Introduction
[Richard Bexon] Going to hit record. It’s not live anyway, so we can kind of edit it out. But it’s, it’s just a, you know, a simple question, you know, about how you got to Costa Rica and, you know, then a little bit about shift and what you guys are looking to do there, etc. Etc.
[Matthew Blesso] Okay, sounds good. Let’s do it.
[Richard Bexon] So I’ll pause, say good afternoon, we’ll get started. Okay.
[Matthew Blesso] All right, sounds good.
[Richard Bexon] Awesome.
[Matthew Blesso] And there’s no background noise that you’re hearing? Because there’s a little music in my background. Okay, great. Okay. All right.
[Richard Bexon] Oh, okay, let me give it 2 secs. Good afternoon, Matthew. How you doing?
[Matthew Blesso] Doing great, Richard, how are you?
[Richard Bexon] Yeah, very, very good. Appreciate you joining us on the podcast just here. I know we’re recording it just before Christmas and I think this will probably get released in the first or second week of the new year. So I appreciate you making time for us.
[Matthew Blesso] Yeah. And thanks for having me. I’m excited to be here.
Market Overview: Nosara Development Trends
[Richard Bexon] Not at all, not at all. I mean, I think my first question, you know, is just to get a sense of kind of what’s going on, you know, I mean, there’s been some volatility, I would say, you know, in Western markets, both politically and just in the markets as well. And I think it’s probably here to stay for the foreseeable future. I mean, what are you seeing based on, you know, your experience happening here in Costa Rica? How’s that impacting it?
[Matthew Blesso] Well, we’re not really commodity real estate developers, so we’re probably less impacted by the sort of macroeconomic element than sort of the average real estate developer. We’re, we’re developing a project that is really focused on people that want to live in community, in a socially conscious and spiritually minded environment with a focus on environmentalism and shared values. So that when you’re attracting people like that, I think it’s going to be a little bit less dependent on overall macroeconomic things. But we obviously still have some dependence. And I think the overall market in Nosara, which is where we’re located, has kind of normalised. It was, you know, when really went nuts during and kind of directly after Covid and to an extent, I think was sort of unhealthy in some ways, but I think it’s kind of drop down to what maybe feels slow now compared to where it was before. But I think for a market of the size of Nosara, it’s kind of more. More normalised.
[Richard Bexon] Yeah, I mean, I think Noada probably is the What? Second most expensive market in Costa Rica with the most expensive being kind of up in Papagayo, you know, per square metre. But yeah, I mean, I think it’s definitely settled. Things have, you know, slowed down a little bit, I mean, to what, what, you know, I mean, it was still going gangbusters and, you know, things are still happening in that area. But yeah, I, I think that we’re the word for the end of 2024 maybe is returning to some form of normality, whatever that may look like.
[Matthew Blesso] Yep. Yeah.
SHIFT Esperanza: Project Origins
[Richard Bexon] How did, how did you start shift, Esperanza? I mean, I mean, where did the idea come from and how did you, you know, how did you end up in this location?
[Matthew Blesso] Sure. Well, I’ve been a real estate developer for over 25 years. My background, I got my start on my own in New York. I was originally working in banking and finance and I started doing real estate, small investments on the side and, and ended up going back to grad school in nyu, got a master’s in real estate development, did my own little project in Manhattan and that went well. And then, you know, took on another one, left the banking job and, and my timing was very fortuitous of, of, you know, the market was really growing up when I was getting started. Yeah. And did very well. But I guess I always felt that as I, I had the good fortune of being relatively successful at a young age and as I was experiencing that and it was really great, but I also felt that something was missing. We as a company have always focused on building sustainably and trying to be a different type of real estate developer that is not purely focused on making money. Yep. But we really wanted to take that to another level that I felt could not really be done in the urban environment. And so I had, you know, visited Costa Rica. I actually did a retreat in Nosara at the Blue Spirit Retreat Centre. Had a wonderful experience there and, and kept coming back. And I felt Costa Rica as a country really aligned with my own personal values. And it, I really got turned on to the idea of regenerative land projects. So working in New York City, we don’t, we never have to debate cutting down trees. You know, there are none. And when we trying to create trees, it’s like, okay, maybe we do a few on the roof or a couple on the sidewalk and that’s about it.
[Richard Bexon] Yep.
Regenerative Development Approach
[Matthew Blesso] And I really love the idea of. There was this opportunity that I felt because so much of Central America has been deforested and by buying old farmland that was originally forest, when someone else has Already committed the sins. There is this great opportunity where you can build housing and also do a reforestation programme around the houses that you’re building. And so net, net you’re planting, you know, you can plant tens of thousands of trees in a reforestation programme rather than. So much of development is focused on cutting down reefs. And that really excited me.
[Richard Bexon] Well, I think we’re very much aligned on that with regards to the trees. I mean, I’ve got a project at the moment where I’m having to rewild half of it, you know, because it was, you know, I mean, basically cow pastures. And it’s a shame that that happened, but, you know, thank God that we have, you know, developments like Shift Esperanza, that, you know, are going to, as what they say, I think the word is rewild, you know, Costa Rica again.
[Matthew Blesso] Yeah. And Costa Rica is a model of doing that as a country. So we felt like it was a really great place to establish a project like shift. And that’s the, the environmental piece, I would say is sort of like talking big picture. 50% of the vision, the other 50% of the vision is around community. And I have had. Community has played a very important role in my wife, in my life, in my wife’s life. And we’ve been a part of different communities over the years that was really New York based, but also more global communities. And it really, it really changed our lives in a positive way. And I felt like everybody should be able to have an experience of the value of community, of living among people where there are supportive relationships, where your neighbours genuinely care about you and you about them and people are. Can count on one another.
[Richard Bexon] Yeah.
Community-Centered Development
[Matthew Blesso] And that is not what, you know, Costa Rica, one of the reasons it’s such a beautiful country is that the sense of family is so strong. And so, you know, Costa Ricans understand that. And I think for me, coming from the States, a lot of people find community because they are physically separated from their, their biological families. So they form this concept of a chosen family and, and a chosen family could be really powerful and really lift people up in a lot of ways. And so we wanted to create a living environment where that is part of it, where we attract people that have shared values that, that want to support one another in the spirit of community, but still living in their own homes and still having autonomy and everything is sort of voluntary, but that a community is there and optional for them when they want and need it.
[Richard Bexon] It’s funny, you know, I mean, you’ve touched on community there and Kind of rewilding that, you know, I mean it’s, I live in a development that I’ve been in for 20 years and I don’t intend on moving because it’s a great community. But it’s kind of like the, the Western world is kind of breaking down communities and you know, neighbours argue quite a bit. Ra, you know, but I think it’s kind of people, it’s trying to be broken down. Whereas Costa Rica kind of going the other way which is more and more community, more and more rewilding, you know, kind of less development or I would say more sustainable development in Costa Rica because, you know, I mean we have a project where the neighbour, we were just starting construction, the neighbour started a chainsaw and cut down tree, like two or three trees without permits. Sinak who were the environmental agency were there in like two seconds. You know, they thought it was on our property, ended up being on the neighbours. But it’s like, you know, the focus I think of Costa Rica on sustainability and community, you know, and I say the word community of that like when that chainsaw was started, like within 10 minutes the environmental agency were there.
Technology and Community Building
[Matthew Blesso] Yeah, yeah. Well, Costa Rica has really, I, I feel has become ground zero for community focused projects in, in the Western hemisphere. And there, there’s, there’s just more and more that are coming all the time that people who have visions of, you know, it’s pretty clear that a lot of people are not happy with the standard living model. And when I, when I say living I’m not just referring to housing but you can call it the standard way of being and that, you know, people, we’re, as a society wealthier than we’ve ever been. Not across the board obviously, but, but as a, you know, as a, in total, in totality. Yet we have the highest incidence of loneliness and depression in the United States. The life expectancy has actually been decreasing over the last five years. There is increased record levels of obesity, of drug addiction, of suicide, of violence, of gun violence. So yet we’re richer than we’ve ever been. So we’re obviously doing something wrong. And there’s an increasing level of divisiveness in the world that you’re seeing all the time. Tribalism. And a lot of that is because there’s just an increasing level of isolation. If people aren’t talking to one another, they’re more likely going to not like each other or view somebody else as them, someone on the other team that they have to stay clear of that they have to protect themselves against. So we are really as a, as a model of living. Part of our thesis is to bring people back together and, and to, you know, all this technological advancement is, is great in some ways it makes a lot of things easier and more convenient for us but it also isolates us in a lot of ways. And part of our model is around recognising that technology is a double edged sword. It can, it can, it, it can isolate us and it can also be used to bring people together. And so we are really embracing the ways of using technology to, so we have our own proprietary app at Shift and people can use that to connect with one another and to organise things together, to organise activities, to share resources, to share the expense of things, to have collective child care, things like that. And so that’s just an example of a way that we want to harness technology to foster more face to face connection between people.
Development Challenges in Costa Rica
[Richard Bexon] Well, I know developing in Costa Rica is not easy Matthew, and probably more challenging than North America. But what, what have been some of the challenges so far for you guys?
[Matthew Blesso] Yeah, I would say some ways it’s easier than New York. In some ways it’s, it’s harder. Yep, it’s, I guess I have good training from, you know, New York is, you know, perhaps one of the toughest places in the world to, to, to make a profit as a developer. Yet there’s also a lot of bureaucracy I think in Costa Rica I always tell people I feel like we’ve had less sort of existential threat to the projects the way that you’re, I’m used to having as a developer in the States because there’s just always things that can go wrong in development but it requires a lot more patience and so things have taken longer than I’m used to. And in our project, given the complexity of it, some of our consultants have, you know, because I’ve complained, oh, why is, why is it, why have we take, why is this all taking so long? I think the amount that we’ve accomplished given the complexity of what we’re doing is actually we have a good record for that. So we now we’ve been working on this project for years and we do have a, you know, fully permitted, fully entitled horizontal condominium project with our own, you know, drilled well in our own water concession and approval for power in our first sub condominium and the environmental approval satena. But yeah, it’s a lot of approvals and I think for me the challenge was really building a team in Nosara is, is, has been really hard because it’s, it’s not like I can just post an ad on LinkedIn and, and get, you know, a whole bunch of, you know, experienced real estate development professionals applying to, to work with us. We’re really, you know, people come to Nosara, generally speaking, to not work. So. And we’re a very ambitious project that takes a lot of work. So I’m happy to say it’s taken time, but we’ve, we’ve, we’ve grown and developed a really beautiful team of people that, you know, that, that does feel now kind of like a second family where we are embodying the principles of the project in the workplace. But it’s taken a lot of time and particularly for me as a new person coming to town and not knowing anybody. And I was just, you know, showed up in town with, just as a guy with an idea. There’s a lot of guys with a lot of ideas, you know, that doesn’t go very far. So it took, you know, it took a long time to get kind of traction. But I feel like we’re certainly on the other side of that. But I’ve had to be really patient.
[Richard Bexon] Well, first of all, congratulations, Matthew, because I don’t think anyone understands, you know, the journey that you’ve been on. I mean, it very, I mean, I think you said the word patience there. And I mean, I think it’s, that’s what’s required in Costa Rica, but especially when doing a horizontal condominium or even a vertical condominium here. And for people that are listening, that don’t understand, like, basically a vertical condominium would basically be an apartment building with, you know, separate owners of each apartments. And then a horizontal one would be basically, I suppose you guys would call it a subdivision in the U.S. right, Matthew?
Condominium Structure Benefits
[Matthew Blesso] Yeah, and to be clear, we’re actually doing both. So we also have condo apartments. So we have, you know, a horizontal condominium and then a series of sub condominiums. But yeah, to answer your question, yeah, it’s, it’s, it’s far more complicated. Actually. I thought doing condos in New York, that was our bread and butter business for years. I thought that was complicated. It’s actually a lot more complicated to do condo projects in Costa Rica, which is why so few projects do them. And the reason that we went through that trouble is because it’s a, it’s a clear form of homeownership. Lenders generally like them, you know, for financing purposes and for a community focused project. It was really important for us also to have governance. And in Costa Rica, if you want to have enforceable governance. You have to be a condominium. And so there’s a lot of other projects, even, not even necessarily community projects that have been done where they have a homeowners association, but if somebody doesn’t, say, comply with the rules or doesn’t pay their. Their maintenance, there’s. There’s nothing that anybody can do. So condominium is the only form of structure in Costa Rica where you could really enforce governance. And I think most people don’t realise that.
[Richard Bexon] Yeah, I mean, I 100% agree. I mean, it’s, you know, I mean, that’s the beauty. There’s a regular mental, like a regulation. And I mean, you can also. It determines what you can build and what you can’t build and, you know, what colour it can be and what roof tiles. And I think the beauty of that is, from a community perspective of. But, like, okay, there is some, like, alignment behind that, but it also protects everyone’s investment as well, because the other form would be a residential subdivision. And there the roads are public, which you could kind of like block off and make private, but you really can’t. But then, I mean, your neighbor’s house could be a, you know, a pink castle, and there’s nothing you could do about it. And it really impacts, you know, you know, your investment as well. But, I mean, look, congratulations, Matthew, for going through that process because again, I’ve just. I know how difficult it is and, you know, I think anybody that’s looking to invest in Costa Rica should be doing it, even, you know, should. That’s the way that they should be investing in Costa Rica. Unless they just want, you know, a raw piece of land. But, like, if they’re looking for a closed community, it should be in a condominium.
[Matthew Blesso] Yep, yep.
Development Lessons and Timeline
[Richard Bexon] I mean, Matthew, if you had a time machine to go back and tell yourself something, you know, when you first started this, what would it be?
[Matthew Blesso] Like, what do I wish I had done differently?
[Richard Bexon] Well, no, what would you tell yourself? You know, I mean, you know, if you were to go back and speak to Matthew, I don’t know, five years ago, before you started the project, I mean, what would you say to yourself, apart from have a lot of patience?
[Matthew Blesso] Well, that. That’s really it that I guess I had. It’s. It’s basically taken twice as long and been two to three times as much work as I ever imagined. And I’m used to doing a lot of projects at the same time. In New York, there are times where, you know, I had five, six projects going on at once. All in, you know, development, planning, construction phase, I had a team of people managing them. So I’m, I’m used to juggling. You know, we also have a hospitality company in Panama. We have about 100 employees down there. So I’m used to, you know, managing a lot of different things. And, and it’s also the second new country that I’ve been to or, you know, our third country that we’re developing in. Yeah. But, yeah, Panama didn’t require the level of patience that, that I’ve needed to work in. In Costa Rica, you know, the good news is, like, I’m used to delays causing problems in projects, you know, particularly in New York, where everything is so highly levered. But, you know, in this case, this taking extra time has really made the project better. You know, we don’t, we have, we not like, you know, don’t have a lot of debt. We don’t have. And it’s actually, we’ve had the time. The market generally has been going up, so our economics look better today than they did when we started. So the delays have not been, you know, sort of painful from a financial standpoint. Actually, quite the opposite. But, but yeah, as entrepreneurs, we’re all impatient. We all want, you know, and, you know, in this case, it’s a very personal project because I, I want, you know, there’s a number of our friends that want to live in it, and I’m, I’m, I feel really responsible. And, and, and a number of them invested equity in the project with the ability to convert that equity to a home purchase. So, you know, they’ve been great with their patients as well. But, but, but I, you know, it’s just, I have that sense of responsibility. You know, I want to, I want to deliver the goods. That’s what us entrepreneurs like to do. And so, yeah, I guess that would be the main thing.
[Richard Bexon] I, I love sayings and like, again, if it was easy, everyone would do it, you know, and, and that’s the beauty of it. And I think that as entrepreneurs, you know, we’re constantly trying to climb mountains, and some of the mountains are bigger and more difficult to climb. And, you know, I mean, you want, as you get to the top, you know, you want to go to the next one, which is more difficult. But it’s, it’s amazing how many foreign people come here to Costa Rica to do what it is that you want to do and don’t clearly understand. Number one is how long it’s going to take and how much money they’re going to need. Meaning that like again, you could pay, you know, I mean, I spoke to someone the other day who paid like $5 million for hundreds of acres in Costa Rica and he was like, well, how much more do you think I’m gonna have to spend? I was like, another 5 million. And he was like, what? And I was like, yeah, well, you need like it’s a huge piece of land infrastructure. Like it’s insane that he’s gonna have to put in there, you know, he doesn’t have water, you know, and paid a lot of money for land. And he was like, well, how long do you think it take me to get out? And I was like, well, it depends how big your project is. But I mean it could be like 15, 20 years, man.
Importance of Development Experience
[Matthew Blesso] Yeah, it’s. I do think a lot of people, it’s interesting, most of the developers in Costa Rica are not have a different background, they have a background of doing something else. Successful entrepreneurs perhaps in a different industry. And I think people just don’t realise how, how complicated real estate development is in general in any country. Yep. And so for me there is still a big learning curve of coming to a new country because there’s a, you know, because it’s different than Panama or the States. My, I guess, advantage is that I know the process of development. I know how to, I know how to build teams, I know how to hire consultants and pick the right ones. And I think that’s been, I think it’s been a huge advantage yet still taking some time to get a full team in place. But yeah, and particularly around community projects or call it, you know, mission based projects. So real estate development in general as an industry is not very socially conscious. It is, and I’m talking worldwide, I’m not speaking of Costa Rica. It’s. The vast majority of people who do it are, are doing it for the money because it can be, if you do it well, it’s incredibly lucrative. And I think that’s the, you know, it’s. And when you get into the bigger realms of real estate development, it really is just kind of to me feels like a subset of Wall street. Having worked on both. There’s. It’s just a different asset class.
[Richard Bexon] Yep.
[Matthew Blesso] But. And then you have all of a lot of people that have visions for doing something good in the world as a, via a real estate development project. And those people are generally not real estate developers. And so they’re definitely. And a lot. And Costa Rica attracts a lot of them. And I think people underestimate just how hard it is to Execute and, and I did despite the fact I’ve been doing it for 25 years. So if I’m completely new to it then, you know, then I’m, I’m really going to underestimate it. But I’m glad to see that. I, I think it’s great that Costa Rica is still attracting a lot of those people that want to do mission based projects and some of them are succeeding and it’s great because it’s attracting great people to Costa Rica that are, that are conscious.
Mission-Based Development and Community Response
[Richard Bexon] I think it’s like if you just want to chase money, there are easier places to do it in the world. But, and that’s the beauty of Costa Rica. I think the difficulty is a natural filter for good like, but I would say good but I’m really talking about like mission based projects as you mentioned there, that like it has to be mission based otherwise it won’t succeed because it just takes too long otherwise.
[Matthew Blesso] Yep.
[Richard Bexon] You know, and I think that that’s the beauty of the DNA of Costa Rica is a lot of it is mission based and community, but also is the local community will reject projects that don’t align with kind of, I say the DNA of Costa Rica but like that community family base, like if you’re cutting trees and putting towers up, like the community will reject and fight back. And we’ve seen that, saw it in Manuel Antonio with the east project, you know, and we’ve seen it in other areas of Costa Rica where it’s just like look, this does not fit well here or the developer is not aligned with, you know, the values of Costa Rica. And I mean the country rejects it.
Environmental Considerations in Development
[Matthew Blesso] Yeah, I, I, well, I know. No Sara, your world, you’re, you’re countrywide and you know, you’re, you’re, I know an expert in just about every market in, in the country. I’m not and I’ve been more nosara focused. So I can speak more to that. And I would say there is a little bit of a, call it a fight between, I think there are a lot of builders, whether people building just their own home or larger projects that have really great intentions and they’re really walking the walk and doing, and doing great things from an environmental standpoint. Contrasting that there are unfortunately no shortage of examples of people that, that don’t seem to care so much and that, you know, you, you see these sites where someone buys a piece of land and they just mow down everything.
[Richard Bexon] Yeah.
[Matthew Blesso] And then they build their house and then they, then they plant new ornamental trees and it’s and it’s, you know, that’s, that’s upsetting for a lot of people when they see that. And, but it does happen. I mean that is the, and I think there’s a little, a little worm going on in terms of, you know, so for us, we really want to be, our goal is to be an example and this, you know, here’s a way of doing it that you know, fast forward and I believe we will, you know, be successful and have a thriving community. And we want people to be able to then come and look at it and say, hey, this is a way to do it that is good for the environment. But here’s the thing, it’s actually also, I believe will be more profitable that way for those that are, particularly if you’re in a place like Costa Rica where you have enough people that have a lot of values around environmental stewardship and supporting the local community.
Team Building and Cultural Considerations
[Richard Bexon] Yeah. I wanted to touch on something which is team. I mean you’ve got a great team. You know, I know a lot of those players on your team. It’s amazing how many people come to Costa Rica and a pennywise pound foolish when it comes to having consultants. I think that the advantage that you have is again is that like, you know, you’ve been through this and understand how important it is for consultants. But what is your advice to people on doing a project in Costa Rica or just making an investment here? I mean, how important is the team?
[Matthew Blesso] The team is really important and, and you’re only as good as your team. I think one of my adages as an entrepreneur is if, if you hire the right people, you almost don’t have to do anything else, right?
[Richard Bexon] Yep.
[Matthew Blesso] Everything else kind of takes care of itself. So I’ve always, I’m. One of my other adages is higher, higher slow and fire fast.
[Richard Bexon] Yep.
Cultural Adaptation in Business
[Matthew Blesso] And you know, really take your time and try to get someone that’s the right long term fit. And when I start a relationship with somebody as a, as a member of our shift team, you know, I’m hoping it’s going to be a 10 year relationship or more. That’s like, that’s, I want all my relationships to be. We’re in the relationship business for shift, that’s what we do. And, but also as it relates to consultants, you know, focus on those that have real experience and that you don’t want people learning on the job with your project and spend enough time with them. And, and also, and, and for, for the foreigners, you know, just recognising that culturally Costa Rica is so different than, than a lot of other countries. So, yeah, for me in New York, I had to learn, you know, I actually had to learn to be tough with the people, the consultants that were working with me because. And among other people, because it wasn’t my nature when I was young and getting started, but I was getting eaten for lunch because I, I had no choice. I had to, you know, become much, much tougher. So that became a necessary asset for my old life in New York development. When I got to Costa Rica, that learned skill was a liability and because if, if you act the same way, you’re going to get a very different result because culturally the two places are so different. So I guess that’s the other advice I would give. If back to your earlier question of what I wish I knew or wish I wish someone had told me that, but I didn’t, you know, I didn’t have anyone to really tell me that.
[Richard Bexon] But yeah, yeah, I mean, it’s, there’s a passive aggressiveness, if that makes sense in Costa Rica that if you do upset someone, you probably won’t know, but it will come back and bite you.
[Matthew Blesso] Yeah, yeah. And I won’t tell you.
[Richard Bexon] They won’t tell you that.
[Matthew Blesso] Yeah, I think, yeah, there’s, you know, we’re generalising, but different styles of communication. Certainly. Yep. And, and there’s a lot of things that I really like much better about my new work life than my old one. Generally people are much nicer and kinder.
[Richard Bexon] Yep.
[Matthew Blesso] And, and I, and I like also working in a small market where reputation matters. So when I say small market, I’m referring to the whole country as a small market. So the whole country of Costa Rica, to me feels a lot smaller than New York City real estate, where in New York City real estate, if you, if somebody screws somebody over, you know, like, it’s such a big market that, you know, they next week they have a new deal comes in, there’s plenty of people that will finance it. There’s not. The word doesn’t get out in Costa Rica. The word gets out. And I, I actually like the fact that it’s a market that has more of a premium for people that are operating with integrity.
[Richard Bexon] Yeah. I mean, they say that Costa Rica, as they say, is a pueblo. Like it’s a, it’s a town, like a small village, a town like everybody knows everyone and. Yeah, I mean, your reputation is everything here. You know, I mean, I personally have spent 20 years of building my reputation here. You know, I’d like to think I Have a good reputation. But, you know, that’s why I say that, you know, I have a lot of investors in projects that we do where I might. Look, guys, you have to understand of how important my reputation is to me because it’s the only thing I’ve got here, you know, and it seems to.
[Matthew Blesso] Be working for you, so.
[Richard Bexon] Yeah, yeah, but it’s like it’s taken 20 years to get here, but like I can’t, like it’s one screw up and it’s gone, if that makes sense. Yeah, you know, it’s really difficult to come back from it. So I, that’s why I’m always double checking and triple checking, you know, everything that we do. Because again, it’s, you know, I can’t afford that because it’s really, it’s like my reputation, you know, it’s not a big corporate reputation, you know, that can kind of be pasted over. It’s me individually.
[Matthew Blesso] Sure, yeah. Trust is accumulated in drops and released in buckets. Correct.
[Richard Bexon] That’s a great way of putting it. I’ve never heard that before, but yeah, definitely, definitely.
[Matthew Blesso] So.
How Would You Invest $500,000 Inheritance in Costa Rica?
[Richard Bexon] Well, Matthew, my first question. Well, my last question for you. Sorry. If you inherited $500,000 and had to invest in business or real estate in Costa Rica, what would you invest it in and why?
[Matthew Blesso] Okay. Well, I think the thing that makes Costa Rica unique and special is the amount of people that are attracted to its focus on preservation and environmental stewardship. So that really provides a great investment opportunity that most countries just don’t have. So just the idea and the, the game plan of buying farmland and reforesting it, and that could be one lot, you know, that could be just, you know, one lot that it’s like, wow, this is a really beautiful lot, but there’s nothing here. Well, you can just buy that lot. We work with Poor Veneer Design, who are amazing. You can hire Poor Veneer Design as your permaculture consultants and they can do a permaculture programme on your one lot. Start, start planning a food forest and you can sell it two years later as a future home site for somebody that will have a food forest y in, you know, at some point in the future. And so you’re doing something good for the environment and you’re also creating value for yourself. And it’s, it’s pretty easy. You actually don’t even have to do any vertical construction. So I’m using that really just as an example of, of introducing some level of environmental initiative into a project at a very scale that I think is a way of creating value where it just takes some little planning and expertise. But you’re providing. Most people who come to Costa Rico, that’s, that’s what they’re, that’s what they’re here for, that’s what they want. So it’s an opportunity to have a business where you’re giving people what they want and doing something well for the environment at the same time.
[Richard Bexon] Well, I have to congratulate you. And there’s also a little bit of envy of like the focus on sustainability. It sounds like it’s really is the core because a lot of people use that word, you know, it’s kind of greenwashed a lot of sometimes Matthew, a lot here. You know, I mean people throw the word sustainable in most projects here and it’s like, well, you know, I don’t know, you know, we put solar panels on the roof, you know, so we’re sustainable. But it seems, you know, from my interactions with you is that like it really is core to everything that you’ve done here in Costa Rica and continue to. Will be. So, you know, I would say from a, I’m a, I suppose I’m a Costa Rican now. Even though I wasn’t born here, I’m a citizen. You know, thank you very much for you know, having that focus on, you know, sustainability and driving that mission based community because again I think I, from everything that I’ve seen, you’re doing it, you know, you’re talking the talk and walking the walk.
[Matthew Blesso] No thanks for acknowledging that. Yeah, we’re trying and we’re always looking for new ideas and to do better. And you know, SHIFT is a project with a lot of big ideas and a lot of little ones too. And as we get further along we will certainly be carrying out more and more initiatives and we’re able to in part because we, we bought our land well at a good price and it allows us financial room to also, you know, have a profitable project and have a social mission. Yeah, but it’s also part of our thesis and the idea of being in Costa Rica and particularly Nosara is by having the social mission, it will ensure a profitable project which, and it’s a self fulfilling in a way. If it’s more profitable we could actually do more with the social mission.
[Richard Bexon] Yep.
[Matthew Blesso] And then if we do even more with the social mission, it can become more profitable. We can, you know, take it even another level and, and, and that’s, you know, that’s the vision for the project and yeah, much more to come. But, but thanks for acknowledging that.
[Richard Bexon] Not at all. Not at all. Well, I mean, Matthew, thank you very much for taking the time to chat with us here and kind of just explain SHIFT and kind of, you know, just the your experience in developing here in Costa Rica, because I know quite a few people want to do that. I mean, anybody that wants to get in touch with Matthew or like, know more about shift, I’ll put everything in the description down below. But very much appreciate you taking the time to join us and share some of your experiences with us.
[Matthew Blesso] Thanks, Richard, for a great conversation. Really appreciate your time as well. Thanks for having me on.
[Richard Bexon] Thank you.
[Matthew Blesso] Bye. All right. Take care.
