From One House To A Movement: Co-Ownership, Guanacaste, And The Pura Vida Mindset

A single house on a hill in Guanacaste became proof that one yes can rewrite your future. We take you onto the deck at Vista Bahia, where a hummingbird moment slowed the noise and set a standard: build something real, hold it to a high bar, and choose partners you can trust. From the very first capital raise in 2022 to today’s expansion push, the journey charts how patience, clarity, and relentless follow-through can turn uncertainty into momentum.

We break down the original thesis for Costa Rica—arrive before the crowd, follow institutional signals—and how the market ultimately validated that bet with Ritz-Carlton Reserve and Waldorf Astoria openings nearby. Returns averaged roughly 11–12% on equity as we reinvested every dollar into service, reliability, and guest experience. The hard lessons came fast: a property manager who looked great on paper let the grounds go wild, neighbors complained, and we cut ties. The turnaround with Zindis underscores a theme that runs through the episode: trust beats polish, and execution beats promise.

Along the way, Pura Vida reshaped our operating lens without dulling our edge. We kept North American standards—diligence, accountability, and data—while protecting the calm that powers good judgment. That balance mattered when we decided to go all in, raising $4.2M for the Canadian expansion and securing “impossible” debt: a credit union commitment under six percent and a vendor take-back at eight percent with smart buffers. The throughline is simple: pick your place of clarity, pick your people, and keep stacking honest wins until conviction becomes culture.

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Chapters

• 2:10 First Raise And The Power Of One Yes
• 4:15 Betting On Guanacaste Before The Boom
• 7:30 Returns Reinvested And Early Wins
• 10:06 Pura Vida As Operating Philosophy
• 13:30 Managing From Afar And Trust
• 18:39 Two Lanes, Family First, All In
• 24:08 Find your haven

Transcript

Vladlen Stark: 0:11

Welcome back to the Immigrant Hustle, an unfiltered CEO's playbook on building a business with AI. I am your host, Vladlen Stark. Last episode we took you into Canmore. Today we're changing altitude and heading south to the warm hills of the beautiful Guanacaste in Costa Rica in a place called Vista Bahia. This is the origin story. Before the legal frameworks, the pitch decks, the platform, there was a single house that raised the question Is there a better way to own paradise? Vista Bahia was that question, and it was also its answer. I'm going to take you back to the very first arrival on this very deck. The months of relentless capital hunting that made it all possible, the tiny little hummingbird that I saw for the first time that made me slow down and think. We'll talk about co-ownership before the Luxara brand even existed. How the thesis of investing in Guanacaste took shape and why the Pura Vida mindset changed the way I think about life, wealth, work, and community. If you're building something on your own, this episode is about proof. Proof that with the right mindset and the right people around you, you can get the impossible done. That's the hustle. That's why we're here. I remember the very first climb up the stairs behind me from the main house up to the pool house on this deck that I'm sitting on. It was scorchingly hot, the kind of heat that slows your breath down just a little bit, and you started noticing things. Just behind me, there used to be this big, beautiful tree with yellow flowers. And when we were up here looking around, soaking it all in, I noticed this tiny little hummingbird just flickering from blossom to blossom like a little spark of lightning. And everything just sort of quieted down and slowed down just long enough to feel like magic. And that's when it finally sort of hit me. I actually did it. This was back in 2022. I had never raised money for anything in the past. I've invested in real estate and done all kinds of other things in my professional career, but capital raising was never a thing for me, and it was certainly a foreign skill at that time. It took me over three months to find the investors to co-invest into Vista Bahia with me. It was a lot of outreach, a lot of quiet inboxes, a lot of polite no's, a lot of firm no's, until finally there was a yes. And that one yes changed everything. Walking into Vista Bahia, standing on this deck for the first time, even owning portion of it, still felt surreal. It was joy, it was pride, everything at once. And then I get a flashback to that feeling and to that moment every time I'm up here, every time I get to turn around and look at the beautiful Coco Bay, the boats gently rocking on the ocean, and hearing all the little birds to howler monkeys, and if I'm lucky, from time to time, seeing that tiny little hummingbird flying from tree to tree. Now, as I said, this was back in 2022, and for those of you who remember, this was still during the pandemic. Travel quieted down, certainly, especially international travel. My thesis at the time was that big brands were putting in big money into the Guanacaste region. And that had to mean a lot of good things for everyone else with a foothold in this area. It's no secret to anyone who's been here that that has been in the talks and in the works for what feels like decades at this point. And even in 2022, there was a lot of excitement around it, but with a pandemic, everything was put on hold. So the thesis was right, the timing was wrong. And in some ways, I think we've been very fortunate because of that. Because fast forward to 2025, in February, the Ritz-Carlton opened, and it's one of, I believe, six Ritz-Carlton reserves globally. In April, Waldorf Astoria opened up, and it's just over the hill from where I'm sitting in the adjacent town called Playa Hermosa, and specifically in this little stretch between the two towns called Punta Casique. So everything came to fruition from a development perspective, and there's still development going on. To my knowledge, there's a seven-star hotel being built in the region. But even with the understanding that some of the construction might be put on hold, we still saw the opportunity that over a longer time frame it would happen. Projects like that don't just get left dead in the water once a big brand like a Waldorf or a Ritz plants their flag somewhere. So it worked out in our favor because since 2022, we've realized pretty healthy appreciation on the equity side of things. And I think we're averaging somewhere between 11 and 12% annualized return on equity. We have reinvested all of our cash flow since 2022 into improving the property, buying new furniture, making repairs, improving the services. And it really shows. We've had a fantastic track record with guests. We have amazing reviews. Certainly a big part of that is our partnership with Zindis. Beyond the returns and the economics of this place, for me, this place will forever be special because it's a living reminder that I could get something incredibly difficult and incredibly uncertain done once I set my mind to it. I could do it once, I could certainly do it again. And that's the attitude that I'm taking to Luxara. We're building something incredible. There's a ton of uncertainty, there's a ton of doubt from everyone, but I know it's possible and I know I'm gonna get it done. The other amazing revelation about Costa Rica in general, not just Vista Bahia, is the pura vida way of life. It's probably the first thing that you hear once you get here and you start talking to people. In some ways, it reminds me of Aloha in Hawaii. My wife, Shannon, and I, we got married on Kauai, which was another magical experience and so many memories from that time. And we were married by a Hawaiian, and he really explained to us the meaning of aloha and the meaning of the nature of the ocean and everything that aloha means to the Hawaiian people. And that reminds me in a big way of the Pura Vida. So Pura Vida is a pure life or simple life, if translated somewhat directly. It's used as hello, goodbye, I'm great, have a good one. It's simple on a surface, but it certainly goes a lot deeper than that. It's about being present, being grounded, noticing what's in front of you, and not making life heavier that it needs to be. I didn't really get it until I started spending more time here over the last few years. And it's certainly something that you need to let in and you need to experience for yourself before you really understand. But it's the morning coffee on the porch or on this deck, looking at the ocean, hearing the birds, hearing the howler monkeys that you'll probably hear a few times through the podcast. Looking at the beautiful view, just letting your shoulders sink a little bit, slowing down your heartbeat, and just being in the moment. That's certainly Pura Vita to me. And I think there's a lot to be learned from that. In Calgary, it's very easy to chase that next big goal, to chase the next dollar, and not even really understanding why. Here the question is a little different. Here the question is, is it enough? Is it enough time with my kids? Is it enough health? Is it enough wealth? Is it enough progress for a day? And I don't see it as stopping to build or not having ambition. I think it just reframing it and building something with purpose and having the clarity to really pursue those things that are valuable to you. And again, in the context of business, I want to be very clear that Luxara and its subsidiaries are run very much by North American standards. And those of you who know me personally know that I take that very close to heart. We have great accountability. We look at numbers, we do our due diligence, we follow up, we are relentless. But the pura vida way, like I said, is really allowed me to have the clarity of purpose, have the clarity of the goal, filter out all of the noise, all of the nonsense, and really focus on what's important, what's important to me, what's important to my investors, what's important to our guests, and really delivering on that and knocking it out of the park every single time. That mindset and that lesson is why Vista Bahia matters and will always matter. It's a continuous reminder that you can work at a high level without losing yourself. The culture here showed me that you can hold ambition in one hand and calm in the other. And really that combination, I think, is how Luxara really started to take shape. Now, of course, the big question trying to manage this property from afar was getting the right property manager in place. And we did have a property manager from day one. They managed everything on the ground, they handled guests, they had cleaning and vendors and all the little things that go with maintaining a high standard of a property. My job was to stay close, get back to them with a higher-level strategy on where we were going to take the place, how we're going to price it, and how we were going to deliver that next level of guest experience for all of our guests. Their job, of course, was to actually execute and deliver on that experience. Now, running a place like this certainly teaches you things pretty fast. Not from a handbook, but from all the mistakes that you encounter. Our first property manager was referred to us and certainly looked fine on paper, but that very quickly proved to be untrue. We bought the place in May of 2022, and we onboarded the property manager. We had a few calls, we had our strategy set, we started getting our monthly invoices and all the bills from all the vendors. And we hadn't planned our initial trip until August of 2022. And I remember it was late August, and somewhere towards the end of July or maybe early August, I get a phone call from the previous owner of Vista bahia, who had already moved to Chicago. Not entirely sure how he found me, but he did, thankfully. And he said to me, the neighbors have been complaining that your grass is out of control. And we're not talking about a little curb appeal issue that one might experience in North America when somebody complains about your grass that's half an inch too long. Grass here grows to three or four feet tall. So this was really starting to become a jungle. And we've been getting bills for landscaping throughout the whole summer, and yet nobody came here a single time. So that certainly was the first strike against the property manager. And by the time we arrived in August, we very quickly realized that it was one of many, one of too many, if I'm totally honest. So we had to very quickly transition. And after a series of these fiascos, we were fortunate to get another referral to Zindus. And we've been exceptionally happy ever since. And that switch really taught me something quite simple. You need to trust the people who are taking care of your property. They need to know these hills, they need to know the locals, they need to know who the electrician is, who the plumber is, who's going to show up to fix your AC unit, and when. And more importantly, how much it's going to cost. You need somebody that you can trust to pick up the phone on a Sunday afternoon and get something done by that evening. When the guest needs something done, they need to be able to reach the property manager. They need to be able to call somebody and get some help. And we've certainly had a few experiences operating this property and some of the others where we've run into that. And again, we've been very grateful that we had made the switch to Zindis because they have been outstanding. And that is why it was a very easy decision for me to make them the exclusive partner of Luxara as we expand across Costa Rica and really take a lot of the learnings from the Zindus group and bring them to our Canadian expansion. I really want to echo one more time that trust matters a lot more than any glossy pitch deck or any fancy website that you can encounter out there. And I've learned that the hard way. And that's something that I live by now. I've shared the story of me coming here in March of 2025, right after my grandmother passed away. And I didn't have my usual entourage of my little humans and my wife. It was just me. I had a couple of meetings lined up with my now business partners. And outside of that, it was just a few days that I was here to wind down, to reflect, to sip some coffee on this deck, reset, ground myself, and ask myself, what really matters? Pura Vida on that trip wasn't just a happy-go-lucky slogan. It was a filter and a framework for me to really process what just happened to my family and to reframe myself and find my direction from that point forward. As I was sitting here and trying to reflect on the truth, what matters, who matters, I wrote down four words family, integrity, excellence, and legacy. Build something real, hold it to a high standard, make sure it means something to the people you love and to the people you serve. That's really the guiding principles of Luxara, and that's really how I would like to keep pushing this venture forward. When I got home just a few days later, I set all of this in motion. As I've shared through earlier episodes of the show, I've been sprinting in two lanes since April, putting in 15, 16 hour days, seven days a week, my full-time corporate job, evenings and weekends dedicated to Luxara, spending as much time as possible with my two little humans, my son, who's almost five, and my daughter, who's one and a half, and of course my wife. I wanted to make real progress, but I wasn't going to compromise my quality time with my family anymore. These are beautiful years, and I didn't want to look back at my life and regret not spending time with the people that mattered. Early mornings, late nights, little winds stacked one on top of another over the last six months or seven months. And that stretch of time did exactly what it needed to do. It proved that this wasn't a phase. This wasn't just some idea that I was going to chase for a couple of weeks and drop. I was dedicated. And I was focused. This period showed me who I could trust. It allowed me to find the amazing partners that I have and really vet them through. It made the business plan sharper and my priorities more clear. Last week, in November of 2025, I have decided to go all in. No split focus, not a jump for a thrill, but a very meaningful, calculated step. Family first, standards high, choose the right partners that I can count on and respect. Build something that holds up when people look at it closely and help everyone along the way. That's the legacy I'm working towards. That's something that I think my kids would be proud of, and that's something that I feel like my grandpa and my grandma would be proud of as well. This trip, being on this deck right now, recording this podcast, and taking a few moments to reflect afterwards, which I certainly will do while the kids are taking a little nap, it came at the most perfect time. We planned this trip long ago, before a lot of the craziness in my life in the last few weeks and months ensued. And it just worked out that right now, with so much on the line with the Canadian expansion, us raising $4.2 million by November 30th with a little buffer maybe for a few weeks in December, trying to find debt where debt could not be found, and still managing to pull out an absolutely incredible deal out of my hat. And just yesterday we have finalized two deals for debt, one with a credit union in Alberta, who will extend three and a half of the four million that we need at less than six percent interest rate and some incredible terms, at least for the first year of our debt, thanks to an absolutely amazing friend, human, and advisor to Luxara Dex. And also, we got an agreement with a developer to extend a vendor take back. We got a rate down to 8%. We got a little buffer to keep us afloat if we need to. And again, we got some pretty great terms for the one year where we need that bridge financing. Everybody told me that it was impossible. I've talked to brokers, I've talked to banks, I've talked to people who do this for a living, and still it was a no after no after no. Yet here we are. The deal is pretty much done. I've got into the next 30 days trying to wrap up this deal, raise that remaining last bit of capital, and show everyone who has doubted us, who has doubted me, that we can do it and we can knock it out of the park. So being here and having just a handful of days of the Pura Vita life and letting myself slow down just enough to see the path in front of me more clearly one more time, this place has become that haven where I can come with no worries, with no agenda, and really sort all my thoughts, set my direction, recharge myself, go home, and deliver on everything that I set out to do. And I think in there lies a lesson. It doesn't need to be a beautiful villa on the hills of Costa Rica. You need to pick a place worth caring about. It could be a cabin in the woods, it could be a tent that you pitch somewhere in a camping ground in the forest, it could be a coffee shop, but it doesn't matter. Find a place where you can have that moment of peace and clarity, stick to that place. Find the people you trust and can count on, and stick to those people. Put in the work, do what's right, help those around you, and I promise you, good things will happen. Keep showing up, and most of the big wins will seem ordinary at the time until you're looking back and you've had a ton of success behind you. And if you can't find the people, let us help you. We're trying to build a community here. I certainly welcome anyone and everyone to join, even if you never invest a penny in your life into anything that we're doing. Join us, share your stories, listen to ours. I believe in lending a hand and opening a door and sharing what I've learned and learning from those who've come before me. Share the show with somebody who's in the trenches trying to build their own thing right now. Share your own stories, lend a helping hand. And like I said, if you need help, I'm always here. I'm always ready to answer questions to the best of my ability. Send me an email. I'm always here to help. And I'll do whatever small part I can to help you on your own hustle. In the next episode in a couple of weeks, we'll talk about building the community, how we plan on rolling out our point system, our point exchange system, how we think about our expansion beyond Costa Rica and Canada into other global markets, what we're hearing from our prospective investors, what we're hearing from people who said no, and really trying to figure out where the value proposition is. I think it's time for me to turn around, work on a little bit of that tan, enjoy a little bit more of that Pura Vida before I get back into the hustle of the life in Calgary, Alberta. I'm very grateful to be here. I'm very grateful for the people around me who are supporting me and supporting Luxara in this journey. For all the listeners of this show. I hope I can share some of this Pura Vida with you through my words and through this video. And a really heartfelt thank you for spending half an hour of your day listening to me talk. It means the world to me, and I will continue paying it forward. Thank you for listening. Leave us a review, leave us a comment, send me an email, I'll do my best to respond and to take your feedback. For now, I'll see you in a couple weeks.