construction business

antvictor

New member
Mar 17, 2006
3
0
0
This is really interesting forum!
I am glad that I found it and this is my first post.
I am a little bit tired of North American lifestyle and dream to move to south.
I wonder if I can survive financially in Dominican Republic
doing construction business.
For example, I have the idea to buy some land then build the house and sell it. What is the risk here? From reading some threads I realized
that the material and labor is relatively cheap here.
How difficult to sell the house?
Is it possible to make full construction cycle and sell the house during 3-4 month?
 

oriole100

Bronze
Oct 9, 2005
807
18
0
Getting a clear title to the land is the hard part. Could take a year or two. Then it depends like the us location, location. You can make money, but I dought if you'll do it over night. Things take time here.
 

antvictor

New member
Mar 17, 2006
3
0
0
oriole100, thanks for warning.
This I found from:
http://travel.state.gov/travel/cis_pa_tw/cis/cis_1103.html
...
Real Estate: Real estate investments require a high level of caution,
as property rights are irregularly enforced.
Investors often encounter problems in receiving clear title to land,
and title insurance is not available.
Real estate investments by U.S. citizens have been the subject of both
legal and physical takeover attempts.
Squatters, sometimes supported by governmental or non-governmental organizations,
have invaded properties belonging to U.S. citizens,
threatening violence and blocking the owners from entering their property.
In at least one instance, the U.S. citizen landowner
was physically assaulted.
Several U.S. citizens with long-standing expropriation disputes
with the Dominican Government have not received compensation
...

The situation is really so complicated or this is exaggeration?
 

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
83
dr1.com
Actually, title insurance is available. Stewart Title have an office here and they are very busy :)

If you use the right lawyer and of course due diligence, the process is often fluid and without complication.

This forum has 100's of threads on this topic, do your research and I'm sure you will not have any problems.