Simple, because to live in a good area in a nice BIG place in the capital, rent could be easy 1500+usd. If you plan to stay for longterm with no plan to leave, and you could buy it for less than 200k without need for a mortgage.
- Thread starter Fritzler
- Start date
Will Dominican real estate crash soon? Buy Now or wait?
What a very uninformed claim. I made more money last month in the DR than all the money I've ever spent or ever will spend on trips to the DR. DR real estate is a gold mine if you take the time to do your homework.
I'm not trying to unload anything. I was down there last week for a closing on a sale. It was my 14th closing in the past 12 years. And I do this VERY part time. I made a lot of money on most of them. On the rest, I made even more. I guess it's a good thing for me that more people listen to you than me. Less competition for those little nuggets of gold. I'm guessing you wouldn't recognize a good deal in real estate if it walked up and kick you in the nutz.
His degree of being "uniformed" depends on what his needs and interests are.
If he's an investor and/or speculator, then yes, there are wonderful opportunities to be had.
If, on the other hand, he's a retiree or a part-time / some-time resident, with more interest in a spectacular view than about gaining a deep understanding of the market, then renting would be the way to go.
Depends on your end game. My wife and I have bought both solars and houses in the centre area of
Jarabacoa. When we bought it was under a thousand pesos per square meter. Now you cant buy for less than 2500 per sq meter. We have more than doubled our buy price when we sold several properties. The others we have as rental properties and our solars are like money in the bank. We have people wanting to buy them all the time.
Jarabacoa. When we bought it was under a thousand pesos per square meter. Now you cant buy for less than 2500 per sq meter. We have more than doubled our buy price when we sold several properties. The others we have as rental properties and our solars are like money in the bank. We have people wanting to buy them all the time.
If a person is patient and does his homework, you actually can bat 1000. I'm not the only one, I personally know a few other guys who have done quite well down there. Sorry if I offended you but it really bugs me when folks get on here and trash the real estate market on the North Coast when, in fact, there are endless opportunities.