Selling it all, moving to the DR

akitakids

New member
Aug 23, 2005
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My girl and I are checking out of Boston and making the move next year. We've been in the grind for too long and are going to buy and run either a rental villa, or small hotel (typical I know) closer to high end than to affordable. Any help with the following questions would be greatly appreciated.

How realistic are the asking prices? For example is it common for a seller to ask for 1 million USD and sell for 500,000, 600,000 USD?

When is the best time to buy (spring/summer)?

What's the best area for this type of business (we're thinking north coast)?

Most importantly, any real estate/business advice you have will be awesome!!! Thanks-
 

AnnaC

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Jan 2, 2002
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akitakids said:
Most importantly, any real estate/business advice you have will be awesome!!! Thanks-

The best advice anyone can give you is to keep your money in the bank until you have throughly researched the area and lived in the DR for about a year.

Not sure how much DR experience you have but you need to know the country and market well before investing that kind of money.

Good luck
 

RHM

Doctor of Diplomacy
Sep 23, 2002
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www.thecandidacy.com
Anna Coniglio said:
The best advice anyone can give you is to keep your money in the bank until you have throughly researched the area and lived in the DR for about a year.

Not sure how much DR experience you have but you need to know the country and market well before investing that kind of money.

Good luck

Great advice. Come down and live for a year or so. Take a good look around. Learn some of the language. Soak it in. If you have the kind of money to buy and maintain such a place then taking a year to do some market research should not be difficult. Explore the island and all of the different locations. Your idea is far from unique but few make it a profitable reality.

The questions you are asking are questions I would expect someone to know the answers to LONG before they make the decision to come down. But hey. Everyone has their own style.

Scandall
 

duck

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Mar 20, 2005
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leaveit in the bank

If you have that kind of money, leave most of it in the bank. You can derive a good income from the interest / dividends / etc., and do something small to supplement that income (ie: work for someone else, that way you can quit when you are tired as opposed to have to sell a lot of stuff ...).

As the others suggested, don't buy anything for the first while until you are very sure and have a good feeling of the place.
 

shadInToronto

On Vacation....
Nov 16, 2003
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You need a plan

akitakids said:
How realistic are the asking prices? For example is it common for a seller to ask for 1 million USD and sell for 500,000, 600,000 USD?

When is the best time to buy (spring/summer)?

What's the best area for this type of business (we're thinking north coast)?

Most importantly, any real estate/business advice you have will be awesome!!! Thanks-
If you're investing that kind of money or any amount of capital for that matter, you'll need to do thorough research and then seek advice from expat pros like Escott et al. It's hard to acquire that amount of capital but, very quickly you can lose it all with very capable help there.
 

Chris

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Oct 21, 2002
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The DR is a buyer's market... you can offer anything on anything... but then it also is a "let the buyer beware" market. Come on down, chill out a little, check out some places and don't flash cash until you are absolutely sure about what you're doing.
 

carina

Silver
Mar 13, 2005
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Stay at a hotel for 2-3 weeks.
Check the different areas out before even consider renting a villa or simular.
Even the towns on the North Coast are very different from each other, and you would need to see what suits you.
Rent for at least 6 months up to a year, before consider buying a property.
It is, as Chris said, the buyers market, and more or less everything is for sale.

In the meantime, invest money you might have in your own country and live of the income from the interests.
Most of us expats living here, that have something to invest, do it by Anoeca here in Puerto Plata ( www.anoeca.org ).

You don?t state what you plan to live on, if you need to work or not, and that would also matter when chosing a location to live.
 

gringagirly

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Mar 7, 2005
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become a millionaire

Take all this advice to heart......the best way to come here, make money and leave here as a millionaire????? COME here with 2 million................