But they are so visable here... the game they are playing is, I dont care if everbody knowns............
- Thread starter ohmmmm
- Start date
Best Business in the DR
The best business I have seen and they don't track with pie charts is money laundering
Because
Because those builders are like Sasquatch - occasional sightings but they don't really exist
But is that a moral business my man ❓
Because I am hearing that morality is a very important part of business.
If a business man makes a decision that ultimately gets people killed...
Should he go to jail on behalf of the organization he was responsible for❓
the best thing to do with that dirty money is, build more luxury hi-rise apts,/condos....
One business that seems too prevalent is to sell lots cheap and let lesser sophisticated Dominicans build homes on them, then the real owner arrives and tears down one or two of the lesser homes and extorts the remaining residents a high price for the lots.
Such just happened in Puerto Chiquito
Or a "government" official steps in to offer to 'cure' the problem for 50,000 pesos.
Way too many property scams.
There is quite a lot to do in the field of real estate (mentioned earlier)
Benefit; you stay 'under the radar' for all kinds of people who 'want something from you' (and I don't mean a presidente from the colmado)
Benefit; you stay 'under the radar' for all kinds of people who 'want something from you' (and I don't mean a presidente from the colmado)
I'm not really interested in any business ops, but am curious as to why you suggested RE. Unless you have a real good (read expensive) lawyer, how do you know you have a true title? And even if you do, if someone challenges it I have read here that it could take years to go thru the courts. It sounds like it could be a nightmare.
Have some experience for about 30 years. Choose my projects with care and do my homework. I have never experienced checking and / or obtaining a title as a problem. In addition, I prefer to participate in a new building and do business directly with the developer instead of a broker.
In the middle segment it is fine to rent out and / or sell (even during covid) that is my personal experience. Can I imagine that this does not apply to everyone.
Cheers!
Reb
One has to definitely do due diligence when they rent out their place.
I can tell you quite a few horror stories I know about personally..
Renting out here is a whole nuther thread.
One has to definitely do due diligence when they rent out their place.
I can tell you quite a few horror stories I know about personally..
I know plenty of businesses in DR with more than three and over four decades with open doors.
Their shared trait is national sourcing.
Have you noticed how even a can of pringles at the local supermarket is smaller than their international size? As a matter of fact that size doesn’t exist in their homes markets.
Yet the price remains the same vis to vis.
If you want to make a good biz on the DR, concentrate in sourcing locally first and foremost.
Plenty of U.S. snacks are made right here in the DR. Frito Lay has a plant just down the road from my business.
A very small percentage at that,
The bulk is for exports.
For example Baldom (Baltimore Dominicana S.A.) produces their main products with over 60% of national raw materials. The rest are divided into an smaller qty of raw products of external origin and indirect materials in a larger share.
The use of nationally sourced products allows the company to control costs more effectively.
They first served the local market and later expanded overseas with great success.
Same happened to Gatorade, which supplied the local market from their hubs in US locations, when Distribuidora Corripio introduced their goods to the local market in early 2000’s.
The brand had good traction in the local market and expanded once Pepsi co. decided to carry it in the market direct.
Soon after they opened a hub here in the DR to supply not only the local market but the region as well. They also introduced local raw materials into their production chain and haven’t looked back since.
This effect repeats in many other industries as well. From personal experience back in the 80’s Amfesco Industries (parent company) imported everything come raw material and indirect goods for their two plants in Santiago Free Trade Zone, Domjet industries and Domfesco industries.
After the first two years they were able to switch some of that to local national suppliers. Which kept their costs under control during some of the worst economic conditions in the region.
Later, a deal was struck with Bojos Tannery in the DR and hedging of the upper sole materials could be introduced effectively.
Other local tanneries later joined for some products, keeping the fabrics 100% of US origin to comply with rules, along soles which were added to the final product in the Puerto Rico plants.
Bojos sourced a part of their raw leathers from US producers, so it complied with rules of origin for the upper soles.
Take a sector like US franchises in the DR.
We all know that companies like McDonalds are not into the food biz, but real state.
McDonalds is a purely real state driven company. It just so happens to do so in the food niche of said business.
In the DR, the RE part was not conforming as it was in other external markets (like China) due to low rents and high real state property values (in our case) and lack of long term ownership (like China).
They also adapted to source from the national market and found their pívot interests there.