Yes, and the guys with $5000 are the ones who get ripped off by the guys who "sell it, take it back and repeat." Third World Real Estate.Originally Posted by Jimmydr
Senior Member
Yes, and the guys with $5000 are the ones who get ripped off by the guys who "sell it, take it back and repeat." Third World Real Estate.
Senor Tranquilo's
From what I have understood from our conversations in the past; he has a lease I forget how long but for a good period of time. He does not own the property. On the plus side like the add says besides where Fred lives himself, you also have the two bedrooms in the other area, that he used for a time when the girls were giving massages, which means you could have rental income if one was so inclined. His landlord seems to be a decent enough guy, but who knows when and if the landlord sells, who will be the next landlord, and how ironclad the lease agreement actually is?? After all it is the D.R., and from what I can tell often times in the D.R., deals are made, to be broken.
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Senor Tranquilo's
You are right about that, they are called hypocrites, and there are plenty to be found in the D.R., as CD says they look down their noses are us for what we do, yet they do the exact same thing, they only keep it private, and pretend that they don't because that type of behavior is beneath them.
Senor Tranquilo's
Actually looking at it, it has potential, especially with the new improvements, the Tiki bar & pool area, If one was so inclined they could throw many private parties back there with chicas doing all sort of things, reason I want the party there. Or a mini version of Passions.
The problem with a business like that in Sosua, you really don't need a private place like that to get what you want from the chicas, you can literally walk down the street and find some nice young thing that would gladly rock your world at a very reasonable price. A place like that would be better in a place like Santo Domingo, Santiago or even Puerto Plata where finding available young ladies to do all sorts of things aren't as plentiful. Well they are as plentiful, maybe even more so, you just got to know where to go to find them.
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From what I have understood from our conversations in the past; he has a lease I forget how long but for a good period of time. He does not own the property. On the plus side like the add says besides where Fred lives himself, you also have the two bedrooms in the other area, that he used for a time when the girls were giving massages, which means you could have rental income if one was so inclined. His landlord seems to be a decent enough guy, but who knows when and if the landlord sells, who will be the next landlord, and how ironclad the lease agreement actually is?? After all it is the D.R., and from what I can tell often times in the D.R., deals are made, to be broken.
Then I would pass. I would need a 10 year lease with an option to buy.
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I would too. Guys that can`t make it back home won`t make it anywhere else.
Senor Tranquilo's
True on both counts, but if you are going to take a flyer and take a chance it is better to only lose $5,000 than invest $100,000 and lose that. Maybe the guy with the $5,000 that is all he got and he is going to live his dream for as long as he can, sure it's short sighted, but maybe he says I am going to take my one punch and see if I can get a knockout.
Whereas the other guy with more to invest also probably has more to lose. So when he gets ripped off, he is really fucked and it's harder for him to rebound. The other guy says, well I lost 5 grand, let me get another 5 grand and take another chance.
Senior Member
I wouldn't do it unless I could buy it outright, property and all, and for a fair price, and only if I were ready to retire and actually wanted to retire there - a lot of ifs. The "business" as apparently offered is worth next to nothing. I don't think anyone in his right mind would actually pay $57K simply for the right to lease that place long term and run it as a bar. But maybe someone else who is not in his right mind will come along once again.
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Owning a bar/club, dealing with the chicas, the authorities, the tigres and with us sounds like a lot of work. This is not my idea of retirement!!!!
A while back I predicted that, as the noose tightens around TFG's neck, both he and the Maga Morons here would post ever more idiotic crap. Right again.
“It was a violent insurrection for the purpose of trying to prevent a peaceful transfer of power after a legitimately certified election from one administration to the next," McConnell told reporters. "That’s what it was."
Junior Member
Owning a bar/club is not retirement at all. 18 hour work days 7 days a week. The mistake most people make is thinking that they will get someone to run the business for them. They get robbed blind and cant understand why they are not turning a profit. After realizing that the bar business is hands on and you must be there at all times they either just give up or try to sell.
Restored to Green, 03/05/2010
oh i know, that was it was just my NY sarcasm .
although at that price it would make a nice club house.
Active I.S.O.C. Member
As stated this is not retirement as many people think of it. In fact most people who run a successful business and MAKE money need to work harder than they do in the states. I think we are lucky in the states with the amount of income we can potentially earn with the amount of hours we need to put into it.
There are loads of extra headaches you would never have to deal with in the states and the margins are typically so small for everything that as an owner you need to be in control and present full time or your business will likely fail.
That being said you can easily look around Sosua and speak to people and after a few weeks realize this is all true.
How many places in Sosua are actually profitable and been around more than a few years? Not many.
Buying a good business in Sosua still doesnt mean it will remain profitable. Look at Anna Miriam in POP. Frank had a great business going until the building owners decided they wanted to make all the money. They ruined a good business in probably less than 6 months.
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Monger
I tend to think that anyone that wants to "live the dream" yet decides they have to essentially buy themselves a job is likely getting in over his head from the start. Sure you need something to stay busy but if you can't afford to lose what you're investing lookout. In one of the Apos threads somebody posted that he would have gotten different advice from friends on this board compared to that other board, that got me thinking about my own experience from a few years ago. I was considering a move to Costa Rica and looked into business opportunities there. Actually one deal was very tempting since I have experience but I decided to take a couple extended trips to investigate the scene.
It did not take me long to see and understand a few things- the younger (under 50) guys that have to get up and hustle everyday to make a few bucks did not seem all that happy. The guys really enjoying themselves were those that did not have to worry about making a living. They had income from the states, worked for an international company or had already earned all they needed and were retired. Also that you couldn't really trust anyone- locals, gringos, attorneys, everyone is out for a piece of you.
There's a lot of trade-offs for living the dream, just dealing with simple everyday tasks could drive you crazy but buying into something with money you can't afford to lose would be the worst. I see a lot more failures than success stories.
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People should know their place. I know that I can`t run my own firm so I don`t even try. I am an employee in the accounting world.
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Its simple, the contract states if they miss a few payments, they loose. You can tell if the guy with $5,000 will loose. Its a min vacation.
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It CAN work. But usually only for a buy who has run similar businesses back in his home country , made them successful, Sold them and is now SEMI RETIRED. If he ran 3 or 4 Restaurants for example back home, running ONE small bar is like a walk in the park .
That’s the definition of semi retirement, in Paradise.
The only hard part perhaps is dealing with the locals and the language, but the business, he’s got under control.
But someone who was never successfully run that exact type of business before, he is a FOOL from day one,and we all know what happens with fools and their money.
Administrator
Exactly. This is the only way to do it.
Senor Tranquilo's
You know actually the overhead that Fred had, really wasn't that much, don't know if it has changed. I think that was one of the reasons until recently when he seriously started thinking about selling, he didn't hustle that much, as Sicpup says it was essentially his club house to entertain his guests/friends. Play his music, sing his Karaoke, and fuck his chicas especially those that worked for him, or wanted to. It really wasn't or isn't a bad life, and for the most part he enjoyed it thoroughly.
Many had told him their ideas on how to improve his business plan, including me, and he really was never interested until about the last 6 or so months maybe the last year now that I think of it.
Senor Tranquilo's
It really depends why you are in it, he just wanted a place that paid for itself, and gave him a little extra spending money. You know he has a pension as well, plus other business interests in the U.S. He didn't get rich doing it, but that wasn't his intention in the first place.
Junior Member
Thats the perfect plan for anyone who dosnt really need to make a living. However, me personally, i would buy the property. If it wasnt for sale i would look for another one.
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