case, for these lots, the developer has decided to remove any build requirement to further entice investors. You're not obligated ever to build a house if you don't want to.
"The lots are priced at $69,900, meaning your cost is US$699 per month for 100 months. Be you an investor or a would-be retiree abroad, this offer is difficult to beat, especially as the US$69,900 price tag includes a golf club social membership.
"Gran Pacifica is able to make this offer because they have already paid for and installed their infrastructure. They don't need full payment up front to cover infrastructure costs, as many developers in this part of the world do.
"You are among the very first to hear of this special price and limited-time payment offer. Mike's group has set aside 27 lots to be sold under these terms. Of these, eight have been sold to Gran Pacifica insiders. Nineteen lots remain available and, again, are being offered now exclusively to Live and Invest Overseas readers.
"Once the golf course is complete at the end of this year, these lots will retail for US$119,000.
"As Mike explains, 'These lots are right on the tee box of the new course opening in December. This is the time to jump, while the grass is still growing, to take advantage of an unparalleled opportunity for ownership without long-term building commitment. Flip these in a few years for a profit or build a casita overlooking a delightful par 5...'"
Get in touch here for more information.
Kathleen Peddicord
P.S. Gran Pacifica is one of the most established and developed private oceanfront communities along this country's long and beautiful Pacific coastline. See for yourself here.
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Top Health Insurance Options For The Retiree Abroad
Your detailed, complete, and current guide to the best choices right now for health insurance as an expat or retiree overseas.
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"My wife and I are English, retired, and living permanently in Cyprus. In November, we will be visiting Belize to see just what it is like, having read so much about its appeal and favorable tax situation.
"We would love to hear from existing expats, before we arrive, so that we can improve our knowledge through other people's experiences. Could you please put us in touch?"
-- Colin K., Cyprus
No problem. Our top expat contacts in Belize are correspondents Ann Kuffner, living on Ambergris Caye, and Phil Hahn, living on the northern mainland coast at Orchid Bay. Get in touch with them here: Belize@LiveandInvestOverseas.com.
"Do you have a county budget developed for Croatia? I am a subscriber to your Overseas Retirement Letter?"
-- Larry N., United States
Monthly costs and expenses are detailed in your February 2009 ORL issue. If you've misplaced it, get in touch and we'll forward another copy. Contact us here: CustomerService@OverseasRetirementLetter.com.
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