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Author Topic: Real Estate Advice  (Read 1419 times)

goforth315

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Real Estate Advice
« on: December 22, 2021, 08:27:15 PM »
Hello! Anyone have any suggestions on recommended real estate agents or areas to look for a vacation home/rental? I was thinking Plaza Europa due to the price, but not sure? Looking at something easy to rent out and close to the action.

streeteasy

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Re: Real Estate Advice
« Reply #1 on: December 22, 2021, 08:32:35 PM »
Will u always want to vacation in a whore town?  What if u want to invite some friends and family down?  RD has alot more to offer than Sosua and pussy is in abundance EVERYWHERE.

Just something for you to think about.

goforth315

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Re: Real Estate Advice
« Reply #2 on: December 22, 2021, 09:21:45 PM »
You've got a point. Definitely not the only place I may buy which is why I'm open to it especially if it has the potential to rent frequently when I'm not using it. Where would you suggest as a starting off point? For this part of RD, would Cabarete be close enough but far enough away to have something different to look at than mongering?

goforth315

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Re: Real Estate Advice
« Reply #3 on: December 22, 2021, 09:53:38 PM »
Thanks for the connection. Looks like a lot to consider. Any trustworthy real estate agents out there you'd recommend as well?

streeteasy

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Re: Real Estate Advice
« Reply #4 on: December 22, 2021, 10:14:33 PM »
You've got a point. Definitely not the only place I may buy which is why I'm open to it especially if it has the potential to rent frequently when I'm not using it. Where would you suggest as a starting off point? For this part of RD, would Cabarete be close enough but far enough away to have something different to look at than mongering?

Cabrera and Gaspar Hernandez are an hour or so to the east.  It's a few hours away but Las Terrenas and the Samana peninsula was one of the most beautiful places I've ever seen....and there is action there but just not alot due to small population.  From what I've seen traveling around that island you'll always have access to trim if u have money.

JosephInNY49

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Re: Real Estate Advice
« Reply #5 on: December 23, 2021, 01:16:03 PM »
Thanks for the connection. Looks like a lot to consider. Any trustworthy real estate agents out there you'd recommend as well?

R.E. agents in D.R. are not licensed like the states. No tests, no code of ethics, etc. Literally ANYONE can go into the business so buyer beware. As stated above, a good lawyer is key to making sure the deslinde and titulo are in order. Remember, you are not in the states. You will have almost no recourse if a deal goes bad and you lose money. There's lots of r.e. info on DR1.com - including brokers -  so check there.  No matter what you decide, I would encourage renting for at least a month or two in the area where you plan on buying. Paradise gets to wearing thin after a while.

Viva La Vega

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Re: Real Estate Advice
« Reply #6 on: December 23, 2021, 01:58:34 PM »
Do a business plan. Chances are it will talk you out of purchasing an AirBNB type property.

What does a place like Hotel Europa rent for? $35-$40 a night? 2-3 nights a week maybe 30 weeks a year. maybe 5-7 nights for 10 weeks a year, and empty 12 weeks a year. If you are lucky. Look at the number of spots on AirBNB sometime.

You pay the manager, AirBNB, water, light, housekeeping, laundry, strata let alone if you have a mortgage... Opps you need new towels, a cooler, a TV. At the end of the year, there really is not anything left. And it's not as though cheap condos in Sosua are going up in value.

Invest your real estate money at home. Make dollars, spend pesos. Rent a spot that you like to go to. When you don't like it there anymore, go someplace else.


 







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