Want to buy property in the D.R. - Need extra funding

[wishingiwasthere]

OK - Nudel1 - im now thinking from your last post this is a wind up.

I assume that you are not too experianced of the country.
Please please take note of what has been said above - particulary Lambarda & Bushbaby. £500,000 is a hell of a lot of money in the DR. You can buy what any person in the UK would call a mansion for £250,000 - and that was the first price I was quoted before any1 started to haggle and discuss further!

Look around a bit more and take some time to LEARN - because otherwise you will lose the shirt off your back on this.

Deals will always be there in the DR - most places are for sale - you will not miss the deal fo the decade by passing on this one and learning a little more.

[johne]

Not all the people you speak to in the DR "are wonderful people". Only the people on dr1. Don't mix us up with people that have an agenda in selling a property.When doing business or negotiating with the other side if you keep the attitude of "You're not my brother so let me check it out" you will do fine.
Good luck.
JOHN

[johne]

Originally Posted by nudel1

Hi johne,
this is me Nicky (female) trying to get to grips with replying! Am new to this. Yes I can put 30% cash in AND make the project self funding - any suggestions where I could look for the balance of funds (c.£300k on property worth £500k and netting c.£5k pcm). I would be most grateful for any advice.

Sorry about that-didn't realize I was talking to OP.

[nudel1]

I can assure you this is not a wind up.... I have been sitting at my computer for the last weeks researching this project very heavily. I would not invest my own money if I did not think this was a bona fide opportunity. I fully take on board the comments and advice - it is fantastic - and, after weeks of using search engines to find information online (posted by anyone), I was so delighted to find this forum where I can actually speak to people "on the ground"....that is exactly what I need before committing £500k to my life in the DR. This is all part of my research and the advice I am getting is INVALUABLE. Whilst I appreciate that I might come across as a fluffy female taken in by the beauty of the Caribbean as so many are, I am also a property investor in London and recognised the need to invest offshore some months ago, prior to the 'crashing' of the property market here. I have all the information on the property in Cabarete (3 mins from surfer beach Enceuntro), and I am convinced that this opportunity provides the lifestyle, income and retirement fund that I have been searching for, all in one!! I do not want a mansion - I know they are available at a lesser cost - what I am looking at is a small, beautiful, fully operational and profitable, resort on the world-famous surf beach of Enceuntro - one of the most stunning places I have visited in my life! I have travelled (and lived) all over the world as my father was in the diplomatic service.... as soon as I arrived in the DR it reminded so much of my amazing childhood in beautiful countries like Africa and South America..... I want that lifestyle again and I want to give it to my daughter ... am I wrong?????

[johne]

Originally Posted by nudel1

I can assure you this is not a wind up.... I have been sitting at my computer for the last weeks researching this project very heavily. I would not invest my own money if I did not think this was a bona fide opportunity. I fully take on board the comments and advice - it is fantastic - and, after weeks of using search engines to find information online (posted by anyone), I was so delighted to find this forum where I can actually speak to people "on the ground"....that is exactly what I need before committing £500k to my life in the DR. This is all part of my research and the advice I am getting is INVALUABLE. Whilst I appreciate that I might come across as a fluffy female taken in by the beauty of the Caribbean as so many are, I am also a property investor in London and recognised the need to invest offshore some months ago, prior to the 'crashing' of the property market here. I have all the information on the property in Cabarete (3 mins from surfer beach Enceuntro), and I am convinced that this opportunity provides the lifestyle, income and retirement fund that I have been searching for, all in one!! I do not want a mansion - I know they are available at a lesser cost - what I am looking at is a small, beautiful, fully operational and profitable, resort on the world-famous surf beach of Enceuntro - one of the most stunning places I have visited in my life! I have travelled (and lived) all over the world as my father was in the diplomatic service.... as soon as I arrived in the DR it reminded so much of my amazing childhood in beautiful countries like Africa and South America..... I want that lifestyle again and I want to give it to my daughter ... am I wrong?????

Are you wrong? Nope. Your dream. Your money. As Nike might say "Just do it!"

[johne]

Originally Posted by nudel1

This is all part of my research and the advice I am getting is INVALUABLE.

One further thought-sorry a little slow this morning just got up and didn't have my research nite cap on.--I sure hope for that kind of money this is only a very SMALL "part of your research".

One more thing for my education. Maybe you can help me on some projects I have going.
You said in your last post that you have spent weeks on the internet "researching" this investment. I'm curious as to what you researched and what you found out.Were you researching, for example, facts about the DR? Hard facts about the tourist industry in Caberete or the resort you are about to buy? Public documents? Filings of any sort? If yes, where did you find this information?
I am very serious about exactly what information you were able to get on the internet that brought to to this point of almost ready to commit such a large sum of money to one project.
Looking forward to your response.
JOHN

[nudel1]

I so much want to just do it!! I know it's an emotional thing - but I also know that it's right....
I have a business partner who has been 12 years experience - mostly in the Caribben - in watersports, and he will be running the place for me.
All I need - I really, really need - is an investor who will put up £300k against guaranteed repayments and interest.... I will reply to posts in more detail, but this is a private deal in that the vendors (a Dutch couple) are 100% known and trustworthy, no agents are involved, the company is trading great with no liabilities at all, there are two fully developed plots with clear title almost on the beachfront ....
there is just a contract waiting to be signed if I can raise this finance ... honestly you guys on this forum are my main hope........

[Encuentrobeachvilla]

Hi Ricky! Well, after reading your posts, I think we may be neighbors! I have a home/vacation/rental within, I believe, eyesite of where you are interested in! I, as well, came to this "paradise" a few years ago, and my mouth dropped when I saw the views, the ocean, the palms, the potential, etc. As is your situation, at the time, I loved the area and property, and wanted to go forward, however I was unable at the time to come up with the "total" amount, in order to purchase. Fortunately, I approached the owner, and truthfully told him that, I had at the time half of the total, and needed a year, to get the balance. To make a long story short, he accepted, we made a deal, and I fevorishly, went about putting together the money over the year. This after going back and forth,.."should I do it, or not",..., well, I did it!, and glad I did! Many of the posters here offer great advise, we all get our ears twisted by advise, both good and bad, but ultimitely, we are the ones that say, "nay" or "yeah". Good diligence, good lawyer, good luck!,...and maybe, we'll be neighbors, looking out at that great view, at Encuentro Beach!

[nudel1]

Sorry, I had already posted when I saw your reply.
I would say this is my final "part of research" and I guess that is why I am excited and emotional!
My research has been ongoing for several years, into the property market, mainly in London and the surrounding areas, but over the last couple of years I have expanded my search worldwide. I have looked at various destinations, but the Caribbean has of course always been the ultimate dream. When I was in the Maldives over Christmas, I met a young man who was running the watersports centre there. We get on extremely well and had the same dream from the start - to have a watersports/dive centre near an amazing beach.
So I started researching the best beaches in the world. Naturally the Caribbean was way up there - Barbados, St. Lucia mainly, not much mention of the DR.
My partner and I spent a few days looking for small beach resorts for sale when suddenly.... BINGO - a jewel at Enceuntro Beach.... EXACTLY the thing we both dream of.... only problem (as always) just out of financial reach. No matter, deal with that one later - jump on a plane within 6 hours and go to the property. Other investors and potential purchasers have already been and one has just offered a cash deposit when we arrive in the middle of the night. A quick snooze and a breakfast meeting (with strong coffee!) to run through details. We are BOWLED OVER!! By the property, location, business, vendors, everything....
Place an immediate holding deposit having spoken to my Bank and briefly run through....
Back in London for a week trying to cut a good deal with anyone who offers less than 15%, and enables a transaction to occur in the DR within the next few weeks.
Sometimes things are meant to be, and I really feel this is one of those ...
So to be honest, I have researched everything I can.... mainly online -so much information comes up about the DR and property - although I have to say that this website is probably the best I have seen and had the privilege to participate in.

[nudel1]

Hello Encuentro Beach Villa - I saw your lovely property when I was there! I guess you also know which property I am speaking about? I am so encouraged by your message... it is unbelievable! It gives me hope that at least I can look at other options such as deferred completion with the vendor, although this would be a last resort as I have struck a deal with them that I will stick to if it is in ANY WAY POSSIBLE! Hearing you say that it has been everything you hoped makes me more determined.
LOVING the advice ... we are literally on the same page.... Bushbaby, Lambada, JD, Skippy.... keep them coming if you have time.... Caribbean styleeeee