Real Estate Investment

[Pikobello]

Hi at all. It,s possible that some threads of this kind are existing, but I want some actually information, sohere we go:
There are a lot of Real Estate companies here in DR who offers Investments and do all the work for you ( Maintenence, searching for renters, making the contracts).
So my question for the members here, have or had anyone of you Experience with those companies and is it worth the Investment you made?
Thanks for sharing your Opinion

 

[SKY]

Many companies, also many SCAMS...............

 

[Pikobello]

So nobody here has or had a property in the DR and rented it out through a real estate companie? That's strange...

 

[johne]

So nobody here has or had a property in the DR and rented it out through a real estate companie? That's strange...

You're talking about "Property management". It cost money to have someone "manage" your rental money. In my experience the cost was 10% of the month"s rent for collection, and handling complaints from the tenants. In addition they are resonsible to get various trade ppl to do repairs. And then charge back the costs. Hmmm, another way to tack on.I never engaged such a company bc I didn't want to give up so much money.

So, back to your question...how many ppl do you think would do it and why? In the DR rent collections are performed by the owner's lawyer. (What they get for the service I have NO idea). So perhaps in the DR there is no need for a property manager?

 

[johne]

ETA: They also get a commission for renting the apartment.

 

[windeguy]

So nobody here has or had a property in the DR and rented it out through a real estate companie? That's strange...

I know such property management companies exist, just never heard of anyone using them outside of the dedicated ones set up for places like Casa Linda.

 

[drstock]

I don't know where the OP is, but in the Cabarete area there are several rental management agencies. They are mostly small companies or individuals. When I first bought rental properties here there was a lady who had managed it for the previous owners who were absentees. When I got to learn about the business and the area, I took over the management myself, and saved a lot of money. Most of what johne says above is similar to my experience.

 

[Pikobello]

Thanks for your opinions guys. Good, let's go into some details. We own 2 small buildings in SD and we do all work (Maintanence, pick up the renters) by ourself.
So we know this work for the last 15 years very well. But we are all getting older and one day we won't do all this work anymore. Allso we're thinking to spend half the time in Europe in the near future, so we're looking for options for possible changes in our buisnessform, and invest in some tourist property is one of our thoughts.

 

[JD Jones]

Thanks for your opinions guys. Good, let's go into some details. We own 2 small buildings in SD and we do all work (Maintanence, pick up the renters) by ourself.
So we know this work for the last 15 years very well. But we are all getting older and one day we won't do all this work anymore. Allso we're thinking to spend half the time in Europe in the near future, so we're looking for options for possible changes in our buisnessform, and invest in some tourist property is one of our thoughts.

Where are they?

 

[Pikobello]

SDE, between Aut. San Isidro, Av. Charles de Gaulles and Av. Ecologica

 

[NanSanPedro]

SDE, between Aut. San Isidro, Av. Charles de Gaulles and Av. Ecologica

I go by there often, to and from SmartFit

 

[El Hijo de Manolo]

Ah the Autopista San Isidro. The Mecca of SDE. Home to the Vegas Strip of cabañas, 24 hour hot dog king, base area and the famous planta de gas that blew like the Hindenburg at 1am back in 2008.