Real Estate Investment

Pikobello

Active member
Nov 12, 2020
247
237
43
Santo Domingo
Hi at all. It,s possible that some threads of this kind are existing, but I want some actually information, sohere we go:
There are a lot of Real Estate companies here in DR who offers Investments and do all the work for you ( Maintenence, searching for renters, making the contracts).
So my question for the members here, have or had anyone of you Experience with those companies and is it worth the Investment you made?
Thanks for sharing your Opinion
 

johne

Silver
Jun 28, 2003
7,140
2,993
113
So nobody here has or had a property in the DR and rented it out through a real estate companie? That's strange...
You're talking about "Property management". It cost money to have someone "manage" your rental money. In my experience the cost was 10% of the month"s rent for collection, and handling complaints from the tenants. In addition they are resonsible to get various trade ppl to do repairs. And then charge back the costs. Hmmm, another way to tack on.I never engaged such a company bc I didn't want to give up so much money.

So, back to your question...how many ppl do you think would do it and why? In the DR rent collections are performed by the owner's lawyer. (What they get for the service I have NO idea). So perhaps in the DR there is no need for a property manager?
 
  • Like
Reactions: drstock

windeguy

Platinum
Jul 10, 2004
42,578
6,186
113
So nobody here has or had a property in the DR and rented it out through a real estate companie? That's strange...


I know such property management companies exist, just never heard of anyone using them outside of the dedicated ones set up for places like Casa Linda.
 

drstock

Silver
Oct 29, 2010
4,563
2,153
113
Cabarete
I don't know where the OP is, but in the Cabarete area there are several rental management agencies. They are mostly small companies or individuals. When I first bought rental properties here there was a lady who had managed it for the previous owners who were absentees. When I got to learn about the business and the area, I took over the management myself, and saved a lot of money. Most of what johne says above is similar to my experience.
 

Pikobello

Active member
Nov 12, 2020
247
237
43
Santo Domingo
Thanks for your opinions guys. Good, let's go into some details. We own 2 small buildings in SD and we do all work (Maintanence, pick up the renters) by ourself.
So we know this work for the last 15 years very well. But we are all getting older and one day we won't do all this work anymore. Allso we're thinking to spend half the time in Europe in the near future, so we're looking for options for possible changes in our buisnessform, and invest in some tourist property is one of our thoughts.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
12,134
8,489
113
Thanks for your opinions guys. Good, let's go into some details. We own 2 small buildings in SD and we do all work (Maintanence, pick up the renters) by ourself.
So we know this work for the last 15 years very well. But we are all getting older and one day we won't do all this work anymore. Allso we're thinking to spend half the time in Europe in the near future, so we're looking for options for possible changes in our buisnessform, and invest in some tourist property is one of our thoughts.
Where are they?
 

El Hijo de Manolo

It's outrageous, egregious, preposterous!
Dec 10, 2021
4,114
2,697
113
Dominican Republic
Ah the Autopista San Isidro. The Mecca of SDE. Home to the Vegas Strip of cabañas, 24 hour hot dog king, base area and the famous planta de gas that blew like the Hindenburg at 1am back in 2008.
 
  • Haha
Reactions: NY-DR Commuter