Some questions to Juan Dolio residents..

Hernandez · Mar 30, 2014

Some questions to Juan Dolio residents..

1. What is the maximum internet speed available in new apartment buildings like Marbella/Costa del Sol/Ocean Tower etc.? download/upload speed please.

2. The best apartment building/complex in your opinion? For example, Marbella is nice but most apartments don't have windows in bedrooms (it's weird for 200K$ apartments)... Ocean Tower maybe? pros and cons? Any cheaper places right on the beach (in Juan Dolio, not Guayacanes)?

3. Where is the nearest big supermarket to buy food? Any local food stores?

Thanks!

TP666 · Mar 30, 2014

1= DSL dominican slow line

2= Pre 1990 all other crap construction Costa de Sol and others just look at all the cracks

3= Iberia SPM Ole in Boca Sida

Hernandez · Mar 31, 2014

TP666 said:
1= DSL dominican slow line

2= Pre 1990 all other crap construction Costa de Sol and others just look at all the cracks

3= Iberia SPM Ole in Boca Sida

1. any exact numbers on maximum speed?

2. I really did not understand what you wanted to say here. I was asking about new buildings like Marbella, Ocean Tower, etc.. What cracks?, what pre?1990 crap?

Domphil · Mar 31, 2014

I have wifi at Marbella. Not sure of speed, but as fast as my USA wifi. I have seen no cracks in Marbella construction and the complex is well managed.

Hernandez · Mar 31, 2014

Domphil said:
I have wifi at Marbella. Not sure of speed, but as fast as my USA wifi. I have seen no cracks in Marbella construction and the complex is well managed.

Are you talking about complex's wi–fi? But is it possible to install your own line in your apartment there?
By the way, how much is the monthly maintenance fee there?

Domphil · Mar 31, 2014

I have wifi in combo with my cable About $50usd/ month. My condo fee is $600/mo for a 2000sq ft condo

Hernandez · Mar 31, 2014

Domphil said:
My condo fee is $600/mo for a 2000sq ft condo

$600?? wow! 2000sq ft is a 3 bedroom unit, right? I was told that for 2 bedroom it's about $400 monthly.

giallo · Mar 31, 2014

hernandez said:
$600?? Wow! 2000sq ft is a 3 bedroom unit, right? I was told that for 2 bedroom it's about $400 monthly.

i have two apts in marbella and one in costa del sol ii , both condos are being run by the same company and i have no complaints, the maintenance in marbella for a two bedroom is around $360 amonth and i have a larger corner unit two bedroom and its $400 , costa del sol ii is a large two bedroom and its $400.

Hernandez · Mar 31, 2014

giallo, I saw apartments in both complexes today, Marbella and Costa del Sol II. Actually, I did not like many things there...

First of all, I was told that most 2 bedroom units don't have covered parking space and don't have any assigned (fixed only for your apartment) parking space. That sucks. For $235K apartments no assigned parking space sounds weird. There are some parqueos techados, but I was told that they are for 3 bedroom units and for some owners who somehow bought those parking spaces from the Constructora.

Ok, next... the maintenance for 2 bedroom unit is $360 monthly. Some units are available for rent for $1350 monthly (on supercasas.com) with 12 month contract minimum. Plus the owner pays annual real estate tax if he bought it not from the Constructora but from previous owner (re-venta), I was told that in this case there is no annual tax exemption. So, if I want to rent it to somebody, monthly income from this $235K investment will be $1000 monthly or even less. That sucks! I have small two bedroom apartment in Zona Universitaria that was bought for $85K and it was rented furnished for $900?$1100 to foreign students. for $250K I can buy 3 apartments in Zona Universitaria and rent them... so when real estate agents tell me that Marbella is a good investment, they make me laugh.

Another point that I did not really understand is that you have to pay electric bills to Marbella, not to EdeEste, they resell the electricity and have their own meters for every apartment. Why?? and is that the same price like EdeEste or higher?

There are many other weird things about this place.... I am still thinking what is better, to buy or to rent there, since now I am starting to think that buying an apartment there is not a good idea at all...

giallo, can you correct me if I am wrong at some points? Thanks.

Domphil · Mar 31, 2014

Yes 3 bedroom. 3full baths. Large balcony I truely enjoy Marbella and Juan Dolio. I spend about 2weeks a month there.

Domphil · Mar 31, 2014

I didn't buy for an investment. I bought because I enjoy living there.

Hernandez · Mar 31, 2014

This is why I wanted to buy an apartment there. I just want to see all pros and cons. I mentioned that it's not good investment because all real estate agents try to bullsh1t me that it's a good investment, but if I try to do the math, I see that it's not as good as they say.

Another point that's it's difficult to see what is the REAL market price for each unit. For example, one owner wants $235K and another one wants $270K for absolutely identical units on the same floor. And the reason why one of them wants $270K is because he paid $260K for it. It's typical Dominican bullsh1t, who cares how much he paid 3 years ago, if he wants money NOW? And after each re-sale the next owner wants more, because he wants what he paid plus his realtor commission plus something on top of it, but it has nothing to do with the current market price. It's easy to explain if the owner is a foreigner, but it's impossible to explain to Dominicans. And some listings at their sites say that 2 bedroom units start from $210K, but when I come to the place to see them, realtors start to bullsh1t me that those units are already sold, or they don't have keys now, and they start to show me the practically the same units but for $250K or more!!!!

Another point is that most apartments are furnished with some sh1tty furniture and owners include what they paid for it when it was NEW... but even if they paid 30K for it, now it's not worth even 3K, nobody needs used furniture, just f#cking throw it away! But those dumb sellers and realtors want 20K or 30K more because of that crap inside the apartment!

It's not easy to deal with this. Any comments and suggestions are appreciated.

Domphil · Mar 31, 2014

Just tell the realtor you want to pay $210k for a furnished 2 bedroom and to call you when it's found or you will find another
realtor. Bet you will get a call within a week. With 400 condos at Marbella and another 300 on the drawing board. It's a buyers market.

Hernandez · Apr 1, 2014

Thanks, Domphil. Can you tell me please, what is the truth about parqueos techados there? Are they really only for 3 bedroom units, or some 2 bedroom units have assigned covered parking too? I was told that, for example, one owner has his parking for sale in Torre 3, but I am not sure how this sale can be legal, because if its parking space is already in his apartment title, it can't have its own papers, it belongs to his apartment and can't be sold separately legally...

Domphil · Apr 1, 2014

Not sure about the possible sale of parking spaces. I have two, 1inside and 1 outside. Ask Bernie Seirra at Juan Dolio realty.
He sold me mine with little or no BullSh,t.

Xavier_Onassis · Apr 1, 2014

I fail to see how an apartment near the ocean in a hurricane zone with monthly fees could be any sort of reasonable investment. On the other hand, Juan Dolio is a beautiful place to live, and I can see where someone for whom money is no object might enjoy living there.

Hernandez · Apr 1, 2014

Xavier_Onassis said:
I fail to see how an apartment near the ocean in a hurricane zone with monthly fees could be any sort of reasonable investment.

Monthly fees are $360 for 2 bedroom unit. So for the whole complex with more than 400 apartments it's about 200000 dollars monthly... I believe for that much money they can repair the building and its territory in case of hurricane damage.

Actually, what type of property could be any sort of reasonable investment in DR?

In Panama yes, in Colombia maybe, but in DR?

Xavier_Onassis said:
On the other hand, Juan Dolio is a beautiful place to live, and I can see where someone for whom money is no object might enjoy living there.

I agree with you.

giallo · Apr 2, 2014

hernandez said:
giallo, i saw apartments in both complexes today, marbella and costa del sol ii. Actually, i did not like many things there...

First of all, i was told that most 2 bedroom units don't have covered parking space and don't have any assigned (fixed only for your apartment) parking space. That sucks. For $235k apartments no assigned parking space sounds weird. There are some parqueos techados, but i was told that they are for 3 bedroom units and for some owners who somehow bought those parking spaces from the constructora.

Ok, next... The maintenance for 2 bedroom unit is $360 monthly. Some units are available for rent for $1350 monthly (on supercasas.com) with 12 month contract minimum. Plus the owner pays annual real estate tax if he bought it not from the constructora but from previous owner (re-venta), i was told that in this case there is no annual tax exemption. So, if i want to rent it to somebody, monthly income from this $235k investment will be $1000 monthly or even less. That sucks! I have small two bedroom apartment in zona universitaria that was bought for $85k and it was rented furnished for $900?$1100 to foreign students. For $250k i can buy 3 apartments in zona universitaria and rent them... So when real estate agents tell me that marbella is a good investment, they make me laugh.

Another point that i did not really understand is that you have to pay electric bills to marbella, not to edeeste, they resell the electricity and have their own meters for every apartment. Why?? And is that the same price like edeeste or higher?

There are many other weird things about this place.... I am still thinking what is better, to buy or to rent there, since now i am starting to think that buying an apartment there is not a good idea at all...

Giallo, can you correct me if i am wrong at some points? Thanks.

yes, marbella and costa del sol both make money on the electric , parking is not assigned , in marbella the 3 bedroom do have assigned and covered parking and i have heard of some two bedroom haveing covered and assigned parking , but that was negotiated when the apt was bought from metro. I think the price for rental of $1350 per month is low , i have rented my apts in both complexes and never at those prices. So i am sure you can do better , what apt did you see in costa del sol ii ?

Hernandez · Apr 2, 2014

giallo said:
yes, marbella and costa del sol both make money on the electric

How much exactly? There's no gas, so the stove and the dryer are electric, the central a/c is for all rooms together (even if you don't need it in bedrooms during the day you still run it if you need it in the living room), so even at EdeEste prices the bills could be about 400 dollars in you live there permanently... how much they charge per kilowatt in Marbella?

giallo said:
what apt did you see in costa del sol ii ?

I did not like costa del sol, those caoba doors is a turn-off for me. I don't want to see any caoba anywhere around me, even in hallways or lobby.

tysonrobinson.com · Apr 15, 2014

Answers to some of your questions....

Internet speed..... I'd say the speed is comparable to DSL speed or slightly faster. I haven't tested speeds.

Rent for $1350..... I keep my unit rented about 75% of the time and bring in around $2200/ month. I do it myself. Everybody I hear trying to rent it through Marbella has much higher vacancy periods. I work in real estate in the states and don't mind managing/marketing it.

Electric bill..... usually runs me around $200/ month. My calculation from a current bill was 10.25 DOP per kwh. I'm not certain whether it's tiered or not. Looks like it isn't, but could definitely be wrong.

Parking.... I have a 2 bedroom unit and don't have an assigned spot. Open parking, which I don't mind since I just spend a few weeks there periodically. I believe only the larger units have the assigned parking unless it was negotiated prior to purchase with other purchasers.

Investment.... probably not the greatest investment ever, but not bad. My numbers work out alright, but it has taken a bit of time to build a constant flow of tenants and I'm priced better than most.

Hope that helps! All the best!

Some questions to Juan Dolio residents..

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