Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Untapped Paradise
Old 04-25-2007, 09:44 PM   #1
Recycles dryer sheets
 
Join Date: Feb 2007
Location: Martin Alonzo
Posts: 111
Untapped Paradise

I went on a dive trip some 24 years ago to Provo in the Turks and Cacaos.
The girl that booked the trip for us said why do you want to go there. There is nothing going on there itís very quiet. I could have bought half the beachfront property for next to nothing. In hind site I wished I did, now itís a string of high-class hotels and the price for land is crazy. Itís manly a dry rock with little vegetation. Right now I think the Dominican Republic is going through the same transition. The price of land is starting to rise and there is lots of work being done on new investment for tourist projects and sub divisions. The DR has everything as far as land, mountains, rivers, good farmland and beautiful beaches. It's a great place to retire to and reasonable.
__________________

__________________
Living life to the fullest
d0ug is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Untapped Paradise
Old 04-26-2007, 05:21 PM   #2
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 2,091
Re: Untapped Paradise

So any suggestions for investment for us crazy and insane enough to consider buying direct foreign real estate while not living in that country?
__________________

__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Re: Untapped Paradise
Old 04-27-2007, 10:02 AM   #3
Full time employment: Posting here.
sailor's Avatar
 
Join Date: May 2005
Location: Atlanta suburbs
Posts: 881
Re: Untapped Paradise

Quote:
Originally Posted by MooreBonds
So any suggestions for investment for us crazy and insane enough to consider buying direct foreign real estate while not living in that country?
Not doug, but i'll bite (I own direct foreign real estate)
1. don't
2. have somebody you really trust be a partner with their money on the stake, offer them additional percent of income for their troubles - for example you own something 50/50 with your partner, he gets 60% of net income and you get 40%
3. I would not have considered buying direct if there is no local partner to deal with all the hassles (even on raw land purchases)
__________________
sailor is offline   Reply With Quote
Re: Untapped Paradise
Old 04-27-2007, 08:34 PM   #4
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: Untapped Paradise

what i want to know is how come ya mention florida and you get at least two comments right away about hurricanes, but mention d.r. and it's as if suddenly you're buying into an area with the infrastructure to actually handle such an event.

having lived in the caribbean as a teen i would tell you how amazing it is to live there. though i've heard much damage has been done to the reefs since then. still, its gotta beat suburbia.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Re: Untapped Paradise
Old 04-28-2007, 11:06 AM   #5
Full time employment: Posting here.
Arif's Avatar
 
Join Date: Jun 2005
Posts: 761
Re: Untapped Paradise

Buying property overseas can be totally different from the US. For instance, here in Panama they have two types of properties. One is ROP (Rights of Possession) and the other is titled land. If you don't know the difference you could be in essence just renting land rather than buying it. For instance, in Bocas del Toro, a lot of the land there can not be bought only leased for 25 years (ROP). There have been quite a few incidents of foreigners buying ROP land thinking they own it but instead end up renting it from the gov't. A lot of homework to be done when venturing out of the US. We bought our lot here and the process was very different from the states.

I agree with sailor, only invest if you have someone you trust that is on the ground and knows what they are doing. Or plan to invest time in learning how property is bought in the country.
__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Arif is offline   Reply With Quote
Re: Untapped Paradise
Old 04-29-2007, 10:47 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,739
Send a message via Skype™ to kcowan
Re: Untapped Paradise

We rent a penthouse in PV from some friends in Bellevue. They purchased new six years ago. They still do not have title because the 3 remaining parking stalls have not yet been sold (at $20k each). They already have bought one but some of the tenants have no need for a car (because it is central and taxis and buses are handy and cheap).

So you never know what you are getting into. It might work out just fine but only if you are lucky.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Re: Untapped Paradise
Old 04-30-2007, 09:16 AM   #7
Recycles dryer sheets
 
Join Date: Feb 2007
Location: nyc
Posts: 100
Re: Untapped Paradise

I would looooooove to buy beachfront property in Eleuthera, Bahamas. When we were there a few years ago, there were a LOT of advertisements & we met a lovely expat british couple of archetects, that'd bought some land & were building a number of little beach houses, to rent out. They made it sound soooo easy.

I also spoke to the people we rented from about it, casually. The couple we rented from are real estate agents in FL, and the place we were staying in was their little getaway place. They'd divided it up into 3 little apartments & rented it out year-round.

Sadly (or maybe not), I'm too smart to not realize what a HUGE amount of work it would be, to buy the land, build on it, then be landlords for it. It just doesn't seem worth it, if I was looking at it as a genuine way to make money. Not at this stage of my life anyways; I'm not mature enough yet to manage something like that.
__________________
Celany is offline   Reply With Quote
Re: Untapped Paradise
Old 05-07-2007, 10:03 AM   #8
Recycles dryer sheets
 
Join Date: Feb 2007
Location: Martin Alonzo
Posts: 111
Re: Untapped Paradise

I moved to the Dominican Republic about six years ago. Bought some land and built my retirement home. The land I bought was about Ĺ acre and cost US$6,000. It is possible where I live two build a two-bedroom house cement floor, block walls and medial roof for US$ 10,000. That is now. I have been watching expatriates building new houses and buying land at an increasing rate. As more and more expatriates move down here the prices will change. Iím not in the real-estate business or plan too but if someone is interested MP me if I can help with any information
__________________
Living life to the fullest
d0ug is offline   Reply With Quote
Re: Untapped Paradise
Old 05-07-2007, 12:14 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Untapped Paradise

d0ug, I am curious: how did you end up moving to the DR? Did you just go there one day and never leave? Have family there? Long-planned move upon retirement? Something else?
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Untapped Paradise
Old 05-07-2007, 03:16 PM   #10
Recycles dryer sheets
 
Join Date: Feb 2007
Location: Martin Alonzo
Posts: 111
Re: Untapped Paradise

When I retired I went sailing the Caribbean after 6 years. When I reached the DR and found it friendly, quiet, safe and cheap. I decided to live here that was about 6 years ago. I have started a new family here.
__________________
Living life to the fullest
d0ug is offline   Reply With Quote
Re: Untapped Paradise
Old 05-07-2007, 03:27 PM   #11
Thinks s/he gets paid by the post
Sheryl's Avatar
 
Join Date: Apr 2004
Posts: 1,459
Re: Untapped Paradise

The north coast of Honduras is going through a similar period of build-up, I think. It's very remote, and still affordable, but American developers are starting to put up resorts. Roatan is already getting expensive for those seeking bargains, but still affordable relative to other Caribbean locations.

It takes more cojones than I have to buy there.
__________________
Sheryl is offline   Reply With Quote
Re: Untapped Paradise
Old 05-07-2007, 04:02 PM   #12
Recycles dryer sheets
 
Join Date: Feb 2007
Location: Martin Alonzo
Posts: 111
Re: Untapped Paradise

I went to the Guanaja one of the bay islands on a dive trip and loved it. I was very sad to here about the damage that the hurricane did I hope there getting back to normal. Yes I think the Bay islands and Honduras will develop very fast as people start going there.
__________________
Living life to the fullest
d0ug is offline   Reply With Quote
Re: Untapped Paradise
Old 05-13-2007, 02:41 PM   #13
Full time employment: Posting here.
Patrick's Avatar
 
Join Date: Mar 2005
Location: Northern, Florida
Posts: 925
Re: Untapped Paradise

Doesn't the Dominican Republic have one of the highest HIV/AIDS rates in the world? I think I heard that somewhere.
__________________
Retired in 2006 at age 49.

"Who among us is smart enough to learn from the mistakes of others?" - Voltaire
Patrick is offline   Reply With Quote
Re: Untapped Paradise
Old 05-13-2007, 02:47 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Re: Untapped Paradise

Quote:
Originally Posted by Patrick
Doesn't the Dominican Republic have one of the highest HIV/AIDS rates in the world? I think I heard that somewhere.
I saw a news piece... apparently the other side of the island does... Haiti
__________________

__________________
chinaco is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Paradise - the best spot on earth janeeyre Travel Information 33 05-27-2007 06:04 PM
Retirement Paradise is Panama pagar Life after FIRE 93 02-23-2006 05:58 PM
backyard paradise trumpeting_angel Life after FIRE 33 07-26-2004 06:36 AM

 

 
All times are GMT -6. The time now is 01:41 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.