Page 1 of 2 12 LastLast
Results 1 to 20 of 37

Thread: Real Estate is HOT

  1. #1
    Join Date
    Apr 2005
    Location
    Sosua
    Posts
    173
    Thanks
    59
    Thanked 72 Times in 30 Posts

    Real Estate is HOT

    I have been buying for 2 years and seen doubles and triples guys. Check it out.

    Escott

  2. # ADS
    Our Supporters Support our advertisers!
    Join Date
    Always
    Location
    Advertising world
    Posts
    Many
     
  3. #2
    Join Date
    Mar 2005
    Location
    Brooklyn, New York
    Age
    65
    Posts
    2,707
    Thanks
    75
    Thanked 249 Times in 147 Posts
    Those are some serious interest rates.

  4. #3
    Join Date
    Apr 2005
    Location
    Sosua
    Posts
    173
    Thanks
    59
    Thanked 72 Times in 30 Posts
    You also have to remember that prices were going down for 8 years before that. Not all peaches and cream.

    I bought one lot for 15k and remember the broker telling me "But they paid 36k for it" and me saying "So?". Now the 15k lot is worth 50k or maybe even more. A lot two lots down the road turned down 70k and I know this for a fact because I gave the offer for the purchaser.

    I anticipate the upswing to last for several more years because in the DR the prices are still WAY under the rest of the Caribbean. This is a far nicer Island than ALL THE OTHERs with a possible exception of Cuba which is out of the question at this time.

    Besides that the people always have a smile on their faces, the gals are hot and life is still relatively inexpensive compared to everywhere else.

    Escott

  5. #4
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    I am considering buying a villa there, what is the going interest rate?

  6. #5
    Join Date
    Apr 2004
    Age
    52
    Posts
    10,468
    Thanks
    14,099
    Thanked 19,385 Times in 4,164 Posts
    Quote Originally Posted by will_blueprint
    I am considering buying a villa there, what is the going interest rate?
    If you are buying property in the DR, BUY IT, don't even think of mortgaging it.

    As for your question, I think something like 35% right now.

    Of course with the unstable economy you couldn't get me to buy in the DR right now, if you gave me the money as a gift!
    Try our new ISOC Features!
    • Create a Countdown Timer for your upcoming trip or a special date here.
    • Print out one of our Money Cheat Sheets so you know much shit costs! here
    • Create Albums for your Pictures here.
    • Join Social Groups to view other's Albums here.
    • Browse our concise & informative Wiki here.
    • Learn Spanish, Check Exchange Rates, or The Weather.

  7. #6
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    35% wow thats nuts, so it be better to get the loan here then. It will be for rental property only of course

  8. #7
    Join Date
    Apr 2004
    Age
    52
    Posts
    10,468
    Thanks
    14,099
    Thanked 19,385 Times in 4,164 Posts
    Quote Originally Posted by will_blueprint
    35% wow thats nuts, so it be better to get the loan here then. It will be for rental property only of course
    Finding a mortgage company to write a mortgage on a foreign property in the DR will be impossible.

    Though a home equity loan on your U.S. home would work.

  9. #8
    Join Date
    Mar 2005
    Location
    Brooklyn, New York
    Age
    65
    Posts
    2,707
    Thanks
    75
    Thanked 249 Times in 147 Posts
    Quote Originally Posted by Don Tomas
    Quote Originally Posted by will_blueprint
    35% wow thats nuts, so it be better to get the loan here then. It will be for rental property only of course
    Finding a mortgage company to write a mortgage on a foreign property in the DR will be impossible.

    Though a home equity loan on your U.S. home would work.
    I agree... are yoiu in country right now Don? would love a conversation with you... am in tomorrow until Monday

  10. #9
    Join Date
    Apr 2004
    Age
    52
    Posts
    10,468
    Thanks
    14,099
    Thanked 19,385 Times in 4,164 Posts
    Quote Originally Posted by Escort_King
    Quote Originally Posted by Don Tomas
    Quote Originally Posted by will_blueprint
    35% wow thats nuts, so it be better to get the loan here then. It will be for rental property only of course
    Finding a mortgage company to write a mortgage on a foreign property in the DR will be impossible.

    Though a home equity loan on your U.S. home would work.
    I agree... are yoiu in country right now Don? would love a conversation with you... am in tomorrow until Monday
    Nope, about 20 days for my next trip to Santiago. Actually if I was in country I wouldn't be posting, I do computers for a living the last thing I touch in the DR is a computer!

  11. #10
    Join Date
    May 2005
    Location
    Jarabacoa, DomRep
    Age
    74
    Posts
    1,840
    Thanks
    9
    Thanked 333 Times in 177 Posts
    Quote Originally Posted by will_blueprint
    35% wow thats nuts, so it be better to get the loan here then. It will be for rental property only of course
    I echo what DT said. No way a US institution will lend money out of country.

    I WOULD buy property there (cash of course), but ONLY if the price were right.

  12. #11
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    Ok great I will look into it. DT share some of your knowledge with your Catholic School South brother.

  13. #12
    Join Date
    Apr 2005
    Location
    Sosua
    Posts
    173
    Thanks
    59
    Thanked 72 Times in 30 Posts
    Quote Originally Posted by will_blueprint
    I am considering buying a villa there, what is the going interest rate?
    As the other fellow said the rates here in the DR are up in the air. Mortgages that I give out are high and for only 40% loan to value. If your property doesn't show a positive cash flow figuring paying 3% per month interest and you don't have the cash, don't waste your time.

    I think this is a great time to buy real estate. This country is not for the faint of heart for sure but the government has been stable and this president especially is pro business. The last president Mejia was from the populist party and they are NOT pro business.

    I like buying R.E. when thiings are bad. I especially like buying when blood is running in the streets which it is NOT now. I look for steady climb upwards for the next three years. Interest rates are coming down and now real estate doesn't have to compete with 30-60% interest that the Central Bank was paying on CD's. In the States Real Estate soars when interest rates are coming down. I see no reason why the falling real estate rates wont be a further catalyst for the upwards spiral in Real Estate.

    I am not a broker and I won't be making a nickle by selling anything. If you stay in my condos I will though but that is no reason to try to pump anything other than my condos

    You can always wait till the DR catches up in price with the rest of the Caribbean or even Costa Rica for that matter then buy at the top of the market! I never thought that was a good idea though.

    Santiago is way different than the North Coast and maybe it would be a better idea to wait till the economy picks up before buying there. North Coast market is driven by outside money from Europe and N. America

    Escott

  14. #13
    Join Date
    Apr 2004
    Age
    52
    Posts
    10,468
    Thanks
    14,099
    Thanked 19,385 Times in 4,164 Posts
    Quote Originally Posted by will_blueprint
    Ok great I will look into it. DT share some of your knowledge with your Catholic School South brother.
    Catholic School South "brother"? I seem to remember our schools being mortal enemies!

    BTW How old are you approximately, did you actually go to St. Rita or Quigley South? If you are old enough and went to St. Rita, here's a trivia question...Who won the LAST game ever played in the pit?

    As for the info, yeah forget financing unless it's private party finance, there are some people that will finance privately and usually look for about 10%. There are several real estate web sites to get an idea of prices, just subtract 30-40% from the web price.

    http://www.juanperdomo.com/
    http://www.americanrealtydr.com/
    http://www.remaxnorthcoast.com/
    http://www.dr1.com/realestate/index.shtml

  15. #14
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    I know DT it was a joke, And yes we still are Mortal enemies. We are now bros of the ISOC tho. I am only 26, ao I went to ST. Rita in the old Quigly building. but i Do remember the pit and all I have to say about that is ‹^› ‹(•¿•)› ‹^›. Well thx for the info before I went and made myself look like a fool @ a bank. This board is more valuable than to find out where your next peice of ass is coming from. I knew the real estate lady made it too good to sound true, but I do believe a solid investment can be made. I mean the prices of other goods is rising there, and dont look like they are falling.

  16. #15
    Join Date
    May 2005
    Location
    Jarabacoa, DomRep
    Age
    74
    Posts
    1,840
    Thanks
    9
    Thanked 333 Times in 177 Posts
    Quote Originally Posted by will_blueprint
    ‹^› ‹(•¿•)› ‹^›
    THAT is some funny stuff.

    Cyber-art!!!


  17. #16
    Join Date
    Apr 2004
    Age
    52
    Posts
    10,468
    Thanks
    14,099
    Thanked 19,385 Times in 4,164 Posts
    Quote Originally Posted by Reel Deal
    Quote Originally Posted by will_blueprint
    ‹^› ‹(•¿•)› ‹^›
    THAT is some funny stuff.

    Cyber-art!!!

    I was expecting something meaner, if you didn't figure it out it was a loaded question. One of the biggest rivalries played the last game in the infamous pit. Mt Carmel (my school) vs St. Rita of course.

  18. #17
    Join Date
    Aug 2004
    Location
    Dominican Republic
    Age
    54
    Posts
    2,322
    Thanks
    683
    Thanked 6,363 Times in 867 Posts
    Quote Originally Posted by Escottindr
    Quote Originally Posted by will_blueprint
    I am considering buying a villa there, what is the going interest rate?
    As the other fellow said the rates here in the DR are up in the air. Mortgages that I give out are high and for only 40% loan to value. If your property doesn't show a positive cash flow figuring paying 3% per month interest and you don't have the cash, don't waste your time.

    I think this is a great time to buy real estate. This country is not for the faint of heart for sure but the government has been stable and this president especially is pro business. The last president Mejia was from the populist party and they are NOT pro business.

    I like buying R.E. when thiings are bad. I especially like buying when blood is running in the streets which it is NOT now. I look for steady climb upwards for the next three years. Interest rates are coming down and now real estate doesn't have to compete with 30-60% interest that the Central Bank was paying on CD's. In the States Real Estate soars when interest rates are coming down. I see no reason why the falling real estate rates wont be a further catalyst for the upwards spiral in Real Estate.

    I am not a broker and I won't be making a nickle by selling anything. If you stay in my condos I will though but that is no reason to try to pump anything other than my condos

    You can always wait till the DR catches up in price with the rest of the Caribbean or even Costa Rica for that matter then buy at the top of the market! I never thought that was a good idea though.

    Santiago is way different than the North Coast and maybe it would be a better idea to wait till the economy picks up before buying there. North Coast market is driven by outside money from Europe and N. America

    Escott
    Scott, we need to talk. Maybe if you are in town around Memorial Day, Will and I can check out the property. I'm looking to get something for personal use.

  19. #18
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    I played football at Rita. Just like @ Carmel. they make you learn the history before you get your pads. What yr did you grad DT?

  20. #19
    Join Date
    Apr 2005
    Location
    Sosua
    Posts
    173
    Thanks
    59
    Thanked 72 Times in 30 Posts
    Quote Originally Posted by el_papi_chew_low
    Quote Originally Posted by Escottindr
    Quote Originally Posted by will_blueprint
    I am considering buying a villa there, what is the going interest rate?
    As the other fellow said the rates here in the DR are up in the air. Mortgages that I give out are high and for only 40% loan to value. If your property doesn't show a positive cash flow figuring paying 3% per month interest and you don't have the cash, don't waste your time.

    I think this is a great time to buy real estate. This country is not for the faint of heart for sure but the government has been stable and this president especially is pro business. The last president Mejia was from the populist party and they are NOT pro business.

    I like buying R.E. when thiings are bad. I especially like buying when blood is running in the streets which it is NOT now. I look for steady climb upwards for the next three years. Interest rates are coming down and now real estate doesn't have to compete with 30-60% interest that the Central Bank was paying on CD's. In the States Real Estate soars when interest rates are coming down. I see no reason why the falling real estate rates wont be a further catalyst for the upwards spiral in Real Estate.

    I am not a broker and I won't be making a nickle by selling anything. If you stay in my condos I will though but that is no reason to try to pump anything other than my condos

    You can always wait till the DR catches up in price with the rest of the Caribbean or even Costa Rica for that matter then buy at the top of the market! I never thought that was a good idea though.

    Santiago is way different than the North Coast and maybe it would be a better idea to wait till the economy picks up before buying there. North Coast market is driven by outside money from Europe and N. America

    Escott
    Scott, we need to talk. Maybe if you are in town around Memorial Day, Will and I can check out the property. I'm looking to get something for personal use.
    I will be in town and it will be my pleasure to chat with you. I love talking about dirt

    Escott

  21. #20
    Join Date
    Feb 2005
    Location
    Chicago, Illinois
    Posts
    1,938
    Thanks
    5
    Thanked 160 Times in 62 Posts
    cool see you then my man.

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •