All Forum Posts by: Junior Jaquet Hernandez

Quote from @Patricia Andriolo-Bull:

I have owned a condo in Punta Cana since 2016.  The first year it was fine (mostly because of the contract we signed) but has been a headache since.  Apparently they can just break contracts without recourse if builders / owners are well connected and I even engaged a lawyer.  That said, I now have it on airbnb and break even.  Do your research on the location very well.  I do like el corticito as there are many restaurants and groceries in walking distance so perhaps that can work.  Also, there are many snow birds that go down that stay for months which would not go to all inclusive.  That said, my experience has not been great.

Cortecito is the best place for short-term rentals cause everything is close but downtown is getting developed and other areas too.  

But talking about your agreement with the builder couldn't understand very well  
  

Quote from @Mike Lambert:

@Andres Bernal

Let us know how you're doing. The Dominican Republic can be a great place to invest but, personally, Punta Cana would be the last place I'd invest in.

Two years ago, during a meeting I had at the Ministry of Tourism in Santo Domingo, one of the head honchos there clearly told me "If I were you, I wouldn't invest in Punta Cana". Now, he's responsible to bring tourism and investment into the country so why would he say that? Punta Cana accounts for 66% of the country's tourism. This is very unhealthy so the government is now investing elsewhere now and Punta Cana is pretty much done anyway, as the path of progress pretty much has run its course there.

That's not my main problem with Punta Cana though. Punta Cana is first and foremost an all-inclusive destination and there's no way an Airbnb can compete against those. There is nothing much to do in there apart from the beach and partying and therefore there's no drawbacks to be in an all-inclusive and no advantages to be in an Airbnb. Many people go there in (large) groups, which most short-term rentals can't accommodate. Finally, most people I've met in the country (and elsewhere) who love to stay in short-term rentals and dislike all-inclusive generally dislike Punta Cana.

Of course, it's another story if you buy (partly) for lifestyle purposes, as you might just be happy enjoying your property and covering your costs.

Hi, do you have any property in Punta Cana? 

I have a couple of units and is working very great by the way we are building 30 units of suits apartments for Airbnb ( not for sale ) 

But if you are worried because of the all-inclusive resorts remember not all people travel to a new country to be 24/7 inside a resort there are many things to do in DR starting with knowing the culture, history, and of course the gastronomy and you will never find out that inside a resort. 

I am a real estate agent and a local investor as I said and investing in tourism sector in DR has different benefits:

1- tax benefit ( no paying tax for 15 years )

2- ROI +8%

3- Great Appreciation (natural and forced)

4- financing 0% 

by the way, some residences are working with international tour operators and resort administrations like Windham who guarantee +60% occupancy over the year on your property. ( this is for long-distance investors )

If you or anyone on this topic has any questions about it pls answer or DM me 

Quote from @Alex Puente:

Quote from @Luis Ciriaco:

Following this… I own in Puerto Plata (north coast of Dominican Republic) and it’s great thus far. Been in the market 18 months at this point. Starting ‘23 strong, already booked solid through March. https://www.airbnb.com/h/casac...

 Hello Luis, I have a property near Puerto Plata and am looking to continue to grow my portfolio in that area. How does financing work in the DR? Do you have any recommendations on lenders or someone investing in real estate in the area?

 If you need help with financing I will be happy to share the list of lenders and banks we’ve worked with before 

Quote from @Stephanie Chapman:

How is your Dominican Republic investment? I’m interested for 2024.

 Hi, I am a local real estate agent and investor in the Dominican Republic 🇩🇴.

What's your question about?

@Eudith Vacio. 

Answering your question:

Believe it or not, the best way to have financial freedom is with multifamily, I invest in multifamily like 10-35 units per building cause that apartment studio provides me an income of 400-600 dollars each depending on the location.

I purchased a land with almost 1,000 square meter and my partner and me, we are building 34 units for long term rental 30 apartments with 1-2 bedroom 1 bath and 4 commercial store (small) 

I like Punta Cana due to the great development and job opportunities, at the resorts we have around 70 resort complexes, and in each complex, there are 1-4 hotels with 700 rooms each that's for you to have an idea about employment. 

I do airbnb and it is a great market in Punta Cana for tourists.

As I told you depending on your location there are market for each of your goals. 

As Brandon Turner says in the bigger pocket YouTube channel the long-distance investment is not as hard as you think the question is how to invest in real estate long distance when you live overseas.

Let's make it simple. How to invest in real estate for example when you live overseas, or if you are in the military, if you work in a tourism area and you travel a lot.

How can you do it? How can you afford it? those are the common questions that people in this situation have on their minds so the process has to be the following:

1- Get some education about real estate investment

2- What type of properties would you like to invest

3- The type of strategy that you will use

4- The location, considering is one of the most important parts of this process cause it will define your success

5- Condition on the property, new development projects, and ready properties have their pros and cons but with a great strategy, we can make it happen.

6- Price Range to afford it

Once you have all of these questions answered, now you know the market if not find some real estate agent who can help you, but try to find a good one, one who understands the numbers and investment mindset. That doesn't matter if you are in China or the India and you want to invest in the Dominican Republic. You have to search where are the people moving? and where is the market going? and where is the best development location?

You have to understand the different location and markets, each property has a number, each property has a profit and each property has an equity you must find the best way to make it happens. Find your Real Estate Agent and once you find it he can share some contacts like property managers,  lenders, banks, contractors, and others in that way you will be building a team working for you.

So, now we have to search for a property, pursue and make offers, you don't have to worry about being rejected I am an investor in the Dominican Republic and I also invest in the United Estates I've been rejected many times but you must find the best deal and one day you will be accepted. that's the way you can invest long distance you must be quick due to the hot market competition. Talk with the lenders, and with the banks and get pre-approved normally they approve 80% and you must have for the downpayment 20% if you don't have the money go and find a partner or any other way to finance your property but don't be with cross hands cause that property will not go to your hands, your hands have to go to the property.

And that's how we do it.

“IF YOU REALLY WANT TO DO SOMETHING YOU’LL FIND A WAY. IF YOU DON’T, YOU’LL FIND AN EXCUSE.” – JIM ROHN

Quote from @Kevin Malloy:

Hello everyone. I have a question about buying property in the Caribbean. Specifically, I am looking to rent out/lease/Airbnb the property until I can retire and live there full time. I Does anyone have experience with owning investment property in the Caribbean? I was looking to expand my portfolio to Belize due to their low taxes. I was wondering if anyone has any advice or lessons learned from investing in the Caribbean. Thanks in advance!!

Kevin

Hi Kevin 

Yes, one of the best paradisiac places to invest in Punta Cana in the Dominican Republic if you have any questions pls feel free to ask me.

by the way, I am a real estate investor and also a real estate agent

Quote from @Michael Baum:

Wish I had an answer for your @Derek Davis. The easy thing to look at first is which countries allow investment purchases for real estate without actually living there. There are restrictions in some countries. That will narrow it down.

Essentially you just look at where people go the most. What is the crime rate? Bermuda looks good on paper, but the crime rate is outta sight.

 Dominican Republic allows you to purchase properties without living there, no restriction for international investors and also taxes are very low comparing others countries and by the way you can get it rent it fast.

Quote from @Damian Ramirez:

Hello folks,

My business partner and I are flying out to Cleveland today and arriving tomorrow, because of that, we are looking to connect and possibly meet up with other investors in the Cleveland area to simply network or discuss one another's ventures. Perhaps that can lead to something larger or start the beginning of a relationship. 

If you'd like to set something up or just simply would like to reach out to chat, feel free to message me and I will get back to you. 

Thanks,

Damian

 Hey we can talk about that I have properties in Cleveland 

Quote from @Joel F.:

@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.

 Where are you building those properties?