Lender · Toronto Canada · Member since 2020 · 2 posts · 0 votes
I have been in contact with some brokers and builders, it’s hard to know if they are legit businessess or not. If they are legit the oppourtunity seeems amazing. My local realtor suggests its a scam because the broker is not well known and nothing in their laws can protect me from losing my money (suggesting if it’s too good to be true, it usually is) Any body have experience out there in DR? Or any where else in the Caribbean that can help advise?
Developer · Santo Domingo, Distrito Nacional · Member since 2016 · 121 posts · 53 votes
5y
@Emery Welshman what exactly you trying to buy in RD? The island has many great opportunities especially for foreigners but as you stated you must know the game before you invest your money. I suggest you get in contact with a good lawyer to help you out with the process. Yes, here they have crazy deals some areas you can buy land and owner finance for 5 years but if you don’t know what you doing you will get scam.
Developer · Santo Domingo, Distrito Nacional · Member since 2016 · 121 posts · 53 votes
5y
@Emery Welshman what exactly you trying to buy in RD? The island has many great opportunities especially for foreigners but as you stated you must know the game before you invest your money. I suggest you get in contact with a good lawyer to help you out with the process. Yes, here they have crazy deals some areas you can buy land and owner finance for 5 years but if you don’t know what you doing you will get scam.
Rental Property Investor · Washington, DC · Member since 2019 · 24 posts · 22 votes
5y
Hi, I am interested also! Can I add some questions to your thread, @Emery Welshman?
1. I am wondering if anyone is experienced in analyzing foreign markets and what I can do to figure out if buying DR makes sense compared to other Caribbean destinations and also what town within DR make the most sense.
2. I also am wondering about the rate of appreciation of real estate markets in DR/Caribbean.
3. I was looking at Punta Cana. I have seen a lot of new developments of modern but small houses with little "pools" in the backyard for around $150K or so. Many of these developments offer financing. From what I have read, I need to expect to put 30% down. Does this sound right?
4. Should my strategy be to buy a deal, just like I would in the US by negotiating or are properties priced very competitively already in DR where money can't really be made going in?
5. How easy or hard is it to sell real estate out there if I should want to get out?
Just looking for the advice of any investors who have done this and can offer guidance!!! THANKS in advance :-)
Lender · Toronto Canada · Member since 2020 · 2 posts · 0 votes
5y
@Lauren Pitts I can answer only a few of those from my experience to date. From what ive found Punta Cana is still a high tourist attraction so I have been solely looking in that area. Alot of the well known developers offer financing after a 50 percent deposit (20 percent within 30-60 days and 30 percent within 18 months) After you will get the title to the property and be able to get financing through a DR bank. (This is all through the few experiences ive had btw) Some lesser known developers can operate at different levels and different rates. It really varies in that part of the world. Was there only last week so got to meet and speak to a few people which helped alot. Feel free to direct message for more details.
@Joel F I saw your other post. So I am interested in doing the same type of thing you did. I was looking at 2 stories but 3 could also work. I was looking at the north coast area from Puerto plata to cabarete.
I have the funds to do buy land and build without financing. Is there anything advice you have? I tried to send you a message.
Hi, I am interested also! Can I add some questions to your thread, @Emery Welshman?
1. I am wondering if anyone is experienced in analyzing foreign markets and what I can do to figure out if buying DR makes sense compared to other Caribbean destinations and also what town within DR make the most sense.
2. I also am wondering about the rate of appreciation of real estate markets in DR/Caribbean.
3. I was looking at Punta Cana. I have seen a lot of new developments of modern but small houses with little "pools" in the backyard for around $150K or so. Many of these developments offer financing. From what I have read, I need to expect to put 30% down. Does this sound right?
4. Should my strategy be to buy a deal, just like I would in the US by negotiating or are properties priced very competitively already in DR where money can't really be made going in?
5. How easy or hard is it to sell real estate out there if I should want to get out?
Just looking for the advice of any investors who have done this and can offer guidance!!! THANKS in advance :-)
Hi BP family if you are looking to invest in the Dominican Republic you can make it I live in DR and I invest in PUNTA CANA the best place in the Caribbean.
if you need contacts let me know I have multiple rental properties that are good for Airbnb or regular rent.