All Forum Posts by: Joel F.

We are building apartments for short and long term rentals and for condos for resell in Dominican Republic. With inflation and unstable supply and demand makes it hard to keep stable. Has anyone built apartments for rentals purposes and how they are coping with inflation. Long term rentals is not working and the turnaround for airbnb is costly we are now charging tenants for electricity they consume. But the resell market remains positive. But we like the cashflow. Locations we operate- SANTO DOMINGO, BONAO, and PUNTA CANA.

Any recommendations on great property management company that is willing to work on distressed neighborhoods in Jackson Ms. Been searching for a few that also have great contractor experience. We looking to expand in the Jackson Ms market.

@Junior Jaquet Hernandez Bonao, Punta Cana, las terrenas, y Puerto Plata! Sorry for the late response! Been busy working.

SEEKING A NEW PROPERTY MANAGEMENT COMPANY IN JACKSON MISSISSIPPI! Any recommendations will be gladly appreciated!

@Junior Jaquet Hernandez Dominican Republic wholesale is not worth it. There’s a deficit of housing in Jamaica, Dominican Republic, africa, these are the countries we focus on now. There’s not a lot of people selling homes in wholesale to flip, financing is not easy, if you want to develop homes and apartments good place to invest.

@Bud Gaffney great margins in Dominican Republic! I am currently building 200 apartments. Cash Flow is excellent above 8% cap rate!

@Samantha N.samana is good to invest I do not know if you will build or buy but if you build like how I am doing then you need to be carful with the steep lands they have on the mountains, before you build or buy make sure the title is clean do not buy the acta de venta unless you know the families that is selling the land, samana is very attractive tourist area does not have the boom like punta cana but is attractive and your investment will go a long way.

Bavaro Punta Cana  is good  for short term rentals, but you must get apartments and villas near the beach to attract more clientele. We develop many condos and homes and they sold out because investors are buying for short term rentals. You can finance with our company or through a bank. all our realtors we work with speak multiple languages and can help you with the process legally. 

@Frances Magriz best you go to a local bank in the Dominican Republic to purchase property. If you seeking international lenders they will ask you for assets in your current location to back up your loan. A local bank in RD will ask for 80% LTV new property or 70% LTV on used property. Interest rate on dollars is 6% and higher interest rate in pesos starts at 9% with Government and 12% with banks. The reason pesos interest is higher is because of the currency going up and down.

Banks

Banco Popular

Banco BHDLEON

Scotiabank

Banco Reserva

To name a few all these banks I mentioned are strict when it comes to financing.

If you have a new construction or need a builder let me know I am developing in the island. I can help you get good lawyers that will present your loans.

The banks is over crowded in some areas getting lawyer is best help for you.

@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.