I was visiting my brother-in-law in Santo Domingo in July and saw so many great potentials for business. For example a hurricane supply store, laundry house, affordable housing (apartments or condos), etc so many posibilities. Does anyone have any ideas or opinions as to what types of businesses local Dominicans would get the most benefit from? I am a business driven person but am also driven by what I can offer the community in regards to improving what is already there. The neighborhood where he lives is so hospitable and friendly but I see that their lives could be so much more comfortable with just a little help.
- Thread starter SUSBOS5
- Start date
So many posibilities...but what is most needed?
Affordable housing> That's like low-income housing?
I think you will have great problems collecting rent and even greater problems evicting tenants.
What is a good business (if you can get it right) is lending money. You can earn 10% or even more per month. But collection may be another thing (that's why I say if you get it right). Here in Higuey it's a huge business, every 30th and 15th I see people with stacks (hundreds) of ATM cards in front of ATM's collecting from thier debtors (yes, people give their creditors their ATM cards). It's almost impossible (timewise) to get money out of ATM those days (unless I want to get old waiting in the line).
I think you will have great problems collecting rent and even greater problems evicting tenants.
What is a good business (if you can get it right) is lending money. You can earn 10% or even more per month. But collection may be another thing (that's why I say if you get it right). Here in Higuey it's a huge business, every 30th and 15th I see people with stacks (hundreds) of ATM cards in front of ATM's collecting from thier debtors (yes, people give their creditors their ATM cards). It's almost impossible (timewise) to get money out of ATM those days (unless I want to get old waiting in the line).
I don't really want to be a landlord. By affordable I was thinking more along the lines of taking a run down apartment building, renovating it and selling each unit as condos. Setting up some sort of homeowners association and handing it over to the owners. Possibly there are some sort of government programs that would assist in the cost of renovations if I sell at a reasonable amount.
You may want to get in touch with SEOPC (Secretaria de Estado de Obras Publicas y Comunicaciones) to see if they have similar programs. There aren't many "run down apartment buildings" around. There is some public housing or sort of it, but don't knwo if you could buy the building, and then sell apartments.
Your best bet is to talk to somebody in SEOPC as they are responsible for housing programs, etc.
Your best bet is to talk to somebody in SEOPC as they are responsible for housing programs, etc.
There's 3 things Dominicans always have money for:
1 Run and Beer
2 Gamble (Banca de loteria)
3 Cabana (Motels)
Get the idea?????
1 Run and Beer
2 Gamble (Banca de loteria)
3 Cabana (Motels)
Get the idea?????
He was serious.
A case of beer, a cooler con hielo, a tube of plastic cups, a plastic table and chairs and a boom box.
That's it.
You could add a cheap gas grill, hot dogs, skewer sticks, napkins and mayo and be a restaurant.