Hello DR1 from NY

dalethefarmer

Member
Jan 27, 2014
92
20
18
Hi all, my name is not dale and I'm not a farmer,

I've been lurking DR1 for a couple of years now and have enjoyed all the convos(good, bad, and the CC :p) and I'm happy to finally join! I finally took the plunge to be part and hopefully contribute to this community and offer by story(warning: contains dreams of becoming an expat).

I currently reside in New York City, you know the city that never sleeps(like that's a good thing...) and have endured 23 years of cold, dark winters since leaving my native DR in 1990. I've lived a pretty normal american life, graduated from the university at Farmingdale(now you get the screename) with a Bachelor's degree in Computer Engineering and working in a fairly related field of project management at a global financial firm(corporate). I have a wife, one kid(3 years old), and renting. Now here is where it get's interesting(IMO):

I have about 50K saved up and will be looking to buy a house, you know what normal americans do, the american dream! Yea, right. The way I look it at: A sound investment for my future and a 15 year(minimum) sentence to more cold, dark winters.

This is my fork in the road sort of speak, do I invest in real estate here in NY where I am happy, no complaints since I love my family, but the mundane, unhappy train rides, dark at 4:30pm, stress, concrete everything, over and over for 20+ years is beginning to take a toll on me AND my wife - or escape and move to the DR, and have a fresh start, a reboot to my life?

BTW, I left the DR when I was 5 years old, my mother sold all of the real estate we had to come to NY, so I would in essence be starting from scratch, a native expat if you will. I have been completely americanized I know, I might be very dominican here in NY, but dominicans from DR have that extra thing in them, which I lack, you know, like I could never own a banca in Sto Dmgo, the culture is just unusual, unique, special, strange, rare, extraordinary, bizarre, distinctive, something else, peculiar... Even though I was born there, I feel like an alien. :alien:

I did visit for 3 months every year until I was about 14-15 yr old, this is when I 'rebelled' and went full in to the hip-hop culture:)laugh:) resisting to spend my NY summers in the DR(ugh!). Now I can't stop going (twice a year), reading DR1, hearing bachata, merengue ripao, and eating platanos every which way, everyday. Is my country calling for me? I hear it(come back, come back).

It will be an interesting couple of months as I battle with these two different roads I could take in my life, and I wanted to leave this here to see what you guys think. All opinions are welcomed, even the ones with too many punctuation marks. (That 2 shots from a rookie!) :laugh:
 
Welcome to dr1!
IMO moving to DR with a wife and kid and only $50 grand is not a great idea unless you have a GOOD job lined up. You will go through that money FAST and I mean FAST! It is really expensive to start up here!

Hopefully you have great connections here though?! Would you be able to get a good job?

Trust me I know how you are feeling since I did just move here somewhat for the same reasons you are speaking of.

Good luck whatever path you may go down :)
 

dalethefarmer

Member
Jan 27, 2014
92
20
18
Hopefully you have great connections here though?! Would you be able to get a good job?

I know a few people, my madrina works at the palacio, my sister is married to this rich nicaraguan who would love for me to look over his 5 story building in SD, I would live in one of the condos, and I'm not sure, can I get a good job? Also, I would like to stay away from the capital, I would like to live in the north coast, maybe?

So is your wife a dominicana or a rubia?

Dominicana, came here when she was 14, mom is a anesthesiologist and still in DR. I would think that being a Doc and all you would be instantly set for life(financially) like in the US, but it's not the case, I mean she lives en 'aquel lao'(east of the ozama) of SD, maybe I don't know the whole story?
 

donP

Newbie
Dec 14, 2008
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I have about 50K saved up and will be looking to buy a house, you know what normal americans do...

50k?
Now, that's a pooty lot..... :laugh:
"Normal Americans" do not buy a house for that amount.

Add another 0 and you are all right.

donP
 

dalethefarmer

Member
Jan 27, 2014
92
20
18
Mortgage

50k?
Now, that's a pooty lot..... :laugh:
"Normal Americans" do not buy a house for that amount.

Add another 0 and you are all right.

donP

That's good for a down payment. 25 year mortgage, pay it in 15 give or take, that's how normal(middle class, wage earners) people do it.

I'm really surprised US$50K is not much in DR, maybe I would have to rethink and see if I'm willing to be 'resourceful'.

What are mortgages like in DR? Unattainable? Would investing in say a condo that "pays itself off" a bad idea?

Everyone I know and lives there tells me I should either start a business or work for a multi-national company that's not based in the DR. But for all this the cu?a has to be strong, let me start making some calls to my tios/primos LOL
 

skinny36

New member
Mar 2, 2010
260
20
0
Welcome...
Because you are well educated and would have no problem coming back to the USA, I would say "just do it" we never know how long we will be on this earth.....best of luck to you and your family!!
 
Welcome...
Because you are well educated and would have no problem coming back to the USA, I would say "just do it" we never know how long we will be on this earth.....best of luck to you and your family!!

While I agree that you only live once, blowing through all your savings and living in the DR poor would REALLY SUCK! He's got a kids future to think about!
 

windeguy

Platinum
Jul 10, 2004
42,211
5,969
113
Yes NY state sucks. I lived there for 38 years. I hate the weather in the North East. If I were you, I would GO WEST.
California has great weather even compared to the DR and also might have a job for you while the DR probably won't. I was in California for 10 years before I came to the DR and my time there is what allowed me to live in the DR.

Then when you are ready to retire, you can consider the DR.
 

ccarabella

Newbie
Feb 5, 2002
733
12
0
California (do I miss thee) is the place to be! Real estate there is very expensive so you may not
be able to save that much to come live in DR but the quality of life (to me) beats NY. I've lived in both places.

It looks like you have most of your ducks in a row so if this is a dream for you why not try it out for a few months. You can always come back and land a job in your field.

Good luck!

Yes NY state sucks. I lived there for 38 years. I hate the weather in the North East. If I were you, I would GO WEST.
California has great weather even compared to the DR and also might have a job for you while the DR probably won't. I was in California for 10 years before I came to the DR and my time there is what allowed me to live in the DR.

Then when you are ready to retire, you can consider the DR.
 
Last edited:

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
You have at your age a lot of options. Considering that you have a good trade to work in, one that will only grow as time goes on; plus the fact that you do have contacts here and know a lot of the culture--albeit from a distance; and the fact that you have saved up a pretty nice pile of cash.

But look at it like this: Think Florida or Texas or California for a few years. In your field there are jobs all the time and some can lead to huge advancement, Florida will soon replace NY as the third most populous state and its economy is moving along.

Look in to horizontal or vertical transfers. There are probably some places in your corporation where people do not want to go. You might volunteer to go there in exchange for more salary or some promotions down the line,

Here in the DR, 50K will get you a tiny apartment outside of the better areas or a down payment on something much nicer,.

As a Dominican you can get mortgages but the interest rates here will give you a heart attack (high teens under the best of circumstances)

Don't let this miserable weather get you down, Think of spring and summer at Jones Beach or out at Montauk Point. Or up in the mountains. Use you vacations to come here to the areas you are interested in and start looking for something.

You could start a dollar savings account at one of the banks: Popular or Santa Cruz or BHD, they pay a lot more than in the US....You could change half of that money and get Central Bank CDs through a local bank that might pay up to maybe 10%>?? In a few years you will double your money--after all, here you spend pesos, so why not?

Lots of stuff going on. What I would not do is invest one penny in property in the DR right now.

An important thing is to go very slow, above all, very very slow. Feel your way and do not trust family or your new BFF.

Cordially, and hoping for the best,


HB
 

LTSteve

Gold
Jul 9, 2010
5,449
23
38
Hi all, my name is not dale and I'm not a farmer,

I've been lurking DR1 for a couple of years now and have enjoyed all the convos(good, bad, and the CC :p) and I'm happy to finally join! I finally took the plunge to be part and hopefully contribute to this community and offer by story(warning: contains dreams of becoming an expat).

I currently reside in New York City, you know the city that never sleeps(like that's a good thing...) and have endured 23 years of cold, dark winters since leaving my native DR in 1990. I've lived a pretty normal american life, graduated from the university at Farmingdale(now you get the screename) with a Bachelor's degree in Computer Engineering and working in a fairly related field of project management at a global financial firm(corporate). I have a wife, one kid(3 years old), and renting. Now here is where it get's interesting(IMO):

I have about 50K saved up and will be looking to buy a house, you know what normal americans do, the american dream! Yea, right. The way I look it at: A sound investment for my future and a 15 year(minimum) sentence to more cold, dark winters.

This is my fork in the road sort of speak, do I invest in real estate here in NY where I am happy, no complaints since I love my family, but the mundane, unhappy train rides, dark at 4:30pm, stress, concrete everything, over and over for 20+ years is beginning to take a toll on me AND my wife - or escape and move to the DR, and have a fresh start, a reboot to my life?

BTW, I left the DR when I was 5 years old, my mother sold all of the real estate we had to come to NY, so I would in essence be starting from scratch, a native expat if you will. I have been completely americanized I know, I might be very dominican here in NY, but dominicans from DR have that extra thing in them, which I lack, you know, like I could never own a banca in Sto Dmgo, the culture is just unusual, unique, special, strange, rare, extraordinary, bizarre, distinctive, something else, peculiar... Even though I was born there, I feel like an alien. :alien:

I did visit for 3 months every year until I was about 14-15 yr old, this is when I 'rebelled' and went full in to the hip-hop culture:)laugh:) resisting to spend my NY summers in the DR(ugh!). Now I can't stop going (twice a year), reading DR1, hearing bachata, merengue ripao, and eating platanos every which way, everyday. Is my country calling for me? I hear it(come back, come back).

It will be an interesting couple of months as I battle with these two different roads I could take in my life, and I wanted to leave this here to see what you guys think. All opinions are welcomed, even the ones with too many punctuation marks. (That 2 shots from a rookie!) :laugh:

$50,000 won't get you anything on the North Coast in a preferred location. Hold on to your money. You will need it for education for your child. Sounds like you have a decent job in NY. Keep it. Everything looks greener, as they say. Continue to vacation in the DR but I would not invest here if I were in your position.

LTSteve
 

mountainannie

Platinum
Dec 11, 2003
16,350
1,358
113
elizabetheames.blogspot.com
I know a few people, my madrina works at the palacio, my sister is married to this rich nicaraguan who would love for me to look over his 5 story building in SD, I would live in one of the condos, and I'm not sure, can I get a good job? Also, I would like to stay away from the capital, I would like to live in the north coast, maybe?


Dominicana, came here when she was 14, mom is a anesthesiologist and still in DR. I would think that being a Doc and all you would be instantly set for life(financially) like in the US, but it's not the case, I mean she lives en 'aquel lao'(east of the ozama) of SD, maybe I don't know the whole story?

You might consider coming here and getting a masters' degree BARNA BUSINESS SCHOOL - Consejo Acad?mico Empresarial (CAE)

The job is the key.. if you can get a good job..then it sounds like you have a place to live. But the good jobs are likely to be in the Capital. I can understand wanting to live here, and raise your child here,,,,particularly since you have a good extended family which I think is really important for a child.

You are young enough to make a change.

But I would also check out Florida.. just in case this is a case of the winter blues.

you are having a horrible winter... my sympathies..

but it does sound as if you are not ready to take on that mortgage.