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Rice S.
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Seeking PML for Dominican Republic property

Rice S.
Posted Dec 25 2022, 10:22

Hello. We’re looking for a PML who could fund a build near Santiago, Dominican Republic. Happy to provide more details to anyone interested.

Looking for

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Chris Seveney
  • Investor
  • Northern Virginia
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Chris Seveney
  • Investor
  • Northern Virginia
Replied Dec 25 2022, 14:00

@Rice Sanchez

Do you have any assets here in the US to cross collateralize ?

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Rice S.
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Rice S.
Replied Dec 25 2022, 16:27

Hi Chris. We have two vehicles. 

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Chris Seveney
  • Investor
  • Northern Virginia
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Chris Seveney
  • Investor
  • Northern Virginia
Replied Dec 25 2022, 17:11

@Rice S.

Your chances of getting a loan are extremely limited as most lenders do not lend out of USA due to laws of the land. Typically you need 40-50% down to get a loan.

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Mike Lambert
  • Investor
  • Montréal, Québec
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Mike Lambert
  • Investor
  • Montréal, Québec
Replied Dec 25 2022, 22:19

@Rice S.

As mentioned by @Chris Seveney, it's extremely unlikely that you'll find any PML for that. It's even less likely you'll find one for a new build. Indeed, a PML typically will want a titled property as collateral in a country where it could get its hands on the collateral, should you default on the property. That means no construction and no lending overseas.

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Rice S.
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Rice S.
Replied Dec 26 2022, 08:09
Quote from @Mike Lambert:

@Rice S.

As mentioned by @Chris Seveney, it's extremely unlikely that you'll find any PML for that. It's even less likely you'll find one for a new build. Indeed, a PML typically will want a titled property as collateral in a country where it could get its hands on the collateral, should you default on the property. That means no construction and no lending overseas.


 What are our options? Would it be possible to sell the unfinished home?

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Mike Lambert
  • Investor
  • Montréal, Québec
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Mike Lambert
  • Investor
  • Montréal, Québec
Replied Dec 26 2022, 20:31

@Rice S.

There's nothing to prevent you from doing that. You'd "just" need to find a buyer.

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Junior Jaquet Hernandez
  • Rental Property Investor
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Junior Jaquet Hernandez
  • Rental Property Investor
Replied Jan 24 2023, 21:14
Quote from @Rice S.:
Quote from @Mike Lambert:

@Rice S.

As mentioned by @Chris Seveney, it's extremely unlikely that you'll find any PML for that. It's even less likely you'll find one for a new build. Indeed, a PML typically will want a titled property as collateral in a country where it could get its hands on the collateral, should you default on the property. That means no construction and no lending overseas.


 What are our options? Would it be possible to sell the unfinished home?

You can find a buyer as is or you can get a partner to finish the property and after that sell the property 

if you need help selling the property let me know thanks

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Junior Jaquet Hernandez
  • Rental Property Investor
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Junior Jaquet Hernandez
  • Rental Property Investor
Replied Jan 24 2023, 21:16

I do investment in the Dominican Republic I live in Punta-Cana if you need something that I could help let me know