Development Help

rdangelo

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Jul 31, 2006
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My name is Robert and I am in charge of a development project for a firm based in NY. We are planning on extending down into the DR. Our first project is going to be in the Sea Horse Ranch. We are planning on purchasing a lot and building a approx. 8000 sq/ft villa and selling it. Now I just have a few things I was wondering if everyone could give a little insight. We have found a 2 companies that will finance the deal with 100% financing for a construction loan. We are still in the process of getting everything in place for the financing but hopefully all will go well. I was just curious if anyone had any experiance with these types of loans. Also is anyone familiar with the Sea Horse Ranch, do homes sell rather quickly? Any insight, suggestions or comments would be grealty appreciated.

Thank You
Robert
 

Chris

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Oct 21, 2002
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rdangelo, does anyone in your group have experience in development in the Dominican Republic?

Seahorse Ranch is arguably one of the best managed and most exclusive communities in the DR.
 

rdangelo

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No we are new to the Dr but we have done our research on the Sea Horse Ranch and we think that this is the best place to build the luxury villa we are interested in building. What do you think?
 

abe

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Jan 2, 2002
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Sea Horse Ranch--please explain this

There is no doubt that this development is highly regarded. However, can anyone explain why, after all these years, are there so few homes in there? Is it a planned exclusivity? Is it too rich for the area? Who has an insight?

and, Mr. NY Developer, forgive me, but it sounds like you are not all that far along in your research. For example, are you aware of the golf course that Sea Horse Ranch is doing across the street?

I don't know a whole lot either, but it is bound to help you out in the value of what you plan to build-especially if you include a golf club membership.

Good luck. Be careful--this isn't the Hamptons. But in a few years....
 

Hillbilly

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Jan 1, 2002
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Besides Sea Horse, you should look at Cap Cana...a whole lot going on there.

As for turnaround time, it depends on how well you have identified your demographic. If you pitch such a place to modestly wealthy, it may take some time. you will have to go for the major wealthy folks...that is why there are so few homes there as yet....and it is just now being recognized for what it is--a tremendious place to live.

HB
 

Chris

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Also, there are serious rules and regulations to building there, placed by the management to ensure the place remains upmarket. I am not familiar with 100% construction loans (never used a 100% loan for anything), but knowing the way of working here, be very sure that you are not cutting the pie into too many pieces and deal deal with very reputable companies for design, architecture, supplies and construction.

I can hardly imagine a half-done unsuccessful project in Seahorse like so many others dotted around the place :laugh::laugh:
 

rdangelo

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Well here is the thing, I am very well aware of the golf course going up accross the street and I think that is going to really add a lot to the development. This is a very upscale development and the reason I think that it is a good idea is because we are not looking to make a million dollars in profit. This is only a test, we are looking to just pay the bills. Once we are done with this project it will get us more familiar with the country, the best companies and builders to use. Our real goal is to make big developments like the Sea Horse Ranch, on our own. This project is just to ease us into it instead of going all in and taking chances. Does anyone else have any isight on the Sea Horse Ranch? Any Stories? Anything at all? Also can anyone list for me a very highly recommended "American Style" home builder. I have seen the question asked amiliion times on the forums but I need a very well regarded and super reliable "AMERICAN STYLE" builder.
As for Cap Cana, isn't that on the South Coast?

Thanks for everything guys!
 

Hillbilly

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Jan 1, 2002
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Each of us has a builder in mind. What you need to do is get your butt down here, meet with four or five of them and make your choice.
The key to successful building is the supervision of the day to day project, the logistics and the finishing touches. You cannot depend on someone else to get it done.

HB :D:D
 

Robert

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Speak to Lisa Kirkman at Sea Horse directly about builders. I know the guy from Moca, who's name I cannot remember (Benscome??) builds a lot of houses in Sea Horse.

He is very good, I have seen his work. When he builds or develops anything, it sells, just because it has his name on it. Plus he knows how to finish, the details, which is VERY rare in this country.
 

rdangelo

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Jul 31, 2006
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Ok well I am not really sure and I do not know too much about hacienda del choco. Is it up there with Sea Horse Ranch as far as the prices and the appeal?

Also Any other builders would be great.

Also did anyone on this forum ever get any prices from any builders in the ranch. They advertise 80 - 100 dollars per square foot on the Sea Horse Ranch website. From my research I understand that that is a very very infalted price. But does anyone else know any other prices there?
 

ecarignan

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Haciendas el Choco may be worth looking at but it's in no way comparable to SeaHorse Ranch, it's a nice development but please do not comparable apples and oranges.

As for building at $80-100 per sqft, it may very well run you in that price per sqft, so be prepared to fork out for dollars, there could be a lot of "unaccounted for" extras in SeaHorse Ranch. Good luck.
 

ecarignan

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Robert, I think people of this board have tried to help you but in order for a builder to sit down and put numbers together you will need house plans and have a piece of land that you own. I too would not suggest buying unless you come down and meet with SeaHorse Ranch, buy a piece of land, have plans ready and then sit down with builders. Chances are your builder will have to be approved by SeaHorse Ranch, I wouldn't think they will let any builders build in that upscale development. Good luck but it's time to do your part now.
 

rdangelo

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I know everyone has been helpful and I appreciate that. I have done my part, have been to the Sea Horse Ranch several times. I have my piece of land picked, I wa sjust wondering if anyone had any relaible builders that they trusted.

Thats all
 

Chris

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Oct 21, 2002
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rdangelo said:
I know everyone has been helpful and I appreciate that. I have done my part, have been to the Sea Horse Ranch several times. I have my piece of land picked, I wa sjust wondering if anyone had any relaible builders that they trusted.

Thats all

I think you will find that the Seahorse perhaps has builders that they recommend. Also, this question has been asked a number of times and I know there are a number of threads recommending builders. Perhaps do a search for builders .. you'll for sure come up with a few recommendations.