Juan Dolio - South Beach of the Caribbean !!! - Page 83

STEVE G. · #**821** 05-12-2008, 05:02 PM

Quote:

Originally Posted by tysonrobinson.com

I've seen some great posts here and some very interesting comments. Steve is the man! Great info! I'm sorry, but my post will be totally off subject...

Hi Tyson ! Welcome to DR1 ! Sorry I've missed your first post . Just have noticed it . Did you get any PM replies already ? Be free to ask on DR1 . And on this thread any questions about Juan Dolio are not ''Off Subject'' . Welcome again !

Fernandez · #**822** 05-13-2008, 10:06 PM

Quote:

Originally Posted by STEVE G.

Agree ... Personally would recommend to wait until the project is done and sold out by the developer completely at original price , specially in Marbella by Metro . The main reason why Group Metro went so far out to develop Costa Blanca , because there is no more beach front land left to build in Juan Dolio. They have done Costa Del Sol I & II , now Marbella and Las Olas .When they finish them , they will concentrate in Costa Blanca area. Most other projects in Villas Del Mar / Juan Dolio will continue being developed inside from Boulevard . Remember as well on Boulevard almost there are no land left . So basically only dozen of the projects are beachfront . That's it . Juan Dolio is not like Punta Cana / Bavaro where they can build 100 beach front Resorts more and thousands of condos , villas and you still will not notice if it's overbuild . Juan Dolio's beachfront is very limited to overbuild to become a real buyer's market where desperate sellers are dropping the prices like it happens in Florida right now

I agree.
I was wondering if there is any data available concerning the sales of condominiums in the Juan Dolio market, such that a comparison of real market values vs. real purchase prices can be made, including days on market and original vs. actual sales prices.
Without data, we can't claim there aren't desperate sellers in the area, as I suspect the difference again is that investors have "equity" in these Dominican projects, funded by debts elsewhere- whereas in the States, its all debt financed.
Without a liquid secondary market and the data to support it, it is more like the investors are "stuck" with these properties like it or not.
Also, I wonder if there is a comparison of management charges and association fees.
Does anyone know the proposed association fees for Las Olas- I understand it runs around US$750 / month for the larger apartments. This figure is a bit frightening if the rental pool is not available.

frank recktenwald · #**823** 05-14-2008, 10:10 AM

Quote:

Originally Posted by Fernandez

I agree.
I was wondering if there is any data available concerning the sales of condominiums in the Juan Dolio market, such that a comparison of real market values vs. real purchase prices can be made, including days on market and original vs. actual sales prices.
Without data, we can't claim there aren't desperate sellers in the area, as I suspect the difference again is that investors have "equity" in these Dominican projects, funded by debts elsewhere- whereas in the States, its all debt financed.
Without a liquid secondary market and the data to support it, it is more like the investors are "stuck" with these properties like it or not.
Also, I wonder if there is a comparison of management charges and association fees.
Does anyone know the proposed association fees for Las Olas- I understand it runs around US$750 / month for the larger apartments. This figure is a bit frightening if the rental pool is not available.

Just to get the record straight the maintenance fees for Las Olas will be approx $3,50 sq/mtr and of course Metro has a Rental Pool, I'm running it. The banner for the rental pool on DR1 should be up and running this weekend.
If you have any questions you can contact me.

jruane44 · #**824** 05-14-2008, 10:38 AM

Quote:

Originally Posted by frank recktenwald

Just to get the record straight the maintenance fees for Las Olas will be approx $3,50 sq/mtr and of course Metro has a Rental Pool, I'm running it. The banner for the rental pool on DR1 should be up and running this weekend.
If you have any questions you can contact me.

What is a rental pool?

frank recktenwald · #**825** 05-14-2008, 11:04 AM

Quote:

Originally Posted by jruane44

What is a rental pool?

Rental Pool is the management and rental of the condos/villas on behalf of the owners.

Fernandez · #**826** 05-14-2008, 12:38 PM

The US$3.50/sq mtr equates US$885/month on a 252 apartment. This amounts to around US$30/day per this unit. The estimated amount that the association will charge seems quite high, and as with Costa del Sol, etc,,, I am not sure that the owner/occupied units will be full all the time, requiring the full time staffing and personnell issues that might be included in that number.
Concerning the rental pool, assuming a 70/30 split, and now that the building will be much larger than originally planned, I wonder if there will be sufficient demand to cover the number of units that are to be rented?
Also, why are you charging per square foot? The penalty applied to larger units to subsidize the smaller ones is not a logical assumption. All units will "use" the same amount of services, independent of their size, so why not divide the all in costs by the number of units?
Also, who controls the cost of the management, who is overseeing the process such that expenses are charged with complete clarity and with minimum stuffing in the process? The Unit Holders need representation directly on the Board- what is the process undertaken to ensure representation in this case, and perhaps the ability to reduce these costs?

Fernandez · #**827** 05-14-2008, 12:42 PM

Quote:

Originally Posted by frank recktenwald

Just to get the record straight the maintenance fees for Las Olas will be approx $3,50 sq/mtr and of course Metro has a Rental Pool, I'm running it. The banner for the rental pool on DR1 should be up and running this weekend.
If you have any questions you can contact me.

Glad to know your running the rental pool.
At the same time, you must have knowledge on the sales side of the current properties in the area/ Las Olas etc., and resale values. Perhaps you can enlighten me as to the recent/historical resales of units in the Costa Del Sol, and time on market etc...
This information would be very helpful, and I undserstand that these sales are conducted throught the Real Estate office of the Metro, so could you please provide some information.
Thanks,

mikey007 · #**828** 05-16-2008, 12:49 PM

i always like the rapid response to great questions 3 days later

johne · #**829** 05-16-2008, 03:16 PM

Quote:

Originally Posted by mikey007

i always like the rapid response to great questions 3 days later

Hey calm down. Do you remeber the sign in the restaurant that says"Good Food takes time to Prepare"?

or--It's at the top of my list.Get to it as soon as I put some other fires out.It's (the information) is in the archives and I need to drive to POP to retrieve it.....I'm done..Funny Friday is almost over.
LOL

pizzabite · #**830** 05-16-2008, 06:19 PM

Fernandez brings up some valid and sensible points.

It has been my experience and observation that the rental pools are a convenience that becomes cost prohibitive and force the unit owners to ask for rates that are too high for the consumer. There seems to be a large amount of owners offering rentals outside the pool at a much lower rate, which is how we rented and saved $2K per month.

How can one find rental data for Guavaberry, Metro CC, Costa Del Sol, and other existing buildings in Juan Dolio?