20k$ what to do with that ?

[greydread]

hi folks,

i thought that might be interesting to discuss what kind of business a foreigner can do with 20k$ in santo domingo ?

in fact i need help

B & B Epis Kreol
"Saz?n Creole" The only real Haitian owned and operated restaurant in Colonial Zone. Dine on some typical food at reasonable prices while drinking some Prestige beer (a great tasting larger made in Haiti) or Haitian rum. They also have fresh juices and some Haitian music for your listening and dancing pleasure.
Hours: 10AM to 12PM Sunday thru Thursday, 10AM to 2AM Friday and Saturday
Location: Calle S?nchez #255 and Calle el Conde, Colonial Zone, Santo Domingo
Contact: 809-686-5006

I met the owners of this place a couple years ago when they first started out. I haven't been lately and don't know how they're doing now but they started out on about half what you're working with in $20K US.

I'd say walk around the port area and Colonial Zone and find an easily accessible storefront for your startup. Nothing fancy or very big. When you find the place use your imagination and come up with something unique and fun. How about a tea house with karaoke in the back, painted all magenta, cyan and fucia? A place for the boys from the Naval Base to mingle with the cruise tourists (cruise the cruisers, so to speak). Just make sure you keep your tea fresh and steam, don't boil. Get fresh sweetbreads and fresh cut flowers every day and play a lot of Johnny Mathis and Liberace until it's "Karaoke Time".

Whatever you decide, make sure that your menu items are priced in $US and only give change in pesos. You will make more money controlling the rate of exchange than you will selling tea and cakes. Don't forget to stock up on the pomegranite-honey and make one bathroom "employees only" and the other "unisex"....and get lemons. Outside of the 4 stars nobody has any daam lemons.

 

[drstock]

1.) Put the money into cd. Banks are paying around 10% right now, maybe more. If central bank has re-started their cd program, put your money their and collect the interest.

I think there's a slight flaw in this idea. With inflation at about 10% here, the overall gain = zero. I believe that's why you get a much higher rate of interest on a RD$ account than a US$ account.

 

[greydread]

I think there's a slight flaw in this idea. With inflation at about 10% here, the overall gain = zero. I believe that's why you get a much higher rate of interest on a RD$ account than a US$ account.

Plug the #'s into a savings calculator.

Savings, taxes and inflation calculator | Ameriprise Financial

I used 5% inflation (based strictly on currency devaluation since 2006 without real cost increase calculation) and I didn't include taxes (assuming congressional priviledge, LOL!). That info alone should eat up whatever's left of your earnings and you'd be lucky to get your original $20K back intact.

Imtellenuman. Karaoke teahouse is the way to go. OP should consider paying Robert for a DR1 link to the live webcam.

<object style="height: 390px; width: 640px"><param name="movie" value="http://www.youtube.com/v/63J38oONe60?version=3&feature=player_detailpage"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/63J38oONe60?version=3&feature=player_detailpage" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="360"></object>

Savings, Taxes, and Inflation


After 7 years you will have accumulated $38,974.

After 7 years you will have accumulated $38,974 before taking taxes and inflation into account. Inflation and taxes would reduce the value of your savings by $11,276 over those 7 years. This leaves you with $27,698.

Results Summary
Savings Results Summary
Amount currently saved: $20,000
Amount to save per month: $0
Years to save: 7
Annual rate of return: 10.00%
Federal tax rate: 0.00%
State tax rate: 0.00%
Inflation rate: 5.00%
Total savings after 7 years: $38,974
Savings after taxes: $38,974
Savings after inflation and taxes: $27,698



Savings results by year

--------------------------------------------------------------------------------

Year
Total
Balance
Balance
after Taxes
Value After
Taxes and Inflation

1 $22,000 $22,000 $20,952
2 $24,200 $24,200 $21,950
3 $26,620 $26,620 $22,995
4 $29,282 $29,282 $24,090
5 $32,210 $32,210 $25,238
6 $35,431 $35,431 $26,439
7 $38,974 $38,974 $27,698


--------------------------------------------------------------------------------

 

[VJS]

how about a banca kiosk? there is a million of them in DR and presumably most of them are making money. I'd be curious to know the typical numbers for this type of business.

 

[Criss Colon]

How About A Bar,With A Card Room In The Back????????????????????????????????

You can call it,.


LIQUOR in the front,POKER in the rear!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1:bunny::bunny:

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

 

[Bronxboy]

You can call it,.


LIQUOR in the front,POKER in the rear!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1:bunny::bunny:

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

I didn't know you liked to be poked that way!!!!


lol

Payback!!!!!!!!! Thanks for the easy set-up. jejejeje

 

[Criss Colon]

It's .............."Poke"HER" in the rear!
cccccccccccccccccccccccccccccccccccccc

 

[AZB]

If you have some interest in technology example: smart phone geek- you can buy smart android phone off craigslist in usa and sell them for a profit here.
Here is an example: i bought a HTC HD2 windows mobile phone for 180-200 dollars in good condition in atlanta. I erased the windows 6.5 and installed android froyo on it with some customization to make the phone simple to use for dominicans. The same phone sold for 329 dollars in santo domingo. I used La Pulga Virtual - Pagina Principal. the 1st phone sold within an hour of posting on the webpage (free). A guy came from la vega on bus and took it away from me. Then I bought a few more of the same phones and all were sold quickly with more than 100 dollars profit on each. I didn't even have to go to them, they all came to me. Now, when I travel to usa, I buy good phones to sell them here. I have more than a few hundred dollars profit saved up to buy more phones or just to buy my dream phone samsung galaxy note.
If I every want to make quick money, I will bring a suitcase full of phone and sell them here like hot cakes. People actually come to you and you never have to go to them to sell the phones. You need to speak good spanish know smartphones inside out and be smart with the customers.
This is one example.

 

[rochele1]

i'm ok with bank thanks

 

[rochele1]

If you have $20,000USD I would put into into a bank account. Check with the major banks in SD. They are paying higher interest for a long term commitment than the banks in the US or you and I could go to the casino and parlay that into nada.

S

interesting idea

 

[rochele1]

There's not much you can do with 20k, but if you live here then you have some options to make a little money.

1.) Put the money into cd. Banks are paying around 10% right now, maybe more. If central bank has re-started their cd program, put your money their and collect the interest.

2.) if Central Bank is no longer doing CD's then, there are a few reputable places still paying 10%, maybe more. it could be a little more now but not sure. However, be careful with which finance bank you choose. A few, like my family's bank in Bonao and La Vega have been in business quite a long time and match whatever Central Bank is paying plus they allow you to compound your interest. Central bank doesn't allow you to compound interest.

3.) The benefit of allowing your money to compound will be, of course, if you don't need the money right away, it will grow every month so that each month, you're collecting a little more.

There's a lot of things you can do with it. the problem is that 20k is not much, that's why a bank CD is probably your best bet. Just remember, whoever you choose, research them thoroughly. if the bank doesn't absolutely require that you prove where the money is coming from and a letter from your bank confirming your long standing dealings with them, be supsicious. They could be another fly-by-night finance bank. If you can't put the money in Central Bank, then choose someone who's been in business for at least 20 years in the same location.

FRank

thanks Frank , really great help

 

[rochele1]

I appreciate you all guys for brilliant ideas , thanks for the time and thanks for the time again .

how about distribution business , how it works ?

from where should i start , what to import , how to distribute .

i've been living in SD for over 3 years,my spanish is not perfect but i understand so so .

 

[Castellamonte]

hi folks,

i thought that might be interesting to discuss what kind of business a foreigner can do with 20k$ in santo domingo ?

in fact i need help

Invest it with Roberto in DR1 !

 

[DRob]

The most valuable thing I'd invest in now, is TIME.

Get out there, learn the town, the business and political players, and understand the Dominican way of doing business. Try to work for someone who does what you're interested in, and then, MAYBE, invest in a business.

Otherwise, there's a very good chance you'll be much better off just tossing it in the air, and being the most popular person in town for sixty seconds.

 

[rochele1]

The most valuable thing I'd invest in now, is TIME.

Get out there, learn the town, the business and political players, and understand the Dominican way of doing business. Try to work for someone who does what you're interested in, and then, MAYBE, invest in a business.

Otherwise, there's a very good chance you'll be much better off just tossing it in the air, and being the most popular person in town for sixty seconds.

you talk frankly , and i like it

 

[PeteyPablo]

If you have some interest in technology example: smart phone geek- you can buy smart android phone off craigslist in usa and sell them for a profit here.
Here is an example: i bought a HTC HD2 windows mobile phone for 180-200 dollars in good condition in atlanta. I erased the windows 6.5 and installed android froyo on it with some customization to make the phone simple to use for dominicans. The same phone sold for 329 dollars in santo domingo. I used La Pulga Virtual - Pagina Principal. the 1st phone sold within an hour of posting on the webpage (free). A guy came from la vega on bus and took it away from me. Then I bought a few more of the same phones and all were sold quickly with more than 100 dollars profit on each. I didn't even have to go to them, they all came to me. Now, when I travel to usa, I buy good phones to sell them here. I have more than a few hundred dollars profit saved up to buy more phones or just to buy my dream phone samsung galaxy note.
If I every want to make quick money, I will bring a suitcase full of phone and sell them here like hot cakes. People actually come to you and you never have to go to them to sell the phones. You need to speak good spanish know smartphones inside out and be smart with the customers.
This is one example.

Hey AZB, I've not heard of that model...how does that phone compare to the Galaxy S 2?

 

[suarezn]

Hey AZB, I've not heard of that model...how does that phone compare to the Galaxy S 2?

Not sold in The US yet...Samsung just announced plans to bring it to The US.
Samsung GALAXY Note - Samsung Mobile

 

[TStroman3]

The best business opportunity is YOU!!!!! Put it in the bank or a CD- you'll make AND keep w whole lot more!!!!!

 

[imfromda305]

I keep reading about the bank story, what good is $2000 a year!?!

To invest money is always a risk, so you might end up losing $2000 a year but I think when it comes to making profit to me $2000 a year is a smack in the face knowing it came out of $20000!

***

Get yourself a HD Cam, find the finest hoochies..

1. You got Mike in Brazil, well.. you or your friend could be in DR.
2. You got the bang bus driving around in the States, well.. get yourself a ride and drive around DR.
3. etc.

Instead of paying high USA $, you're in a country that takes less for doing more.. the internet is called world wide web. Get that money all over the world while getting your dck sckd in paradise! What more could you ask for?!?

 

[imfromda305]

http://www.dr1.com/forums/living/120690-checking-bed-bugs-hotels-3.html

Do some study, buy the right equipment. Then print out some leaflets with horrible pictures of the damage been done by these bugs. Talk to the managers and make 'm scared so they'll end up begging for help.

And get it rolling..