- Thread starter Lesquireau
- Start date
If you had 100.000 US$, how would you invest them in DR ?
Bayx-**....> I was being ironic, with maybe an attempt at humor.
Really, you have to understand reality in order to invest here. Three million (3.6 million at current X rate.)will allow you to live modestly.
You could buy mortgages at one of the bigger S&Ls...They pay better than the Central Bak or the Banco Popular. You could buy Cevercer?a Nacional bonds, rated AA+ by Fitch Dominican, but the catch is: Are you familiar enough with the country to be able to live on what the deposits or bonds produce?
That is the question.
HB
HB
Really, you have to understand reality in order to invest here. Three million (3.6 million at current X rate.)will allow you to live modestly.
You could buy mortgages at one of the bigger S&Ls...They pay better than the Central Bak or the Banco Popular. You could buy Cevercer?a Nacional bonds, rated AA+ by Fitch Dominican, but the catch is: Are you familiar enough with the country to be able to live on what the deposits or bonds produce?
That is the question.
HB
HB
Ex pats be very careful what you say online the irs is watching every transaction of money between here and the usa. They demand to be told of every asset over $10,000 now which is now the law. Please say as little as possible online and to the people around you. People can recieve from the IRS as much as 30% of what the IRS collects for informing on you. Sounds like nazi Germanyaranoid:
The IRS only pays on very large claims of more than $1 million owed and they find every excuse not to pay the whistle blower
I know from experience...the first person i turned in because he owed me money and all they gave me was a jelly doughnut.
The second person i turned in, i did not get a reward but I was able to get his business closed down
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1000 pesos per month for utilities is enough to barely keep your phone service on.
Your lawyer friend, "kickin' it" like Midas Jackson is not being straight with you.
OP - Apart from investing in banks, there are many other investment opportunities here in the DR and US100k is certainly large enough to get something going, if not on your own with another partner.
The challenges will be having a viable business plan, finding honest business partners and of course involvment that would be needed to run the business. No. 1 would be finding honest business partners, and like everything you need to go with people with more than one personal reference.
An example of a couple of businesses might be to buy electronics by the container and ship here. I know of people that do this and have become quite wealthy.
The challenges will be having a viable business plan, finding honest business partners and of course involvment that would be needed to run the business. No. 1 would be finding honest business partners, and like everything you need to go with people with more than one personal reference.
An example of a couple of businesses might be to buy electronics by the container and ship here. I know of people that do this and have become quite wealthy.
how do you know? 1000 pesos is $27? 6000 pesos for rent is $167. Put together its $200...hmmm lets double that utility bill, no triple it...3000 pesos($83. So whats the major dealie Willie? 167+83=$250...now another maybe $250 for food(local food)...? what more? We re still less than $2000 monthly.
And Midas can shed his shiny perm and get a buzz cut for what? 200 pesos? Still kickin' it...
In 47 years I lived in the DR I saw 10 landmower, he better import machetes, picos y palas that is what we use in over there.
JJ
I KNOW because I live in the DR. You cannot live very "high on the hog" for 1000 USD, which is the figure you quoted earlier.
Perhaps we have differing expections as for a "kickin-it" lifestyle; I do not require a maiden to rub my feet nor get a buzz cut with a shiny perm.
the climate in the united states is changing
Take the time to read what the IRS is saying on their forms and not just the media, and you will be very horrified. They would have a whole generation watching each other. My advice keep your personal financial information to yourself. I enjoy living here because my personal information is my business and only if I tell other people could they know. The IRS wants to know what kind of car u drive, the house you own, if you have a business here, and if you have any savings or investments here. But the United States is going to give you zero benifits for that information except the right to pay income taxes. In fact it is illegal for citizens not to file income tax forms.
Take the time to read what the IRS is saying on their forms and not just the media, and you will be very horrified. They would have a whole generation watching each other. My advice keep your personal financial information to yourself. I enjoy living here because my personal information is my business and only if I tell other people could they know. The IRS wants to know what kind of car u drive, the house you own, if you have a business here, and if you have any savings or investments here. But the United States is going to give you zero benifits for that information except the right to pay income taxes. In fact it is illegal for citizens not to file income tax forms.
It is always good advice not to post sensitive personal information, not just because it can be used by the IRS, it can be used by others too. But..........could we please not assume that everyone posting here is a US citizen for whom the IRS is the appropriate taxation authority? It tends to alienate the REST OF THE WORLD who may have other taxation authorities...:cheeky:
OP asked about investing, not spending. even then 100k would only last you for a couple of years of good life and maybe 10 of decent life (based on commonly quoted 1000 dollars a month budget - we talked about it before).
100k is really not a lot of money to purchase a business in DR that can guarantee high income.
Well the IRS be damned! I wont the SuperLotto in the state of Wisconsin and I have a crackhouse on the Chicago waterfront inside of the old Montgomery Ward complex.
But seriously, you may not live "high on the hog" for $1G/month. But you can live "low on the hog", in the underbelly area right next to his balls for $1000 month. Now for the $2k you can move from hog balls to hog maws. I got a friend in Buenos Aires who is so desperate for work I could pay her $100/month just to clean my house. Another $50-60 and she will wash my clothes also. Of the 8 women I am carousing with I havent paid more than $37 wining and dining, usually its in the 900 pesos range(which is like what $24?). Get out of a spot anywhere in NY where the seats are NOT BOLTED to the floor for less than $30?
We may have different tastes on living here or even in the US. I dont know, bro...I may be super duper cheap but I always get what I want though
well dv8, I recommended car wash because its OE are so cheap, what do you need? A hose, soap and a teenager.
I would open an hug clinic, and then sell my patented bear hugs to those who feel just a bit down in the dumps. 50peso cub hugs and 100 peso bear hugs.
I would open an hug clinic, and then sell my patented bear hugs to those who feel just a bit down in the dumps. 50peso cub hugs and 100 peso bear hugs.
