Is anyone willing to give advice on hotel business?

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DaniK

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Dec 10, 2012
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Hi Everyone. I am new to this forum. Wishing to live there in the Dominican Republic, and one of my brothers thought about investing in a B&B or small hotel in the north coast. I don't know the area, I don't know the rules, I don't know anything. I can research the laws, of course. What I wanted to knmw...
Is it a good idea in anyway? Does the area support any more touristic facilities, or is it ok as it is?
Thanks!!
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
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DaniK said:
Hi Everyone. I am new to this forum. Wishing to live there in the Dominican Republic, and one of my brothers thought about investing in a B&B or small hotel in the north coast. I don't know the area, I don't know the rules, I don't know anything. I can research the laws, of course. What I wanted to knmw...
Is it a good idea in anyway? Does the area support any more touristic facilities, or is it ok as it is?
Thanks!!
Click to expand...

Clearly!

You will get a better rate of return donating it to a children's charity, at least you get a tax write off. Playa Dorado has less than 50% occupancy, so I am not quite sure you will break even more than three months out of the year. Best of luck.
 
Bronxboy

Bronxboy

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Jul 11, 2007
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Quick story. When i lost my job in 2008, I used some of the cash I had to open a hotdog/kbab stand.

When I finally rented the permit for The BX, I went to a corner on Marion and Fordham Road. A big Greek guy told my helper and I, "You are stepping on my shoes". That was enough for me to find another spot. Didnt last for long since the Accountant in me could not sell food.

I think same will happen in DR. I think you need to know the right people in order to compete with their business.

I say dont even try it!!!!!
 
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D

DaniK

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Dec 10, 2012
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Tamborista said:
Clearly!

You will get a better rate of return donating it to a children's charity, at least you get a tax write off. Playa Dorado has less than 50% occupancy, so I am not quite sure you will break even more than three months out of the year. Best of luck.
Click to expand...

I think i've read this about bars.
 
D

DaniK

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Dec 10, 2012
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Bronxboy said:
Quick story. When i lost my job in 2008, I used some of the cash I had to open a hotdog/kbab stand.

When I finally rented the permit for The BX, I went to a corner on Marion and Fordham Road. A big Greek guy told me and my helper "You are stepping on my shoes". That was enough for me to find another spot. Didnt last for long since the Accountant in me could not sell food.

I think same will happen in DR. I think you need to know the right people in order to compete with their business.

I say dont even try it!!!!!
Click to expand...

I am sorry to hear this.
 
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mbgmike

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Jan 17, 2012
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I know it's tough in the US. I would imagine its harder here. My wife's family has been running businesses for generation s here. One for over
120 years. It helps to have lots of money
 
F

fuchs4d

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Mar 7, 2004
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Wrong time and wrong place

DaniK said:
I don't know the rules, I don't know anything.
Thanks!!
Click to expand...

At least you know an important thing. This is a lot more wisdom than most business entrapreneurs have.

For the north coast at this time I would say:
wrong time and wrong place for a hotel business (or any other).

There always are exceptions, for example the small hotel "Orchid" in the center of Sosua run by an intelligent swiss guy in his best years.

Try to live there in a small hotel some time and study the things around.

As always my advice:live in the Domincan Republic if this is where you want to be, but with enough money in the bank and always with an exit option.

BTW, I spent about 8 years since 1993 there and had a great time, but today I am glad I left this place.
Used to be an happy island, today I do not see the happiness I saw 15 years before.

Better make your money at a safer place, save as much as possible and enjoy your vaccations there.

Alexander
 
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DaniK

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Dec 10, 2012
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mbgmike said:
I know it's tough in the US. I would imagine its harder here. My wife's family has been running businesses for generation s here. One for over
120 years. It helps to have lots of money
Click to expand...

But is it like that kind of business that would ruin you, destroy your life, make you consider drinking yourself to death, or donating all you could have to the government?
I mean... The idea is not making millions out of tourists. It is leaving the country he lives now - it is not US... we live in Brazil. Moving to the Caribbean, starting a new life with some "ok" perspective. I believe thyat, as your wife's family, some others also run hotels there. Is it THAT bad? Or is there any problem in the North Shore? In 48 hours I have read "do not move to DR", "you will get food poisoned by Latin food" - I am Latin American!!! - "you will need extra rum", "don't trust this, don't trust that"...
This country of yours seems to be such a nice and welcoming place...
 
D

DaniK

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Dec 10, 2012
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fuchs4d said:
A

As always my advice:live in the Domincan Republic if this is where you want to be, but with enough money in the bank and always with an exit option.

Alexander
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Thanks Alexander. If I am not asking too much, how much does a couple needs to live an average life there?
This research is not really for me. I don't plan on investing on anything, anywhere :)
But I DO plan on moving to this island. I read a lot about the cost of living there, and it seems to be quite low compared to Brazil. I don't know if this is real though.
 
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Castle

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Sep 1, 2012
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I can't understand the reason why people keep telling others the worst things about DR. There are a lot people making big bucks in all kind of businesses here. Of course it's tough. Making money is not easy anywhere. But the OP could be even tougher. Me, I know I suck at selling stuff, but I know people who are doing very well....
 
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DaniK

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Dec 10, 2012
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Castle said:
I can't understand the reason why people keep telling others the worst things about DR. There are a lot people making big bucks in all kind of businesses here. Of course it's tough. Making money is not easy anywhere. But the OP could be even tougher. Me, I know I suck at selling stuff, but I know people who are doing very well....
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THANK YOU!!!! This is exactly what I mean, even not even knowing the place. It goes from prostitutions areas (as if there were only in DR) to "you'll loose all you have".
 
Bronxboy

Bronxboy

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Jul 11, 2007
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DaniK said:
THANK YOU!!!! This is exactly what I mean, even not even knowing the place. It goes from prostitutions areas (as if there were only in DR) to "you'll loose all you have".
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Danik:

Some of the members here have been there, done that. It would nice to here success stories but they are far and between.

Tough love = SAVING HEARTS AND MONEY!!!!

Isn't this why you are asking? Maybe you want to hear all is roses?
 
D

DaniK

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Dec 10, 2012
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Bronxboy said:
Danik:

Some of the members here have been there, done that. It would nice to here success stories but they are far and between.

Tough love = SAVING HEARTS AND MONEY!!!!

Isn't this why you are asking? Maybe you want to hear all is roses?
Click to expand...

Hehe, sure, I would love to. Sugar cane plantations in La Romana or things like this.
I'll make sure to tell my bro to spend his money is something pretty, like shoes or whatever, before investing there.
It is actually sad to know that everything is so bad there, at least in the North part of the island. Looked like such a nice place. I was planning to move and live there (nothing related to hotels, bars, whatever). But.... Maybe Jamaica. Or maybe next life.
 
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