Quote:
Originally Posted by jjwilliamson85
Hi
I am currently living and working for an indefinite amount of time in the DR, in Santo Domingo. I have some money in a bank account back at home, and am weighing up the possibility of using it to buy a cheap apartment in this country and having the rental income suppliment my current income. I don't really have the money to spend on a beachfront property, as most of the discussion on this board seems to cover, as i am not eager to take out a bank loan. I'm looking for something more with the aim of renting to Dominican people on a permenant basis, rather than as holiday accomodation. Can anybody suggest somewhere online where i can look in order to do some early research. Also, can anybody suggest the sort of prices i would be expecting to pay, for example, for a cheap apartment in Santo Domingo or San Cristobal? What sort of price range is there? I am currently just looking at figures, seeing if this sort of thing is viable etc. Any advice would be gratefully received. Thanks.
Joe
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Don't do it. Use the search feature here on dr1 and see what can happen when a Dominican refuses to pay your rent.Then look at the cost of your "cheap" apt. and the rent it MIGHT bring in. Determine the possible return on cash and then keep your money in the bank or another investment.