invest info required

real state

... real state.. no doubt about it ...

rent/ get paid / get your inversion fast..

Robb :glasses:

Can't get 34% at the bank any more...now it's more like 18%.

Real-Estate

They ain't making it any more, buy now and just sit on it.
Your investment will come back thrice fold.

Gringo

There is an unasked question

Just what could you buy with just RD$100,000? Not much.

Therefore, the safest and best return would be to put the money in Central Bank certs for a year and let the interest ride.

If you invest in real estate, you have to spend mony to get the property "rentable" . Then you have to watch over it like a she-grizzley so that the renters don't make off with everything from the bidet to the broom closet.

Certs if you must.

HB

I am 50% in Real Estate and 50% in cash investments in the DR. Doing great in both although only doing US dollars in the DR and NO pesos.

If you want to take HB's advice I would be 50% into cash equivilents and 50% into Raw land that you don't have to watch over.

Scott

real estate

escott, that sounds like the best of both worlds. Is raw land hassle free? I.E. taxes, etc. What about homesteeders? Do you know?
Thanks,john

Where to buy the "Certificados" ?

Do I have to go to the BANCO CENTRAL in the Capital itself ?

Thanks

duhtree said:

escott, that sounds like the best of both worlds. Is raw land hassle free? I.E. taxes, etc. What about homesteeders? Do you know?
Thanks,john

Click to expand...

Taxes are to be paid but don't know many who do. It is minimal compared to anywhere else and can be paid in arrears. Homes under a certain value are tax free. Don't know a thing about homesteeders.

Scott

Stephan said:

Do I have to go to the BANCO CENTRAL in the Capital itself ?

Thanks

Click to expand...

As far as I know Banco Central is in Santiago.

El Banco Central de la Rep?blica Dominicana

Oficina Principal
Calle Pedro Henr?quez Ure?a
esq. Leopoldo Navarro, Santo Domingo
Rep?blica Dominicana
Apartado Postal 1347
Tel?fono: (809) 221-9111

Oficina Regional
Autopista Duarte km 11/2
Santiago de los Caballeros,
Rep?blica Dominicana
Tel: (809)583-5616

Escott said:

Taxes are to be paid but don't know many who do. It is minimal compared to anywhere else and can be paid in arrears. Homes under a certain value are tax free. Don't know a thing about homesteeders.

Scott

Click to expand...

Scott is right, taxes on raw land are due every year AND are minimal. I would NOT however recommend delaying payment beyond the due date (sometime in March as I recall) because this will attract a 20% 'Atrassas' (late payment fee) even if you are just one day late!

We had a visit from Rentas Internas inspectors last year & another one this year, so obviously they are hotting up on people who are not paying their due taxes. Fortunately we were fully up to date on ALL our taxes & could show them receipts etc. My advice to anyone with land would be:

1. Get along to Rentas Internas & pay what is your due, or
2. Start some minor building works on the site which will obviate the need for tax (or it used to) pending the property being fully built.

Delaying or "forgetting" to pay the tax due could land you in a whole load of trouble with back tax AND late payment fees. What is even WORSE though, is that DGII will start looking even more closely at your PERSONAL &/or business tax situation!! NOT good news. ~ Grahame.

Lechero said:

Oficina Principal
Calle Pedro Henr?quez Ure?a
esq. Leopoldo Navarro, Santo Domingo
Rep?blica Dominicana
Apartado Postal 1347
Tel?fono: (809) 221-9111

Oficina Regional
Autopista Duarte km 11/2
Santiago de los Caballeros,
Rep?blica Dominicana
Tel: (809)583-5616

Click to expand...

Thank You !
Since my knowledge about such certificates is limited to German ones :
How is the procedure ?
Do I have to go to the Central Bank and buy the Certificados by a cashiers cheque in Dominican pesos ?
Is it possible that the papers get stored by the bank ?
If yes,do they charge a fee for storage ?

raw land

duhtree said:

escott, that sounds like the best of both worlds. Is raw land hassle free? I.E. taxes, etc. What about homesteeders? Do you know?
Thanks,john

Click to expand...

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Raw lands ... or solares Baldios (empty spaces) have a huge tax called IVSS and its the most unfair tax around because its very $$$ and those empty spaces aren't making profits...

my advise .. dont do it .. im having real trouble with that

Thanks for the replies on land taxes, guys.
Escott: homesteeders should have been homesteaders or squatters. Un invited tenants.
And Roberto/Bushbaby: are you saying that if I just "break ground"on a site I have overcome the taxation of that property? Please clarify and thanks guys.
1st round of whatever is on me on or after the 18th. John

If you 'break ground' you are still liable for taxes as for an unbuilt lot. This is a lot less than the taxes on a finished house, which if above a certain minimum will incur IVSS. Roberto, are you paying IVSS on empty ground? This is a new one to me........I have only ever paid it on a finished house.

IVSS= Impuesto a la Vivienda Suntuaria y Solares Urbanos No Edificados

If you have an empty lot, you probably will have to pay the tax.

http://www.dgii.gov.do/norma11-01.htm

This is the norm for IVSS on lots with construction in progress.

If you start building on your lot, apparently the norm states the construction should be at least 30% of size of the solar.

If your solar is less than 5,000,000 rd$, maybe it is exempted.

If your start building just to avoid taxes, you might have to consider building regulation and taxes also. Not sure it's worth doing.

Barnab?

Why do you all feel so safe owning land here?

I remember being in Grenada when the President decided that he didn't like someone -- and she was native born and he gave orders that she was not to be let off the plane.

I remember when the owner of a hotel in Tahiti, who had lived there for 25 years, was married to a Tahitian, had 2 children by her - was ordered off the island in 24 hours for yelling at two kids who had walked through the hotel's newly built private swimming pool in Moorea. In Tahiti - which many be the last civilized place on the planet, one does not yell at children.

So what makes all you foreign born people with the bought cedulas feel so safe here that you would put all your money into land that does not belong to your ancestors on the words of some Ladino lawyer ?

What if Venezuela and Cuba take the War instead?

Or do none of you plan to live that long?

Or don't you know that there is a war going on?

Or do you think it is just a lot of little wars?

Pretty soon you may start to see it as the rest of the world vs the United States of America.... Think about it.

just a little plastic curtain in the Mona passage - Haiti to the east, Cuba to the west - Jamaica to the South.... The Jews of the last settlement were already driven out. The Germans tried to advance to Limon but the last one killed himself.

What makes you think you can establish a beachead and take Hispanola?

Or do you think that the five families can hold it for capitalism?