Real estate

You have money to buy an apartment complex or are you just offering your services to manage one?

i think its obvious that he wants to buy

rellosk said:

You have money to buy an apartment complex or are you just offering your services to manage one?

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haydee122283 said:

Saludos a todos!

I'm currently a senior in college... Now that I'm receiving my bachelors degree I have decided that my ultimate goal is to live happily in Santiago, Dom. Rep. Now, in order to do that I would need some sort of steady income so.... I was thinking why not have an apartment complex to rent out???

Could you guys please give me any points/ideas on how I could started? Thank you!:classic:

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The number one axiom from Dominican Economics 101....To create a small fortune in the Dominican Republic, invest a large fortune.
Seriously, due to high interest rates and lack of bank financing, the return on investments in an apartment complex is very iffy. For the cash price that you have to pay for the apartments you can usually do better with a steady income from direct investment of the cash without the hassle of tenants, repairs, etc. The sucessful apartment owners seem to be the ones that were able to do their own construction, keeping investment costs down.

Also keep in mind that under Dominican law, it literally can take you over 2 years to evict a person not paying any rent. I know of someone who rented out a house to a french couple and never saw a cent (let people move in without paying deposit) and it took him 20 months to get them out as the couple had good lawyers with police contacts and the lessor knew nobody.