generating an income stream...

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explorer1

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Jul 7, 2013
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Hi.

Opinions, please.

If you were to take the plunge and go live in a foreign land, without the security of social security benefits and no pension (too young), would you think it advisable to try to establish an income stream prior to arrival, or take the money and try to do something with it outside the U.S.? Not talking about a great deal of loot...say $200k.

Seems there are drawbacks to each scenario, but I often see "income from rental property" cited as examples of income sources in descriptions of residency visa requirements.

Again... please let's see a few opinions before we begin talking about the new and improved crotch mounted chica magnet that's about to hit the market. :)
 
Luperon

Luperon

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Wow only 17 minutes have elapsed between your posts.

200k in a Dominican bank might get (6% I could be wrong?) you $1000 a month in interest, maybe enough to live on. Then get a job in the business you hope to enter and learn for a few years.

But you need a little patience.
 
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explorer1

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Luperon said:
Wow only 17 minutes have elapsed between your posts.

200k in a Dominican bank might get (6% I could be wrong?) you $1000 a month in interest, maybe enough to live on. Then get a job in the business you hope to enter and learn for a few years.

But you need a little patience.
Click to expand...

My bad. I am a procrastinator turning over a new leaf, and therefore bereft of patience. Your point is well taken.
 
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dv8

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Sep 27, 2006
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do i understand correctly that you have 200k dollars to invest to create a source of income? i cannot even suggest anything state side, i do not know about property prices there or rental opportunities. here in DR you could change it into pesos and possibly put it in some CDs. monthly interest could maybe create some small income.

edited to add: you can also keep the money in dollars but the interest rate is less favourable.
 
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MJSantoDomingo

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Apr 13, 2011
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$200K is a lot money - unless you waste it all on buying a new car and buying an apartment, leaving you nothing to live on...
(And probably not enough for "rental property" investment, especially with all the other expenses after buying a property...)
But if you can keep yourself to a monthly budget, then you can make $200K last years (especially if it is only you)...
Use a small portion to rent an apartment (furnished or buy basic furniture/appliances), get a used car to get around - then put $50K aside to use for your budget for 2 years - then invest the rest into something that will still allow access to the money if you need it, yet earn interest - especially if it is only you.
If you had much more than $200K, then you can think about buying property or rental units (after you have been here a while, because you may not like the way the business is done in the DR).

(And give people some time to answer - waiting 15 minutes for a reply is not enough time on a forum to expect responses...)
 
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explorer1

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dv8 said:
do i understand correctly that you have 200k dollars to invest to create a source of income? i cannot even suggest anything state side, i do not know about property prices there or rental opportunities. here in DR you could change it into pesos and possibly put it in some CDs. monthly interest could maybe create some small income.

edited to add: you can also keep the money in dollars but the interest rate is less favourable.
Click to expand...

I am unfortunately a bit poorer than that. But in the Midwest, property can be had for quite a bit less than in communities such as the Northeast or West.
 
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skinny36

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Mar 2, 2010
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Is money safe in the banks in the DR though?? is there deposit insurance??

Luperon said:
Wow only 17 minutes have elapsed between your posts.

200k in a Dominican bank might get (6% I could be wrong?) you $1000 a month in interest, maybe enough to live on. Then get a job in the business you hope to enter and learn for a few years.

But you need a little patience.
Click to expand...
 
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dv8

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Sep 27, 2006
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not to sound very pessimistic but 200k is not that much and if you have less... don't buy in DR and limit your settle down budget. rent a small apartment, one bedroom is enough for you and a chica if you want to have company. don't buy a car. save as much as you can so you can put more money into CDs. the more you put the more you get.

and yes, a CD is a dominican bank is safe. just do not go and invest with con men who offer high rates and make empty promises. we all know how it ends up.
 
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jabejuventus

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Feb 15, 2013
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Why are you publishing your worth in an online forum? $200k might be nothing to some, but substantial to others who then might think to find a way to get closer to you.
 
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explorer1

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jabejuventus said:
Why are you publishing your worth in an online forum? $200k might be nothing to some, but substantial to others who then might think to find a way to get closer to you.
Click to expand...

I am not quite as dumb as I look. If I had that kind of loot I would likely be talking to you from... who knows where. I was approached by someone with an idea... of course he also has a property to sell, and more than one investor. Yes... it could be a scheme, but I know for a fact that one of the potential investors is relatively well off. I am in the unfortunate state of being poor enough to consider pooling my resources with those more fortunate than myself. I personally am of the mind that more could be done with the money outside of N. America, in one of the many places it stretches further.

OK.. I am beginning to sound like the guy who told me he and a partner went to Brazil decades ago because somebody had farmland to sell...
 
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LeeStetson

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Jan 11, 2012
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You could take your 200K and purchase income producing websites at flippa.com, but if you do that please make sure that you either have flippa do the due diligence for you or you learn how to do the due diligence so that you do not get a scam website or two.

Or you could get involved in DSD that will allow you to have a portable income and start your business with very little. That way, you are not putting your money at risk. I saw it advertised on this website: portableincome.net

I hope you find what you are looking for,

Lee
 
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dv8

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recycling is a costly business. 200k dollars is NOTHING if you want to start a recycling plant. i posted months ago a story about a small recycling plant in SD, located under the bridge and sorting rubbish from ozama river. that thing was 120k dollars. and it's under the bridge.
 
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explorer1

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LeeStetson said:
You could take your 200K and purchase income producing websites at flippa.com, but if you do that please make sure that you either have flippa do the due diligence for you or you learn how to do the due diligence so that you do not get a scam website or two.

Or you could get involved in DSD that will allow you to have a portable income and start your business with very little. That way, you are not putting your money at risk. I saw it advertised on this website: portableincome.net

I hope you find what you are looking for,

Lee
Click to expand...

Yeah...well...not MY 200k...my contribution would be substantially less (embarrassingly small), so I don't have a great deal of leverage. That is why I am soliciting ideas...like this one. I just want to be the guy who actually does the traveling in conjunction with the idea. I think they are sold on property acquisition in the States, however. Never say die.
 
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Lobo Tropical

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explorer1 said:
Yeah...well...not MY 200k...my contribution would be substantially less (embarrassingly small), so I don't have a great deal of leverage. That is why I am soliciting ideas...like this one. I just want to be the guy who actually does the traveling in conjunction with the idea. I think they are sold on property acquisition in the States, however. Never say die.
"I am not quite as dumb as I look".
Click to expand...


I look smarter than I am, which initially helps but then catches up with me.

Since you don't have much money, don't put the little you have into "investment" schemes.
Save in the US where you have better chances of income.
If you are legally allowed to work in the DR spend two years there and see which opportunities are to your liking/skills.
No matter what you do need an income stream from somewhere, only dreams are for free!
Which does not mean that change is unachievable, you got to bust a move!!!
 
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Criss Colon

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Jan 2, 2002
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yahoomail.com
When I got out of the Navy, I moved to Boston, it was 1971.
I lived in a cheap apartment on "Beacon Hill", the "BAD SIDE"!
I ate canned mackerel 3 times a day,at 20 cents a can, on soda crackers and mustard.
I ate as much other food as was free at work.
I then told the owner of the building, I could move into the apt, he used as a storage unit, pack all his "Stuff" into the two bedrooms, and sleep in the living room if he would accept $100 a month!
He agreed!
I worked at the same hospital there for 25 years!
I maxed out my 403b plan every year for 25 years.
I later got better housing when I got married, and bought a cheap house before my son was born.
I paid 44,000 for the house, I sold it for 187,000 when I moved here 18 years ago.
I retired at 50!
You should do something similar!
There may be legal ways to make a ton of money for very little effort.
When you find one write a book, and live on your royalties!!!!!!


Do you know how to leave the DR with a million dollars?
I DO!
Come with two!!!!!!!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 
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explorer1

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Jul 7, 2013
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Lobo Tropical said:
I look smarter than I am, which initially helps but then catches up with me.

Since you don't have much money, don't put the little you have into "investment" schemes.
Save in the US where you have better chances of income.
If you are legally allowed to work in the DR spend two years there and see which opportunities are to your liking/skills.
No matter what you do need an income stream from somewhere, only dreams are for free!
Which does not mean that change is unachievable, you got to bust a move!!!
Click to expand...

Don't think I am allowed to work there legally...
 
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explorer1

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Jul 7, 2013
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Criss Colon said:
When I got out of the Navy, I moved to Boston, it was 1971.
I lived in a cheap apartment on "Beacon Hill", the "BAD SIDE"!
I at canned mackerel 3 times a day,at 20 cents a can, on soda crackers and mustard.
I ate as much other food as was free at work.
I then told the owner of the building, I could move into the apt, he used as a storage unit, pack all his "Stuff" into the two bedrooms, and sleep in the living room if he would accept $100 a month!
He agreed!
I worked at the same hospital there for 25 years!
I maxed out my 403b plan every year for 25 years.
I later got better housing when I got married, and bought a cheap house before my son was born.
I retired at 50!
You should do something similar!
There may be legal ways to make a ton of money for very little effort.
When you find one write a book, and live on your royalties!!!!!!


Do you know how to leave the DR with a million dollars?
I DO!
Come with two!!!!!!!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Click to expand...

Times have changed...and I am past 50...
 
C

Criss Colon

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Jan 2, 2002
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I worked in a major hospital here "Illegally" for 10 years, and for the government!!!
It depends on who you work for, and/or the connections they have.
CC
RE above post.
You still do have two chances to move to the DR and be happy!
"Slim" & "NONE"!
And "Slim" just got in a"Yola" headed headed for "Mayaguez PR"!!!!!

You are "Over 50" with no money????
How does,.."To Soon OLD, To Late Smart" sound to you?????
You sound like the guy who said,
"When I was a young man, I spent all my money on, wine, whiskey, women and gambling"!
The REST I just wasted!
 
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