I have stayed out of this but to put it in the Bank in $RD is probably the worst move you can make at this time.
Scott
Scott
- Thread starter Gimabella
- Start date
HOW Much...
question
but yeah you can live just fine if you leave your money here in the US and live off the interest in DR! LOL :bandit:
the reason i agree with this statement is because im not so sure any if not all your money is INSURED in a dominican bank....i mean god forbid economy or the bank shuts down...sheesh! :beard:Escott said:
but yeah you can live just fine if you leave your money here in the US and live off the interest in DR! LOL :bandit:
Dear Gimabella:
I actually bothered to read the thread. I will account your nearly illiterate use of the English language to the fact that "it's the Internet, fer Crissakes!!"
But do get your M.A. !! Then you will be more attractive to banking and financial institutions in the DR or US based companies that have offices here.
You should also know a few things about what $50,000 is here in the DR:
1) It is a start, and equal to about RD$1.4 million. But that is chicken feed when talking about construction.
2) The land you have inherited: Have you clear title to the land? If not, take some of your money and make d@mn sure you have title or else you can never be sure that your dream can come true.
3) Santo Domingo Este is the lower class part of the city, that is for sure. The location near the Mega Centro might be a major plus, since good housing in that area is not all that available. So, your basic idea is a good one.
4) Did you know that enormous fortunes have been made with really crappy housing? Right there in NYC?? Who cares if the housing units are sh!t? Not you, you don't have to live in them. As long as you collect your rents...
There was a Danny Divito movie about this a few years back....JIC/ But, you need a heart of steel.
5) Larry is extremely knowledgeable, and his "consejo" is very, very wise. A nice two family property up there in the Catskills would be a solid investment, but it would also involve some important commitments and obligations on your part.
6) Banco Central CDs are now paying around 24-25% apr. Something to be looked into. If you took 1/3 of your money and converted it into Pesos at 24%, you might be getting RD$13,888 a month interest, which equals, today, $651 dollars, tax free....close to $1000 dollars of rent income. Do the math.
Plus you still have 2/3 of your capital safe and sound in the bank, or invested in stock or bonds or funds.
HB
I actually bothered to read the thread. I will account your nearly illiterate use of the English language to the fact that "it's the Internet, fer Crissakes!!"
But do get your M.A. !! Then you will be more attractive to banking and financial institutions in the DR or US based companies that have offices here.
You should also know a few things about what $50,000 is here in the DR:
1) It is a start, and equal to about RD$1.4 million. But that is chicken feed when talking about construction.
2) The land you have inherited: Have you clear title to the land? If not, take some of your money and make d@mn sure you have title or else you can never be sure that your dream can come true.
3) Santo Domingo Este is the lower class part of the city, that is for sure. The location near the Mega Centro might be a major plus, since good housing in that area is not all that available. So, your basic idea is a good one.
4) Did you know that enormous fortunes have been made with really crappy housing? Right there in NYC?? Who cares if the housing units are sh!t? Not you, you don't have to live in them. As long as you collect your rents...
There was a Danny Divito movie about this a few years back....JIC/ But, you need a heart of steel.
5) Larry is extremely knowledgeable, and his "consejo" is very, very wise. A nice two family property up there in the Catskills would be a solid investment, but it would also involve some important commitments and obligations on your part.
6) Banco Central CDs are now paying around 24-25% apr. Something to be looked into. If you took 1/3 of your money and converted it into Pesos at 24%, you might be getting RD$13,888 a month interest, which equals, today, $651 dollars, tax free....close to $1000 dollars of rent income. Do the math.
Plus you still have 2/3 of your capital safe and sound in the bank, or invested in stock or bonds or funds.
HB
Hillbilly said:I actually bothered to read the thread. I will account your nearly illiterate use of the English language to the fact that "it's the Internet, fer Crissakes!!"
But do get your M.A. !! Then you will be more attractive to banking and financial institutions in the DR or US based companies that have offices here.
You should also know a few things about what $50,000 is here in the DR:
1) It is a start, and equal to about RD$1.4 million. But that is chicken feed when talking about construction.
2) The land you have inherited: Have you clear title to the land? If not, take some of your money and make d@mn sure you have title or else you can never be sure that your dream can come true.
3) Santo Domingo Este is the lower class part of the city, that is for sure. The location near the Mega Centro might be a major plus, since good housing in that area is not all that available. So, your basic idea is a good one.
4) Did you know that enormous fortunes have been made with really crappy housing? Right there in NYC?? Who cares if the housing units are sh!t? Not you, you don't have to live in them. As long as you collect your rents...
There was a Danny Divito movie about this a few years back....JIC/ But, you need a heart of steel.
5) Larry is extremely knowledgeable, and his "consejo" is very, very wise. A nice two family property up there in the Catskills would be a solid investment, but it would also involve some important commitments and obligations on your part.
6) Banco Central CDs are now paying around 24-25% apr. Something to be looked into. If you took 1/3 of your money and converted it into Pesos at 24%, you might be getting RD$13,888 a month interest, which equals, today, $651 dollars, tax free....close to $1000 dollars of rent income. Do the math.
Plus you still have 2/3 of your capital safe and sound in the bank, or invested in stock or bonds or funds.
HB
hey,,
for ur information, im currently at work, doing 3 things at once, and checking out dr1. i cant help it if my grammer isn't perfect....i know what im trying toget across here, and everyone understands me....please don't judge me on my grammer.........
anyways, yeah there are so many things i can do with this money.,,,,,,pero veremos aber que hacemos..jejje
thanks for ur ponmts though, many are interesting,,,,,,,,,,
i am aware SD este is not the nicest place , but its a start,,,
and yes i do have my title and all the paper work needed,,,,,,,,,,.but cant do anyting with it until i finish school..
hey , i have gone on the the BC website, but its more like a historical information on the economy itself, its not like the other banks which give offers and information regardng their service..am i looking at the wrong site?
thanks HB..
gima
Hillbilly said:But do get your M.A. !! Then you will be more attractive to banking and financial institutions in the DR or US based companies that have offices here.
HB
I WILL BE MORE ATTRACTIVE TO BANKS IN USA AND DR....
WHAT DO U MEAN, DO U MEAN AS FAR AS EMPLOYMENT?
AND IF SO,,I'VE CONCIDERED GETTING MY MBA IN DR SINCE ITS ALOT CHEAPER IVE BEEN LOOKIONG AT APEC AND PUCMM ..ARE THEY ANY GOOD?
GRACIAS AMIGUTO,,
SORRY FOR THE CAPS I 4-GOT TO UNLOCK MY KEY..
here is a thought
education is REALLY cheap in canada. you can go to montreal and study! at least you can get yourself out of the US! LOL :bandit:Gimabella said:
jalencastro said:
ay manito...., i'vethought of Canada sinc emy goal is to get out of boring USA...but Canada is very COLD..............for that i rather pay $$$$$ and get my MBA here in NYC......i jsut have so many options that i'm stuck .......and i cant sit on it either.....
ill be taking my GMAT in the spring.
Some people have no idea what they are talking about!
Now I don't want to repeat what has been said over and over again in this forum. Your money is not really insured in the US, because God forbid one of the major banks would fall, the FDIC does not hold enough money to pay everyone and this would create a chain reaction...
Has for the Central Bank, like any where else today, your money is not secure, except that if you have any knowlege of how loans are issued in the DR or how hard it is to get a banking license, you would understand why your money is safer there then in The US.
Once again, we are not talking about just any commercial Bank, but the goverment run Bank! if the Central Bank goes belly up, the entire Dominican economie will crash...What are the chances of that happening in the near futur?
And lets not forget the whole IRS issue.
Now Gimbella, I don't know you, however you sound like a sweet, smart but naive girl... Take my advise on this one. Put part of your money in a CD at the Central Bank and you will thank me later...
I hope I am not breaking any rules on this forum but you should read this article by John Schroder at Ascot Advisory Services:
http://www.thedominicanrepublic.net/interview.html
And good luck with your business venture...
jalencastro said:
Now I don't want to repeat what has been said over and over again in this forum. Your money is not really insured in the US, because God forbid one of the major banks would fall, the FDIC does not hold enough money to pay everyone and this would create a chain reaction...
Has for the Central Bank, like any where else today, your money is not secure, except that if you have any knowlege of how loans are issued in the DR or how hard it is to get a banking license, you would understand why your money is safer there then in The US.
Once again, we are not talking about just any commercial Bank, but the goverment run Bank! if the Central Bank goes belly up, the entire Dominican economie will crash...What are the chances of that happening in the near futur?
And lets not forget the whole IRS issue.
Now Gimbella, I don't know you, however you sound like a sweet, smart but naive girl... Take my advise on this one. Put part of your money in a CD at the Central Bank and you will thank me later...
I hope I am not breaking any rules on this forum but you should read this article by John Schroder at Ascot Advisory Services:
http://www.thedominicanrepublic.net/interview.html
And good luck with your business venture...
Bueno....
jeje, thanks Andy. i see you' ve already seen me,,,,,but thats only a shell,,u should try to know me for ME no por mi belleza....pero muchisimas gracias....
but thanks though....
andy_089 said:Gimabella is a cute girl, i saw her pic at msn
jeje, thanks Andy. i see you' ve already seen me,,,,,but thats only a shell,,u should try to know me for ME no por mi belleza....pero muchisimas gracias....
but thanks though....
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1. This interview is from April 2000, one month before Hippo was elected. It therefore does not reflect current DR reality in any shape or form. Much water under the bridge since then.iluvdr said:
2. Even in April 2000 much of this stuff was bunk. Schroder has been peddling this sales pitch for years. I can remember similar stuff being posted on DR1 from Ascot in 1999 and being blown apart then by DR1 members familiar with the DR realities on the ground. C'mon, DR corruption no worse than US corruption????? DR banking no less safe than US banking???? Anybody with more than passing familiarity with the DR saw through this stuff even before Hippo made it too glaring for even international markets to ignore...
Why do you need to limit yourself to NYC? There are housing markets that are about to boom in many other cities. You can hire the a property management company to manage it. An other option is to by in Mid/Northern NJ . It is still easily accessible to NYC yet more reasonable priced. With $50K in NYC you can maybe get a 1 bedroom condo and have to rent out the living room, bathroom, and kitchen! LOL
Otherwise, I agree with Larry's suggestion. I suggest you do the MBA in the US not DR...once you have the two-years of work experience they like to see. It also will be more recognized worldwide.
Best of luck.
D
Otherwise, I agree with Larry's suggestion. I suggest you do the MBA in the US not DR...once you have the two-years of work experience they like to see. It also will be more recognized worldwide.
Best of luck.
D
Gimabella said:
Keith R said:
I don't care what anyone says ... I meat up with the guy last May in the DR.
It was my first time there for business. He help me setup shop and pointed me to a Bank manager and an attorney, both drop dead gorgeous and perfectly bilingual!
I was very impressed. He also gave me some sound advice, such as to invest in the Central Bank CD's when the pesos was at 49. That's when I joined this forum to do some research.... almost everyone was predicting the apocalypse
for the pesos and was warning me to stay away from the Central Bank.
Today, six month later, I have almost doubled my investment and sure feel good when every 1st of the month I check my account on the net and I see how it has increase considerably! I don't mean to brag, but I am not talking nickels and dimes here... It took a lot of balls to go in, especially with every one advising me not to! But some how, John made a strong impression on me. So what if the guys make a few bucks for his services, that don?t make him a scam artist. He his not, for say, the most social person I have ever meat (he declined, politely, my invitation to super!) but he certainly knows his business and I would trust his opinion over a lot of some of the want to be specialist on this forum!
Ok, maybe some of his stuff is outdated, but most of it still makes sense!
I am in no way related, accounted or even a friend to this guy. I simply did business with him. He did not come cheap, but heck, if I had to do it all over again I would, except a couple of million $$$ more!
Thank John ! I owed you one!
Gima
While I agree with Larry, I would just add that you should also save money to protect yourself when breakdown occurs (ie leaky roof, bad plumming). These repairs can be highly expensive and financially draining if you are not financially prepared for them.
I also think that you need to measure your risk and to see how you will be able to manage paying for your education. My suggestion to you is to start working with a big firm that will be willing to cover for at least 50 to 100% of your MBA. This way you will not have to put the house up as collateral to the bank because the school may not offer you financial aid. The thing is that if you go to the bank they will demand payments immediately and while in school if you can't meet your payments this may put the house into foreclosure. Not a good thing. If this is not a possibility then take as many classes as you can afford to pay.
Best,
D
While I agree with Larry, I would just add that you should also save money to protect yourself when breakdown occurs (ie leaky roof, bad plumming). These repairs can be highly expensive and financially draining if you are not financially prepared for them.
I also think that you need to measure your risk and to see how you will be able to manage paying for your education. My suggestion to you is to start working with a big firm that will be willing to cover for at least 50 to 100% of your MBA. This way you will not have to put the house up as collateral to the bank because the school may not offer you financial aid. The thing is that if you go to the bank they will demand payments immediately and while in school if you can't meet your payments this may put the house into foreclosure. Not a good thing. If this is not a possibility then take as many classes as you can afford to pay.
Best,
D
Larry said:
MBS and the future
Gimabella: I have not seen your picture so when Isaid that you would be more attractive with a good MBA, I was referring to your possibility of being hired quickly.
Although I have been associated very formally, with the PUCMM for forty years, and I havve known APEC since its creation, I am not sure that you want to do your MBA there. At either one. Main reason is library access and depth of preparation of the faculty. PUCMM works extremely hard at making their program as solid as possible, but....
Actually, both programs are excellent for just one thing: Networking.
If you can do your degree in the States, as we used to say, "even at NYU", you will have a tremendous leg up on the competition.
You have a sense of humor, too. That is good. Your little play on poor use of Spanish was funny. Ocea, megut?!
HB
Gimabella: I have not seen your picture so when Isaid that you would be more attractive with a good MBA, I was referring to your possibility of being hired quickly.
Although I have been associated very formally, with the PUCMM for forty years, and I havve known APEC since its creation, I am not sure that you want to do your MBA there. At either one. Main reason is library access and depth of preparation of the faculty. PUCMM works extremely hard at making their program as solid as possible, but....
Actually, both programs are excellent for just one thing: Networking.
If you can do your degree in the States, as we used to say, "even at NYU", you will have a tremendous leg up on the competition.
You have a sense of humor, too. That is good. Your little play on poor use of Spanish was funny. Ocea, megut?!
HB