One of the most underused and overlooked ways to come up with the capital to invest in Costa Rica real estate is through your IRA account. Many people are unaware that they can invest any other than cash into their IRA, but the truth is that many other investments such as real estate, gold and other tangible goods can be put into an IRA. Some investments such as life insurance and antiques are ruled out, but that still leaves the door wide open for purchasing a beautiful piece of property in Costa Rica while enjoying the tax savings that come from putting that investment into an IRA.
Of course you will want to sort through all the details with your attorney, but just imagine the possibilities: you get to enjoy a beautiful home in paradise when you retire and meanwhile you can collect rent on the property that will help build up your IRA account even further so you can truly live the La Buena Vida (the good life) when you retire. Talk about having the best of both worlds, I don’t know what could be better.
So, you can either let your money sit in a bank somewhere earning minimal interest and then try to buy a nice home to retire in when it matures and the prices are up, or you can take advantage of the good deals on real estate that are available right now in Costa Rica and put that money to work for you gaining equity and collecting rent so you can retire in style.
One thing you don’t want to do is to get to the point where you are ready to retire and be filled with regrets. Don’t let this idea just get tossed to the side and end up being an “if only” in your life. Seize the moment. Take control of your life and your money and take a chance on doing something that can truly make a difference for many years to come.
ESCAZU