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Topic: Due Diligence (Read 78 times)

MommC
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Due Diligence
« Thread Started on Apr 26, 2008, 12:29pm »

Paradise!!

So you've arrived in the DR and have been spell bound by it's beauty and the friendly inhabitants and now you can't wait to own a piece of paradise yourself!

Everything is sooooo perfect!

Beware......things are not always as they seem.
Make sure that you don't rush into anything, which is a VERY common mistake here on the island.

Take your time and visit other areas of the island to see if perhaps there is an area that appeals to you even more.

Get to know the local Dominicans in the area you are interested in and ask them what they think! (Yes, you REALLY should be able to speak Spanish if you intend on spending a lot of time here and especially if you intend to purchase property)

Rent a condo or house for a minimum of six months before you buy anything! This will give you a chance to look for good buying opportunites, find out how things 'work' in the DR and become aware of some of the challenges faced in day to day living in the DR.

Learn the vagarities of buying in the DR and the numerous 'scams' that abound.............then you'll be ready to buy!

Be aware that buying is easy but selling can take years........

We want you here!!

However, we also want you to make a good buy, in a safe area and have the network of people behind you that can make your transition to life in the DR much more pleasant!

more to follow.......

« Last Edit: Apr 26, 2008, 12:30pm by MommC »

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Re: Due Diligence
« Reply #1 on Apr 29, 2008, 1:17pm »

Excellent post and good advice. While it is paradise it is not what you expect. Get to know the country, the culture and the way things are done or at the very least, get good advice!!!

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kflow11
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Re: Due Diligence
« Reply #2 on Oct 27, 2009, 2:57am »

My intentions and actions are to follow your advice to the letter. My question to you is this:

If you had a choice between Santo Domingo and Puerto Plata, which one would you choose?

Ok...before you say "it depends" or "I need more info", I would like to share this info with you. I am 40, African-American male, single with no limitations but want to get away from all of the United States crap. For the record, I am not running from anyone (police, govt authorities, creditors, ex-girlfriends, etc) nor anything, I just want to see what another country has to offer. Im just a country boy who wants to enjoy life and hopefully get married someday. I dont have a job there yet nor even know where I can/should live. I was thinking of coming with a couple of thousand and that would hold me for a couple of months and hopefully have a job immediately to bring in some income. I have been doing research and understand that the pay is low but if the rent is low, I believe it works in my favor. I have been doing Property Management (renting/leasing houses) for the past 7 yrs but I have the skills to do WHATEVER is needed to pay my rent (nothing illegal). If for some reason that doesnt work for me, I feel basically my office skills should help me land something. I DO NOT have a problem getting my hands dirty and working EVERYDAY, if needed. My Spanish is rusty but I can pick up quickly. Based on info provided and in your opinion, what should I do?

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kflow11
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Re: Due Diligence
« Reply #3 on Oct 27, 2009, 2:59am »

Forgot to mention....looking at arriving around the end of November 2009

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squat
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Re: Due Diligence
« Reply #4 on Oct 27, 2009, 6:23am »

Oct 27, 2009, 2:57am, kflow11 wrote:

If you had a choice between Santo Domingo and Puerto Plata, which one would you choose?

If you can afford it, take 6 months off, and spend some time in various places of the DR, so you can get a feel... Don't make any decision before experimenting by yourself. Work hard at speaking good Spanish... Don't marry (or date) any girl whom you met at night or in a bar...

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Samanave
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The Choice
« Reply #5 on Oct 27, 2009, 3:49pm »

Oct 27, 2009, 2:57am, kflow11 wrote:

If you had a choice between Santo Domingo and Puerto Plata, which one would you choose?

Neither. (I don't like cities.)
But I am not you. 8-)

In SD there's more money and English speakers may find a job more easily than elsewhere (There are always the call centers...).
But there are other places, too:
Punta Cana (touristy), Samaná, etc.

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kflow11
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Re: Due Diligence
« Reply #6 on Oct 27, 2009, 8:37pm »

ok, thanks a lot....that is some sound advice. I will make sure to remember...

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