10K a week, how to save?

caribmike

Gold
Jul 9, 2009
6,808
202
63
Hi there,

I need some input please. Say, you are able to put aside a 10,000RD$ weekly. How to let it work besides a savings account?
 

suarezn

Gold
Feb 3, 2002
5,823
290
0
55
Hi there,

I need some input please. Say, you are able to put aside a 10,000RD$ weekly. How to let it work besides a savings account?

I know how you can easily get 30%+ return on that investment. Riskier than a bank of course, but if you want big returns you must be willing to take some risk. PM me if you want details.

Another alternative it government issued certificates which will give you a better return than a bank, but not as great anymore.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
I'll see what ideas coming up. Actually I do not want risk to lose it despite 30 % sounds very good...
 

ExtremeR

Silver
Mar 22, 2006
3,078
328
0
I know how you can easily get 30%+ return on that investment. Riskier than a bank of course, but if you want big returns you must be willing to take some risk. PM me if you want details.

Another alternative it government issued certificates which will give you a better return than a bank, but not as great anymore.

Let me help you out here...

Caribmike ponte a prestar a redito...
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
Besides "Prestamista"? Friend of mine got stabbed from a couple not being able to pay back couple years back in POP...
 

suarezn

Gold
Feb 3, 2002
5,823
290
0
55
Let me help you out here...

Caribmike ponte a prestar a redito...

Better yet Extreme you don't become the prestamista...if you were you can easily make 5-8% a month. What you do is you lend your money (with a contract and guarantee of course) to the people or companies who are engaged in the lending business. So you're not collecting from a hundred people, but from one or a company (thus the lower interest rates). I've found this is a happy medium allowing me to get nice returns without taking all the risk of making small loans to a bunch of people. It's worked for me so far...
 

Caz

New member
May 15, 2004
262
6
0
Caribmike - I don't know any of these posters and I am not making any nasty remarks about any of them. But it pays to be careful and remember that the best way to leave here with a small fortune - is to come here with a large one!!
 
Last edited:

Acira

Silver
Sep 20, 2009
2,510
115
0
www.blazingfuries.com
Better yet Extreme you don't become the prestamista...if you were you can easily make 5-8% a month. What you do is you lend your money (with a contract and guarantee of course) to the people or companies who are engaged in the lending business. So you're not collecting from a hundred people, but from one or a company (thus the lower interest rates). I've found this is a happy medium allowing me to get nice returns without taking all the risk of making small loans to a bunch of people. It's worked for me so far...

How can they afford to pay you out 5 to 8 % if they themselves make loans to people at 3%/month?
 

ExtremeR

Silver
Mar 22, 2006
3,078
328
0
How can they afford to pay you out 5 to 8 % if they themselves make loans to people at 3%/month?

They get 30-25% a MONTH and then pay 30% a year to the principal loaner. This is what you know as "Shark Loaning".
 

DRob

Gold
Aug 15, 2007
8,234
594
113
Be careful. While some finance houses (as they are known as) are legit, many are just laundromats for illegal activities.
 

Africaida

Gold
Jun 19, 2009
7,775
1,341
113
How can any body can pay back at an interest of 25-30%/month?? I suppose we are talking about small loans here then on short term.


That's the whole point: give a loan to people who won't be able to pay back (or would take a very long time) because they have no other choice.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
Yeah, when I think about I do not like it too much to think about these poor people trying to pay back these loans.

Came up with another idea, maybe investing in one of these Daihatsu trucks in 'fiao' and put it to make Jeep Safaris.... Just trying to make the calculation if it would work out.... Would prefer to do something not to do with tourism but, well....
 

babyboy31

New member
Mar 29, 2011
9
0
0
Well...what about the services that are offered on this website. There is an investment company in Puerto Plata.

Anoeca Puerto Plata
This company has been offering financial services to the business community of Santiago, Puerto Plata & the total north coast of the Dominican Republic for some 15 years, small but highly professional.


I did ask for more information and they provided me with these interest rates


The interest rates on the Flexi-Saver are dependent on three factors, the amount of capital to be deposited, the duration of the investment and finally the currency of the account.
Interest rates vary from between 10 and 15% on American Dollar, Canadian Dollar, Euro and British Pound accounts,
with Dominican Peso the interest rate varies between 15 and 20%.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
Will have a look, thank you! Now when you mention that I think they were recommended on DR1 somewhere in the past...
 

ExtremeR

Silver
Mar 22, 2006
3,078
328
0
How can any body can pay back at an interest of 25-30%/month?? I suppose we are talking about small loans here then on short term.

Is normally small loans not surpassing $200 bucks. The interest on over $300 loans is 10% a month.
 

MaineGirl

The Way Life Should Be...
Jun 23, 2002
1,879
89
0
amity.beane.org
Isn't Anoeca where the 6k of charity funds resides? The money we raised in 2005 for a dental clinic? Sorry to hijack the thread but....every so often I get very curious.
 

babyboy31

New member
Mar 29, 2011
9
0
0
Oh...I also forgot that I have a peso investment/certificate with BHD. My money is in a certificate and they offer a good percentage. Right now they offer me 7.5%/year which they pay monthly. You can ether compound on your capital or pay out to you on a monthly basis. I know from experience. They have online banking so I am able to watch this investment compound online. I believe Banco Popular has the same certificate. They may have different interest rates. I hope this helps.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
Isn't Anoeca where the 6k of charity funds resides? The money we raised in 2005 for a dental clinic? Sorry to hijack the thread but....every so often I get very curious.

Just wanted to ask if somebody on here has experience with them and with their Flexi Saver Account, but now that sounds like something not so... or?