The real truth about rentals in Sosua

[hookset]

Hi All,

my wife and i are looking to buy a 3bed 2 bath condo in Sosua and we would like to rent it out when we are not in the country. Can you please share actual facts about the renting situation in Sosua ? the realtor selling it is telling us demand is very high, etc. but he makes comission if he sells it. im looking for unbiased opinions. We are from the dominican and have alot of family there. We hope to retire there some day, so the condo would serve that purpose as well. thanks. Vic.

 

[Northern Coast Diver]

Different Sosua properties have varying levels of popularity. It depends a lot on which complex you purchase in. A bit more info on where, might draw informed responses.

 

[hookset]

The location is extremely close to Residencial Hispaniola.

 

[Tamborista]

Are you going to rent it AirBnB style or seek a longer term tenant?
Be aware of who you are renting to is all I can say.
If you rent it on AirBnB you might see your house on RedTube!

 

[hookset]

we would prefer long term rental if possible. the place is beautiful, condo has access to 2 pools, gym, massage, etc. so its definitely appealing. Airbnb would be possible but with filters.

 

[Seamonkey]

Sounds like you're talking about Don Quixote condos. You won't get top dollar in that location. It's a 15 minute walk down the hill and walking back up is a killer in this heat. Most renters won't have a vehicle and want to live right in town within a 5 minute walk to everything. The location is very quiet and safe. I'm not sure about the water situation or backup power. It's only about 5 years old.

 

[El Hijo de Manolo]

I can only see losing money in Sosua right now. Maybe revisit in 2 years.

 

[josh2203]

Airbnb would be possible but with filters.

We've only used Airbnb to rent, not as landlords, but as far as I understand, you can see your potential tenants history (if they hve one) and make decisions based on that...

 

[jd426]

I can only see losing money in Sosua right now. Maybe revisit in 2 years.

I agree, Prices are way too high .. wait for a Market Correction.
Couple years ago was real good for investing in Condos .. there were small Condos for like $20K -40

now they are what like $200K ?

Im curious how much this condo on the Hill is ... must be in the $100K range I am guessing .
Not bad ,but not close enough to get much Airbnb out of it .. probably no more than $40 a night .
( these are all just Guesses, I am not in the Real Estate Business)

 

[hookset]

Its also possible that some people will be biased the other way because they don`t want any more competition if they are renting as well. just food for thought. Not saying anyone here is doing that, just in general.

 

[ctrob]

Realistically your looking about getting 40% occupancy. Maybe slightly better with a very good property manager. You should be able to cover your HOA and a bit more. But everything depends on location to the water and condition.

 

[windeguy]

Its also possible that some people will be biased the other way because they don`t want any more competition if they are renting as well. just food for thought. Not saying anyone here is doing that, just in general.

There is already a great deal of competition since everyone and their cousin is on Airbnb.

 

[keepcoming]

We know someone who looked at the Don Quixote condos. The price was around $185k w/o furniture, 2 bedroom with extra room (?). They felt the finishes were not that great for the price of the condo. They were told 24/7 electricity. The location for them was too isolated.

 

[RDKNIGHT]

Sounds like you're talking about Don Quixote condos. You won't get top dollar in that location. It's a 15 minute walk down the hill and walking back up is a killer in this heat. Most renters won't have a vehicle and want to live right in town within a 5 minute walk to everything. The location is very quiet and safe. I'm not sure about the water situation or backup power. It's only about 5 years old.

I do not concur... who would want to live in the middle of sosua with all the hookers and loudness

 

[Seamonkey]

I do not concur... who would want to live in the middle of sosua with all the hookers and loudness

90% of all the single renters.

 

[Big]

I do not concur... who would want to live in the middle of sosua with all the hookers and loudness

Well, the gents who are visiting for "action" don't want to be too far away from the center of town. They are also a loyal lot. They just need a chica friendly room for a long weekend. They need a safe in the room as well.

 

[jd426]

Well, the gents who are visiting for "action" don't want to be too far away from the center of town. They are also a loyal lot. They just need a chica friendly room for a long weekend. They need a safe in the room as well.

Some don't even want to be more than 100 Yards from Rosen and Pedro C ... or Rosen and Dr Martinez .. pick an intersection. or " Corner" .
them dudes will fight for their Corners like Avon Barksdale & Stringer Bell .

 

[RDKNIGHT]

I guess that time has past me by in my life... I dont want to walk outside and see condoms laying in the street .. any way to each his own enjoy

 

[Seamonkey]

I guess that time has past me by in my life... I dont want to walk outside and see condoms laying in the street .. any way to each his own enjoy

I agree. I live in the hills...away from the noise, but all my clients want intown.

 

[RDKNIGHT]

I agree. I live in the hills...away from the noise, but all my clients want intown.

peace and quiet wins for me these days