From today's Wall Street Journal
Caribbean Getaways Ensnare U.S. Buyers - WSJ.comFrom today's Wall Street Journal
Caribbean Getaways Ensnare U.S. Buyers - WSJ.comFrom today's Wall Street Journal
- Thread starter Frank the Tank
- Start date
When Your Dream Vacation Home Turns To A Nightmare
House Hunters International untold stories
I always end up screaming at the TV at the end, DON'T DO IT!!!!!!!!!!!!!!
Have you ever the seen the Roco Ki offices in SDQ??
Splashy/flashy , to say the least... wasn;t that a Nick Faldo golf course??
The Caribbean is flooded w/ unfinished projects and broken dreams.
Splashy/flashy , to say the least... wasn;t that a Nick Faldo golf course??
The Caribbean is flooded w/ unfinished projects and broken dreams.
I do that in the US.... but then I fell in love w/ the rental..... like falling in love a hooker.
Better to pay by the hour than by the month/year:rambo:
Don't get me wrong - we love it..... just sayin'
But yours was built...and I'd hardly classify you as a naive investor, sir...
Either I mispoke or you misread.... we rent rent rent in the US and fell in love.
In RD, we built ourselves, in Canada we have had houses all of our lives.
THE POINT is that you can fall in love w/ a rental and overstay to your financial detriment..... words from the experienced.!!:cross-eye
Good heavens....calm down! 4 yrs ago my husband and I bought a property in Las Terrenas AND we were on an episode of House Hunters International--- Buying our property was the best investment decision we could have made and the House Hunters experience was great---
So you think that if you'd put it on the market now you'd get rid of it fast and at a good profit?
Maybe I'm a little on the cautious side but why would anybody give money to any development that is not done in an area or country that they are not familiar with or if it seems to be a deal to good to be true?
BTW, my first client who helped me start me business did the same thing in Central Florida. He is now in Fed prison in Texas.
BTW, my first client who helped me start me business did the same thing in Central Florida. He is now in Fed prison in Texas.
I always ask myself the same question- How can someone give their money to a builder in a unknown foreign country, when there is far between the sunshine stories. And the countryside is littered with overgrown skeleton houses with "Se Vende"signs. For Christ sake there is a search engine and a computer avaliable for everyone in the "rich" countries..
NEVER, NEVER, NEVER, NEVER, NEVER, what don't you understand about the word NEVER, fork over any Dollars, Euros, Pounds, Pesos, Beads or Gold for pre-construction housing to any builder/developer in the DR or any other Caribbean, Central American or South American Nation. You would be better off to spend it on booze, women, drugs, donuts or anything else than give it to some shady guy who will promise you the Island Dream. It is his dream and not yours he is promising. Turn around and walk away, especially in todays market. You will be happy you did and feel a lot smarter for it.
LTS
LTS
Not sure why you are taking it personally.
I just think that there isn't only happy ending stories that's it. I spoke to homeowners in LT who had also regretted their decisions. But, I am glad things are working out great for you.
I still love House hunter International
. I just wouldn't do it. Again, you are about my mother's age, so I am not exactly thinking retirement yet.
Well, my original intention was to not even consider anything that wasn't completed. BUT, the best laid plans of mice and men... so I bought in the early phase of construction, (our building hadn't been started yet). It turned out just fine. The only regret was it took longer than the original delivery date... but that was expected. Would I do it again??? Probably not, except MAYBE with the developer we purchased from... but even then, it would have been nice to take possession right away. The one big advantage is that we got one of the best units in the complex. It's a roll of the dice, and I would never suggest anyone else do it.
why would anybody do that in a "rich" country? Pay as work proceeds... for a house or villa. Pay when finished for a condo...
I bought pre-construction in Spain when the risks were similar. In 2 years the money invested in progress payments had doubled. There are many success stories in the DR as well. If you drive 4-5 miles in LT or PC you maybe happen on one badly stalled project. It is not good to tie up cash you need immediatly its true. And more research needs to be done than for a completed or near complete project. Full occupancy at the AI,s is overspilling into the rental market to the advantage of owners who only spend a limited time a year in their property. The newspaper could only find one or two examples over the whole of the DR.
pi2
pi2
pi2
pi2