DR1 and Investing in the DR

H'mmm. Nals I don't want to be picky but taking your category D 'DR1 was of no help' - not sure that is going to tell you anything. It might have been of no help due to quality of info, or because person concerned didn't read it, or in some cases because DR1 wasn't in existence when people decided to invest here...........or probably other things as well. Do you have any way of refining your questions to engender responses which might actually tell us something which people can work on?

These polls always fascinate me. Here goes.

Is it a flop because not enough members responded? At the time of this post 7

or because the majority voted "DR1 was of no help". At the time of this post 3

A.Hidalgo said:

These polls always fascinate me. Here goes.

Is it a flop because not enough members responded? At the time of this post 7

or because the majority voted "DR1 was of no help". At the time of this post 3

Click to expand...

I haven't voted because DR1 wasn't in existence when I moved to the DR, nor when we bought the first house, nor when we first invested money here, so mine would have had to be 'no help' but hardly fair to say 'no help' when something didn't even exist so.............I abstained. :cheeky: Which is why I was seeking different wording.............

Extremely helpful!

Sorry--- I suggested this poll and then didn't check back to complete it!

Anyhoo.... we wouldn't be purchasing property on Las Terrenas if it wasn't for the outstanding help we received (and are still receiving) from the wise people on this forum-
Perhaps the people who viewed but didn't reply to this poll just haven't purchased property yet?
Susan

great help for new investor

I have found the dr1 to be very valuable in my search for property,and I made an offer in a complex that I understand from reading here and other sites to be decent and well run. I found posts offering advice on what to look for.

I, at first, wanted the really nice looking condo, without researching complexes for safety issues, maintenance issues etc. I seriously was considering two complexes that I learned after reading here on Dr1 would not be good choices. The one had a beautiful reasonably priced villa, but I learned robberies in the area were not uncommon. Even though the complex stated it was gated with security there have been serious breaches that made me reconsider., and I really wanted this villa in a bad way. With Dr1's help I believe I have a better understanding and to look further.

The second was a condo, (cause after the first search on villas and learning about scarey home invasions and robberies I figured condo living would be safer and easier to keep when away) With that said, I found a beautiful condo that was priced reasonably. I then wanted it badly and was seriously considering making an offer., but after reading Dr1 it alerted me to problems with the complex on a whole and how it was run. It told of power outages for days, therefore being unable to shower, flush toilets, cook, etc. The back up generator was used sparingly if at all., and even when schedules were made for the generator the management did not turn it on when sheduled. This may have been a beautiful apartment but would have easily turned an exciting time into a nightmare of an experience.

Therefore, thank you to all who have posted with informative info. and personal experiences - It has certainly aided me in my search. Albeit, I did post to learn about one condo complex which is newer and I have had 78 people read it but no posts yet. Maybe, no one is certain of which condo I talk of or have no info. one way or another. With that said I have not offered or seriously entertained the thought of an offer as I have had no feed back. Although, you can consider this Dr1 infuence as well being that there is no info one way or another., and I have come to depend on this site to research the good, the bad, and the ugly so to speak.

So everyone keep on posting you are helping many whether you know it or not.
Thank you!

DR1 was of no help because I did not know about the site when I purchased a lot in the north coast. I wish I had never don't that. It's has been a complete nightmare. Looking for help to write a book about it.

me neither- but no nightmare yet and no book to write

Bayx,
Would you share with us what went wrong. There might be some of us who could learn from what happened to you.
Thank you.

P.S. If you do not feel comfortable posting your experience on this board, I would still be interested in know what happened. If you would prefer, please send me a private message (PM).
Thanks again.

Well, be really carefull - trust no one and make sure you get ariginal papers of whatever you sign. I know by experience that seven out of every ten lawyers are unethical. Good luck

Success in the DR business climate hinges on the established friendships your family has made over the decades or centuries. This applies to those brick and mortar businesses. When you need something done expeditiously and the rules/laws need to be re-interpreted or accomodated it's the people you know that will get things done for you. They do you favors and you do them favors. It's this Colonial Spanish system of patronage that permeates DR society. It's this flexibility that the system perpetuates.

If you want to do something A LA Roberto, you obviously do not need those type of contacts. For that type of business success, then I would recommend DR1 and its advice regarding investing in the DR. There are many foreigners here who have had success in the DR business climate and can point you in the right direction. If you don't listen to their advice you do so at your own doom and peril.

I don't mean to offend anyone. I was born and rise in DR and proud of it. That's just my personal experience. It's too bad a can not post my personal story right now because of legal issues. I m sure it would help others not make the same mistakes I did.

Investment

I can honestly say if not for DR1 I probably would have invested in property in DR.... Thank goodness I haven't,,,,I have learned alot....And in time with proper knowledge I will, when I feel time is right!!!!!!!DR1 has helped me understand the pitfalls.....People need to listen and learn!!!!! David:cheeky::cheeky::cheeky:

Bayx-** said:

I don't mean to offend anyone. I was born and rise in DR and proud of it. That's just my personal experience. It's too bad a can not post my personal story right now because of legal issues. I m sure it would help others not make the same mistakes I did.

Click to expand...

Not to worry - I'm sure you'll be able to when litigation is completed. Meanwhile another cautionary tale here about unscrupulous lawyers & real estate titles. At least these are going to Supreme Court.
Someten abogados por falsificar documentos de fallecidos - DiarioLibre.com

Because we just purchased property in Las Terrenas, I looked at the article and though I can't read Spanish (yet!) I'm relieved not to see our attorney's name (he's with with Guzman)---whew!

We've bought and sold property without title, papers, attorneys BUT I would never recommend such moves for those that do not have those connections I spoke about. Play by the rules you learn here on DR1 and you won't get burnt. There are alot of sob stories here. Read up on 'em.

i agree basically to Onions,
learn about the societies system first and make your moves when you feel comfortable within those "rules".
most foreigners i met during my 13 years over here never got into it and the big crowd of them failed in their "business/investment" starts.
i failed myself by the first time but luckily i got my studies together and run my today's business with success.
it is not a matter of some weeks or months, it is a learning of many years and you need the close connection to local families who support you. those do not have to be from some fancy high society class, but you need people who move her business stuff themselves sinvce a long time so living clos/together with 'em you learn how things work. and in many cases the things work very different to what we know from home, not been teached at our home universities.
to the POLL,
i did not vote because by the time i got my business stuff together here in PC i did not know about DR1, a great community, would have been very helpful for me to know DR1 when i failed on my first attempts,
so for the mewbies i would highly recommend to join/chat/ask/learn here on this bord.
good luck
Mike

I agree with you mikefisher, but it's too late now for me to start over - I am financially ruined for the rest of my life - unless I win the lottery.