Posted by: Len | on December 7, 2016
The Deal Of The Week
SORRY, BUT THIS PROPERTY IS NO LONGER AVAILABLE
The inventory of affordable homes in downtown Granada, Nicaragua is growing smaller by the day. It is not so much that affordable homes are being bought up… although that is certainly part of it.
The reality is that owners of affordable houses in Granada know prices are on the rise so they are unwilling to sell their property now for a low price. Most can and will wait until prices go up. Occasionally there are deals though, and this is one of them…
This two bedroom, three bathroom home has an indoor swimming pool and large kitchen. The massive master bedroom with en suite is on the second floor. The second bedroom, that could also be a den or office, has its own private bathroom as well. There’s a third bathroom for guests.
The home has been recently renovated. In fact, the fridge and gas stove are still shrouded in the protected plastic they were wrapped in at the factory, and the washing machine is still in the box it was delivered in.
The home is located on the north side of Calle La Calzada, just a few blocks from Central Park and Granada’s nightlife and tourist area.
If purchased as a revenue property, or a vacation home that would be rented out when not required by the owner, the property would easily rent for US$500 plus utilities.
The owner is asking US$149,500.00 for the property. Title is clear and there are no encumbrances to interfere with the transfer of the property. The vendor is not prepared to provide purchase financing but financing is available. To learn more, contact Nica Investments.
To learn more contact Nica Investments
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Posted by: Len | on November 7, 2016
Neither of the investment opportunities mentioned are still available. There are others though, so contact Nica Investments.
Good & Bad News…
First the bad news. The Joint Venture opportunity featured in the earlier newsletter entitled Joint Venture Development Opportunity In Nicaragua as been sold.
The good news is that a very similar opportunity is available on the property next door. It has lake frontage of about 65 feet, perfect for a private moorage jetty. The total land area is about 2 manzanas (3.4 acres) of land. The seller is asking US$150,000 but will consider a joint venture arrangement.
I will feature this property in an upcoming newsletter. I need to research the title, take some photos and do a bit of due diligence. Being lakefront I have to determine that there will be no problem building on the property. Stand by because this could be an excellent opportunity.
A Pre-Sell Condo Bargain
Barrio Otra Banda in the city of Granada is quickly becoming gentrified. Homes are being renovated and new dwellings are being built. A new hotel was recently constructed and has already opened for business, and just down the street for this new hotel, vacation/retirement condos are being built.
The condominium development is offering presell bargains to smart investors who get in early. I know what you’re thinking… “Another attempt to get future buyers to pay for the construction of a condominium complex that may never be built.” Nothing could be further from the truth.
Investors wanting to lock in a below market purchase price on a one or two bedroom condo need only pay a small percentage down to reserve a unit and lock in the pre-sell price. At the moment 5% of the purchase amount will reserve one of the limited number of one and two bedroom condos.
Below is a rough rendering of the proposed development. These condos, located close to the city center, are ideal for use as personal residences, vacation rental properties, or both. Already retail mortgages are in place to facilitate purchasers requiring financing to complete purchases. To learn more about this property contact us for an information package.
Shortly after this newsletter was sent, I received an inquiry for more information, price, size, number of bathrooms and so on. Later the subscriber asked if a single purchaser would be able to tie up more than one condo unit at the presell prices. I hadn’t had an opportunity to discuss it with the developer, but felt comfortable stating there would be no problem.
Knowing the particular subscriber as well as I do, I believe he may be intending to buy multiple units at the discounted rate to rent out while he attempts to resell them for a profit. This was not something I saw as a potential business model, but looking at comparable condominiums in Granada, it’s an entirely plausible business plan.
To learn more about this investment opportunity or others contact Nica Investments.
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