New build Galeras, Samana, DR

[Elizabeth Conklin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $260,000

New build-STR facing the beautiful Samana bay in the Dominican Republic. Coming online April 2023.

What made you interested in investing in this type of deal?

This property allows me to spend time in my favorite place (beach, Dominican Republic) while cash flowing with visiting tourists to our STR.

How did you find this deal and how did you negotiate it?

We found a great plot of land overlooking the beach and partnered to purchase and build 2 houses.

How did you finance this deal?

Leveraged HELOC on our primary residence (which is also a STR)

How did you add value to the deal?

Land was undervalued -will appreciate 100k above investment due to location and growth of tourism in the area.

What was the outcome?

Will open for rentals in April.

Lessons learned? Challenges?

Importance of having a solid lawyer for investments overseas
Construction materials fluctuate-important to build in cushion

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes-DM for detalls if interested