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  1. #1
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    Post starting up a business in santo domingo

    Im looking to buy a house or a apartment in DR so i could rent it out as a vacation home..i wanted to get some info on that if it is a good investment where would be a nice place for me to buy im looking for something in a nice neighborhood where alot of tourist people would stay..my spanish is not really that good but my girl lives their she helps me out a little her English is not really that good but she is getting their..my budget is around 50,000 to 1000,000..and im also looking to start up a boutique to sale urban clothing purse and other stuff. any good ides please let me know

  2. #2
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    Quote Originally Posted by junior8338 View Post
    Im looking to buy a house or a apartment in DR so i could rent it out as a vacation home..i wanted to get some info on that if it is a good investment where would be a nice place for me to buy im looking for something in a nice neighborhood where alot of tourist people would stay..my spanish is not really that good but my girl lives their she helps me out a little her English is not really that good but she is getting their..my budget is around 50,000 to 1000,000..and im also looking to start up a boutique to sale urban clothing purse and other stuff. any good ides please let me know
    Check SuperCasas.com - Homes for sale Dominican Republic, condos, villas, caribbean real estate - super-casas but with that budget it will be hard.
    Also check your English, sorry to tell you.

  3. #3
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    I suggest you actually spend some time in the DR before investing here.

    If you need to be able to market your vacation rental and have a reliable person looking after it, if not, forget it, it's not a business.

    The DR has 1,000's of clothes boutiques, it's the first business, along with a salon most Dominicans think of starting. Unless you have a huge network of friends to support you, then you'll need deep pockets to finance your loss for a while.

  4. #4
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    Quote Originally Posted by junior8338 View Post
    Im looking to buy a house or a apartment in DR so i could rent it out as a vacation home..i wanted to get some info on that if it is a good investment where would be a nice place for me to buy im looking for something in a nice neighborhood where alot of tourist people would stay..my spanish is not really that good but my girl lives their she helps me out a little her English is not really that good but she is getting their..my budget is around 50,000 to 1000,000..and im also looking to start up a boutique to sale urban clothing purse and other stuff. any good ides please let me know
    No offense but what you are thinking is a bad idea from the way you are approaching it and has been tried many times, and you want someone to do all the research for you and just hand you a deal.

    Doesn't sound like you have been to santo domingo at all, I suggest you come to santo domingo and discover this for yourself as most of santo domingo is not really the 1st place tourist go to on the island, and the main tourist area is zone colonial which $50k or $100k will not buy you much that someone will want to rent out.

    And it sounds like your girl convinced you to help her open a store (just guessing) and there are alot of urban stores here, in the malls etc already and with your spanish limited and her english limited and you not being here much how much of your "girl" she is I would question.

    Property here is easy to buy but hard to rent and sell especially in non tourist areas, ask your self this questions do you know when the high season is for tourist? Can you make enough during 3-4 months to cover the expense the rest of the year? Who will you get to manage the property, please do not say your girl, 90% chance she will be living there with another guy while you are away. What are your total carrying cost monthly, how much can you rent it per day,night ,week to cover it & make some $$. Just a few questions I would ponder.

    Sounds like you are trying to help your girl but doing it from afar your efforts will be in vain.

    Whatever you decide good luck and be safe.

    Now can somebody pass me the popcorn this is gonna be good....but i have a feeling I seen this movie before.

  5. #5
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    Buy something in Punta Cana or Juan Dolio.

  6. #6
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    Default Make sure you know what you are talking about

    Quote Originally Posted by snh View Post
    no offense but what you are thinking is a bad idea from the way you are approaching it and has been tried many times, and you want someone to do all the research for you and just hand you a deal.

    Doesn't sound like you have been to santo domingo at all, i suggest you come to santo domingo and discover this for yourself as most of santo domingo is not really the 1st place tourist go to on the island, and the main tourist area is zone colonial which $50k or $100k will not buy you much that someone will want to rent out.

    And it sounds like your girl convinced you to help her open a store (just guessing) and there are alot of urban stores here, in the malls etc already and with your spanish limited and her english limited and you not being here much how much of your "girl" she is i would question.

    Property here is easy to buy but hard to rent and sell especially in non tourist areas, ask your self this questions do you know when the high season is for tourist? Can you make enough during 3-4 months to cover the expense the rest of the year? Who will you get to manage the property, please do not say your girl, 90% chance she will be living there with another guy while you are away. What are your total carrying cost monthly, how much can you rent it per day,night ,week to cover it & make some $$. Just a few questions i would ponder.

    Sounds like you are trying to help your girl but doing it from afar your efforts will be in vain.

    Whatever you decide good luck and be safe.

    Now can somebody pass me the popcorn this is gonna be good....but i have a feeling i seen this movie
    before.


    i'm not trying to open anything for my girl lets get that correct before you start saying a whole a lot of bull sh*t...and i would never let her manage it.. I got family in haiti who knows about real estate and wouldn't mind running it for me..and are you sure you know what you are talking about because i have been browsing the net and i have run into a few nice apartments in good areas that a lot of tourist people go to and they have been going for that amount.. And i wouldn't mind spending a little more i was just giving a estimate..i have been to santo domingo a few times just haven't stayed that long i only be staying for like 11 days next time i go i will be their for a month..next time you come on this thread to say something make sure you know what you are talking about...and make sure your bank account have some racks in their if not stay off this thread..

    Now pass me that dam popcorn bra because you haven't seen this movie yet

  7. #7
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    I totally agree with Robert.. you need to see the D.R. first... or at least the area you're interested in. BUT... if you're going to buy as a rental / investment you need to consider you target market. Overall, your best areas for tourists from N.America and Europe would be Punta Cana or North Coast (Puerto Plata / Sosua / Cabarete). In these areas at least there is already an awareness and established tourist trade. I don't know how popular Juan Dolio is with foreign tourists, but as a rough measure, I've never seen it advertised as a destination. In P.C., tourism is by far dominated by the A.I.'s. There is a small but growing market for condo rentals, but as Robert said, you need someone managing it for you.

  8. #8
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    Quote Originally Posted by Lando calrisian View Post
    Buy something in Punta Cana or Juan Dolio.
    Punta cana is to far i wouldn't mind juan dolio

  9. #9
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    Quote Originally Posted by Robert View Post
    I suggest you actually spend some time in the DR before investing here.

    If you need to be able to market your vacation rental and have a reliable person looking after it, if not, forget it, it's not a business.

    The DR has 1,000's of clothes boutiques, it's the first business, along with a salon most Dominicans think of starting. Unless you have a huge network of friends to support you, then you'll need deep pockets to finance your loss for a while.
    the boutiques was just an idea i had in mind the vacation home is my main focus i know i would need someone reliable to run it, that's why next time i go to DR i plan on spending a month or more to find out more about the business and to learn more spanish..i have a few people that a have rent from before and ask them some advise about it they told me they was welling to run it for me but i dont trust them..

  10. #10
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    Junior,

    Here's a post I put up earlier for someone asking a similar question:

    First, welcome to DR1. Your question is one that comes up fairly frequently on this board. The infamous saying around the island is "The easiest way to leave to DR a millionaire is to arrive as a multi-millionaire." While not impossible, it is very difficult for an inexperienced newcomer to do well right off the bat in DR.

    The general advice, which I think applies here, is as follows:

    1) First, move to the country, and spend at least 6 months to a year getting acclimated and simply paying attention to your surroundings. You can learn an awful lot by quietly watching what works and doesn't work in the country.

    1a) You'll also learn what a realistic budget is, and how much money you'll need to make/supplement to meet those requirements.*

    2) During that time, learn Spanish if you don't already have a solid grasp of it. Get to know as many people who can help you in business as possible.

    3) Find a business opportunity (meaning some product or service in which an unfulfilled demand appears to exist) that a) YOU like, AND b) you seem pretty good at. Learn the true costs and requirements of it by working for someone who's actually got an established biz. You'll learn how it really operates, who your suppliers should (and shouldn't) be, which officials you've got to work through, and who your real customer base is and how best to reach them (might not be in a mall at all).

    4) STRONGLY CONSIDER pursuing a business you can run remotely. Many people here work as freelance writers, translators, IT types, have e-commerce sites, consult, etc. That way you can run your business according to rules you are already familiar with, in your native language, and get paid at "home country" rates.

    Either way, good luck.

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