In another thread thehun mentioned you could get 15% interest on USD $150k. I'm getting terrible interest rates on USD right now in the DR; anyone know where/how to get 15% - I'm willing to convert to dominican pesos.
- Thread starter Adrian Bye
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15% interest?
Money....don't you just love that stuff!
You won't get 15% on U.S $ but you will on a Peso CD.
Send a PM to Tamborista for this as he is up to snuff with the current rates.
Best rate for U.S. CD's is 7% but I am speculating as have yet to go to POP and see this place....It's called Rusa and they are a large money changing operation...let me know what you find out.
Check the search function here as well.
In another thread thehun mentioned you could get 15% interest on USD $150k. I'm getting terrible interest rates on USD right now in the DR; anyone know where/how to get 15% - I'm willing to convert to dominican pesos.
You won't get 15% on U.S $ but you will on a Peso CD.
Send a PM to Tamborista for this as he is up to snuff with the current rates.
Best rate for U.S. CD's is 7% but I am speculating as have yet to go to POP and see this place....It's called Rusa and they are a large money changing operation...let me know what you find out.
Check the search function here as well.
It's called Rusa and they are a large money changing operation...let me know what you find out.
They only accept investments when they have a use for the money. Sometimes you have to wait quite a while. They have just closed Fine Gift Centre opposite so my advice would be to phone before you make a journey which might be unnecessary.
Sorry, I should have mentioned the 7% at Banco Popular was DOP. But still much much better then what you would get here or in the US for USD, for a 6 month CD.
I have heard that this investment house returns are very good in Puerto Plata
Anoeca
Real Estate Investment in Dominican Republic
Anoeca
Real Estate Investment in Dominican Republic
I have heard that this investment house returns are very good in Puerto Plata
Anoeca
Real Estate Investment in Dominican Republic
I have heard the same but your investments are not liquid so if you need cash you have to wait until they sell a major asset to recoup your cash.
only if
if you live here and will be spending those pesos.. and have tied your future to this country, well then you are in this boat with us, so sure.. risk it
but if this were really such a great investment, they would not have to pay 15% and investors all over the world would come...
just do the math if you convert to pesos now at 35 or 36 and the exchange rate goes to 45...
But then if you are Dominican and planning on coming home to retire perhaps a better long term investment might be a new condo in Gazcue
they are all sold before completion....
If the return looks to good to be true, it usually is,i wouldnt bank on it...risk vs reward.
3rd world banking always carries a far greater risk than the 1st world for a multitude of reasons. Currency volatility is just one, yet not the biggest.
if you live here and will be spending those pesos.. and have tied your future to this country, well then you are in this boat with us, so sure.. risk it
but if this were really such a great investment, they would not have to pay 15% and investors all over the world would come...
just do the math if you convert to pesos now at 35 or 36 and the exchange rate goes to 45...
But then if you are Dominican and planning on coming home to retire perhaps a better long term investment might be a new condo in Gazcue
they are all sold before completion....
if you live here and will be spending those pesos.. and have tied your future to this country, well then you are in this boat with us, so sure.. risk it
but if this were really such a great investment, they would not have to pay 15% and investors all over the world would come...
just do the math if you convert to pesos now at 35 or 36 and the exchange rate goes to 45...
But then if you are Dominican and planning on coming home to retire perhaps a better long term investment might be a new condo in Gazcue
they are all sold before completion....
I dont mind chancing it on the smaller transfers to my local bank account which is my liquid asset, but definitely done in small peices as to be protected from currency hikes as well insulate myself from the usual 3rd world risks.
I believe mountainannie that you live and strongly promote Gazcue, and I agree it has some better electricity reliability in certain parts, but how can the real estate market be so different in that barrio as opposed to the others in Sd? Especially the barrios that are closer to the heart and more sought after and of course priced higher. I live in Bella Vista and previously Piantini and it seems that those areas definitely are feeling the Real estate crisis.
Real Estate if purchased at the right price and location, can always be a great investment- but make no mistake it is only one part of a stable portfolio, being a "non-liquid asset" many real estate millionaires are no-longer worldwide, because they got caught up in this phenomenon (sp??). If the market tubes when you need money, wow what a scarey situation to be in.
I like Gazcue as well, but just not as convenient for me as commuting to the city is a pain, and when i first came to the country i stayed there 10 days and was constantly hassled by scammers,ladies of the evening, ladrons etc. so I guess I just had some bad luck, therefore a lasting bad taste.
This is the DR, definitely not the cheapest place to live, many things here(food) much higher than North American prices.
You can bet if the peso takes a serious spike, the prices of goods will follow suit.
That's exacly what happened during the Hipolimoto. Duting Hipolito's administration the peso devalued to 55 to the dollar at its low and prices of everything spiked.
During the current Yipetocracy at least the exchange rate has been relatively stable but there's another thread making a strong case for pressure on the peso to devalue again.
http://www.dr1.com/forums/general-stuff/95054-pressure-peso.html
real estate
If you have to commute to the City, I will admit that Gazcue would be a drag. And I live here and don't go out to clubs etc. at night although I do pass by the Ladies of the evening.... I just find it a sane little neighborhood. And I think that in ten years, it is going to be full of Baby Boomers who think the same way.. because you can walk to everything... have good services. including the 6000 English Library and the National Theater, Museums, Zona, the Malecon, and both traditional and alternative doctors and some of the best architecture in the City. Did I mention the trees? I am in love with the trees. I have parrots in the trees outside my balcony. I go into the "real" City about as often as I go to beach which is about once every two weeks. I don't like it. It is not built for people. It is built for cars. There is little street life. Here I know the neighborhood avocado lady,flower sales person, newspaper guy. I leave my puppy her Dominican family at the Internet Cafe
when I go shopping. When I return from the super market, the deliver guy carries my bags up three flights of stairs and puts them down on the kitchen floor. I mean even when I grew up NYC, we never had that sort of service.
The rents here are about 600 to 1000 for a 2 bedroom, and the prices... although I have not checked, are about 125k and up... so it is a wash, really, to rent or buy.. not a great bargin now. But I don't think the prices here are going to come down.
And it won't provide a whopping return either, but a solid long term investment perhaps,,, but .. of course, with real estate you actually have to do some work.... not just clip the coupons. If the OP is looking for current high interest rates, then the CD peso return is the best he is going to get. Otherwise the best he can hope for is the same old 4%.. and lucky to find that on AAA corporate bonds.
This is not speculative building here. It is not, say, the swamp land of Miches, or the hills of Coson. This is a solid neighborhood. Of course, there are some -- like the Torre on the Malecon and Pasteur which some Dominicans report that they have looked at and said that they did not like wind pattern.... and were going to wait to see how it did in the first big one...
For me, the rest of the City has become pretty uninhabitable because of the traffic. They are overbuilding the Torres and all those cars just flood the streets into one long traffic jam. So I can't imagine living there.
I was speaking as a long term investment. Certainly if the OP?lives here, then investing in the peso CD at 13 or whatever it is now is not a bad choice since he has put his body here, and that is certainly more valuable than his money.
I dont mind chancing it on the smaller transfers to my local bank account which is my liquid asset, but definitely done in small peices as to be protected from currency hikes as well insulate myself from the usual 3rd world risks.
I believe mountainannie that you live and strongly promote Gazcue, and I agree it has some better electricity reliability in certain parts, but how can the real estate market be so different in that barrio as opposed to the others in Sd? Especially the barrios that are closer to the heart and more sought after and of course priced higher. I live in Bella Vista and previously Piantini and it seems that those areas definitely are feeling the Real estate crisis.
Real Estate if purchased at the right price and location, can always be a great investment- but make no mistake it is only one part of a stable portfolio, being a "non-liquid asset" many real estate millionaires are no-longer worldwide, because they got caught up in this phenomenon (sp??). If the market tubes when you need money, wow what a scarey situation to be in.
I like Gazcue as well, but just not as convenient for me as commuting to the city is a pain, and when i first came to the country i stayed there 10 days and was constantly hassled by scammers,ladies of the evening, ladrons etc. so I guess I just had some bad luck, therefore a lasting bad taste.
If you have to commute to the City, I will admit that Gazcue would be a drag. And I live here and don't go out to clubs etc. at night although I do pass by the Ladies of the evening.... I just find it a sane little neighborhood. And I think that in ten years, it is going to be full of Baby Boomers who think the same way.. because you can walk to everything... have good services. including the 6000 English Library and the National Theater, Museums, Zona, the Malecon, and both traditional and alternative doctors and some of the best architecture in the City. Did I mention the trees? I am in love with the trees. I have parrots in the trees outside my balcony. I go into the "real" City about as often as I go to beach which is about once every two weeks. I don't like it. It is not built for people. It is built for cars. There is little street life. Here I know the neighborhood avocado lady,flower sales person, newspaper guy. I leave my puppy her Dominican family at the Internet Cafe
when I go shopping. When I return from the super market, the deliver guy carries my bags up three flights of stairs and puts them down on the kitchen floor. I mean even when I grew up NYC, we never had that sort of service.
The rents here are about 600 to 1000 for a 2 bedroom, and the prices... although I have not checked, are about 125k and up... so it is a wash, really, to rent or buy.. not a great bargin now. But I don't think the prices here are going to come down.
And it won't provide a whopping return either, but a solid long term investment perhaps,,, but .. of course, with real estate you actually have to do some work.... not just clip the coupons. If the OP is looking for current high interest rates, then the CD peso return is the best he is going to get. Otherwise the best he can hope for is the same old 4%.. and lucky to find that on AAA corporate bonds.
This is not speculative building here. It is not, say, the swamp land of Miches, or the hills of Coson. This is a solid neighborhood. Of course, there are some -- like the Torre on the Malecon and Pasteur which some Dominicans report that they have looked at and said that they did not like wind pattern.... and were going to wait to see how it did in the first big one...
For me, the rest of the City has become pretty uninhabitable because of the traffic. They are overbuilding the Torres and all those cars just flood the streets into one long traffic jam. So I can't imagine living there.
I was speaking as a long term investment. Certainly if the OP?lives here, then investing in the peso CD at 13 or whatever it is now is not a bad choice since he has put his body here, and that is certainly more valuable than his money.
There are people who bought Dominican CDs when the peso was over 50 to the US$ and the interest rates were way higher.If the return looks to good to be true, it usually is,i wouldnt bank on it...risk vs reward.
They got a great return plus great appreciation on the exchange.
There are people who bought Dominican CDs when the peso was over 50 to the US$ and the interest rates were way higher.
They got a great return plus great appreciation on the exchange.
And there are people who in 2002 bought at 20 pesos, and so on and so on..hindsight is 20/20
I prefer to do my gambling in the casino with money i expect to lose.
Its all about attitude toward risk for each individual investor at the end of the day, and be sure that risk does exist moreso in the 3rd world no matter how you analyse it.