global $user_info; { echo '
Sosua girls
'; }

Author Topic: Investing in Sosua Real Estate  (Read 20698 times)

mta2

  • Sr. Member
  • ****
  • Posts: 63
Investing in Sosua Real Estate
« on: April 05, 2016, 03:55:21 PM »
Does anyone have any tips on investing in real estate in Sosua? I would like to own a villa or a house that I can rent out to people for profit. The only problem is I'll be overseas so I would need someone reliable to take care of the property. I can setup an online payment system so I get the money direct from renters.

I looked into purchasing Villa Ultima at Casa Linda but their maintenance fees are stupid high which kills the profit. I spoke to some realtors and I feel like they are price gouging.

Anyone that can offer some advice I would appreciate it.

Thanks
- Ali

seanSLO

  • Hero Member
  • *****
  • Posts: 2373
Re: Investing in Sosua Real Estate
« Reply #1 on: April 05, 2016, 04:05:04 PM »
I am looking at renting condo from American on airbnb. You can email them direct on there. Maybe send one of them a note ask for any info can provide or PM 007 he lives down there 24/7 and in the real estate game

mta2

  • Sr. Member
  • ****
  • Posts: 63
Re: Investing in Sosua Real Estate
« Reply #2 on: April 06, 2016, 10:15:50 AM »
007 is in real estate? I didn't know that...perfect! Thanks.
- Ali

SuaveCity

  • Newbie
  • *
  • Posts: 6
Re: Investing in Sosua Real Estate
« Reply #3 on: June 05, 2016, 11:49:07 AM »
Im interested in any good info on the subject as well.

nycstompers

  • Sr. Member
  • ****
  • Posts: 54
Re: Investing in Sosua Real Estate
« Reply #4 on: June 05, 2016, 05:00:39 PM »
I bought a Villa in Casalinda is Sosua....they will manage your property for you with no worries on your end. They also guarantee 10% of your rental money the 1st 2 years so that's easy money depending on what size and how you spend. Google them...casalindacity.com

mta2

  • Sr. Member
  • ****
  • Posts: 63
Re: Investing in Sosua Real Estate
« Reply #5 on: June 06, 2016, 08:31:05 AM »
@nycstompers how long have you owned the villa for? How was the process? Do you think its worth the investment with all the high maintenance fees?
- Ali

Donsosua

  • Newbie
  • *
  • Posts: 2
Re: Investing in Sosua Real Estate
« Reply #6 on: July 13, 2016, 03:34:30 PM »
Good afternoon to all!!!

Is this post still active?? If so to the fellow who posted this
I have some information that maybe of good use to you.
Thanks.

tonystark

  • Jr. Member
  • **
  • Posts: 13
Re: Investing in Sosua Real Estate
« Reply #7 on: July 13, 2016, 04:36:06 PM »
If i where to purchase a villa in casa linda, do I need to borrow from a bank or just pay casa linda a down payment.

mta2

  • Sr. Member
  • ****
  • Posts: 63
Re: Investing in Sosua Real Estate
« Reply #8 on: July 14, 2016, 07:24:14 AM »
Good afternoon to all!!!

Is this post still active?? If so to the fellow who posted this
I have some information that maybe of good use to you.
Thanks.

yes still active. Please send me a PM. Thanks
- Ali

bachatero

  • Devoted Contributer
  • Hero Member
  • *
  • Posts: 2759
Re: Investing in Sosua Real Estate
« Reply #9 on: July 14, 2016, 08:59:26 AM »
With the shutdown occurring, in the near future it might be a good time to buy real estate there.  I would wait a few months though and if the Sosua economy goes in the shitter, you will be able to get good bargains on villas.
Live free or die!

mta2

  • Sr. Member
  • ****
  • Posts: 63
Re: Investing in Sosua Real Estate
« Reply #10 on: July 14, 2016, 11:36:34 AM »
In a bad economy, cash is king! I'm waiting for these prices to drop.
- Ali

WangTheGod

  • Devoted Contributer
  • Hero Member
  • *
  • Posts: 717
Re: Investing in Sosua Real Estate
« Reply #11 on: July 14, 2016, 11:54:48 AM »
"Tapping my foot" waiting  for the drop.. Right now is too soon.. We need to really gage this situation in the high season October-March If this continues through next year this time "which I doubt" PULL DOWN ALL INVESTMENTS, FREE UP ALL CASH AND ASSETS AND BUYYYYYYYYYY

Don Pablo

  • Guest
Re: Investing in Sosua Real Estate
« Reply #12 on: July 14, 2016, 12:36:27 PM »
Financing...

Some vendors will take back a mortgage for a short term with about a 50% deposit. You could do something with a bank there likely 35% deposit. Doubt either of those routes would be that easy.

Recommended by people in other jurisdictions is borrow at home. A home equity or second mortgage loan. Easier to come by, lower rates, maybe even tax deductible! ( no idea really, but there might be a way for some folks).

For me, I have been looking around the region. I do like the North Coast of DR but need a bit more stability and upside.

Next trip I will try and venture towards La Romana, Punta Cana.


mta2

  • Sr. Member
  • ****
  • Posts: 63
Re: Investing in Sosua Real Estate
« Reply #13 on: July 14, 2016, 12:47:04 PM »
Back in April, my chica friend had setup an appointment with a realty company in Sosua. I spoke to the guy and he was very nice and explained to me the whole process. He told me that there is possibility of getting financing for properties but usually Dominicans don't do it but because they don't understand interest rates and how balances are compounded. So not many people go that route. You can take a loan in the US and wire the money to DR I assume.

As far as the prices, he showed me a 3 unit apartment building away from the strip and it was brand new but they wanted $195k. The rent roll is not enough to make good cash flow. I can buy a 3 family in the hood Newark, NJ for the same price and get a rental income of around $3k minimum!

The prices are definitely inflated there. So its just a waiting game now for the prices to come down.
- Ali

nycstompers

  • Sr. Member
  • ****
  • Posts: 54
Re: Investing in Sosua Real Estate
« Reply #14 on: August 14, 2016, 03:31:46 PM »
@MTA2

I decided to buy my Villa last May 2016....it's relatively a smooth purchase. A lot of guys here will have a different experience. I look at it like this.......the prices in Sosua are pretty much average as far as buying. Your paying for location. Sosua has 1 of the best beaches in the country.

High maintenance fees are only applicatible if you are renting. After you are out of the rental program...you can find you locales to clean your crib. Hey don't tell you that....but it's an option for much less. Always ask what you really want to know. Also if you are thinking of retiring there consider a residency there. You will be exempt from import Taxes if you ship anything to the DR and you would be protected within the country as far as Laws. I plan on retiring 2020 and living in the DR so I did all the legwork and found it to be worth it. Let me know if you have any other questions.

 







MORE REASONS TO SUBSCRIBE

Click below to subscribe!

Sosua bars
'; }
SimplePortal 2.3.7 © 2008-2024, SimplePortal