Hello...
I have a friend who has about $100,000 to invest. I was wondering if buying real estate was a good investment in the Dominican Republic right now and if you had any pointers regarding good places to invest, types of property to invest in, etc.?
Any thoughts, ideas, tips welcome.
I realize this is a very general question but we are just looking to get oriented right now.
Thanks!
Trotamundo
I have made a lot of money in real estate over the years.. I have sold it, bought and renovated, bought and flipped, owned rental property, owned vacation property.. and advised others on what and where to buy.
so .. here is my 2 cents which is worth more than I would feel right charging you for.
real estate is only a good investment if you actually want to live in it..
the days when it was a 'Sure" investment are now gone.
when you say... "to invest" does that also mean "to lose"? because anything other than.. (well I was going to say Treasury bonds but someone will argue with me on that ) ... so do you mean that you want the principal to be there in five years? or that you want to get an xx% return on your money?
If this is just funny money.. that you have to lose.. and you really want just a preservation of principal.. AND you and your partner (because it became a "we" thing) like it here in the DR enough to really consider living here.. and would perhaps enjoy coming down for a few weeks or a month.. AND could sustain the cost of keeping a place WITHOUT renting it... AND do not need a return from the money.. THEN.. with all those caveats, I would say that the DR is a good investment.
If you are Americans, a safer investment .. as one poster said.. would probably be FL.. since the prices have tanked and you can have a rental apartment in the States and get a very lovely 28 year write off on your taxes AND a mortgage deduction.. now if you do not actually understand what i am saying.. then probably this is not for you,
we are not suzie ormond here.. but one assumes that you have no mortgage on your primary residence. and no other debt, yes?
ok.. if we are still following here.. I would look on the north coast for places that are what are called condo hotels.. in that the management rents them out for you...
you will be at the bottom of the market in Las Terrenas
but may do better in Sosua .. which is getting cleaned up now so will probably increase.
The capital is full of sweet apartments in that range .. but it is a bitch to try to rent them..and you are only going to be able to do that if you are here.. plus it is a rent controlle market..
hope this helps