Expats Trying To Sell Real Estate By Being Friendly When The See Other Expats !.

Guess I was lucky everybody told us don't do it.

I have not had regrets for one minute the investments I have made in RE in Scotland, London, Spain or the DR over the years.
In fact if you had made an investment in an average performing mutual in the US you would still be standing still.
If you want to invest in stockmarkets then my bets are on Russia and Brazil; also other developing countries including bonds.. Both have given excellent performances for me and I think will continue to do.
DR property has very done well for many people ; but as they say do not put all your eggs in one basket and do your own due diligence. Good luck to those enterprising enough to sell DR property ; my opinion is that there are now excellent bargains in one of the fastest growing economies in the region. Where else could you buy a beachside condo for just 200,000 euros in the region in a premier World class resort area but in the DR? Also have secure and responsible management ; a fast developing infrastructure covering the the whole country; steadily increasing tourism base; Russia and other countries showing increasing interest; rapidly developing air hub linking South America, Europe, Russia, US and Canada; expanding nearshoring industry and services etc. etc. Europe property investments have mainly remained static in value in the last 5 years although yielding good rental income. In DR many properties have nearly doubled in value.
For many people sure beats some suspect Harvard graduates running suspect companies in the US ; graduates of the sames colleges ran GM , AA and many others etc. into the ground.

pi2

There are expats who are great real estate agents and there are others who don't have a clue. Just like anywhere else in the world. Some people bought great real estate in the DR and others were not so lucky... also just like anywhere else.

RE Agents

A friendly motoconcho may be a better RE agent than an expat who has been a loser all his life (and that is why he/she came here to become a RE agent...).

donP

Don't mistake a "Time Share" salesperson,for a lisensed real estate agent.
There are some international firms here.
"Let The Buyer Beware",especially here,especially in realestate!
CCCC

RE Fortune Adventurers

Criss Colon said:

There are some international firms here.

Click to expand...

International, they may be.
But if you refer to RE firms: They hire local (sometimes shady) fortune hunters who work on commission only, usually know nothing about the trade, and fluctuate between jobs.

donP

That's why "The Buyer Must BEWARE!
"A Fool And His Money,Are SOON PARTED"!
CC

Generally there is little reward without risk.

pi2

They must be new expats to the area if they do not know the (in)famous Mike. Hell, 8 times out of 10, when going to Playero I either see you in there or on your way over or leaving... lol.

I hate it when people try to push their sales-pitch on you. I will leave a store when they do that letting them know why, so just imagine what I would do if they disturb my lunch.

Just to make sure. Was the expat trying this eating seaweed by any chance? I suspect Pi2, as he is the one telling everybody here how fantastic the real estate market is over here, and anybody living here knows this is BS.

If you are 100% sure you will be living here for the rest of your life, or that you will be vacationing over here a lot, then the DR is a very cheap place to either build or buy property. If you are not sure of the above, rent, as you will be stuck with that real estate for a very long time, and chances are slim it will be a profitable investment.

pi2 said:

In fact if you had made an investment in an average performing mutual in the US you would still be standing still.

pi2

Click to expand...

Sorry, I just happened to check my 401k tonight, and it is at it's all time high. And all the money is in dull 2040 and 2050 funds.

pi2 said:

DR property has very done well for many people ... In DR many properties have nearly doubled in value.
pi2

Click to expand...

Um...what exactly have you been smoking?

pi2 said:

Generally there is little reward without risk.

pi2

Click to expand...

Well, not all risks are created equally. There are different levels of risk. There are those that take intelligent, well-thought-out tactical risks, and then there are those that take playing-with-fire or nothing-left-to-lose risks (or the ever popular running-from-problems-in-their-own-countries risk). Sometimes, in rare circumstances, these somehow work out. In most cases, these don't end well, especially in the DR. In my opinion, expats owning property in the DR as investments are at the upper end of the risk scale.

belgiank said:

TI suspect Pi2, as he is the one telling everybody here how fantastic the real estate market is over here, and anybody living here knows this is BS.

If you are 100% sure you will be living here for the rest of your life, or that you will be vacationing over here a lot, then the DR is a very cheap place to either build or buy property. If you are not sure of the above, rent, as you will be stuck with that real estate for a very long time, and chances are slim it will be a profitable investment.

Click to expand...

Exactly!

pi2 said:

I have not had regrets for one minute the investments I have made in RE in Scotland, London, Spain or the DR over the years. pi2

Click to expand...

you! i have always suspected you were writing al those "saving money" posts from your playboy mansion surrounded by sexy lainas in louboutins and chiuaauas in diamond collars!

Who called me a fool??? ...and where is my money? Aw <bleep>!

mike l said:

So it looks we all agree that diversification makes more sense than opening a sports bar in Sosua or buying a rental complex in La Union

Click to expand...

I agree... although a mud-wrestling bar in Sosua ( hey it is a sport of sorts ) could be a good investment... lol

Such properties as balcones del atlantico have attracted investors : into one of the premier resorts in the Caribbean region.

Balcones del Atl?ntico

The Gem of Las Terrenas - Review of Balcones del Atlantico, A RockResort, Las Terrenas, Dominican Republic - TripAdvisor

( I have no commercial connection although I have visited )

According to some other posters investors are .........

Other beachside properties are producing steady returns for investors.

And yes, although it is not Trump Towers I am happy with my residence near the beach in the DR that I have bought.

Investors in Trump Towers have found unfortunately that the price for a studio has relaxed to $625,000.

Trump World Tower - Wikipedia, the free encyclopedia

Some of my other investments have also doubled in 5 years.

With hindsight investment in gold bars might have been better ; but also the price of gold can go down.

DR gold mining looks good for the country. Good to invest in DR. DR is also self-sufficient in major foodstuffs ......

But other people may prefer Honduras ; much higher murder rate........

World Map - Top Ten Countries with Highest Murder Rates

It is a good sign of economic activity when people are actively selling RE......

Good also they are are eco-aware in their investments and know that a very reasonable cost of living is possible in the DR.

pi2

belgiank said:

I agree... although a mud-wrestling bar in Sosua ( hey it is a sport of sorts ) could be a good investment... lol

Click to expand...

From belgiumk:


If you are 100% sure you will be living here for the rest of your life, or that you will be vacationing over here a lot, then the DR is a very cheap place to either build or buy property. If you are not sure of the above, rent, as you will be stuck with that real estate for a very long time, and chances are slim it will be a profitable investment.