Investment property north coast

Jezzer

New member
Aug 28, 2006
10
0
0
I am thinking of buying a property on the north coast as an Investment (appartment or small villa with a maximum budget of $160,000)

I would not be living in DR so I would have to select a management/rental service carefully. Any recommendations.

Prices have gone up quite a lot recently. Do you thnk it's still pratical to get a good return from rentals alone.

How negotiable are the advertised prices I see on the real estate web sites.

I am thinking of something close to the beach in Cabarete. Do you think Sosua is a good option as well.

Any tips or recommendations are welcome
 

ecarignan

New member
Jan 9, 2003
302
0
0
www.commtech.ca
Will try to answer your many very pertinent questions.

Yes you can still find a decent 2 bedroom on the other side of the road for $160K at places like ProCab and Costa Azul in Cabarete, and Casa Linda in Sosua, I'm sure there are others but those are the ones that come to mind. Expect a 15 min walk to a beach of 5-10 min drive.

Is is a good investment to buy and rent out? No it's not, it can be but usually it's not BUT it will cover your costs and give you a nice place to go for vacation PLUS give give a capital growth investment for when you resell the property. Don't expect to make much income from renting out, some do but most don't including myself.

Prices on web sites are negotiable but don't expect to pay half price. Some properties are priced right while some are a real joke. Spending some time on the north and constantly looking to listings on DR1 and realtors web sites will give you a good idea of the market. You can always get feedback from people of this board regarding a property.

For management services while you are away, I have used Hispaniola Realestate for the last 2 years or so for 2 properties and would recommend them. I've also heard really good things about AmberGuardian in Sosua. If you buy a resale in Casa Linda, they manage it themselves and do a good job. The management company that you choose can provide maid service, poolservice, garden, rentals, client pickup and the likes.

Good luck with this investment and let us know how it turns out.
 

Steve Costa Azul

I love Rocky's Ribs!
Jul 15, 2006
405
0
36
renting out your villa

Ecarignan

Wow, that's discouraging news. I too have a place in Costa Azul since March of this year and have Amber Guardian trying to rent it out but it hasn't been rented once since I've owned it. I know it's still low season and all. They told me that in the low season you typically will get people looking to rent for long term. We almost had someone but i was told they were of the biker type and problomatic people so I passed.
I emailed amber guardian the other day asking what is taking so long and they shocked me when stating that people are scared do to the nightly assaults in the area!!?? I didn't like hearing that! I have a local Dominican I befriended that is looking after it for me. He is not asking for any money and I think he is staying in it more than he isn't. I don't care really, it prevents vandalism. I think it will rent once the high season is upon us but we also want to spend some time there too.
Good luck with your DR investments
Steve
 

moviemouth

New member
Jul 12, 2005
149
0
0
Really?

I spent 2 weeks in late July at my house in Costa Azul and there was no hint of any assaults at all there much less nightly. Was your contact at Amber Guardian referring specifically to Costa Azul?:paranoid: