A Vancouver man residing in Costa Rica who was shot to death by intruders last week lived a lavish lifestyle, according to a private investigator.

Brad Deering, originally from Vancouver, was killed Thursday in a home invasion in the upscale suburb Escazu, southwest of San Jose, local media reported.

Mr. Deering, 42, flaunted his wealth and worked in the investment industry, according to a private investigator in Escazu.

Story continues below advertisement

"Extremely flamboyant ... three high-end sports cars. He stood out," Doug Smith, who works for a private investigation firm called Willspy, said in an interview with The Globe and Mail.

Mr. Smith said a number of his clients knew Mr. Deering but did not do business with him.

According to local media reports, three armed men gained access to Mr. Deering's estate on Thursday morning by dressing as security officers and tricking a guard.

Once inside the complex, the gunmen tied up the guard and four other people including a woman and Mr. Deering.

Story continues below advertisement

When Mr. Deering freed himself and attempted to escape he was shot three times.

The armed intruders then fled.

No one else was injured.

That same day, Ottawa upgraded its warning for Canadians travelling to Costa Rica, stating that while there was no nationwide advisory for the country, Canadians "should exercise a high degree of caution and be vigilant at all times due to increasing levels of violent crime."

Story continues below advertisement

The Judicial Investigation Police (OIJ), a unit of the Supreme Court of Justice of Costa Rica, is investigating the case.

"The [local] police here are as worthless as a screen door on a submarine but OIJ are extremely good," said Mr. Smith.

The motive for the home invasion and murder is currently unknown, authorities said, according to local reports.

However, Mr. Smith said he believed that Mr. Deering's business dealings, which he described as the selling of "futures" and other investment instruments, might have played a role in the crime.

Story continues below advertisement

"I'm very, very confident, 150 per cent, that this was a disgruntled investor," Mr. Smith said.

The Department of Foreign Affairs and International trade issued a statement in response to the death.

"Our thoughts are with the family and friends of a Canadian citizen who passed away in Costa Rica.

"Canadian consular officials are in contact with local authorities to gather additional information and are providing consular assistance to the family as required," the statement said.