With Fifty Grand to Invest

This one is going to be quick and easy.
I get lots of e-mail very similar to the one below.
Joe writes…

I am a 36 years old and live in NYC. I am looking to find out about buying property (perhaps just land) in Nicaragua. Not sure about the rules for foreign nationals, etc... Was hoping to find out some of that information from you? Squatters rights, etc.. Anything and everything that I would need to know. I am looking for something that would be a good investment property and a bargain. The absolute ceiling for me at this point would be $50K just so you know that I am not wealthy. I worked in Panama and Ecuador and fell in love with central and South America and would love to buy some property that my French girlfriend (soon to be wife) can vacation in and watch our future children grow up in, and someday retire to. I recently had a conversation with a co-worker who just bought some land in the Costa Rican mountains for as little as $10k!! This is true. I thank you in advance.
Joe

Joe
Buying property in Nicaragua is just like buying property in NYC.
Yeah right!
It’s way different here. First of all you are treated just like a Nica. That is you have the same rights and your property title will not read any different than anyone else’s.
But in NYC you have a cadre of laws and agencies and enforcement protecting you. Here as Bob Dillon said.

“ The cops don’t need you and buddy they expect the same”

You need to do you homework or better yet buy from someone who has a stake in Nicaragua and a reputation to protect. They can do the heavy lifting.
I’ve lived here ten years now and my Nicaraguan partner and I have helped a hundred or so folks get started here in Nicaragua. We have property here and lives and no plans to leave.

There are no squatter’s rights like in Costa Rica. Nicaragua dealt with land reform in the 80’s through revolution. The new owners wrote a new constitution and they have written very strong private property laws to protect themselves. We new comers get a free ride. You do need to keep an eye on your land though.
I would not advise walking away for a year without some kind of vigilance.
Yes there are ten thousand dollar parcels

There are ten thousand dollar parcels to be bought but run the numbers if you will.
Just what could you possibly be buying? We sold some lots for $9,500 four years ago. Nice places just outside of SJDS (San Juan del Sur) and today they are probably worth $15K. At the same time your $50K would have bought you an A lot on the beach at Playa Iguana, which would sell in a New York minute today for $250K.



Today if I had $50K what would I buy?
The question is more like what could I buy?
Raw land has appreciated too much for $50K to buy anything with real potential. Partnered up with a few other folks and yes there are still great buys out there but they are bigger and 150K would be a minimal buy in.
Let’s try checking the surf? When in doubt surf out.
There is a guy with the nutty idea that he can go surfing all day everyday and get paid to do it. Lets check out his web site at NSR
www.nicaraguasurfreport.com
He has ads on the side to generate income. He sells tee shirts and has bigger plans for the future. Lets check the ads for real estate.
NicaDev
http://www.nicadev.com/
Nice idea. Sounds like the kind of stuff I write. I like the sound of it and it would be worth checking out. $50K might just get you into a place with ocean view.
Century 21
http://www.c21sanjuandelsur.com/farms.htm
Nothing under $180K
Steve Snyder
http://www.sniderrealty.com.ni/
Looks like mostly properties in the major developments on Tola.
Relatively risk free and lovely beaches.
No prices and I’m pretty sure if they knew you only had $50K to invest they would turn you around at the gate. But wait… I do know the golf course lots in Playa Iguana are still available for $60K, just ten K over the fifty thousand Joe has to invest. Maybe something in Gualito?

And now the Pitch.
I write these things for a reason. The reason is to attract the right kind of people to Nicaragua and make them part of our life down here.

There are still golf course lots available in Playa Iguana now for around $60K. Great investment and lots of infrastructure but you want to raise kids on a golf course? Minimal house to pass CC & R’s would be $125,000 I bet.

My favorite local in Nicaragua is Pie de Gigante.

Bahia Gigante is a pristine Nicaraguan fishing village, pristine in that it is still peopled by people of the sea. The locals are still in position on the beachfront properties and they work everyday at the fishing. You can move back in time in Gigante.
My partner and I have a dream of creating a community of like-minded people in Gigante. Like-minded in that we are looking for something we don’t find in the USA anymore, friends and camaraderie. A life filled with fishing, surfing swimming in the clear waters of the bay. Art and culture on a family and neighborhood level; in Nicaragua everyone is considered a poet until they prove themselves otherwise.
I want to live with my Nicaragua neighbors not apart from them. Gates to keep out the animals not the locals, gardeners instead of guards. A lending library at the public well where the local children can be exposed to books and learning while their Mothers wash the family’s clothes.
$50K would buy a lovely lot with ocean view and all the utilities.
We have one lot left in our first project called oddly enough Gigante Uno. It is about 1000 sq meters and sells for $27,500. That would be about $30K after utilities hook-ups. Most developers include the utilities. We do it differently. Because we are trying to develop a sense of community we install the utilities and then split the cost among the varied owners. It gets people used to the idea that we are in this thing together and together we can do wonderful things cheaply.


We still have a lot or two left in Las Delicious just outside of San Juan del Sur. You could buy in for $15K and build a garage with sleeping area and kitchen and bathroom for another $15 K. You’d have a place to vacation while you slowly built the rest of the house.

A short list I’m sure. Let me know if somebody out there finds something better or even equal.

Now in my last post I talked about two houses for sale in San Juan del Sur for $100K. Here’s what happened when I went to check the paperwork.
One house, the worst, went up in price to $150K.
The other we have been unable to obtain the paperwork. Even after two trips to the owner’s house in Masaya! Not easy money down here.

Weather has been much improved. The sky’s are clear and we are enjoying back to normal rainy season weather. Actually my favorite time of year for living the Vida Nica.
Ken Ross got me in the water four times his last week here and I got Ponga Drops one day last week when I went and visited the Hudson’s at the clubhouse in Playa Iguana.

If you surf don’t stop. If you don’t surf don’t
start

.

Beta Hits Nicaragua

But not very hard.
Thank God!
We made it through with very little damage at least to this side of the country.
We got lucky.
I really think Nicaragua’s string of disasters has come to an end.

I am really excited about the future here. I have lived here for ten years now and I see the old starting to be overcome by the new. I don't know why but I am bubbling over with optimism this morning.

Now we can go forward with our road repairs and community planning.

Thank you all for the good vibes.
Now if anybody is interested……I’ve found two houses for under $95K here in San Juan del Sur. Still checking the papers but there are still some deals out there.

BETA update

Nicaragua is in the news again and it is bad news again.
Here is an update to what is going on by someone who has their boots in the mud.

All is not well but we are making it.
This was the worst rainy season for weather since I’ve been here.
We started out with a Hurricane from El Salvador that was on the Pacific side.!
That is very rare. We lost the good ship Masayita when she was ferrying clients in too rough a seas. She lasted till she was on the beach and we salvaged everything except her lovely hull. Our clients got wet to their knees. The town had a nice ceremony for her and her valiant life pioneering surf tourism here in Southern Nicaragua.


Next we had rain and onshore winds everyday from September 22 till October 27th.
This was more rain than we got from Hurricane Mitch but with none of the resulting aid.
The road to the North along the beaches was cut in two places but the Nicaragua people struggled back and kept the roads open.

Now we are in the news again with BETA.
The good news is we at Nicasurf are ready. I’ve got all the boats out of the water.
Of course this means that BETA has continued moving North and will impact Nicaragua in the very farthest North East, even farther North than from where we bought the Masayita in Puerto Cabazas.

I am headed out to Pie de Gigante today to take photo of the rod repairs we are making and will send you continuing updates on my return.

Another hard day at the office

I had a client who wanted to see the lots we were selling overlooking Bahia Gigante.
The 30-min Panga ride from San Juan del Sur was simply beautiful.
So much empty coastline, long beaches and islands full of nesting sea birds. The bay at Gigante is calm and clean. We anchored in front of the village and swam in, our shoes and clothes in a dry bag.
When we got to the beach we ordered our lunch by the pound. One pound of lobster tails each.
A really lovely lady named Blanca runs one of the restaurants right on the beach. We were the only customers.
Blanca goes and buys the lobsters fresh off the boat while we hike the seven-min to the properties Dennis and I have just subdivided.
First thing we notice is the roads we cut in to access the lots came out really nice and they are well hidden from the main road as well as the ocean.

The lots line a ridge and overlook the bay at Gigante.
We walked the top property line and then found a shady spot.
We sat and talked about life as the howler monkeys let lose and gave us hell. it's peaceful and you just don't want to leave. I envision cutting ATV trails into the back 8 manzanas so we can see the birds and the cool trees way back there. There were 27 lots to start with and there are four remaining.
We have a really good group of pioneers to start this community by the sea.
So we get back to the beach and Blanca has our lunch ready. Eight big lobsters tails with a tomato, onion and green pepper salad over rice.
We eat till we almost pop and wash it all down with two ice-cold liters of Toña.
While we are eating they unfold the cots and after lunch she provides a pillow and a cot.
We slept the sleep of contented and overfed for 45 min.
Got back in the Ponga and ran the five-min up to the beach break.
The surf was really good but that's another story.
If your interested in finding out how to become part of this growing ex-pat community in the middle of paradise please write us back.
Ken Black wrote about a day like this for Outside magazine see it here
http://outside.away.com/outside/outside_traveler_2004/nicaragua_4.html

Dale Dagger
Bahia Gigante

Beach House in Gigante

One of you kind readers asked for photos of the buildings in Bahia Gigante.
Here are a few.

This is a four-bedroom five bath simple beach house. Lots of bedrooms, bathrooms, and a big kitchen and living area.

Right on the beach with backyard room for hammocks and beach chairs.

Future use will be surf lodge for my surf tour clients and guest house for prospective clients for the properties overlooking the bay.

This is the Great Room!
My German contractor has a cool way of saying things. I like the name and the room is going to be so neat once we get it filled with computers and Audio Video equip.

The Galley is open, spacious and the bar is great for keeping the cook in the show.
Any great cooks out there who like to make a guest appearance?

And this is the road side. Off street parking which will be key as Gigante grows.

We still have a lot of work to do. Today I am making a run to Nandime to buy the Dinning Table, or rather have it made

dale dagger whats to hear from you

Power to the People two

Compos and Compos rock!
Those are our power pole providers and they are burning up this job.
They weren’t the cheapest bid but they are balls of fire when it comes to getting it done.
We have our full time crew of machete guys working alone side the power guys. We are setting the water pipes at the same time.
Dennis said our cleaning guys are really stocked to learn how to glue the water tubes together. Dennis said you could see the pride on their faces.

Nicaragua is a special place for special people.

It gives you a chance to do more than just make money. You can change lives.
I live for this.

A ten bike project

Yep count em ten bikes. And that’s just the lead guys. All the helpers and gofers will be walking to work till the “get on steady”.
This is the biggest project in Tola since the New Mercado.
Dennis and I are building a business center and self-storage in Tola. We are right on the road to the best beaches in Nicaragua and we are stoked.
The project is a walled manzana and will offer open, covered and locked storage.
We are also building ourselves an office and a house for the live aboard caretaker.

Why? Because you can’t hang around with the King of Self Storage in Nicaragua, Mike Icabonie as long as I have and not have some of it rub off.

You know what was so easy about this? The permit process, permission to hook up the municipal water and the power took less than a day. It really helps if your partner is Nicaraguan.

Instant Friendship

I’m going to show you how to be instantly popular with any cab driver or bartender in Nicaragua.
The magic name is Dennis Martinez and he was a pictcher in the Major Leagues.
He won 245 games, the most so far by a Latin picture and Dennis also happens to be a Nicaraguan.
If you can just memorize this baseball trivia answer and repeat it you are on your way.

It's July 28, 1991, and Dennis Martinez can't stop crying.The veteran right-hander has just thrown a perfect game for the Montreal Expos, setting down 27 consecutive Los Angeles Dodgers in a 2-0 win at Dodger Stadium.

How popular is Dennis Martinez in Nicaragua? Well he would win the upcoming presidential election next November hands down. Now that is a refreshing thought.

E-mail me with comments please
ddagger at IBW.com.ni