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Thread: Brick by Brick

  1. #21
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    Quote Originally Posted by LTSteve View Post
    Anything is do-able but most of the examples being cited are about Domincians who can keep an eye out and know the way things work in the DR. Based on the many posts this gentleman has made he really has no idea of life in the DR. If you want to come to the DR and rent an apartment and have boots on the ground to monitor what is happening than may be possible. Being in the states and thinking this is a good idea is just ignorant bliss.
    LTSteve,

    I'm only shopping for information, specifically the technique my Dominican friend has done while living in the states. I am not insinuating that I am committed to taking the same approach. Apologies if you were mislead or confused. I don't know your background, education level or life experiences.

    I was born at night, but not last night. Although a US cit, I have not lived in the states for the past 10 years. I've mostly worked in 3rd world countries and have had my BOG in exotic and not so exotic places. I don't claim to be smarter than anyone else, but different experiences bring different opinions. Hell, I'm even considering Liberia as a retirement place. Real estate is dirt cheap, it's very cheap to live and they have a more effective way of handling crime than the DR does. Somebody steals something, the "Teef" get's shot or severely beaten. Nobody cares and few try and test that unwritten law.

    Now for some negative DR rant.... With that being said, IMHO, I can say that there are better alternatives to DR. I like the proximity to the states, the people, the climate..... But..... the more I learn, the less I think DR is such a haven to live out a retirement. Maybe back in the 80's. But it's now 30 years later and things changed, for the worse?. Through my travels in the DR for the past 8 years, it seems like each time I go there, the more gringo tax. it started with the tourist tax. And then the unwritten gringo tax, overpriced goods, folks trying to screw you on the exchange rate, wrong change at restos, etc.... Formal taxes: If i understand the tax laws correctly, "Individuals will be required to pay taxes on their worldwide income if they are a resident of the Dominican Republic and have been a resident for at least three years." Guzman's website further states, "Pensions and social security benefits are expressly exempted". Dominican pensions/SS or foreign pensions/SS? Just like any other westernized country, the tax laws change and not to the advantage of the tax payer. I'll bet dollars to doughnuts, 20 years from now, tax will be owed on foreign pensions. Why, because it's an untapped revenue source and the tax hombre can do what he wants. Wait until the Dominican baby boomers (if there is a such a thing) retire from working in the US and bring their pensions to DR.

    Back on subject....

    It it's not the best idea to build a shell and finish little by little, then maybe there's some bargains in buying a half finished home and finishing it off?

    The main reason I am researching this because I have about 10 years to do it. I'm not retiring tomorrow and my work doesn't leave me in one place too long. I would rather build a place on today's dollar than with 10 years inflation.

  2. #22
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    I was also born at night, but not last night.

    Buying half finished and finishing is certainly possible. Lots of opportunities for that.

    As for what taxes will be, we cannot predict the future. Trump says he wants to simplify the tax code in the US. Good luck with that.

  3. #23
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    Quote Originally Posted by Buzz65 View Post
    LTSteve,

    It it's not the best idea to build a shell and finish little by little, then maybe there's some bargains in buying a half finished home and finishing it off?

    The main reason I am researching this because I have about 10 years to do it. I'm not retiring tomorrow and my work doesn't leave me in one place too long. I would rather build a place on today's dollar than with 10 years inflation.
    I think you are dreaming of retirement already now like some of us others also are doing from time to time. It must be better to invest your money now and let them grow and when it is closer to your retirement you build the house you want to build. To build something over that long period of time that you are referring to makes very little sense with the risks, headaches it comes with. When it is time for retirement you may even have found a nicer place where you want to retire.

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  5. #24
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    Good advise. Thanks.

    But I am not a dreamer, I'm a researcher. I could retire today at 51, but choose not to.

    Since I work abroad, I'm considering buying at today's price vs 10 years from now. Furnished apartments in Costambar for $40K, don't think that pricing will last 10 years. I can buy now and visit it once a month while off work. I like the North coast, but flying to POP is expensive and few airlines. AA MIA-POP $700 v $200+ to SDQ or a little more to STI. Have fam in MIA.

  6. #25
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    its rent for me . this way i can pack and leave at anytime.. when I invest its in the USA only.... to many crazy things here........
    but i do the love way of life just not for investing My Two Cent

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  8. #26
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    Quote Originally Posted by Buzz65 View Post
    Good advise. Thanks.

    But I am not a dreamer, I'm a researcher. I could retire today at 51, but choose not to.

    Since I work abroad, I'm considering buying at today's price vs 10 years from now. Furnished apartments in Costambar for $40K, don't think that pricing will last 10 years. I can buy now and visit it once a month while off work. I like the North coast, but flying to POP is expensive and few airlines. AA MIA-POP $700 v $200+ to SDQ or a little more to STI. Have fam in MIA.
    Ok, if $40K is a relative small portion of your money and you like the area it could be an option (if you are pretty sure about future value). The airfare would not matter to me (also live in US) because there are a limited number of times you are going to fly per year, right? Especially when you say you could retire already now. Indicates to me that the difference in airfare cannot be a big problem.

  9. #27
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    Quote Originally Posted by Milo Mitt View Post
    The airfare would not matter to me (also live in US) because there are a limited number of times you are going to fly per year, right? .


    Plus, if you're coming down for 3, 4, 6 months you can afford to lose a full day by flying into Santiago or Santo Dom and take the bus north. Or 80 usd for a taxi from STI.

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