Lets say we just wanted to pack up and move there....

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hopmac

New member
Jan 12, 2004
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Life as per usual pretty much gets boring. After years of toiling at work, and not getting much ahead of the game, my wife suddenly comes up with....."hey why don't we just pack up and move to the DR!" We are in love with Sosua/Cabarete areas. She loves it there. We go on holidays, and we have met some pretty great people. Our daughter is now 23 and living in Ottawa, so we really have nothing to keep us here. We are in our early 40's, fairly fit, and willing to take a chance on life.

We have two homes (one is a rental house), both mortgaged. I can sell one, and I would keep the other one as a rental. I would probably have about $50000 in actual cash left after the sale of one. I would have approx. $400 per month in excess rental income from the other house.

Here are the simple questions....No need to keep your answers as simple. You may disclose all of the negatives, but please try and come up with some positives for us.

1. Is it fairly easy to move there?
2. Can one find a job? Even just bartending or waiting tables.
3. Can you find a reasonable place to live?
4. Does the govn't make it difficult? The police?
5. Should we get residence status?
6. What the hell could we do with only $50000.00?
finally...
7. Are we crazy-nuts-plain old stupid, or is this somewhat feasible?

In all serious folks, this is something that we are seriously interested in and considering. Any help you can share is greatly appreciated.

Thanks all,

Hoppy
 
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hopmac

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Jan 12, 2004
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Incidentally..

In addition: I'm not against starting or opening a small business, I have seen "needs" that are not answered, I do have some access to extra funds and I do have a great history with Scotiabank, and they are based there as well, this I know. I would just like to come there, get a feel for the place, get any kind of job with people (I have been in sales management within the automotive industry for 20 years and have always loved dealing with the public) I just thought that we'd take a look around and go from there....blah blah blah

H.
 
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AnnaC

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Jan 2, 2002
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How long have you been reading DR1? Do you have any idea what is going on there? 50,000 is like 37,000 us dollars and that won't buy much of a house if at all. Have you read about the gas shortage, the long black outs?

Why not stay home and take many holidays or even stay the winter months in oder to find out what life is really like after 6 months.

Keep reading DR1 before pulling up stakes.
 
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Larry

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Mar 22, 2002
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How much "extra funds" to you have access to? Sounds to me like you probably don't have enough money and judging by the structure of your OP, I think you have a lot more homework to do. You are still young. Why not wait until your properties appreciate a little more to give you some more leverage and do some more research in the meantime.

Larry
 
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hopmac

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Jan 12, 2004
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I am converting the $ to US funds. $50k is US. $400 per month is US as well. I have been reading and following the postings on Dr1 for a few years actually. I have only posted recently. We returned again from the DR two weeks ago. We have spent time on the East and North Coasts. I am aware of the current situation in regard to fuel, and economy as well. To be frank, I am not letting this bother me too much, as I am confident that it will be "liveable" IN TIME.

It is not as if we aren't doing this tomorrow. We are thinking of trying it within a year though.

Let me also clarify for you that we didn't expect to cash out $50000 and live forever. This is not like we are looking for some kind of early retirement by any means, it's a matter of truly wanting a different lifestyle. I do want to work down there as well. We don't care so much about living in a large home, or driving around $60000 automobiles. We do appreciate simplicity in our lives.

We even went back to tent camping a few years ago and have been loving it ever since. We get out for 2 weeks in July and again in August every summer.

We are not against trying it out for 6 months either. It is simply a request for info and assistance with knowledge.

Hell, we may try this for a year and decide it wasn't the right decision and move our butts back home. Who knows. The point is that we're willing to try it. Life's too short anyway.

H.
 
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Timex

Bronze
May 9, 2002
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Hola Hopmac!!!!!

DR1 has---
Members: 6,019, Threads: 27,481, Posts: 178,041
Welcome to our newest member, sk_man

Do your homework (Search, Search, and Search again!)
Ask your questions.
And Good Luck!

A Good Place to Start.
Popular Post's / Past Sticky's. Required reading for Newbies!!! NEW! NEW! NEW!

With Topics Like.....
MEDICAL / MONEY / ADVICE
MOVING TO THE DR
* WORKING IN THE DR / AND WORK RESOURCES.*
*ENGLISH / SPANISH PHRASE GUIDE.*
And more!!!!


Hopmac, don't forget to check out the page 2 link on moving. And look for post's from Escott, Ken, BushBaby, anybody from the North Shore.


By the way---
Welcome to DR1!!! :cool::cool::cool::cool:

Thanks
Tim H.

Help, and be Helped.
That?s why were here!!!
 
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Adrian Bye

Bronze
Jul 7, 2002
2,077
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Realistic scenario:

1. Your $50k is gone in 18 months (you've been ripped off, relocation costs were higher than you expected, the car was expensive, etc)
2. You can only find jobs locally paying about $200 US/month
3. Your primary income is $400/month from your rental property.
4. Your monthly spending is $900/month

What do you do?
 
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Escott

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Jan 14, 2002
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www.escottinsosua.blogspot.com
On 50k you can get about 125-$ a week US income at the most.

Work is difficult here and I would NOT even consider it without NOT HAVING to do it.

You can live frugally on the income in a place that is pretty safe but not 100% safe and by cooking at home.

If you are still employable if you needed to return take the shot, live close to the vest and enjoy the nice weather. Doesn't work, go back and treasure your experience.

Good Luck,
Scott
 
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mountainfrog

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Dec 8, 2003
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7 Answers

Hoppy,
these are my answers:
1. Yes.
2. Yes, but it does not pay.
3. Yes, if you have the money.
But you like camping, don?t you?
4. No.
5. Why not?
6. Watch it dwindle.
7. Neither.
Live your dream.
Dreams are short.
All the best .
M?frog
 
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suarezn

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Feb 3, 2002
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Hopmac: It sounds like you're the kind of person who could do this. You seem to have the right attitude...I say go for it, but before you do understand what you're getting yourself into. 400 USD/month is about 22000 pesos/month. With that money you could live very modestly in a smaller town in the DR. You probably are not going to be able to own a car (gas at 100 pesos a gallon), you could probably find a small house for about 5000/pesos month in a smaller, non-touristy town (don't expect much though), you could probably eat well (as long as it is not imported produced food) with about 10,000 pesos/month - I'm talking rice and beans, platanos, yuca, chicken, etc...Not steak. Some people in this board claim they invest with someone in the Sousa area thwo gives them better than 10% return a year. If this is true, you could invest about 40,000 of your "nest egg" which would give you an extra 300+ USD/month to cover the rest of your expenses.
Make sure you earmark about 2500 USD for a nice inverter and a tinaco (water tank) to help out with the power and water problems. This will make your life so much easier...
If after a little while you decide this is not for you, then you can always go back home and resume your previous life.
 
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suarezn

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Feb 3, 2002
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Re: Previous Life?

mountainfrog said:
Not really.
With the house sold and the money evaporated in the DR , it?s back to square 1.
M?frog
Click to expand...

I thought he said they would sell only one of their houses and the other one they would keep for income. How would the money evaporate, if he had the 40k invested with this guy Escott invests with and they only took out the interest?
 
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mountainfrog

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Eating the House

Well, 300 U$ is not enough to live on (especially if one is new here), so Hoppy would surely at some early point start eating his house (or rather the proceeds from it).
Going back he would remain with the other house, that?s true. But isn?t that rented out?
That?s why I called it Square One.
I might give in to Square 1.5 though.
M?frog
 
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Simon & Nicky

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Feb 3, 2004
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Scotiabank (apparently reputable)? Quoted me 19% pa on a million pesos last week on a 3 months notice account. To live well in DR you need 800USD per month (so I've been told before) - do your own maths!;)
 
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Adrian Bye

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Jul 7, 2002
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Simon & Nicky - great idea!

Take your million pesos.. get 19% pa.. and then also factor in that you're losing 40% pa.. because of peso deflation.. What happens when you do the math then?
 
Hillbilly

Hillbilly

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Jan 1, 2002
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My tqke on this

It is possible.

For example, there is a tiny business out in Punta Ruc?a that needs someone to run it. A little hotel and bar calle Punta rucia Sol. The owner was killed last August in a motorcycle accident, and it sort of in limbor right now. Not a huge business but certainly doable by a couple. You are out in the booonies, like Tent camping all the time. You will have to learn Spanish asap!

However, I am sure that there are other options.

Forget Scotiabank here, they are in no way tied to the one in Canada....except by name.,Besides they are so tight a$$ed that you would need grease to put a pin up their butts..Very conservative, to say the least.

Do you have enough money? No, but you have a heck of a lot more than many people that come here.

For two people, $400 might be tight until you learn the ropes. do you know yuca, yaut?a, platanos, ?ame? Salchich?n? If you can adapt to local eating habits, you have a chance, for sure. If you want to eat as if you were in Canada, there is no way in Hell that you will make it.

You might look at living in someplace that is not sosua or Cabarete, where you are looked at as a source of dollars and a chicken to be plucked. (That is why I thought of Punta Ruc?a..but that is pretty short term)

I think I would decide how much of the $50K I would be willing to lose without regrets. then I would take that money to make myself comfortable. You can find an apartment that will be suitable and then live off the $400, paying the rent from the $400.

You can party and socialize with whatever you can earn...And it will be tight for a while, but again, I say it is doable, if you are flexable. do you have medical problems that will eat into your $400 or your remaining $$? Things like med evac clauses in your health insurance would be a nice thing to have in your back pocket, ..

Hope to hear more on this..

HB



As for residency, yes, you should get it, it will smooth a few things for you.

Obviously, you need to reconoiter a lot more before taking the plunge.
 
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mountainfrog

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Feasable

Remember, it?s the different lifestyle Hoppy is seeking. And surely he will get it.
So many come here because they are fed up with all the luxury they live in.
Well, given a frugal lifestyle, I think it?s feasable to live on 800 U$ a month.
This would even include the replacement of their tent every 6 months or so (theft, wind damage, etc.)
M?frog
 
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hopmac

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Jan 12, 2004
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Your killing me

Everybody has so many opinions. Thanks for your replies.

We have no intention of living in a tent by the way. My point was only that we got away from excess costs like fancy hotels, and motor homes and STILL ENJOYED it as much if not more. I don't exactly spend a lot of time out in the "boonies" or the either. We take advantage of the State Parks, and even some of the provincial parks in Ontario. Most of our time is down in the Apostle islands on Madeline Island every July and August. Beautiful island, go if you've never been before.

We are not afraid to take chances on life anymore. We have lost so many family members in the last few years including our son this past summer (19 yrs. old). Sometimes, you just gotta say **** it and change your outlook. Turn the page and start a new chapter as they say. It's not about a house. We have a beautiful home which we spent over 18 months completely renovating ourselves. New kitchen, bathrooms, basement, lighting, hell it was almost everything. It doesn't matter, it's empty for the better part of the day, and we both get home at 7 or 8 every night. My job should I choose to return home in time, is not a problem as it is a family business.

$400 per month is not my limitation on monthly income. I have no problem spending the $50k and seeing what happens. I still have another house that we can sell. Aside from everybody trying to make money off of me down there, I also believe that there is money to be made. Sometimes the locals just don't see it.

Anyway, It's something that we would like to go for.

Thanks folks,

Hoppy

P.S. You know when it comes down to it, we don't have to live in Sosua or Cabarete either. There are other beautiful spots and towns. I am not necessarily looking for anything particular in these two towns, other than the fact that this is where our friends and family come to visit.

Thanks again
 
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