HOW Much...

[DominicanScotty]

ok, wow thaty was fast..jeje

well i live in NYC houses extrelemy expensive here, ive thought about buying a 2 family house and actually renting out both apts, and still live with mom,,,but the houses here are really expensive and crappy..

i can use the rent of the 2 apts, to get the mortgaged pay off? ir maybe i can use that to start my complex,

yeah since im sooooo young, and still ins chool ill probably jsut let the land sit there.........

i actually plan on relocationg as soon as i finish school here in NYC, i already have a place to stay so thats not the issue,my issue is avoinding haveing to work for someone else,

since its been so hard to find companies, ive been researching employment in DR for the past 2 yrs, and still no luck as to possible employers, even ewith an AAS degree in Business and finishing my BA in economics,,,,,,,,,,

I own several apartment houses in Westchester County, NY. I agree that housing prices have gone through the roof. I am happy because I bought my real estate years ago and now enjoy the great equity. However, if you wish to invest, look at the Poughkeepsie, NY area. It's about 1 1/2 hours north of NYC but with your 50K (down payment and closing costs) you can buy a nice 3 family with that money easily, live in one of the apartments and more then pay your mortgage. With tax writeoffs and equity you will soon be well on your way.

Now, before you decide to put your hard earned money to work in the Dominican Republic first you must understand the laws there and beware that sharks don't always lurk in the water. Lot's of thieves in the DR just waiting for somebody like yourself to come down there. Be careful!!!

Scotty

 

[Lambada]

What the bishops call the Holiday Truce!

After all John knows his business and Keith knows his. They happen to have different opinions from each other regarding the who, whats and wherefores. So what?

The OP wanted to know what to do with her savings and many of us chimed in.

Keith is a family man and very conservative.

iluvdr is happy to put his money in someone's hands, someone that he personally has met, talked to and who he likes and trusts. That is what investing capital is all about. I do not know what the fuss is all about.

Me? Heck I took a middle road and suggested 1/3 of the money in Central Bank CDs at 24%....Which, and here the opinions differ greatly and hotly, if the Central Bank does not tell Uncle Sam who has what & where, the return to the young lady would be about $1000 per month, certainly not something to sneeze at. Re-invested she would be kinda wealthy in ten or so years.

Perhaps, since she is not a Dominican citizen the Central Bank might tell Uncle Sam. However, if she is Dominican, then I think all bets are off...But hey! I am not a tax expert and do not know jack about many of the issues here.


HB, wishing all a very Merry Christmas

HB, can I just clarify? "If she is Dominican, then I think all bets are off".........meaning income from interest should be declared to DR tax authorities, each January when one makes one's judicial declaration, it should be added to one's existing DR income eg. salary? Or did you mean something else?

 

[Gimabella]

thanks

hey all

thanks to those of you who advised me as to what do with my $$ and my land..

well,

i have decided to let the money sit, and only use it for a reasonable reason like for instance pay for school ( i am terified with school loans, with 5 yrs in college and one degree and finishing another, gladly i have not needed to take any crazy loans, thanks to some grants and pocket money...), i have also decided to look into the PUCMM which has a program with RIT...which grants degrees in MS in service management, or UNIBE which has an IMBA program in conjunction with FIT in Florida...

as for the land i am going to let it sity there aswell,..
im not in no rush to use any of it the land or money, since im still very young 22y/o and dont have my mind set as to what i want to do....

i would love to come live to DR after i finish with my BA but the lack of possible employers,. and network stops me....thats the only thing keeping me here, even though i'll give up any dollar salary to live in DR and experience what many of you have experinces........

so hopefully i'll find a good samaritan that will give me the opportunity to work with them, in a decent environment when i arrive which will be with in the first few months of 2006..

so any one interested in holding on to my resume just PM me.....

thanks to those who stood on topic,,jejje i must say i think i learned a little more about the economy in DR

what ever happened to MY origal post...jejje

Gimabella

 

[Gimabella]

hey all

thanks to those of you who advised me as to what do with my $$ and my land..

well,

i have decided to let the money sit, and only use it for a reasonable reason like for instance pay for school ( i am terified with school loans, with 5 yrs in college and one degree and finishing another, gladly i have not needed to take any crazy loans, thanks to some grants and pocket money...), i have also decided to look into the PUCMM which has a program with RIT...which grants degrees in MS in service management, or UNIBE which has an IMBA program in conjunction with FIT in Florida...

as for the land i am going to let it sity there aswell,..
im not in no rush to use any of it the land or money, since im still very young 22y/o and dont have my mind set as to what i want to do....

i would love to come live to DR after i finish with my BA but the lack of possible employers,. and network stops me....thats the only thing keeping me here, even though i'll give up any dollar salary to live in DR and experience what many of you have experinces........

so hopefully i'll find a good samaritan that will give me the opportunity to work with them, in a decent environment when i arrive which will be with in the first few months of 2006..

so any one interested in holding on to my resume just PM me.....
PLEASE BE INTERESTED....PLEASE ,,PLEASE,,PLEASE....BE INTERESTED,,,,,REMEBER U CAN E-MAIL ME AT UNICAGIMA@HOTMAIL.COM OR AT Gilmanda.Sena@dhs.gov...or through DR1 :glasses:

thanks to those who stood on topic,,jejje i must say i think i learned a little more about the economy in DR

what ever happened to MY origal post...jejje

Gimabella

you all are a hand full, i could jsut picture this actual topic being conversated in person,,oh my,,( i got from seat,,)....

just kidding ya'll

Gima

 

[blastdiaz]

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...

Complete nonsense. A lot of people continue to say that banking in the US is risky, every investment has an inherent risk to it, now investing without knowledge is what causes people to lose more often than not, of course there are Non FDIC protected investments that NO ONE will insure for example stock, mutual fund investments. A CD is insured up to 100 thousand or otherwise stated, banks are required to hold insurances for certain situations that also protect the funds in their boxes. The Ascot Advisory does not provide the full picture on this of course their aim is to have people run to them for investment advice and Im sure it is NOT FREE; they dont understand they are nothing but victims of their own credo and are trying to create here what in the US is rampant.

As far as the IRS, there are legitimate ways to protect yourself, a proper tax consultant should help you in your overall investment and tax strategy.

THE US banking system going down?? Is the Dominican economy directly or indirectly independant of the US economy?? not specially now with all the agreements going forward between the two. I dont' think the likelihood of that is very possible, or maybe a few trillion dollar investors in the US can tell you more, why would they put their money into investments if the banking system is not safe...now in the eventuallity that something like that happens? how much do you think the banks in DR are likely to hold on by themselves? are all the companies in the DR banks portfolios in the US, DR??? where?

My advice to you is, learn all the avenues available for you to invest, LEARN about them as much as you can, dont put money on anything you dont understand, consult legal, tax, heck even your priest and then make your decision; the amount of money you might pay a tax advisor may well turn in great returns and knowledge for you, if not leave it in the bank.

 

[blastdiaz]

I don't have to defend myself against the likes of Schroeder. And I think most DR1ers are smart enough to see through his smoke and mirrors.

And iluvdr, to quote from something I said to you earlier:

Not defending anyone just expressing my point of view: Schroeder doesn?t know what government intervention is when it comes to Dominican governments, he should have started by reading history and actually living in DR.

He is so much against government when it comes to US government but then places all his faith in the Dominican Republics government.

Liberalism??? He seems to be running from his own mistakes and misfortunes in the US otherwise why would he so vehemently find ways to put down a working system promoting one that historically has been plagued by corruption and by multi standards every 4 years or may I say 12?

Of course in a letter to him explaining my points of view he questioned me been a Dominican or not? He has an agenda, it is not clear but Keith to me there are no Smoke mirrors here, the truth will be revealed sooner than later. He has a problem with paying his fair share in taxes, no one likes taxes, but the amount of time he spends digging dirt about the US can be put into more constructive use and look for ways to safeguard his investments from taxes. Maybe he is against the US government all together?

 

[iluvdr]

Don't hate the player, hate the game!

Not defending anyone just expressing my point of view: Schroeder doesn?t know what government intervention is when it comes to Dominican governments, he should have started by reading history and actually living in DR.

He is so much against government when it comes to US government but then places all his faith in the Dominican Republics government.

Liberalism??? He seems to be running from his own mistakes and misfortunes in the US otherwise why would he so vehemently find ways to put down a working system promoting one that historically has been plagued by corruption and by multi standards every 4 years or may I say 12?

Of course in a letter to him explaining my points of view he questioned me been a Dominican or not? He has an agenda, it is not clear but Keith to me there are no Smoke mirrors here, the truth will be revealed sooner than later. He has a problem with paying his fair share in taxes, no one likes taxes, but the amount of time he spends digging dirt about the US can be put into more constructive use and look for ways to safeguard his investments from taxes. Maybe he is against the US government all together?

Now you see...there we go again! It's people like you that give a bad name to good citizens of the USA. Why when ever someone does not agree with your opinion's he as to be outlawed...All John stands for is freedom of expression! at least he does not hide anonymously behind some forum to express his opinions....You guys are just sitting here watching the goverment take away your civil liberties one by one in the interest of national security and not saying or doing anything about it! Shame on you ...
I don't always agree with John, but I respect his choices and value his opinions. For those of you who have read my post last year. Thanks to Ascot , I made mucho dinero....When every body was claiming that the pesos was falling and that the Central bank was going under. I brought those 36% CD's at 43 pesos for $1 US, today I have more then doubled my investment!
and the futur is looking brigther then ever... " Some people are made to lead, some to follow..."

 

[blastdiaz]

Now you see...there we go again! It's people like you that give a bad name to good citizens of the USA. Why when ever someone does not agree with your opinion's he as to be outlawed...All John stands for is freedom of expression! at least he does not hide anonymously behind some forum to express his opinions....You guys are just sitting here watching the goverment take away your civil liberties one by one in the interest of national security and not saying or doing anything about it! Shame on you ...
I don't always agree with John, but I respect his choices and value his opinions. For those of you who have read my post last year. Thanks to Ascot , I made mucho dinero....When every body was claiming that the pesos was falling and that the Central bank was going under. I brought those 36% CD's at 43 pesos for $1 US, today I have more then doubled my investment!
and the futur is looking brigther then ever... " Some people are made to lead, some to follow..."

Well then keep following John!

In the name of civil liberties? what you fail to see is that those called libertarian are erroding the true American culture hiding behind all their liberal agendas their true purpose is to see the US go under. If they need to tap my phone go ahead and do it, I have nothing to hide and if they need to do it and get done with the terrorist ideologies please do not stop.

Who said John was an outlaw? if you and John fail to find good investment opportunities in the US sorry there are thousands finding them everyday, no one said he should be outlawed because he expresses his opinions, Now that is something people dont entirely have in the Fantasy Island he is selling.

John sounds to me like another Cristopher Columbus selling the indies, We all know the rest of that story.

I respect everyones choices and opinions so should you respect mine, that is all I am doing in this forum Expressing my points of view and opinions. I am not hiding not in the US not in DR.

I am not sure what you mean "It's people like you that give a bad name to good citizens of the USA"

Now capitalism is great, I have no problem with it, if you are investing and doing well at it, congratulations.