Common Mistakes When Buying Property in Costa Rica (and How to Avoid Them)?

When people are buying properties in Costa Rica, as they will in other places, they will make common mistakes. This article will look at some of them, so that, as buyers of real estate in this part of the world, we can avoid them.

For more information about real estate in Costa Rica, click here.

Use an Established Real Estate Agent

It is important to go with a local and established real estate agent when you are purchasing a house. They will have the experience of what makes a property suitable for a buyer and also know the local area in which they are selling the property. For example, a real estate agent will know that houses in Costa Rica are a very good investment because properties there will sell for less than it would cost you in the United States for the equivalent. They will also know that the property taxes are reasonable. Also, they will have a good understanding of how much the country has to offer whether you are living there permanently or staying there on vacation.

A good test to whether a real estate agent knows their area is to see how many more properties they are selling that are located in that same area. A company that is selling in lots of different areas may lack the local knowledge that you may be looking for as a buyer.

Research Market Values

It is always useful to research market values in an area such as Costa Rica yourself and see how prices compare between houses there now, and how they have changed over time. You do not need to compare them with another area if your heart is set on Costa Rica, but you should compare the real estate within that area to make sure that you are paying a fair price for your property. It is good to research market values yourself as well as call on the expertise of the real estate agent. It will help you to engage more with the whole process and receive greater satisfaction when you find just the property that you are looking for. In a location as well sought after as Costa Rica, knowing the market values can help you to plan your next steps.

There can be a right time to buy. This depends on whether a particular region is growing or has reached its full potential. Costa Rica, at present, is a country where housing is currently affordable, so the indications are, as house prices tend to rise, that now is the perfect time to buy real estate there.

Estimate Correctly when Thinking about Future Improvements and Maintenance

The ability to estimate is always a valuable skill. That is to be able to assess what things are roughly worth without going into detail. It will save a lot of time looking at properties that are beyond your reach where future work is needed to be done on them that might take them out of your future budget.

We should consider that something in Costa Rica may not have the same costs attached to its maintenance and home improvements that real estate might in other parts of the world. As mentioned above, real estate is more cost-effective to buy in Costa Rica than in other parts of the world. It also depends on the rules and regulations and how much local tradespeople might charge to work on your house. All these costs should be factored in when buying a house that you plan to develop further, either internally or externally.

In conclusion, when looking for real estate in Costa Rica, we should, first of all, find an established real estate agent that can guide us through the process of house buying by knowing what kind of house will suit our needs best when we describe our situation to them. We should be looking for a real estate agent that knows the area inside out in terms of where they are selling their properties. Researching is a useful skill whatever your business, but as a house buyer it is invaluable to know what prices you can expect a house to reach when it comes to securing one and getting a fair deal. Then, you should be a good estimator because you might find that a house will need to be altered to entirely suit your requirements. You need to know how much cost is likely to be added from this. So, there we have it. A few tips to stop you from going wrong when you are looking to purchase real estate in Costa Rica.

Business Tips For Beginners

As you embark on your new venture, you need to have a sound business plan. The most important thing to consider is your target audience and how the business will survive and grow as the years go by. You need business tips to guide you as you take the initial steps towards business ownership. If you are a young entrepreneur, you may not yet understand all that business tips have to offer.

In order for you to reap the benefits of business tips, it is important that you understand what they mean. Some business owners use business plans to cover all aspects of their businesses. Some business tips are focused on marketing and advertising. There are other factors, however, that are crucial in making your business succeed.

One aspect of your business is the people that you have working for you. If they work hard and produce quality work, you will build a positive reputation for your company. A good business will enjoy longevity if it is able to create a positive working environment and atmosphere. When people feel comfortable in the work place, they generally do their best work.

Businesses also need to have clear goals for them to be successful. These goals must be specific and measurable. They should have a beginning, middle, and an end. Without goals, you are drifting aimlessly. You will not make any progress unless you know where you want to go.

Some business owners focus on marketing and advertising. These are necessary, but the type of marketing that you choose may affect your success. For example, newspaper ads are effective only if people read them. If they are thrown in the recycling bin, they are wasted. Effective marketing involves creating an awareness of your business through media. There are various types of marketing that you can use, including television, radio, billboards, brochures, and websites.

Another important factor in your business tips is the financial status of your company. You will not succeed unless you have enough money to pay your employees, rent an office, and buy equipment. If you are a small business owner, you may be able to do most of these things without taking a loan. The more capital that you have available to you, the better your chances of succeeding.

Another important piece of business tips is to attract customers. One way to do this is to advertise. You should post signs around your city, and on the Internet, you should use article marketing. These two methods are very inexpensive and are effective ways of getting the word out about your business. You will need to be creative when it comes to designing and displaying your advertising. If you have a website, you can include graphics that will allow potential customers to learn about your products and services.

You will also need to be good at listening to customers and addressing their needs. This is why it is imperative to keep up with current news and events. Always ask your customers what they would like to see. Do your research and know what is popular among your target market. The tips that you read here can be put into practice to create a successful business.

Company Earnings Season – a Guide

There are a lot of aspects to maintaining your stock portfolio. You need to monitor your shares with different companies, to keep an eye on trends, and to follow your risk management strategy. The bustle suddenly picks up as the company earnings season approaches.  

You may find some people preparing to complete massive trades during that time, while others don’t make much of a fuss out of it. So what does earnings season really entail? More importantly, should you also be ready to trade at a moment’s notice? Should you think of derivatives and include CFD trading shares providers such as easyMarkets? Keep reading this guide for a few pointers

When is the earnings season?

Some novice investors may find themselves confused about when exactly earnings season is. Other investors you may know start discussing their shades and trades at different points throughout the year, and you might end up feeling like you’ve missed something.

There are actually four earnings seasons each year. They’re called seasons rather than “earnings days” or “earnings weeks” because different companies have different timetables each season.

As a rule of thumb, an earnings season occurs 2 to 4 weeks after a fiscal quarter ends. Most quarters end in the last week of June, September, December, and March. Companies release data regarding their earnings for the quarter in the following month.

Stock market earnings reports explained

Most companies schedule a conference call with their investors to discuss performance, losses, gains, and strategies for the new year. As a shareholder, you can also find public copies of these records to review on your own.

However, you probably have some questions about the wide array of terms and figures on the report. This explanation details what exactly you should expect and look for on each report. But the bottom line – which is literally the bottommost line of an earnings report – is the quickest reference point for how much profit the company brought in.

That figure is a good guiding point, but it still doesn’t tell the whole story. Check out whether the cost of doing business is going up, what the forecasted growth for the year is, and if the company anticipates any losses.

Planning your trades

As we’ve noted before, you might notice a lot of activity around earnings season. Does this mean you have to trade as well? Not at all. In fact, it’s far better if you plan your trades before reports are released and stick to your plan.

It’s not uncommon for impulsivity and knee-jerk reactions to take over instead of logic. Don’t fall into the trap and expose your account to more risk. Instead, look up the last year’s reports and see if you can identify any trends on your own.

Once you’ve anticipated obvious losses, sit down and do a few calculations. Decide what the bar is for company metrics that are going to cause you to sell. When the earnings reports come flooding it, stick to your strategy and only trade if it makes practical sense.

Deeper Consumer Engagement with an Affiliate Programme

Increasingly, customers want a complete experience from your company, where they can get to grips with what you have to offer, and the services and products that you are offering. Try to cater for as many people as possible, by offering different price points and different ways to buy. Most people do not know what they want until you’ve told them what you have to offer, so you need to encourage customers to ask you questions so you can build a relationship.

Remember that your business is not about you – it is about providing a service or a product to someone, and providing a great experience for them.

One example of this is the healthcare industry which has much to gain from selling products to their customers on the Internet.

Running an affiliate programme for your own business can boost sales quite considerably, with commission-based revenue-sharing structures typically forming part of an affiliate programme working best for business with lower production overheads.

In the long-term, however, for your affiliates to generate the most revenue from the programme, they need to have made an honest effort to bring in more customers in order to build up their resources.

Flexibility and convenience are two of the main advantages of running a affiliate programme for your own business.

As long as your affiliates remain honest and their actions meet the standards of the affiliate programme, you will still earn profits for your own business.

However, although running a programme can be a good way to generate additional income for your business, making sure affiliates fulfil the criteria outlined above is an essential part of the process to keep the programme running smoothly and maintain a profit.

Your affiliates should have a good grasp of the technical aspects of running the affiliate programme. For example, it is essential they understand the affiliate’s niche to be able to spot potential new leads, and be familiar with the most effective techniques to attract customers to their pages.

A good affiliate programme should also be simple to maintain, and your affiliates must be able to keep up with the software you’ve chosen.

Some affiliates might need assistance running the programme to ensure it’s running effectively, and it’s a good idea to choose an affiliate platform that provides support for your business.

Top affiliate platforms include Crazy Egg, Booking.com, Nestle Pure Life, and Groupon.

When we enter into the world of online casinos, however, we come to expect that each new platform we come across is indeed a 3 minimum deposit casino, meaning it likely operates its very own integrated affiliate programme. For this reason we’d witness the opposite of the practice of businesses and customers effectively passing on their marketing and expansion costs to customers.

This way, they can pass on bigger savings, rewards and promotional bonuses to customers without the hefty and generous value they give of themselves affecting their operations in the slightest of ways. It’s this type of win-win relationship which endears consumers to the brand or platform they’re interacting with.

Interesting Aspects of Co-Working Space Culture

Co-Working Spaces are commonly seen as a main and the most important piece of infrastructure of start-ups and young companies to some extent. As a way to get your own office space and having your own employees all in one go, a co-working space might be a viable option.

As an organisation grows, they might find it difficult to sustain and sustain, the pressure of ensuring that the location they rent out has adequate number of desks is one of the most expensive portions of their budget. Though this is one of the more popular choices of business, it is far from perfect for a multitude of reasons.

Lack of proper infrastructure

One of the key factors for failure of co-working spaces is the fact that they are unable to provide an efficient infrastructure and workspace. There are few companies which try to stay true to the concept of co-working. WeWork is a co-working space that is based in New York and founded by American entrepreneur, Adam Neumann. It has a portfolio of two million square feet of work space that is exclusively meant for start-ups and small and medium-sized enterprises.

Another company that has a lot of experience in offering an efficient co-working space is Dogpatch Labs. It was founded by 20-year-old Greg Gottesman who was a senior student at Columbia University. In May 2018, he sold Dogpatch Labs to WeWork for $42 million.

Convenience

Co-working is an affordable option for the millennial generation. They can spend anywhere between $200 to $1000 for every square foot of available co-working space. This does not mean that an individual is able to control his co-workers. This does not allow any individual to control the proceedings within his co-working space. Also, there is limited support and 24/7 emergency telephone service that an individual needs in order to take care of their business.

This leads to easy access to the workforce in the most convenient way possible.

Entrepreneurs not able to work full-time

Entrepreneurs are the ones who run a start-up and this kind of works best for them. Working for an organisation while working for yourself will not be an option for them. Due to their inability to use the available space full-time, they would usually not be able to concentrate completely on their business. Some digital age business models are centred on content generation, such as how a blogger might do reviews of new online casinos for a living, earning revenue through advertising on their blog. Does this type of digital entrepreneur need to work in co-working space, for instance?

Low employee retention

If a company has not made the employees of its co-working spaces as its own and also failed to provide adequate support, this might lead to a long-term decline of the start-up. In most cases, the main reason for failure to pay a monthly rent on the location would be employees leaving the company.

There is always a risk of employees leaving the co-working space and the organisation that houses them. In case this is the case, there is little or no support from the organisation. The company has failed to offer an environment that the employees need to have positive business vibes.

Guru Or Business Guru?

A few months ago I took part in a Business World conference in Spain. I had never been to this particular conference before and was really intrigued to see what all the fuss was about. Business World took many of procedures from thirty day procedures down to just 2 or three days; everything was laid out in front of me like a map. There were so many interesting topics, areas of expertise and areas of discussion that I could not keep track of all of it. It was quite a seminar for sure!

We discussed new normal areas such as Business Process Outsourcing (BPO) and Virtual Commerce along with many topics that are still hot topics in business world today. These include: Online Marketing, Cloud Computing, Social Media and Mobile Computing. There were many topics that were new to me such as; Video Conferencing, Mobile VoIP, e-Commerce, Innovative Banking and other areas. These topics are not always brought up in the business world, but when they are these topics can become very exciting and can spur the start of new innovation and change. And it is happening right now! In fact, we are already seeing many businesses that are adopting this new business methodology.

So, let’s talk about what we learned about Business World from my experience. First we discussed the term “As a Verb.” As a verb, this phrase means; to provide value, solve problems or do something that adds value to the life of another. When you use this phrase in the business world, you are actually describing what you did to help another person. It shows the business person as an appreciative partner who sees beyond the transaction or interaction itself.

Next we covered the term “Business Grapher” which simply means a person who analyzes business jargon, business processes and trends. This person uses their findings to create reports, charts and other visual aids. So again, we have a creative business writer here using their creativity to provide value to another party. The key point here is, that they use language, processes and trends they learn while engaging in the creative process to report findings. Again, this is helpful to the company that they work for!

Finally, I’d like to introduce you to the overused phrase “I’m not so Money Wise.” This overused phrase should be avoided, it does nothing to help the speaker to make them sound tired and out of touch with their core competency level. I personally don’t use this phrase much, I prefer to describe people who are financially savvy and more attuned to their core competency. This seems to be a more apt phrase to use if we want our leaders to truly become Money Wise leaders.

In addition, all of the business jargon I mentioned above is only considered overused when used so rarely and in such specific situations. For example, we often say to each other, “What’s your price?” However, rarely do we say, “Your price is my price.” Those are two different situations, and both deserve to be highlighted and discussed because they highlight the true value in our business and in ourselves as human beings.

What does all this talk about overused or tired business jargon really have to do with what you hear about some so called “Guru’s” in the business world. Do you know what I am getting at here? You see, all of the marketing gurus and business gurus out there are merely tools, along with a strategy and a plan to help you reach your desired result. They are not leaders. They cannot lead unless they can back up all of their claims with action.

Therefore, instead of listening to these well intentioned and very intelligent sounding phrases, why not consider instead how you can become a leader by doing just what I just mentioned. That is, by simply putting forth a plan and implementing it with action. If you implement that same simple strategic plan, then you can be sure that you will indeed become a guru.

The Intent Automatically Attached to an Officially Registered Business Entity

Whether your ultimate goal is to perhaps get a profitable chunk of a new online casino or if you just want to build up some kind of business portfolio and track-record, registering a business officially and effectively becoming a director affords you various conveniences and freedoms.

Commitment to expansion

Companies which have incorporated, are often perceived as more focused and invested in the business. This, as well, means that they are more likely to commit to expanding and growing their operations.

 Increase your liability protection

In the event of a business, or property loss, in addition to being the owner of the business, you are now also considered liable.

Build your brand

Being a founder of a company, gives you a say, in the development of the company’s brand, which can be positive and potentially rewarding for your personal brand.

Direct it

Being a founder, gives you more freedom to direct and create the company’s future direction, and activities. It also allows you to receive certain benefits, such as bonus bonuses, stock options, and the ability to increase and decrease your monthly investment amount.

Make the company a separate entity

Being an owner, means that your company is now considered a separate entity. It is no longer a direct subsidiary of you, or a subsidiary of your personal business.

Removal of common business barriers

The legal status of the company will also remove or mitigate the common barriers that commercial organisations face, such as requiring a set of financial reports, with information on the company’s activities, revenue, expenses, and any other financial information.

Keeping control of the company

This is especially important for personal investors and entrepreneurs. If you hold the company under your personal name, then you will be prevented from giving your company to your spouse or children, or anyone else you would like to. As a result, your personal assets and personal rights, would be compromised.

Reduce tax implications

If you are an investor in the company, you can be exempt from paying any corporate income taxes on profits, as a shareholder.

Reduce administrative costs

The incorporation of a company, eliminates or reduces administrative costs.

Receive a share of company profits

Tax advantages aside, incorporating a business, can also give you a share in the profits, and the growth of your business. In this way, you also gain some extra motivation, to continue the business, and improve its operation, and customer base.

Ability to attract and retain employees

While many small business owners and entrepreneurs believe that they cannot attract and retain employees because of their own personal constraints, or constraints, the company status, gives you the opportunity to access, and attract, employees, and potential employees, who are not focused on the personal issues, but the business aspect of it.

Increased liquidity

There are times, when you may need extra cash, and you can use the incorporation of a business, to secure financing, for your business needs.

Lower tax obligations

There are times, when you may be taxed at a lower tax rate, because your income is being classified as company profits.

Lessors for business equipment

One advantage of being a company, is that you can lease equipment, and other business assets from other companies or individuals.