Last Updated: | Author: Kathy Fettke | Topic: [RWS #616] Building a Dream Community in Costa Rica
Date: February 21, 2018
Imagine building not just your dream home, but also your dream community and dream business, all at the same time.
That’s exactly what today’s guest is doing.
As a senior executive and equity partner at Cape Advisors, David Comfort managed the development of over $300 million in real estate projects in and around New York City.
But when he started his family, he wanted to raise his kids in a healthier environment. He searched the world for the best place to build his dream community, and found 800 acres of lush, untouched fertile land in Costa Rica.
The property is just minutes from Costa Rica’s fastest growing city, which has currently been growing at a 22% rate and is expected to double it’s population over the next decade.
David came to me last year and asked if we’d like to be involved in his vision. It was a definite YES, after I heard about his plans.
I brought the deal to our Real Wealth Network members, and we were quickly able to raise the $5 million needed to acquire the land and entitle it. Those investors earned a 25% return in those 14 months. Now we are ready to build the homes and are raising capital for Phase II – the residential part of the project. Phase II investors will earn a 15% preferred return plus 15% of profits. We are also adding a debt component for self-directed investors who don’t want to pay UBIT taxes in their IRA’s.
So, let’s find out what’s new and exciting on the property today!
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