All Forum Posts by: Terron Winn

Hello all,

I will be purchasing my first property in the Dominican Republic, specifically in Santiago. (Jardin Botanico).  This is a brand new 3 bed 2 bath property and its about 20 minutes from the Ciabo airport. 

I have been going back and fourth from Santiago to California for about 10 years now at about twice a year. Every time I have gone, my wife and I have rented an air bnb and this is the reason why I am purchasing my first home there.  I am a little scared but as they say " you never know until you try". 

I have purchased it at 5,500,000 peso which translates to about 100k. in about two weeks I will be flying out to get the keys and furnish the place. 

Does any one have any tips/tricks with getting the place rented with air bnb and or vrbo? Is there another platform that I can use to advertise my rental property? I just want to make sure I get it exposed as much as possible, especially with the feds raising the rates! I will be financing this property with a HELOC I took out from my primary residence.

This is an old post but im going to reply.

I too have been looking in the Santiago area for an air bnb home. Either near licey al medio or the center of Santiago.  have you moved forward with your plans? 

@Jameson Drew I was thinking it would be to safer for me to go through a title company to acquire a property. especially for it being my first time. Once I get acclimated on the whole buying process and I know what to look for then maybe I will go the quitclaim way.

As far as the home I have mentioned above in the earlier post, I have decided today to not move forward with the purchase. I have called parties outside of the deal and they say its not in a very good area. I had a gut feeling that this was too good to be true and I am peace with my decision.

As of now, I am all over the place in trying to get a solid team to help me navigate through all the wooden nickels and find a solid deal. I'm not to worried about appreciation, as long I can create a cash flow that I can depend on later in life.

@Patrick B. I have tried redfin but its not in that zip code yet, however, I have used trulia and zillow to help locate that info. Though, they are not accurate. 

Long story short, I will not continue with this "deal" as I am getting conflicting answers from other parties in regards to the property mentioned above. 

@Andrew Kougl I too use Trulia's heat map for crime. Another good one is Homefacts.com to check out crime but I have not came across anything for vacancy. I guess check with a PM? 

It seems like a great deal but again this may be too good to be true. I have a meeting with a realtor from there to try and find out the true value of the property. I have contacted multiple property managers and they say its a solid home. I have contacted a construction team and it came back as a solid home with only few issue that needs to be corrected. Its like I know theirs something but I just need to find it. 

I have never done anything out of state but I hear Indianapolis is a great place. I would love to invest in California but its too pricey for me at the moment. 

Lets connect and see what we can do. 

Hello all, Has anyone had any luck with buy and holds in Muncie? zip code 47302. I have came across a home with an ROI of 27 percent. However I am skeptic of the area.. purchase price is 13K and rents in that area are 525. according to the seller everything is just about ready to be rented. I had a separate construction agency go out and he quoted me 4K to fix the minor stuff he seen. the seller suggested we can do quick claim deed but we can also got the route of a title company. It seems as this may be too good to be true but again this is my first buy and hold so I may be paranoid. Any input please! Am I looking over anything besides sending out a home inspector.

Hello all, 

I am in the market to look for a Rental in the INDY area, My price point of a property is 30-60K however, i came across a whole-seller on craigslist thats selling a property for 10K with "minor" things that need to be fixed before it becomes rental ready. I was skeptical on what needed to be done, so I have found a contractor to give me an estimate of what needs to be done. The contractor comes back and give me an estimate of 6-8k and he laid out all the problematic things that hes came across but states that the home is in a good area. I google the address and "walk" around the neighborhood and I do not see anything to alarming except the fact there are some boarded up homes. (google maps pictures are about 3-4 years old).  I then forwarded the estimate to the wholesaler and he says that the contractor is marking up his services by a lot and the wholesaler can fix those problems for 1600.00 and that it will take him a couple days to work on the property. 

My question to him was why don't you keep the property as a rental instead of flipping this home? His reasoning was that he has 12 other properties and he doesn't have the time. 

from what I gathered, this home would rent for 475-550 in the area. I would be getting about 27% ROI which is a fantastic deal but something seems a little off to me.

Any suggestions??

Thanks @Neil Goradia. I am now in talks with @Com M. So far he has shared great knowledge with me. 

@Com M. I have been added to about two different list so far. The capitol I feel comfortable with investing right now is about 30-50K since I am a new investor. Do you have some wholesalers that you are able to forward me so that way I can be added?