Moving to DR and investing in real estate

dbogdan83

New member
Jun 20, 2011
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Hello Ladies and Gentlemen,

I am 27 year old single male looking to move to Punta Cana and invest in Real Estate with my partner. I am a US citizen so I don?t think I should have any problem becoming a resident. I am looking to purchase about 10 condos and rent them out to tourist and manage the properties myself. I speak Serbian, German, English and have been surrounded by the Spanish culture for the past 13 years so my Spanish is not bad at all. I lived in Yugoslavia Germany and now in the US so I don?t think I would have any problems adopting to such a beautiful country like DR. If anyone has any suggestions on what steps I should take please let me know. Thank you very much in advance.
 

Hillbilly

Moderator
Jan 1, 2002
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The first question that comes to mind is how does a 27 year old get enough money to buy 10 condos in the most expensive place in the DR??? Good, honest work? Especially coming from that paradise of Serbia?>??? Something smells worse that rotting meat..

HB
 

dbogdan83

New member
Jun 20, 2011
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well that's why i mentioned "my partner". My partner is an 60 year old gentleman who has been a successful business owner for over 30 years in the United States.
 

Enrike

New member
Jan 31, 2010
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Hello ,

In order to help how much are you willing to spend in this project and in wich season are you willing to do that because rigth now everything is running but lets no say that everything is pink color here.
 

dbogdan83

New member
Jun 20, 2011
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well i am not exactly sure how much my partner is willing to spent. However we did speak about up to a million $. how much would a 10 condos complex go for is my question? also i plan on coming to DR around October and staying there for about 3-4 months to check out the situation and do as much as research as possible.
 

LTSteve

Gold
Jul 9, 2010
5,449
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Hi:
How are you? I am a US citizen who lives in Las Terrenas on the Samana Penninsula, northeast coast and have owned a condo for about 6 years. Just like the rest of the world the real estate market in the DR is soft. You should be able to find real estate at attractive prices. I don't think you would have any problems adopting to the DR, however if you are considering such a major commitment as you described than you should consider coming down for a minimum of 2-4 weeks to get a feel for the country. I'm sure you have checked out the internet as to what real estate is currently out there. Prior to coming down get a hold of a couple of agents and have them do the leg work for you. When you arrive your time will be much more productive. As far as becoming a residents it is not a difficult process. Go on line and you find the documents and requirements needed.

S