Should I buy A Condo in Sosua or in the D.R. (Expats opinion wanted) Gracias

Bronxboy

Well-known member
Jul 11, 2007
14,107
595
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You have become desperate to get out of your hell and put someone else in it.

Reminds me of the late 90's when a whole bunch of people I know move to the Poconos in PA.

They said they would be building a train that will bring commuters from the Poconos to NYC in less than an hour.

17 years later they are still waiting for the train. They all work in NY and have a 3 hour commute everyday ONE way!!!!!!
 

donP

Newbie
Dec 14, 2008
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Valeri PICHARDO?

RE prices in Sosua will skyrocket very soon! When instead of the current dirty small beach that nobody needs a big modern port for ocean mega ships will be built and operational. Thousands and thousands of cruise tourists will fill the village! They will want many restaurants to eat and many cheap hotels to have fast sex with prostitutes! Sosua will see a great economic future with HUGE upside potential! Now is the great time to buy! Before it is late!

:laugh:

Your last name must be PICHARDO
or
your post is pure satire.

donP
 

Camden Tom

Bronze
Dec 1, 2002
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I have bought and sold numerous properties on the north coast over the past dozen years and made a noteworthy profit on each one. Only one did I hold for more than 5 years and that is because I'm not that motivated to sell this particular property. My advise...do lots of homework before you invest. You make your profit on a real estate deal on the day you buy it. Wait for THAT deal. You can lose money anywhere if you're an idiot. You can MAKE money anywhere if you are astute.
 

frank12

Gold
Sep 6, 2011
11,848
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RE prices in Sosua will skyrocket very soon! When instead of the current dirty small beach that nobody needs a big modern port for ocean mega ships will be built and operational. Thousands and thousands of cruise tourists will fill the village! They will want many restaurants to eat and many cheap hotels to have fast sex with prostitutes! Sosua will see a great economic future with HUGE upside potential! Now is the great time to buy! Before it is late!

Valeri,

I love your optimism. Don't lose it. But let me tell you how the cruise ship business works.

I worked on ships for 12 years. I've been based out of the Caribbean, New York, Dover, England, Oslo, Norway, etc. Unless you got four or five cruise ship births where the cruise ships are coming and going all the time--both loading and unloading their passengers from--including flying them in and out of a nearby airport--i wouldn't get your hopes up too much.

The ships usually come into port and dock around 6am. Disembarkation takes place after clearing customs and the passengers have eaten breakfast. The tours take off from dockside after breakfast. If its a short tour, they're back before lunch. If its a long tour, then the lunch is usually brought with the tour buses.

Most passengers will leave the ship only on one of the tours. More adventurous passengers--and there are plenty--will be free to walk outside of the terminal area and into the streets but will be warned repeatedly of the dangers and often times discouraged completely if there has been any incidences of robbery. The warnings and discouragement comes before the ship gets into port and is done for legal & safety reasons.

Their will be a taxi area outside the terminal. But they will almost certainly be licensed taxis that will have to bid for the right to be there. The drivers will almost certainly be made to wear a badge with their names clearly printed and identification numbers clearly on them and their cars. The Taxis will have their own agendas--taking passengers to this store or that store for a cut/commission from certain businesses. This is usually considered illegal in some countries--but will happen anyway, no matter what country it is.

Port lectures will steer passengers to only a few choice spots--mostly within the terminal area or on tours sold by the ship. In the cases where they sometimes mention a store outside of the terminal area...they receive a "commission" for mentioning that store or stores. Again this is illegal, but is done anyway. Certain areas of town will be discouraged, warnings of HIV/Aids etc. will terrify many people, and most people will be discouraged from just walking around aimlessly--especially too far from the ship terminal. All passengers will be encouraged to be back for lunch, and the ship will almost certainly leave around 4:30/5:30pm and head to their next port of call.

And around and around the World turns.

Few businesses will see any profits, if any; most stores will be within the terminal grounds, passengers will be encouraged to only eat on the ship because of fear of food poisoning, and passengers themselves are often on a tight budget and often cheap...and older, and cheap, and older, and will not venture too far from the ship--except to take tours which are sold by the ship and exclusively for the ship. It's big, big money. Huge money. But only the ship see's it.

There's a lot more info that i'm leaving out of here because i simply do not have the energy, nor the time, to go into small, painstaking details about the intricacies of how ship companies operate. Suffice to say that, yes, jobs will be created in and around the terminal, but in no way can i see it having much effect--or very little effect at best--on the north coast unless of course you're involved in some direct way with the ships tours that are being promoted to its passengers on board and sold only by the ship itself--known as the Tours office/ Shore Excursions.

All tours are guided and everyone must stay with the group. Everything is run very tight and by the clock...and is very, very precise--i.e--leave at this time, stop at this time, return to the bus at this time, eat at this time, return back to ship at this time, etc. Everything is precise and there is no room for wondering around and going to a Cabana...unless of course you are one of the officers or entertainment crew--in which case you most likely will be banging the dancers or shop girls, or married, or gay...i've been three of the four.

Hope this helps!

Frank
 
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dv8

Gold
Sep 27, 2006
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don't buy anything until you've been here for a year or so. rent, changing location, so that you have a chance to live in different communities and see up close what it's like. talk to other people in the area, ask about water, power, internet, cell phone coverage. give yourself time.

and mostly, if you are looking to mainly rent, take into the account your possible tenants. you may like to be close to bars and the visitors may prefer to be in a quiet area (or the other way around). work out something that will work for you and still get your place occupied as much as possible.
 

Luperon

Who empowered China's crime against humanity?
Jun 28, 2004
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Valeri,


All tours are guided and everyone must stay with the group. Everything is run very tight and by the clock...and is very, very precise--i.e--leave at this time, stop at this time, return to the bus at this time, eat at this time, return back to ship at this time, etc. Everything is precise and there is no room for wondering around and going to a Cabana...unless of course you are one of the officers or entertainment crew--in which case you most likely will be banging the dancers or shop girls, or married, or gay...i've been three of the four.

Hope this helps!

Frank


Frank, How come you did not bang the shop girls?
 

CaptnGlenn

Silver
Mar 29, 2010
2,321
26
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Yes... exactly what Frank says!!! here's the bottom line... Cruise ship = floating A.I. resort... except more expensive, even more restrictive, (if you can believe it), with few or no local jobs, and the added bonus of Norovirus. Now PASS ME THE IMODIUM. LOL
 

wrecksum

Bronze
Sep 27, 2010
2,063
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I am also doing this to diversify some assets out of the USA and have a place outside the USA to hang my hat since I know I will not stay here when I walk from the job, and I am ready to start a second life and business somewhere else. Are the banks solid there?

It seems as good a place as any to put a few bucks.
As I have found out to my chagrin, there are no more 'safe havens' for money so why not buy a cheap place, as long as you accept that it will remain a cheap place when you want to sell it again.
Starting a business? If you are in IT maybe and work for someone else you can work from anywhere. Other than that, businesses here are as hit-and-miss as anywhere else. Maybe a bit more 'miss'.

I have heard that the banks here are solid enough but you can get an equivalent rate in US dollars about anywhere and you may have a better guarantee should the bank go down.
Pesos are a different risk and the interest should be judged alongside the inflation rate,polical risk and how much you spend in pesos.
Investment is a roller-coaster.

If I could try again, I'd buy a motorhome or a cheap boat and blow the money seeing the world...
 

drescape24

Bronze
Nov 2, 2011
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@ to the O.P..... if you plan to rent out your place you don't need the condo administration to have a rental program. There are very good online sites like homeaway ( which I use) vrbo, flipkey. You will need a property manager on site. I don't want my income potential tried to any administrator. There are times you and the admin will not see eye to eye. Will your rental income suffer? I keep those rolls seperated.
The money bedrooms you have the more people will be on your unit, the more wear and tear. Its easier to rent a one bedroom than a two bedroom imho. Just some thoughts for you to think about.
Keep your dollars in dollars. I use Banko Santa Cruz and I have never had an issue.
Feel free to p.m. me if.you have any questions.
Good luck finding your nitch and enjoy the hunt.


drescape24
 

windeguy

Platinum
Jul 10, 2004
44,346
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I don't disagree with drescape24 in theory, in practice it is difficult to find a that "property manager on site" that you can trust.

You can still use various rental sites to attract business no matter which way you go.
 

drescape24

Bronze
Nov 2, 2011
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I don't disagree with drescape24 in theory, in practice it is difficult to find a that "property manager on site" that you can trust.

You can still use various rental sites to attract business no matter which way you go.

Yes you have a good point windguy. But that's the d.r. in a nut shell isn't it. I found my p.m. because he was the listing agent of my condo.

drescape24
 
If you want to buy, first start a "company", this company buys the house/apt, and you rent it for like 1 peso a year. So when the hookers (yes they are ALL hookers) try to steal your property after som while (yes they will). Then there is nothing to steal because you only rent it thru your company.

Or even better- dont buy. Rent rent and rent. To own something down here is a waste of money and will just give you a headache that never goes away.

For a good reason you see the same houses for sale and resale year after year after year...........